so what? It's really simple .. that company was producing lithium batteries .. they had a deal with China ..it fell through... Now, do you just want the government to not invest in research or tech or drugs and medical devices or anything anymore? .. I mean, GET REAL! you wouldn't be sitting in a chair typing on some sort of computer .. without the government funding it .. way back when! ..
BIG FREAKING DEAL! .. NOT!
WASHINGTON, Nov 16 (Reuters) - The Obama administration provided struggling battery maker A123 Systems Inc with nearly $1 million on the day it filed for bankruptcy, the company told lawmakers investigating its government grant.
The company, which makes lithium ion batteries for electric cars, filed for Chapter 11 bankruptcy protection last month after a rescue deal with Chinese auto parts supplier Wanxiang Group fell apart.
That same day, Oct. 16, A123 received a $946,830 payment as part of its $249 million clean energy grant from the Energy Department, the company said in a letter obtained by Reuters to Republican Senators John Thune and Chuck Grassley. (Reporting by Ayesha Rascoe; Editing by Gerald E. McCormick)
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