Monday, September 24, 2012

Commonsense & Wonder: Government waste and fantasy

Commonsense & Wonder: Government waste and fantasy

LG Chem received $151 million from feds, $100 million from state

Two years ago, when President Obama visited the LG Chem battery plant in Holland, it was hailed as part of the transformation of Michigan to a “green economy.”
The battery plant, which supplies batteries for the Chevy Volt, got $151 million from the U.S. Department of Energy.
Today, $133 million of that $151 million has been spent, but since April, the company's 200 workers have been on "rolling furloughs" because the electric vehicle market has failed to blossom as promised by many.