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The Almighty Buck China United States Politics Technology

Chinese Firm Wins Bid For US-Backed Battery Maker 183

theodp writes "On September 13, 2010, President Obama called A123 Systems from the Oval Office to congratulate them on opening the nation's first manufacturing facility to mass-produce electric vehicle batteries, which the White House noted was made possible by a $249 million Recovery Act grant the company received the prior August. 'When folks lift up their hoods on the cars of the future,' the President said, 'I want them to see engines and batteries that are stamped: Made in America. And that's what you guys are helping to make happen.' But on Saturday, the assets of A123 Systems were auctioned off to the Wanxiang Group, a large Chinese auto parts maker. Wanxiang agreed to pay $256 million for A123's automotive and commercial operations, including its three factories in the United States. Forbes reports that A123's stock, which closed at 7 cents a share on Friday, is now worthless."
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Chinese Firm Wins Bid For US-Backed Battery Maker

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  • Re:And? (Score:5, Funny)

    by paiute ( 550198 ) on Monday December 10, 2012 @12:34PM (#42243131)

    all the IP will go to the Chinese.

    At least this time we got them to pay for it.

  • Fuck... (Score:0, Funny)

    by Anonymous Coward on Monday December 10, 2012 @01:06PM (#42243461)

    China and Obama!

  • Re:And? (Score:0, Funny)

    by Anonymous Coward on Monday December 10, 2012 @01:23PM (#42243625)
    Damn those Democrats! They (meaning a corporation that went belly up several years later) wasted 0.03% of the American Recovery and Reinvestment Act!
  • Re:And? (Score:4, Funny)

    by Rockoon ( 1252108 ) on Monday December 10, 2012 @07:39PM (#42247241)

    (Reliable) citation, or you just made these numbers up. And that doesn't mean a link to some blog that made the numbers up themselves, either. It means a link to an irrefutable source.

    When the official source of this information is the government itself, on the official websites which tracks this stuff, which never leaves out any of its voting.. it makes you look like an idiot for not automatically going there where you should have known to go.

    Senate Vote [senate.gov]
    House Vote [house.gov]

    Now here is an idea.. instead of pretending to be smart by asking for a citation.. prove that you are smart by actually watching what the government is actually doing through the most authoritative channel possible.. the public one that has never once editorialize.. never once given an opinion.. the one you apparently didnt fucking know about proving that you are just a sheep.

All Finagle Laws may be bypassed by learning the simple art of doing without thinking.