Go figure – Bailout loser GM (i.e. recipient of billions of $ in taxpayer backed loans) picked a Korean company (LG Chem) over Massachusetts-based A123 Systems to supply its electric vehicle with batteries:
The reason? In addition to those officially listed in the PR above, some others are postulated here in this article:
I will stress that I am a free market guy, but I still enjoy POINTING OUT THE IRONY THAT EXISTS HERE: NAMELY, BAILOUT HAPPY POLITICIANS’ CLAIMS TO SAVE AMERICAN JOBS AND COMPANIES TO WHOM TAXPAYER MONEY IS GIVEN, CHOOSING FOREIGN OVER AMERICAN SUPPLIERS!
Folks, I hope, I really do, that you are coming to realize that leaving politicians and big corporations (often the same thing – one is overpaid through salary and the other through backdoor perks) in charge of your well being, is disastrous.
Since A123 is run by a real entrepreneur (LG Chem is a big pseudo-state corporation in South Korea), and since their technology is supposed to be really good (according to articles I’ve read), I have a feeling that their team will succeed anyway. Oh and FYI for those who have not read my past articles regarding A123, the founder is a Chinese immigrant who did his research at MIT (glad to hear we’re cutting down on foreign work visas – nice job Ted Kennedy et al – way to kill those job creators!).
I’m having all kinds of problems with government these days…wow am I cranky!
P.S. remember my advice – do NOT listen to government, do not spend – you must: save money, start accumulating precious metals, & cut expenses
Sign up to receive my articles in your inbox—>