Tuesday, December 11, 2012

A123 battery company being bought by Chinese Wanxiang

See post A123 Systems sale still a raw deal to some

Republican senators angered by Chinese firm’s purchase of bankrupt Waltham battery-maker that received millions in taxpayer dollars under Obama

From within the post:

“The president borrowed money from China to pay for his $800 billion stimulus bill, and then gambled these funds away on now-bankrupt green energy ventures,” Senator John Thune, Republican of South Dakota, said in a statement Monday [10 Dec 2012]. “Now we learn that a Chinese company has bought one of these companies for pennies on the dollar. In the end, the taxpayers will be left having to repay interest to China for a business that a Chinese company now owns.”

See also Critics Fight To Block A123 Sale To Chinese Firm


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