Now the battery maker (A123 Systems), which got a 500 MILLION dollar grant (only a portion of which was used before the feds cut them off) from the US taxpayers, is likely to file for bankruptcy.
How much more “Green” ventures will we have to help finance before we realize that this is pouring money down a rathole?
If the business plans are valid, then there will be plenty of venture capital available for financing these startups. I wouldn’t even have issues with giving them some tax breaks for the first 5 years. But the way these ventures have been managed so quickly into direct failure, enriching only the management group, should be seen as criminal.
A quarter BILLION dollars going towards…what? (Shouldn’t we as investors (albeit unwilling) at least get the salaries back from those folks that supervised the failure? )(Although I’d really prefer to see them jailed for malfeasance)
How many more failures of this type are on the horizon? How much more public money will we see go to waste with no jobs, no infrastructure, and no resulting return?