LG Chem MI accused of WASTING $150 Mil Fed Grant Money

[MizMotown]

LG Chem Michigan accused of wasting most of $150 million federal battery grant

http://www.freep.com/article/2013021...text|FRONTPAGE

THIS IS A DANG NAB SHAME!! WHO'S GONNA PAY THE PIPER???? HMMM.... BEND OVER FOLKS... THEY COMIN' ATCHA AGAIN.

[rb336]

You will sing a different tune once production and full-scale hiring starts. The Chinese, Japanese and Korean governments are offering huge subsidies to LiB manufacturers. far more than the US and Eurozone [[although Germany has boosted their subsidies). Why? it is a vitally important emerging technology. The batteries are far more efficient and far less toxic than NiCad and lead acid. They are also far cheaper to recycle. It is also a technology where getting in the game requires a huge investment. You want to get in the game, or let the Asian countries continue to totally dominate the market? You want in on the game, or do you want the US to sit on the sidelines?

[JBMcB]

Typical crony capitalism. Why be diligent about spending when it isn't your money? The government's usual solution to these kinds of boondoggles is throwing more money at the problem, which I'm sure will be forthcoming.

[gazhekwe]

The fact that there was an audit this close to the beginning of the program is encouraging, at least the feds are working to keep track of the spending. Now to find out what they will do about it.