Championship Subdivision Football | FCS Football | Stadiums | Blogs | Forums

Green energy company given federal stimulus funds lays off 125 workers, gives pay raise to executives


An electric car battery company reportedly has laid off 125 employees since receiving $390 million in government subsidies, but is still handing out big pay raises to company executives.

A123 systems, which was touted as a stimulus "success story" by former Gov. Jennifer Granholm, D-Mich., had a net loss of $172 million through the first three quarters of 2011, according to the Washington Examiner's "Beltway Confidential" blog, citing a report from the Michigan-based Mackinac Center for Public Policy.

A123's primary customer, Fisker Automotive, is also struggling financially. "Yet, this month A123’s Compensation Committee approved a $30,000 raise for [Chief Financial Officer David] Prystash just days after Fisker Automotive announced the U.S. Energy Department had cut off what was left of its $528.7 million loan it had previously received.”

This month has seen significant pay boosts for other A123 executives, as well, including vice presidents Robert Johnson and Jason Forcier.

The raises were reported by the company in its filings with the U.S. Securities and Exchange Commission, according to the Mackinac report.

“It looks highly suspicious,” Paul Chesser, associate fellow for the National Legal & Policy Center, told Mackinac. “It looks like they are trying to pad their top people's wallets in case something really bad happens.”


Read more: http://www.foxnews.com/politics/2012/02 ... z1nVqwIuEI" onclick="window.open(this.href);return false;

CitadelGrad wrote:I posted this yesterday, but thanks for playing.

travelinman67 wrote:Liberalism 101

1) Create a nanny agenda.
2) Commit all resources to market agenda.
3) Throw taxpayer money at supporters of agenda to fuel hysteria, turning a blind eye to misuse of said funds.
4) Watch every cockroach/con-artists crawl from cracks and holes to steal and misuse taxpayer funds mismanaged by liberals.
5) Watch liberals ignore misuse/embezzlement of taxpayer funds.

Cap'n Cat wrote:

travelinman67 wrote:Liberalism 101

1) Create a nanny agenda.
2) Commit all resources to market agenda.
3) Throw taxpayer money at supporters of agenda to fuel hysteria, turning a blind eye to misuse of said funds.
4) Watch every cockroach/con-artists crawl from cracks and holes to steal and misuse taxpayer funds mismanaged by liberals.
5) Watch liberals ignore misuse/embezzlement of taxpayer funds.

Yawn. Something original next time, T?

Thanks.

kalm wrote:

CitadelGrad wrote:I posted this yesterday, but thanks for playing.

I'm glad you guys are all over this...just like the oil externalities.

CitadelGrad wrote:

kalm wrote:
I'm glad you guys are all over this...just like the oil externalities.

I didn't even address oil prices. I addressed only the corruption behind Obama's use of stimulus funds to reward his donors and constituent groups.

Cap'n Cat wrote:

CitadelGrad wrote:
I didn't even address oil prices. I addressed only the corruption behind Obama's use of stimulus funds to reward his donors and constituent groups.

Corruption!!

Conks are cute when they flail!!!

AZGrizFan wrote:

Cap'n Cat wrote:
Corruption!!

Conks are cute when they flail!!!

Really sad that you are so partisan that you can blindly ignore government fraud but choose to demonize specific industries.

Cap'n Cat wrote:

AZGrizFan wrote:
Really sad that you are so partisan that you can blindly ignore government fraud but choose to demonize specific industries.

Really sad that you are so partisan that you can blindly assign all government fraud to one guy and choose to ignore everything anti-Conk

AZGrizFan wrote:

Cap'n Cat wrote:

Really sad that you are so partisan that you can blindly assign all government fraud to one guy and choose to ignore everything anti-Conk

I'm not ignoring anything...the fraud on Wall Street is well documented. But the fact you can laugh off another multi-million dollar pocket-lining by your boy at the taxpayer's expense as just more "conk flailing" is really telling.

Cap'n Cat wrote:

AZGrizFan wrote:
I'm not ignoring anything...the fraud on Wall Street is well documented. But the fact you can laugh off another multi-million dollar pocket-lining by your boy at the taxpayer's expense as just more "conk flailing" is really telling.

This "pocket-lining" shit is more Conk crap and you know it. Obama is the least controversial president (to normal people) in the last 60 years.

AZGrizFan wrote:

Cap'n Cat wrote:

This "pocket-lining" shit is more Conk crap and you know it. Obama is the least controversial president (to normal people) in the last 60 years.

You are truly delusional.