And another Obama administration-backed “green energy” company bites the dust.
A123 now joins the green jobs Hall of Shame (along with Solyndra) destined to prove that federal and state governments make exceedingly poor venture capitalists. But federal taxpayers aren’t the only losers on this deal. The state of Michigan invested $141 million in grants and tax credits in the now bankrupt company. Those grants along with the federal money were supposed to fund a new Michigan plant — a “tremendous milestone” Obama called it back in 2010.