Last Updated:October 1 @ 07:56 am

Another Obama Tax Grant Gone Bust

By Bobby Eberle

One of the most entertaining portions of the first Romney/Obama presidential debate was when GOP presidential candidate Mitt Romney highlighted Barack Obama's failed green energy plan. Layered in corruption, not only is tax-payer money going to Obama cronies, but time and time again, the companies fail to deliver. As Romney pointed out, "You don't pick the winners and losers. You just pick the losers." And it happened again...

As reported by Fox News, $150 million in tax-payer funds were given to LG Chem in order to make batteries for the electric Chevy Volt and Ford Focus. Guess what has happened?

President Obama touted it in 2010 as evidence "manufacturing jobs are coming back to the United States," but two years later, a Michigan hybrid battery plant built with $150 million in taxpayer funds is putting workers on furlough before a single battery has been produced.

Workers at the Compact Power manufacturing facilities in Holland, Mich., run by LG Chem, have been placed on rotating furloughs, working only three weeks per month based on lack of demand for lithium-ion cells.

The facility, which was opened in July 2010 with a groundbreaking attended by Obama, has yet to produce a single battery for the Chevrolet Volt, the troubled electric car from General Motors. The plant's batteries also were intended to be used in Ford's electric Focus.

Obama was on-hand for the groundbreaking of this company, and like Solyndra and others before it, perhaps Obama can help shut the doors as well.

"You are leading the way in showing how manufacturing jobs are coming right back here to the United States of America," Obama told workers at the ground-breaking ceremony. "Our goal has never been to create a government program, but rather to unleash private-sector growth. And we're seeing results."

Wow... I don't know if a single quote from Barack Obama has ever said so much. Let's take a look. First, he says that his goal is not to create a government program. Come on! We all know that's the ONLY thing he is interested in. Whether it's green energy or health care or jobs, Obama is only about more and more government.

Then, he talks about unleashing the private sector. Well, I don't know about you, but my thought is that if the private sector started a new business, they would probably follow the basic rules of supply and demand, and make something that people actually want.

I wonder what Obama would say to those workers now, after he told them that they are "leading the way in showing how manufacturing jobs are coming right back here to the United States of America."

When people want an electric car, they will buy it. When people rise up and demand something other than a gasoline-powered engine, companies will deliver them. But as long as Obama is president, we will get more and more programs that waste more and more money. That's the Obama way.

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45 Comments

  1. inluminatuoComment by inluminatuo
    October 9, 2012 @ 7:42 am

    Had Obama been on hand for the ground breaking ceremony of Martin Luther King’s Memorial, it may never have been built, which it DID end up getting built and designed in China, another economic paradigm of what one says and promises and what actually gets built at home. He was on hand for the ground breaking Ceremony of ObamaCare,,,,well we can expect the same results,,,government money and management followed by bankruptcy and failure with the Taxpayer footing the bill for one more failed SOCIALIST experiment blown up in our faces. Once Again our American/Kenyan Einstein’s formula for Liberal Genious Success;

    E=MC squared,,,,,,Economy = My Corruption ,,,,,squared to the second power.

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    • letmeComment by letme
      October 9, 2012 @ 12:04 pm

      Thin slices of Swiss cheese; very thin slices.

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    • noveldogComment by noveldog
      October 9, 2012 @ 12:46 pm

      Has he done anything at all right? No I can’t think of anything either. But now about that investment in China and Finland. That might turn out to be a really good investment? Why? Because he is getting millions back now from his man in China. I wonder how much of it is coming from the stimulus money sent there? I know you are probably thinking, but that is only good for him…right? But I am thinking if it is brought up, and followed up, and there is a definite connection it could turn enough folks against him so he loses….and then that investment will prove to be a winner for us. Get my drift?

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  2. sockettuemComment by sockettuem
    October 9, 2012 @ 9:04 am

    Imagine that! Another Obama adventure in wasting taxpayer dollars on useless green energy projects. Borrowed dollars. Wonder if those three day a week workers are being counted in the Obama Labor Department’s fantasy employment numbers? Math quiz for liberals: How many Obama yard sales are going to need to pay off this one?

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    • inluminatuoComment by inluminatuo
      October 9, 2012 @ 11:12 am

      The true Obama green energy project is how much energy does it take to redistribute the green from your income statement into the brown of his outgo spending,,,,,with the customary donation to the Democrat party skimmed off the top in Solyndra campaign donation political slight of hand.

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  3. powertothepeopleComment by powertothepeople
    October 9, 2012 @ 9:11 am

    All the libs see are thousands of holes to throw money into! More is better! It has to work if you put more in….right?

    So, which of Obumer’s buddies benefited by this failure? What is the problem folks….it is someone else money!

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    • dfinchComment by dfinch
      October 9, 2012 @ 10:31 am

      It was bound to have been one of his bundlers. These people are the only ones to get these grants.

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    • burningmanComment by burningman
      October 9, 2012 @ 11:01 am

      I’m not sure if it was an Obama buddy. LG is a Korean company. If there are any profits, they go to Korea.

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  4. WVFComment by WVF
    October 9, 2012 @ 9:14 am

    This really is the “Obama Way” to financially drain the United States and bring America to her knees. This man is a fraud and pathological liar. These green expenditures are essentially payback for BHO support. If BHO had ever had a real job or worked somewhere in the private sector, he would not waste our money. But, his purpose is to overload the welfare system so that it will implode while driving Amerca into the deepest financial ditch in her history. He wants to destroy America! Get it!

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    • extyrequeenComment by extyrequeen
      October 9, 2012 @ 11:39 am

      what i think is happining is that obama is doing jihad on yjis country because as a leader the power to do this and can’t be stopped…what a better way to destroy america then from within….everything he is doing is on purpose. the more money he spends the weaker we became

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    • sirodComment by sirod
      October 9, 2012 @ 2:54 pm

      I agree with this statement and this comment completely. This is the whole story of Obama. This is why he is here. He learned how to lead the masses of races and classes like the pied piper and they are dancing along as they follow him into a deep dark pit. The problem is we have to get him out of the White House or we will all end up sucked into the pit with them. Encourage everyone with a brain and the ability to do their own thinking to be sure to vote on Nov. 6 so we can clean out the people’s house and take our country back. God save our country and keep her free!

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    • way2coolComment by way2cool
      October 9, 2012 @ 5:27 pm

      Comment to WVF: You summed it up perfectly! He has attacked every area and segment of what constitutes the United States of America and is progressing to the point of ‘pulling the plug’..and down the drain we go. IF Romney wins (and I’m planning on it), o and his entire administration MUST be physically removed from the White House the very next week – giving him opportunity to be there ‘in power’ till Jan. 19th will enable him to do just that – PULL THE PLUG!

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  5. Pingback: Obama does it again - Christian Forums

  6. William WilsonComment by William Wilson
    October 9, 2012 @ 9:30 am

    They made the State Department buy so many Chevy Volts that they could not afford security at our embassies.

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    • sockettuemComment by sockettuem
      October 9, 2012 @ 9:40 am

      It’s the only way GM could sell them. Leave it to the federal government to buy an overpriced taxpayer subsidized pile of union made junk. A limited range and limited use heap that runs on overpriced batteries and requires electricity we taxpayers will shell out more for each day. Another result of absurd, reckless and unworkable green energy policies forced on Americans by liberal lunatics.

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  7. redseaComment by redsea
    October 9, 2012 @ 9:35 am

    Building the battery before the car? Pardon the stale expression, but that is putting the cart before the horse!

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    • sockettuemComment by sockettuem
      October 9, 2012 @ 9:48 am

      It’s Obama logic. Build a limited range car that requires expensive, limited-life batteries for power. One that consumes electricity, a lot of electricity. Then kill the coal industry which provides much of that electricity through the medium of coal burning power plants. Replace them with windmills and solar panels that cannot possibly keep up with the demand. Increase taxes or debt (pick one or both) to pay for this overpriced electricity. Viola! The liberal idea of a successful program.

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    • way2coolComment by way2cool
      October 9, 2012 @ 5:32 pm

      Oh…you should check out another battery company in Michigan…A123, hanging on by a thread and our money!

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  8. mrsgunnut10Comment by mrsgunnut10
    October 9, 2012 @ 9:50 am

    How many “Busted Business’s” does this one make ?? It’s past time for Obamass to go BUST on Nov 6 th. Vote Vote Vote . It’s too bad we have to feed this loser and all of his relatives for the rest of their lives. Thank you for your time. TSgt., USAF Retired.

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    • yoldsComment by yolds
      October 9, 2012 @ 1:26 pm

      Your right mrsg, we need to vote him out and keep him out, Maybe, and I say Maybe, AFTER we vote him out and regain control of the House and Senate (republicians) maybe then we can investigate his corruption and ursurpation of the WH and have him and his entire Chicago mob (Reid, Pelosi, Holder, Hillary, etc..etc..) and the likes thrown in jail for treason and negligence. My only hope is that nobody else dies because of their lack of leadership and bad polices. Thank you for your service, may God bless you and your entire family!

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  9. Dingbat36Comment by Dingbat36
    October 9, 2012 @ 10:00 am

    I Googled LG Chem to see where it is registered. Look what I came up with:

    LG Chem is an integrated South Korean chemical company that manufactures a wide range of products from petrochemicals to high-value added plastics

    and here is the link: http://www.icis.com/v2/companies/9145950/lg-chem.html

    Does this President ever pick a winner? NOPE!

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    • pistol packing mamaComment by txgoatlady
      October 9, 2012 @ 10:41 am

      So he is “saving” American GM by propping up a South Korean company? The Koreans and Japanese have car factories in our country that already employ Americans and make a product that people actually buy. He just doesn’t like those car manufacturers because they locate in right-to-work states and have managed to keep the UAW out of their business.

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    • JDZComment by JDZ
      October 9, 2012 @ 12:06 pm

      txgoatlady,

      You have hit the nail right on the head. Obama is backed by the labor unions to the hilt and everything he does either is for the unions or the wealthy contributors to his campaign. He is basically a “bought” man..and we know what that means, don’t we? The unions hate the right to work states as that is where the real auto industry in this country is primarily established and fourishing.

      This is all about adding more and more to his voter base and continuing the largest Con game in the history of our country. It is amazing to me how easily he and the liberals in this country have manipulated just about everything to gain control of our country, and how many naive Americans have willingly gone along with it.

      The liberals are screwing the Black community, the Hispanics, those on welfare and food stamps, but these people do not get it and are blinded to the con game in play. They are basically “bought” voters through the various social justice government programs and “freebies” the liberals have been pushing to the extent of bankrupting the country…but, it is working, isn’t it? Their voting base has been growing in leaps and bounds.

      The high unemployment and the unprecedented number of Americans on welfare and food stamps work to the advantage of the Democrats because these people feel obligated to continue to vote for the Dems who are pushing these social programs to the max in spite of how they continue to create more and more dependency instead of lifting these people out of this rut in which they have fallen.

      Biggest con game in the world.

      Hopefully, Romney gets elected so that we can bring things back to reality.

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    • pistol packing mamaComment by txgoatlady
      October 9, 2012 @ 3:08 pm

      You got it. Obama has taken a page out of Hugo Chavez’s book by giving government money to poor as a means of buying votes. (His opponent still got a lot of the vote despite not having access to the government coffers.) Unfortunately, the poor in Venezuela think Chavez “cares” about them and took to the streets to celebrate his win. Pretty sad when our POTUS has so much in common with Hugo Chavez. It doesn’t say much for the direction our country is headed.

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  10. LJComment by LJ
    October 9, 2012 @ 10:48 am

    Obama has a way of picking losers. How about a TV ad with him announcing the funding for all those losing investments, with a voice-over which tells the listener they all failed? And what they COST! HOWEVER, I have to say I AM in favor of trying to hand our children a cleaner, less polluted planet. I have owned a Ford Escape HYBRID for the last year. I get about 30 MPG pretty consistently ( sometimes a bit less, sometimes more). It charges the car battery itself when you step on the brake ( no plugging it into an electrical source). I am thrilled with the car, solid feel, good pick-up. Buy American folks! AND KEEP OUR CASH OUT OF THE HANDS OF THE MIDDLE EAST. As for the green energy initiatives, slow and steady. People are coming around to less damaging forms of energy. Trying to force abrupt chnages on the population will never work out.

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    • middlegroundComment by middleground
      October 9, 2012 @ 11:05 am

      Isn’t that why Ford didn’t need a CEO picked by Obama’s comiczar of auto making. The management of Ford had conditioned the company to stand against the on slot of government by building a better product in Europe, the Taurus and the Focus that could compete.

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    • sockettuemComment by sockettuem
      October 9, 2012 @ 11:09 am

      I have nothing against less polution if the goal is accomplished wisely. I do have a problem with passing on to my children and grandchildren a huge debt which they cannot possibly pay off. That is a horrible legacy. One we never hear liberals talk about as they spend, waste and spend our progeny into financial oblivion.

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    • redxsillyComment by redxsilly
      October 9, 2012 @ 12:44 pm

      People are all google eyed over the mileage their hybrids get. I drive a VW Diesel and averages around 45mpg-55mpg fully loaded with the AC on. Hybrid batteries are dirty to produce and expense to replace.

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  11. Westin SmithComment by Westin Smith
    October 9, 2012 @ 10:55 am

    To quote Margaret Thatcher, “The problem with socialism is that eventually you run out of other people’s money”. Margaret Thatcher

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    • wildfireComment by wildfire
      October 9, 2012 @ 11:08 am

      This is one of my favorite quotes. And Golda Meir’s, “They will never stop killing us until they love their children more than they hate us.” Or something like that, the they being muslims.

      Did anyone hear the annual White House budget for barack hussein and his family? George W.’s was $700 million. That’s bad enough. The current first family racks up $1.4 billion/yr. That is outrageous. When so many Americans are hurting these people haven’t half a clue.

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    • inluminatuoComment by inluminatuo
      October 9, 2012 @ 11:21 am

      Can these Liberal Progressive losers in elections and debate for once let the will of the people stand without bringing in some corrupt bought and paid for Federal appeals Judge to reverse the will of the people in judicial nullification of elections and media nullification of debate results????? The American people will argue their lawsuit in the court of public opinion called an election in November and the decision for these corruptors of our Constitutional Freedoms and will of the majority will be final. Constitution will prevail over Koran.

      It is that Muslims love their hate more than they love their own children.

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  12. Frank ODonnellComment by Frank ODonnell
    October 9, 2012 @ 11:39 am

    Plop, Plop….Fizz, Fizz….Oh What a Failure he is !

    Everything he does seems to be a Disaster.

    Big DEBT, Big Government, Part Time Jobs, etc.

    Solar Valley has been a waste of $ 90 Billion !

    Now we have the DEBT Cliff……..FY 2013 is very Ugly !

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  13. JDZComment by JDZ
    October 9, 2012 @ 12:16 pm

    What continues to amaze me is how the network TV industry (except for FOX) have bought into the Obama socialist agenda for our country. The entertainment industry has as well, but, remember, every actor belongs to a union and the entertainment unions love the liberal subsidies they have been getting (CA gives them 200 Million a year of taxpayer money when the state is going bankrupt). Look at how wealthy the executives and actors are in Hollywood…do they really need to take $200 Million a year from the state budget that is having to use IOUs to pay its bills?

    This country is in decline primarily due to this slow incremental movement toward socialism that has finally reached the tipping point for the country. If Obama is re-elected, he will move it past the point of no return and the country will eventually experience the financial collapse that is eminent. The socialist model of serfdom and confiscation of wealth (not redistribution…confiscation) will happen over time and it will kill the American spirit and wherewithal to be who we are and the exceptional country we have been.

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  14. noveldogComment by noveldog
    October 9, 2012 @ 12:52 pm

    Just connect the dots and follow the money trail. It will lead you to the truth and then…goodbye Mr. Chips, er I mean Mr. President. Too much green has been sent to failed companies. Like others have said, and I agree, how much went to those companies and how much to BHO’s reelection campaign?

    The bottom line is should he be in the White House or the BIG HOUSE….you know the one with iron bars and big old grizzly inmates….who love skinny knock kneed wimps like…..you know who!

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  15. lmorgan3Comment by lmorgan3
    October 9, 2012 @ 1:23 pm

    Another one bites the dust. Guess we could have imagined that with Obummer at the helm.

    I am all for being a conserving the planet, but not at this expense. It has to be done cleverly and without our entire country being a national park. What Obummer doesn’t understand is that all this green energy he is touting is not demanded by the people and right now is too expensive.

    I hope all of you out there will vote this man child out of office. He has no business being the President of the greatest nation on earth. STand up people and make a difference!

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  16. tedinpdxComment by tedinpdx
    October 9, 2012 @ 1:24 pm

    I remember how difficult it was to get a $1-million in venture funding for a small dot-com startup back in 1999. There weren’t very many community-organizers turned venture-capitalists running around back then, and putting together a $100-million deal with any VC-firm involved major due-diligence and hundreds of hours of highly qualified work by experienced people with formidable resumes.

    The spectacle of our President flying in on Air Force One for a 45-minute walk-through, and then allocating $200-million here, $half-a-billion there, is an insult to one of the most highly competitive (and competency dependent) industry segments in our free-market economy. I wish there were a way for Gov. Romney to make that point, without having the MSM use it as an excuse to re-paint him as an arrogant capitalist.

    Unless I’m mistaken, Mitt Romney spent years studying and earning his JD/MBA at Harvard. And my guess is there are dozens of people at Bain Capital who’s educational background (not to mention real-world experience) trumps Obama’s by a wide margin.

    Perhaps at an opportune moment in the next debate, Mr. Romney should offer President Obama the services of Bain Capital for any future ventures he’s considering. It might go something like this:

    “Mr. President, during your first term in office, you’ve managed to squander ($2-Billion?) in public funds on failed green-energy startups. I’ll make you a deal: if you are re-elected in November, I’ll make sure you have the full resources of Bain Capital at your disposal, and a team of first-rate analysts will do a thorough due-diligence on any future investment you wish to consider — at no charge.

    All I ask is that you demonstrate the good sense of taking me up on the offer before jumping in. Maybe if you do just one these deals the right way, you’ll begin to appreciate the risks that private investors face, and the difference between investing money you’ve earned, versus money taken from working tax-payers.”

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  17. porkeatingcrusaderComment by porkeatingcrusader
    October 9, 2012 @ 1:56 pm

    My first thought was “which one of his friends owns the company or benefits from it?”

    He said it was evidence “manufacturing jobs are coming back to the United States,” but NOTHING was being manufactured here…they were only ASSEMBLED here…

    LG Chem is not even an American company…it’s Korean…in fact, the LARGEST Korean chemical company…it’s wholly owned subsidiary, Compact Power Inc. (CPI) is the company referred to in the article…
    In fact, ALL of the chevy volt’s power cells were manufactured in Korea by LG Chem, then shipped here to the states where they were assembled at the CPI plant in MEE-CHEE-GUN, by UNION workers…

    Now you know who his friends were…

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  18. James AgansComment by James Agans
    October 9, 2012 @ 2:04 pm

    US Auto makers have to build an electric car that the people can get behind. The only time they are going to get behind the Chevy Volt is going to be to push it home. It simply does not have enough range for us to buy it, and it is ridiculously overpriced. The sad part about this is that we all know that they could do it, but they simply refuse to do so, because they are in bed with big oil.

    Obama has been tricked. He should have said ” Show me an electric 4 door sedan with looks that gets 200 miles on a charge at 60MPH and sells for 24K AND Ill back you.” He didn’t, and they didn’t. With free enterprise, you have to give the people what they want, or at least know what they need. He dosent.

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  19. docfreemanComment by docfreeman
    October 9, 2012 @ 4:25 pm

    LG Chem Ltd. (Korean: LG화학), often referred to as LG Chemical and also known as Lucky GoldStar Chemical, is the largest Korean chemical company and is headquartered in Seoul, South Korea.
    The 650,000-square-foot, $300 million facility was slated to produce 15,000 batteries per year, while creating hundreds of new jobs. But to date, only 200 workers are employed at the plant by the South Korean company. Batteries for the Chevy Volts that have been produced have been made by an LG plant in South Korea. LG also received sizeable tax breaks from the local government, saving nearly $50 million in property taxes over 15 years and another $2.5 million annually in business taxes. Landing the factory was hailed as a coup when shovels first hit the ground.
    And once again the tax payers are the losers, thank you Mr. President.

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  20. OldpatriotComment by Oldpatriot
    October 9, 2012 @ 5:27 pm

    Our President is a bad joke and a bad dream. My only question is ‘Where are the articles of impeachment?’. Between this and the Libya debacle, along with a few other occurrences, Watergate looks like a walk in the park. Imagine if this stuff happened to a Republican president. At least no one died in the Watergate scandal.

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  21. MutantoneComment by Mutantone
    October 9, 2012 @ 5:52 pm

    And still no one is looking at where the money is going! Yet Obama gets to over 10 million in his election funds suddenly and no one even ask where it came from?

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  22. Henry KuleszaComment by Henry Kulesza
    October 9, 2012 @ 8:30 pm

    This line pretty much says it all… “Layered in corruption, not only is tax-payer money going to Obama cronies, but time and time again, the companies fail to deliver.” It’s money in Obama’s pocket and the pockets of his cronies. To hell with the taxpayers!

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  23. Arturo R. Pasarón PérezComment by Arturo R. Pasarón Pérez
    October 10, 2012 @ 7:06 am

    Por desgracia para EU, y zonas colindantes, B. Hussein Obama, es de los prototipos de individuos que con la boca grande, convierten todo cuanto se come, en una bola de si mismo, para la prosperidad de los parásitos, pero siempre muy organizado en recoger de vuelta lo útil ansiado del trabajo ajeno para seguir comiendo. ¿De que empresa prospera recibe, el Señor Hussein sus fondos de campaña? De la empresa donde es él su director: De la empresa del fraude.

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  24. Dalton BorchardtComment by Dalton Borchardt
    October 10, 2012 @ 8:27 am

    Just recently, I did a little Fuzzy Math, like our present administration does, and came to the conclusion and estimation that the Chevy Volt will cost about $500,000 a copy if it ever gets off the ground. So far in 2011 and 2012, 13,000 have been sold (I could not find a number on how many fleet vehicles were sold to our government) The estimate by GM for those two years was 57,000 vehicles. GM at this time is already in their second bankrupt status and just waiting to give out pink slips.

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  25. ggfilthyComment by ggfilthy
    October 10, 2012 @ 2:38 pm

    I live in Michigan and that Battery plant that got 150 mill of our money …now on the brink of failure much like EVERYTHING obozo and the democlowns touch… is now only employing part time help. If you took that 150 mill and disburst it to every man woman and child (including the illegal aliens)…oh…I’m sorry undocumented Americans…NOT! … you could give EVERYONE over 300 grand! Talk about quick start of the economy. The 90 billion alocated for “green energy excrement” that was flushed down the toilet could have been used to get everyone who’s house is under water brought up to value. Again…talk about quick start of the economy! It’s obvious… helping the American people is NOT the goal. I’m baffled to what it will take to dull the sharp point on top of the regressive liberal’s pinhead.

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  26. Eagle OneComment by Eagle One
    October 11, 2012 @ 12:16 pm

    So far and as far as I know, Ford has not used or taken any bail out money from the tax payers.
    But if they begin using batteries from this government subsidized cesspool, providing this green-broke cesspool outfit ever manufactures any, then Ford will justly be in the same pig stye as GM.

    From the article:
    “The facility, which was opened in July 2010 with a groundbreaking attended by Obama, has yet to produce a single battery for the Chevrolet Volt, the troubled electric car from General Motors. The plant’s batteries also were intended to be used in Ford’s electric Focus”.

    I may have to go for another Nissan.
    I’m not ready for an electric ‘anything’ to get me down the road.
    PERIOD!

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