Search Fishin.com

Results 1 to 7 of 7
  1. #1
    Join Date
    Dec 1969
    Location
    Richmond, Kentucky
    Posts
    2,187
    Post Thanks / Like

    A123 Battery Builder...another Obama "Green Jobs" Failure


  2. #2
    Join Date
    Dec 1969
    Location
    Huntsville, AL
    Posts
    2,378
    Post Thanks / Like
    According to the story, one key event that made this company fail was GM selecting a South Korean company over these guys to supply the batteries for their Volt product. Nobody at GM should ever complain about Americans not buying American cars.

  3. #3
    Join Date
    Dec 1969
    Location
    Richmond, Kentucky
    Posts
    2,187
    Post Thanks / Like
    Quote Originally Posted by Devils Horse View Post
    According to the story, one key event that made this company fail was GM selecting a South Korean company over these guys to supply the batteries for their Volt product. Nobody at GM should ever complain about Americans not buying American cars.
    When a foreign car maker's product is superior to a domestic, and at an equal or better price point, I can't fault people for buying the better mousetrap. Build a better mousetrap with just as much value if you want loyalty.

    It's any company's job to build the best product at the best value to the consumer. If the South Koreans build a better battery than the Americans, or had the better track record to rest all of GM's laurels on, than so be it. In a battery powered car, the battery is pretty dang important. Is GM supposed to lay their nuts on the table for unknown A123, just because they are an American Company and got a chunk of money from the Obama? Gamble on a company that hasn't proven itself in the battery business, to provide the key component for the vehicle that was supposed to be GM's savior? If A123 goes bankrupt and their products fail, GM is screwed.

    I can't say that I blame them for going with the more established company. Somebody at GM didn't believe in the sustainability of A123...and guess what? They were right.

    A123 got a chunk of cash and went belly-up...but I'll bet not many of their executives missed many paychecks.

    Another example of why government needs to stay the heck out of private enterprise. If you want to be the battery supplier for GM, build your way up to it and earn it...don't just expect it to be handed to you because you got a bunch of money from the U.S. Government. GM has a business to run, and selecting key component suppliers is huge.

  4. #4
    Join Date
    Dec 1969
    Location
    Lexington, KY
    Posts
    11,441
    Post Thanks / Like
    Quote Originally Posted by MrSplitshot View Post
    When a foreign car maker's product is superior to a domestic, and at an equal or better price point, I can't fault people for buying the better mousetrap. Build a better mousetrap with just as much value if you want loyalty.

    It's any company's job to build the best product at the best value to the consumer. If the South Koreans build a better battery than the Americans, or had the better track record to rest all of GM's laurels on, than so be it. In a battery powered car, the battery is pretty dang important. Is GM supposed to lay their nuts on the table for unknown A123, just because they are an American Company and got a chunk of money from the Obama? Gamble on a company that hasn't proven itself in the battery business, to provide the key component for the vehicle that was supposed to be GM's savior? If A123 goes bankrupt and their products fail, GM is screwed.

    I can't say that I blame them for going with the more established company. Somebody at GM didn't believe in the sustainability of A123...and guess what? They were right.

    A123 got a chunk of cash and went belly-up...but I'll bet not many of their executives missed many paychecks.

    Another example of why government needs to stay the heck out of private enterprise. If you want to be the battery supplier for GM, build your way up to it and earn it...don't just expect it to be handed to you because you got a bunch of money from the U.S. Government. GM has a business to run, and selecting key component suppliers is huge.
    Agree with this! If he wants to invest in another company let him do that next year while he is unemployed. Heck with all his czars and wife's entourage the unemployment rate will sky rocket when they become unemployed.

  5. #5
    Join Date
    Sep 2009
    Posts
    2,177
    Post Thanks / Like
    A123 has sold out to another American Battery builder, Johnson Controls . I don't remember for how much, but they were talking about selling out to China. I'm glad they sold to another company that is American made. the story was on NPR radio yesterday.

  6. #6
    Join Date
    Dec 1969
    Location
    New Albany, Indiana.
    Posts
    8,955
    Post Thanks / Like
    Quote Originally Posted by waterdog101 View Post
    A123 has sold out to another American Battery builder, Johnson Controls . I don't remember for how much, but they were talking about selling out to China. I'm glad they sold to another company that is American made. the story was on NPR radio yesterday.
    Just means Johnson Controls purchased a company for pennies on the dollar, CREATED by Obama. Yep. GREAT.

    You tax dollars purchased Johnson some kickass equipment.

    Later,

    Geo

  7. #7
    Join Date
    Sep 2009
    Posts
    2,177
    Post Thanks / Like
    Quote Originally Posted by GeoFisher View Post
    Just means Johnson Controls purchased a company for pennies on the dollar, CREATED by Obama. Yep. GREAT.

    You tax dollars purchased Johnson some kickass equipment.

    Later,

    Geo
    I tried to find the NPR story, but couldn't. I did find a story on where Johnson Control bought a123. and they payed 125 Million for it. about 50 cents to the dollar. a123 got a grant for 249 million. and back in Aug, of this year. China offered a123 465 million for 80% of the company. it don't make sense that they would sell it for 125 million, to Johnson Control. and not sell 80% to China for 465 million. but that's the way the article read.

Similar Threads

  1. Replies: 14
    Last Post: 04-10-2014, 01:31 AM
  2. Replies: 17
    Last Post: 07-26-2012, 11:06 PM
  3. Replies: 5
    Last Post: 05-17-2012, 02:13 PM
  4. "king obama" signs ocean protection policy
    By Tim_T in forum "Off Topic" Posts
    Replies: 2
    Last Post: 07-23-2010, 06:28 AM
  5. What will Obama's "holiday" next Tues cost the economy?
    By GeoFisher in forum "Off Topic" Posts
    Replies: 6
    Last Post: 10-30-2008, 01:31 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •