In April 2010, President Obama hailed a green energy company, A123 Systems Inc., as a success story, after granting it $249 million in taxpayer money in 2009 to build rechargeable batteries for electric cars.
Obama said the grant, part of his stimulus, would let A123 "hire more than 120 workers by the end of this year, more than 1,000 by the end of next year, and more than 3,000 by the end of 2012."
So here we are, at the end of 2012 and what has A123 done with that grant? Frittered it away, apparently. The company filed for bankruptcy Tuesday. |
