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HOT LINKS: Goldman & JPM Busted, Al Gore's Investments

Obama gets into an electric Ford Focus as he attends the groundbreaking of a factory for Compact Power Inc. in Holland, Mich, July 2010.


OBAMA FAILS AGAIN - Green Company That Got $150 Million From Taxpayers To Make Chevy Volt Batteries Is Now Laying Off Workers Before Even ONE Battery Has Been Built

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.

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 by the South Korean company. Batteries for the Chevy Volts that have been produced have been made by an LG plant in South Korea.

The factory was partly funded by a $150 million grant from the U.S. Department of Energy. 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.


Morning links:

'The Lagarde List' Leads To Second Greek Millionaire Suicide

Goldman Busted By SEC For 'Pay To Play' Violations - Reuters

JPMorgan Must Pay $18 Million to Heiress Over Derivatives Fraud - Bloomberg

HORRIBLE INVESTOR: Al Gore's Green-Energy Investment Failure

Mega-Rich CEO Tells Workers: You'll Be Fired If Obama Is Re-Elected (must read)

Democrat insiders WORRIED by Obama's "Big Bird" campaign turn - Reuters

S&P downgrades Spain's credit rating, again

Can Global Riots Be Predicted?  Experts Watch Food Prices - NPR

Abby Martin: Why Isn't The Media Giving The NDAA More Attention?

U.S. Downgrade Seen As Upgrade As U.S. Debt Is Dissolved - Bloomberg

Fla Governor Accidentally Gives Out Phone Sex Number Instead Of Meningitis Hotline

Pro-life Tennessee congressman persuaded mistress to get an abortion

Passenger says vindictive TSA agent 'flicked me in the testicles' during pat-down




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Reader Comments (8)

Bloomberg Becomes First Media Company To Go WindMade



The media giant, Bloomberg, has good reason to brag about being sustainable. It is the first news organization in the world to obtain WindMade label certification. Launched in November 2011 by the wind turbine maker, Vestas, the WindMade label is backed by the UN Global Compact and conservation group, World Wildlife Federation (WWF). WindMade requires participating companies to obtain at least 25 percent of their electricity from wind power. Bloomberg went far beyond that as the company’s U.S. operations obtain 58 percent of the electricity used from wind. In addition, Bloomberg obtains 25 percent of its power from biomass.
Oct 11, 2012 at 7:12 AM | Unregistered Commenterjohn
Art Cashin: Fed Can't Protect Market From 'Bombs Falling'


Good clip from a few weeks ago for anyone who missed it.
Oct 11, 2012 at 12:11 PM | Registered CommenterDailyBail
Busted would be if they ended up in prison anything else is a joke on the people since fines are passed on to customers. obama is the most corrupt president in history bar NONE. He protected them from pitchforks and the statute of limitations is up with his term. If people vote that unscrupulous ass clown back into office they forfeit their right to bitch about financial crime.

Who really unchained Wall Street?


Report: Cronyism, political donations likely behind Obama, Holder failure to charge any bankers after 2008 financial meltdown


Oct 11, 2012 at 12:16 PM | Unregistered CommenterLadyLiberty
Sprint Nextel Corp. (S) said it’s in talks with Softbank Corp. (9984) for a “substantial” investment from the Japanese carrier, potentially shifting the balance of power in the U.S. telecommunications industry.

Oct 11, 2012 at 1:11 PM | Registered CommenterDailyBail
I love you LL, but you're a tough critic sometimes. Please understand that my goal is to to create awareness. Awareness happens when people read stories. And people only read stories if they are attracted to the headlines.

Remember that my headlines go out on twitter, facebook, reddit, digg, stumble upon, lots of places, and the headline is the only thing that will make someone click thru and read. Spicing up headlines is part of the job. Now, I try not to stoop to the level of Business Insider and their tendency to say ('Greatest, Best, Craziest You'll Ever See', etc.), but I do use MUST SEE and a few other words like BUSTED, CLASSIC, BRILLIANT and HILARIOUS sometimes to help draw readers. I find it annoying myself, and I don't like doing it, but I really don't have any choice. Why? Because it actually works.

There's your 'inside blogging' comment for the day...;)
Oct 11, 2012 at 1:21 PM | Registered CommenterDailyBail
This happened in Nigeria all the time.
Oct 11, 2012 at 4:25 PM | Unregistered CommenterTC
Another Obama stimulus investment that really did not exist. How many are there? How big? How small? How many?
I know of a solar plant in Amargosa, Nevada that was given millions...never happened.
Yet we have to pay the bill...even though it is fake. Once again the sheeple will simply allow these things to happen.
Spain, Greece, Iceland have guts. Americans...not really.
Oct 14, 2012 at 10:21 AM | Unregistered CommenterMia
Mia, do you have any info on that particular project? At least enough so I can bird dog that one?
Oct 14, 2012 at 10:52 AM | Unregistered Commenterjohn

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