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The government filed court papers this week saying that A123 (AONE) can't be sold without its...

The government filed court papers this week saying that A123 (AONE) can't be sold without its approval, due to the $239M grant that the bankrupt developer of car batteries has received from the Energy Department. Johnson Controls (JCI) is battling with China's Wanxiang Group to acquire A123, although Wanxiang's bid has aroused political opposition in the U.S.
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Comments (9)
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
     
    "...although Wanxiang's bid has aroused political opposition in the U.S."

     

    No kidding. This is a new low in progressive economics: borrow from the Chinese to provide "stimulus" in the form of "green" subsidies. Then, when the subsidized venture fails, watch the Chinese buy up the carcass and do a "Bain" on it. Green jobs for China.

     

    Forward!
    29 Nov 2012, 08:58 AM Reply Like
  • BlueOkie
    , contributor
    Comments (5560) | Send Message
     
    Look at GM. Borrowed money from China, gave it to GM and then GM opens plants in China. What American jobs. This gov't especially the DOE, is picking losers at taxpayer expense. Let's fire the people in charge of these decisions.
    29 Nov 2012, 09:03 AM Reply Like
  • JohnInMA
    , contributor
    Comments (45) | Send Message
     
    Ignoring all of the macro political aspects (green energy promotion, stimulus, etc.), this is still shocking to me. The DoE is so amateurish (inept?) at money management that they didn't have sufficient contractual provisions and limitations for the non-allocated grant funds. I'm not expert, but in my experience angel, venture, and even institutional investors typically build in contract protections to address their obligations in the evolution (sale, bankruptcy) of a company.

     

    Stunning.
    29 Nov 2012, 10:35 AM Reply Like
  • acigsman
    , contributor
    Comments (6) | Send Message
     
    I just wish things would get underway one way or another, I own over 300 shares
    29 Nov 2012, 08:36 PM Reply Like
  • haleiwahu
    , contributor
    Comments (3549) | Send Message
     
    lol Acigs, that's quite an investment, say $240 or so?
    30 Nov 2012, 09:12 AM Reply Like
  • haleiwahu
    , contributor
    Comments (3549) | Send Message
     
    It's difficult to understand how a company can be worth $25.77, and trades $1-2 often daily and now is valued at only $.08. Somebody made some very bad decisions. At what point is a company considered dead money? And I wonder who believes their 1yr target est. at $3.50? That's fairly bold.
    30 Nov 2012, 09:18 AM Reply Like
  • poseidonverde
    , contributor
    Comment (1) | Send Message
     
    Haleiwahu, don't knock us small investors. I own 200+ shares of JCI and I agree with Acigsman.
    30 Nov 2012, 03:37 PM Reply Like
  • haleiwahu
    , contributor
    Comments (3549) | Send Message
     
    Actually, didn't intend to knock him, just thought he might have missed a -0- in the 300 stock number. Hope he saw the intended humor.
    2 Dec 2012, 02:58 PM Reply Like
  • acigsman
    , contributor
    Comments (6) | Send Message
     
    I saw the humor, I risked what I could, knew I could lose, however was hopeing it might get to $5 and I could make some good money. I believed in their products
    8 Dec 2012, 08:07 PM Reply Like
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