Bailout for DPS up Next for Michigan Taxpayers

It would appear that $195 Million “Bailout” just wasn’t quit enough it was just the starting point. Within 10 hours of these articles the backroom deals must have been cut? Bailout DPS Cotter Money Snyder

Anybody think this has something to do with the lawsuit that was awarded that the DPS is on the hook for? Throw in all the other liabilities’ and debt into the mix and sure looks like us taxpayer’s will pony up yet again!

In a letter to Schuette’s office dated Sept. 23 asks the attorney general to opine on whether Michigan’s Constitution was violated when the state Republican controlled Legislature passed a bill in December 2012 specifically to divert state school aid funds for the $450 million arena.

AG Schuette OKs school taxes for new Red Wings arena says it’s Constitutional
Michigan Attorney General Bill Schuette quietly issued an opinion that said state taxes for schools can legally be used to fund the arena’s construction.

So this is Constitutional for the taxpayers of Michigan to fund one of the riches people in the state as listed by Forbes? Oh my….

Gov. Snyder wants the Legislature to offer DPS up to an additional $72 million a year from Michigan Taxpayers!  Snyder faces a tough challenge in getting the money for Detroit from the School Aid Fund as he planned.

It’s no wonder when money from that fund went to building the new “Red Wings Arena” with AG Schuette writing an opinion saying it was Constitutional to do so. Wake up people you are being taken by the Republicans who have complete and total control in Lansing!

Follow the timeline in the articles below.

Foundation leader: No bailout for DPS
7:15 a.m. EST November 19, 2015
http://www.detroitnews.com/story/news/politics/2015/11/18/skillman-leader-expect-foundation-rescue-dps/76031940/

Private aid floated in DPS deal
5:04 p.m. EST November 19, 2015
http://www.detroitnews.com/story/news/politics/2015/11/19/cotter-detroit-school-debt/76069582/

DPS deal needs realistic funding
9:33 a.m. EST November 15, 2015
http://www.detroitnews.com/story/opinion/editorials/2015/11/15/editorial-detroit-schools-funding/75823016/

Price of DPS plan could spike
12:07 a.m. EDT May 15, 2015
http://www.detroitnews.com/story/opinion/columnists/ingrid-jacques/2015/05/15/jacques-editor-note-dps-plan-price/27320421/

DPS to pay $350,000 to teen suing Pugh
11:50 a.m. EST November 4, 2015
http://www.detroitnews.com/story/news/local/detroit-city/2015/11/04/charles-pugh-sexual-harrassment-case/75154496/

Schuette OKs school taxes for new Red Wings arena
Links inside article for more information.
http://www.metrotimes.com/Blogs/archives/2014/12/16/news-hits-schuette-oks-school-taxes-for-new-red-wings-arena

Forbes richest Americans list includes 11 from Michigan
http://www.detroitnews.com/story/business/2015/09/29/forbes-richest-americans-list-includes-michigan/73052340/

Michael & Marian Ilitch & family on Forbes Lists of wealthiest in Michigan
http://www.forbes.com/profile/michael-marian-ilitch/

Michigan Outrage: School Funds to be Spent on Arena
By Diane Ravitch who is a historian of education, an educational policy analyst, and a research professor is outraged by this and Michigan citizens should be as well.
http://dianeravitch.net/2014/12/21/michigan-outrage-school-funds-to-be-spent-on-arena/

Schuette Opinion: Use of tax revenue and public money for development

STATE OF MICHIGAN BILL SCHUETTE, ATTORNEY GENERAL OPINION
It is my opinion, therefore, that the Michigan Strategic Fund’s proposal to provide funds from the Michigan Community Revitalization Program for the purpose of assisting in the demolition of the Joe Louis Area after completion of the new arena at the Detroit Events Center does not violate section 88c(3)(a) of the MSF Act, which prohibits the use of such funds for the development of a stadium or arena for use by a professional sports team.  ~ Attorney General BILL SCHUETTE

Here is what the Michigan State Constitution says.
Article 9, § 11 of the Michigan Constitution established a State School Aid Fund funded by various tax revenues, and provides in part: There shall be established a state school aid fund which shall be used “exclusively” for aid to school districts, higher education, and school employees’ retirement systems as provided by law.

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Michigan Lawmakers Giveaway over $7 Billion in Subsides

Taxpayer Funded Business Subsidies: Profits & Tax Breaks for them “Higher Taxes” for us Citizens

Business Subsidies or Road Tax Increase? In May you will decide at the Ballot Box. What do Lansing lawmakers do when they commit “grand theft” of our road fund monies on subsidies for economic development instead of on Michigan roads?

They let the taxpayers hang themselves by voting on a ballot proposal “tax increase” holding our roads hostage if we don’t vote yes.

The MEDC is like a bad movie titled, Michigan Taxpayers Subsidize the Wealthiest Businesses or how Michigan Taxpayer Funded Subsidies supply funds for Corporation profits.

“These subsidy awards are getting out of control,” said Philip Mattera, research director of Good Jobs First and principal author of the report.

http://www.wcpo.com/money/local-business-news/new-study-ranks-ohio-third-in-the-award-of-large-public-subsidies-for-company-expansion

Jennifer Granholm pursuing Toyota engineering center Economic Money

In 2005, Toyota landed a $38.9 million tax credit from the Michigan Economic Development Corp.’s Michigan Economic Growth Authority (MEGA) board to fuel the expansion of its technical center in York Township.

http://www.annarbor.com/business-review/bob-lutz-criticizes-jennifer-granholm-for-pursuing-toyota-engineering-center/

Michigan Taxpayers Pony Up Subsidies for Toyota…Yet Again!

What’s the old saying, third times a charm? In this round of taxpayer funded subsidies The Michigan Strategic Fund has awarded the automaker another $4 million. In addition to this subsidy, Toyota received a State Education Tax Abatement with an estimated value of about $1.3 million.

http://www.detroitnews.com/story/business/autos/foreign/2014/12/18/toyota-invests-ann-arbor/20580241/

MEDC Approves Incentives for Toyota

The Michigan Economic Development Corporation announced that Toyota has been awarded $4 million. York Township is additionally considering approval of local incentives in the form of a 12-year property tax abatement that could save the company up to $4.6 million.

The project was secured through a collaborative effort involving MEDC, York Township and Snyder’s Ann Arbor SPARK.

http://www.economicdevelopmenthq.com/blog/michigan-economic-development-incentives-toyota-jobs/

One of Ann Arbor SPARK board of directors are: Charles Gulash, vice president, Toyota Motor Engineering & Manufacturing. Can you say conflict of interest?

http://www.annarborusa.org/about-us/news/SPARK-announces-new-board

This isn’t the first incentive dance Toyota has been to. In 2008 as a Campaign Manager for a State Rep. candidate I attended a meeting with him in York Township and he spoke at that meeting against the first subsidy. The promise then was 400 jobs that never materialized!

Toyota said it plans to build a new facility on its Michigan campus “subject” to final approval of state and local “incentives” to accommodate the 250 workers. That subject to “local incentives” is code word for us the Michigan taxpayers who will pony up through the “failed” MEDC just mark my words!

http://www.freep.com/article/20140428/BUSINESS01/304280056/toyota-moving-texas-los-angeles

Toyota moves bolster Michigan Tech Center with Taxpayer money

http://www.detroitnews.com/article/20140428/AUTO0104/304280038/0/auto01/Toyota-shift-North-American-HQ-Texas-add-jobs-Michigan

Toyota moves thousands of jobs from socialist California to capitalist Texas

Why not the “Comeback State” Michigan? I’ll tell you why it’s no different than California! Michigan will get 250 jobs in Snyder’s Ann Arbor if the taxpayer subsidies are sufficient which they already received in 2008.

http://winteryknight.wordpress.com/2014/04/29/toyota-moves-thousands-of-jobs-from-socialist-california-to-capitalist-texas/

Toyota & 5,000 Jobs to Leave California for Texas

http://thepeoplesrepublicofcalifornia.blogspot.com/2014/04/toyota-5000-jobs-to-leave-california.html

Take a look at the incentives Toyota received from different state and local offices to locate their plant in certain locations. From Wikipedia: Toyota has received a little over a billion USD in federal, state, and local government tax subsidies and incentives including: * $323.9 million in subsidies for the plant in Tupelo from Mississippi taxpayers. * $371 million in subsidies for the Georgetown plant from Kentucky taxpayers. * $227.5 million in subsidies and tax incentives for the Tundra plant by Local, Texas, and U.S. taxpayers.

Michigan has the most megadeals, with 29, followed by New York with 23; Ohio and Texas with a dozen each; Louisiana and Tennessee with 11 each; and Alabama, Kentucky and New Jersey with 10 each.

“Megadeals” are defined as taxpayer funded incentive packages (subsidies) worth more than $75 Million. This does not include those subsidy giveaways under the $75 Million benchmark such as the Film and Movie Producer subsidies given away here in Michigan or smaller business subsidies.

In dollar terms, New York is spending the most, with megadeals totaling $11.4 billion. Next is Michigan with $7.1 billion, followed by five states in the $3 billion range: Oregon, New Mexico, Washington, Louisiana, and Texas. Twenty-one states have megadeals costing $1 billion or more.

Some of the deals involve little if any new-job creation; indeed, one in ten of the deals involve the mere relocation of an existing facility, often within the same state and sometimes within the same metropolitan area. Some of these retention deals were granted in so-called “job blackmail” episodes.

The La-Z-Boy Corporation in Monroe pulled one of these so-called “job blackmail” episodes when it threatened to move out of Monroe unless the taxpayers of Michigan provided subsidies for building their new headquarters, the MEDC caved and awarded then up to $12.7 Million in taxpayer money.

La-Z-Boy Awarded $3.7 Million “Plus” from The Michigan Strategic Fund

Furniture maker plans to build a new world headquarters in Monroe after state approval this week on a $3.7 million incentive package. This “taxpayer funded” package could be worth $12.7 million over nine years when the package’s grants and tax breaks are combined and that is contingent on La-Z-Boy adding 50 jobs.

Dan Swallow, director of economic and community development for Monroe, said the two grants and the tax abatement were paramount to keeping La-Z-Boy fully committing to staying in Monroe. The company had stated it would remain in Monroe if everything could be worked out, but if it couldn’t, it might be forced to go to another county or state.

http://www.toledoblade.com/Retail/2012/12/21/La-Z-Boy-a-big-step-closer-to-new-headquarters-Michigan-OKs-3-7M-aid-for-50M-project.html

Right after La-Z-Boy got our tax dollars the company reported third-quarter profits that soared. Michigan-based La-Z-Boy said Tuesday its operating income was up 37 percent in the fiscal 2013 third quarter, to $23.3 million, compared with $17 million in the same quarter of 2012. The company ended the quarter with $112 million in cash and equivalents.

http://www.prnewswire.com/news-releases/la-z-boy-reports-fiscal-2013-third-quarter-results-191882971.html

Are corporate subsidies worth the money? 

http://www.cbsnews.com/news/are-corporate-subsidies-worth-the-money/

History of the MEDC: The Michigan Economic Development Corporation (MEDC) was started by Republican Governor John Engler expanded by Democrat Governor Jennifer Granholm and put on steroids by Governor Rick Snyder.

The Michigan Jobs Commission (MJC) By Joseph P. Overton and Aaron Steelman, published on April 1, 1996

https://www.mackinac.org/5327

Study: Michigan Economic Development Corporation Published on May 4, 2004 (Now Part of The Department of Labor and Economic Growth)

http://www.mackinac.org/6561

A Brief History of State Economic Development By Michael D. LaFaive, published on Oct. 6, 2005

http://www.mackinac.org/7375

THE LOCAL DEVELOPMENT FINANCING ACT – Act 281 of 1986

http://www.legislature.mi.gov/%28S%28iwwxm445lieanr555ydmnd2v%29%29/mileg.aspx?page=GetObject&objectname=mcl-Act-281-of-1986

Governor John Engler appoints Board of Directors for the new Michigan Economic Development Corporation. The two most notable board members are Governor John Engler (general chair); Rick Snyder, Avalon Investments, Inc., Ann Arbor (chair)

http://www.michiganbusiness.org/press-releases/engler-appoints-board-for-new-michigan-economic-development-corporation/

Rick Snyder’s two Venture Capital Companies Avalon Inc. hit with liens for unpaid taxes

http://www.annarbor.com/business-review/rick-snyders-venture-capital-companies-hit-with-liens-for-unpaid-taxes/

John Engler assumes leadership as Business Roundtable Preesident. Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies working to promote crony public policy.

http://businessroundtable.org/engler

Economic Development Subsidies Report Megadeals: By Philip Mattera and Kasia Tarczynska with Greg LeRoy. “Megadeals” are defined as taxpayer funded incentive packages (subsidies) worth more than $75 Million. This does not include those subsidy giveaways under the $75 Million benchmark such as the Film and Movie Producer subsidies given away here in Michigan or smaller business subsidies.Economic Subsidies by State 1

Click “Full report” in the link below to view how over $7 Billion of your tax dollars has been wasted on subsidies here in Michigan since 1986.

http://www.goodjobsfirst.org/publications/megadeals-largest-economic-development-subsidy-packages-ever-awarded-state-and-local-go

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Governor Snyder’s “Gay Advocate” Puppeteer Wants Your Help

A Snyder Cronyism

URGENT HELP NEEDED: An internal poll of the Michigan Femdom Fund has shown that Governor Snyder is up 100% to 0% over his challenger Mark Schauer. This “internal” poll must have only included “pegging” their staff members for these results? A Femdom Fund Logo

But this November the stakes are too high and we need your help. Please consider making a donation today of $20, $35, $50 or whatever you can generously afford to help us assure that Gov. Snyder is re-elected as to advance the Common Core, Gay Marriage and other progressive issues that Gov. Snyder will support.

For those low information voters and party loyalist I have compiled a list of bullet points, headlines and search phrases as to make it harder for those types to justify to themselves how they cast their votes!

Just because someone runs for elected office with an (R) after their name doesn’t necessarily mean they espouse to the Republican platform, planks, principles, traditions and values of the Party.

Greg McNeilly, and the DeVos funded Freedom fund

GLEP and its Devos funded operator Greg McNeilly supports both Common Core and Homosexual marriage

Greg McNeilly, one of the state’s top Republican consultants and operatives.

Greg McNeilly is a Republican political strategist and the director of the Michigan Freedom Fund.

McNeilly was the General Consultant for the Michigan Republican Party to then Chairman Ronald Weiser.

McNeilly served as campaign manager for Michigan gubernatorial candidate Dick DeVos.

On 22 March 2014, McNeilly married his long time gay lover Douglas Meeks, a Lansing attorney. A Greg McNeilly & Husband Douglas Meeks

McNeilly was a campaign consultant for Dick DeVos for Governor; Dick Posthumus

DeVos family has been there for Rick Snyder every step of the way

Pamella DeVos appointed to statewide arts council by Governor Snyder

Snyder praises Betsy DeVos for calling on Dave Agema to resign his RNC position “HUGE RED FLAG”

The DeVos family has made huge campaign contributions to Snyder campaign

Truth Squad: Special treatment given to Gov. Snyder’s cousin on State Contract
http://www.mlive.com/lansing-news/index.ssf/2014/10/michigan_governors_race_2014_w.html $41 million for Snyder's Cousin George

Republicans pass law that doubled limits on Michigan campaign donations
http://archive.freep.com/article/20140131/NEWS06/301310110/governor-rick-snyder-super-bowl-ad-campaign

Snyder shuts down “NERD Fund” rather than to disclose donors
http://www.freep.com/article/20140325/NEWS06/303250063/

Former Head of “NERD Fund” Richard Baird Now on State Payroll
The taxpayers of Michigan now get to pay his salary!
http://www.freep.com/article/20140325/NEWS06/303250063/

DBI Business Owner George Snyder Cousin to Gov. Snyder Gets Lavish State Contract
“Not only does Snyder’s cousin see his furniture contract doubled to $41 Million he gets the inside track on no-bid contracts awarded by the MEDC.
http://www.mlive.com/politics/index.ssf/2014/05/truth_squad_no_foul_on_dems_qu.html A Crony Snyder Boy Rich Baird

Gov. Rick Snyder moves top aide Rich Baird onto state payroll, off NERD Fund
“We’re glad he’s now an official part of the team.” ~ Governor Rick Snyder
http://www.mlive.com/politics/index.ssf/2013/10/michigan_gov_rick_snyder_moves.html

With the Governor Rick Snyder administration the “Friends and Family” Program along with the crony “Business Buddies” Fund are alive and well in Lansing and it’s costing “you” the Michigan taxpayers!

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Detroit Bailout Leaves Michigan Taxpayers On The Hook For More Than $195 Million – AND A LOT MORE!

1 Detroit Aid $195M

Below you will find just a few examples of how Michigan Taxpayers are on the hook for a hell of a lot more than this “Grand Crap Sandwich Bargain” of $195 Million of your tax dollars! If this isn’t leaving a bad taste in your wallet just wait, now that this is done they are working real hard for you up in Lansing to pass legislation as to raise your Gas Taxes too. 2 FilmTaxCredit

While Detroit Goes Bankrupt, Michigan Taxpayers Hand Disney’s ‘OZ’ Nearly $40 Million in Film Credits and this is but one example there are numerous other Film Subsidies that have and will be handed out to Obama’s Hollywood supporters!

The hard part to swallow is our legislators all think it’s funny that they are spending our tax dollars on this wasteful venture that corrupt politicians created in the first place. They won’t be out done they will all laugh when they pass yet more tax increases on we Taxpaying Citizens of Michigan. 3 Detroit Crony Capitalism

Can any Taxpayer in Michigan explain to me why our taxes should be used for the rich and wealthy as to continue to build their empires?

The Taxpayers of Michigan have had to pony up over $515 Million in subsidies for Ford Field, Comerica Park and the New Red Wings Arena not to mention the Pontiac Silverdome which was built and maintained with a taxpayer subsidy buried in an Agriculture Bill.

http://www.michigancapitolconfidential.com/18040

State Awards $830K Taxpayer Money to new Detroit Grocery

4 Detroit GroceryMore than $1.2 million in grants and loans have been awarded to the owners of the grocery and retail center it anchors. The “failed” Michigan Economic Development Corp. (MEDC) announced the funding this week. The money was approved by the Michigan Strategic Fund.

The project was awarded a $830,000 grant by the state of Michigan’s economic development agency. That’s on top of Detroit Economic Growth Corp. providing a $200,000 loan and a $225,000 loan through Invest Detroit, which funds city development projects.

http://www.detroitnews.com/article/20140530/BIZ02/305300034

$127.5M in aid OK’d for projects in Pontiac, Detroit, Cheboygan
The Michigan Strategic Fund approved a request today for a $125 Million Taxpayer Funded subsidy to Green Box NA Michigan for a yet-to-be-built plant in Detroit. The Michigan Strategic Fund is just one of the many tentacles of the “failed” Michigan Economic Development Corp. (MEDC).
http://www.freep.com/article/20140527/BUSINESS06/305270132/Michigan-Strategic-Fund-Pontiac-Assembly-Plant

State to spend up to $20 Million to improve Belle Isle 5 Belle Isle Grand Prix
The state (we the taxpayers) said it plans to spend up to $20 million to improve the park during the first 18-36 months of state management.
http://www.reuters.com/article/2013/10/01/us-usa-detroit-belleisle-idUSBRE99018R20131001

Belle Isle Roads Resurfacing
For the 2014 Grand Prix in Detroit on Belle Isle $3,500,000 Million allocated on December 18, 2013 from the states Trunkline Fund. So again the rich and well connected benefit from we taxpayers such as Roger Penske with his “Team Penske” motorsports who raced and won at the Grand Prix this year on Belle Isle.  
http://www.michigan.gov/documents/mdot/OGA_Dec12_State_List_442695_7.pdf

6 Detroit M1 RailWayne County OK’s $3 Million Taxpayer Money on road fixes for new M1 Rail street car project
Michigan Taxpayers should question why the money wasn’t being spent to fix potholes. “The money being utilized for this project is supposed to be restricted for road purposes.”  Being as Detroit and Wayne County both are broke and facing financial issues with Bankruptcy along with the state in control how could this be?
http://www.detroitnews.com/article/20140603/METRO05/306030086

Could Wayne County Go Bankrupt Next?
With the news of Detroit’s bankruptcy still sinking in some financial experts say Wayne County could be next. But other cities are facing similar financial difficulties as well…can you say Flint as but just one other example?
http://detroit.cbslocal.com/2013/12/05/561511/

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Detroit City Airport to get Michigan Taxpayers “Bailout” Too

Detroit City Airport to get $28.5 Million Taxpayer Money in Revised Bankruptcy Plan Detroit City Airport Grave Yard

The fleecing of Michigan taxpayers money continues with revised bankruptcy plan. The $28.5 million earmarked in Detroit emergency manager Kevyn Orr’s revised restructuring plan would also set aside money for a study of the airport’s role in its east-side neighborhood.

The money would come from the city’s anticipated bankruptcy settlement and the total could go as high as $40 million according to some reports. The city’s general fund has subsidized the airport in recent years because its revenues “have fallen far short of expenses,” Orr’s plan says.

This is on and above the $350 Million “bailout” proposed by Governor Rick Snyder in which the Republican controlled legislature is currently working on about a dozen Bills in Lansing in regard to this “bailout.” Detroit Bankruptcy

In 2013, the city’s general fund contributed $300,000 to fund the airport’s operations. That contribution increased to $600,000 in 2014. Some would say why not privatize the airport as to take the burden off Michigan taxpayers.

While that is a novel idea the problem with that is anyone that would purchase this airport would most likely receive taxpayer funded subsides through the “failed” MEDC under the guise of economic development and job creation.

While reading the comments on this article this one really hit home! “The city needs a jewel of a landing facility for all those revitalization fairies arriving on their little pink flying unicorns.” Wasn’t this the airport of choice for Kawme and his corrupt buddies who robbed the city of Detroit and caused this bankruptcy?

http://www.freep.com/article/20140404/NEWS01/304040017/Detroit-bankruptcy-plan-calls-for-revitalizing-Detroit-city-airport

Detroit City Airport PROPOSED MAJOR CITY AIRPORT IMPROVEMENTS Detroit City Airport 2

Where is Detroit going to get this money from being that it’s in bankruptcy? I’ll tell you…all the taxpayers of Michigan.  TOTAL INVESTMENT: Approximately. $40 MILLION.

http://www.detroitmi.gov/DepartmentsandAgencies/Airport/Improvements.aspx

Detroit’s Spruce Goose: City Airport

The city of Detroit struggles in bankruptcy and one way to move Detroit forward during and after bankruptcy is by unloading municipal assets, especially the assets that have been dragging the city down.

http://www.michigancapitolconfidential.com/19677

Detroit’s Lonely City Airport Might See $28M in Upgrades 2 Bailout Detroit too-big-fail

Kevyn Orr’s latest bankruptcy plan involves spending $28.5M to improve Coleman Young International Airport, commonly known as City Airport. The improvements would add a few modern amenities, potentially luring a commercial airline. The terminal hasn’t seen regularly scheduled passenger service in 14 years.

http://detroit.curbed.com/archives/2014/04/city-airport-could-see-millions-in-improvements.php

Detroit City Airport

The city is also exploring whether to lease or sell the Coleman A. Young Municipal Airport. Until a new strategy is decided, the city will continue to subsidize and operate the airport because it doesn’t want to trigger a requirement to repay prior Federal Aviation Administration grant money, Orr’s office said. 

http://www.detroitnews.com/article/20140221/METRO01/302210096

Orr’s Detroit bankruptcy Detroit Bankruptcy 1

http://www.freep.com/article/20140221/NEWS06/302220011/governor-rick-snyder-detroit-bankruptcy-plan-of-adjustment

Detroit proposes lower pension, creditor payouts in new revised bankruptcy plan 

http://www.freep.com/article/20140331/NEWS01/303310141/Detroit-bankruptcy-plan-adjustment-disclosure

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China Benefits from Michigan Taxpayers with our Lansing Legislator’s Help

Taxpayers Lose Again, Fisker Automotive Sold to China’s Wanxiang
Wanxiang bought Fisker’s battery supplier, A123 Systems LLC, last year through a similar bankruptcy sale. A123 and Fisker were both recipients of a controversial U.S. Department of Energy loan program meant to support clean energy technology. Michigan taxpayers also suffered dearly when the quasi UN-elected MEDC give away tax dollars to A123 Systems in taxpayer funded subsidies.
http://www.reuters.com/article/2014/02/18/us-fisker-wanxiang-sale-idUSBREA1H1LM20140218Snyder-China_GuvOffice

Michigan‘s A123 Systems Files for Bankruptcy
State Battery-Plant Subsidy was a “Risky Venture” from the onset with several economist warnings. The Michigan and Government-funded battery maker files for bankruptcy after receiving $249.1 million federal grant money (taxpayer dollars). A123 Systems received a $100 million “cash subsidy” (taxpayer dollars) from the state of Michigan for a 75-acre facility the company had leased in Romulus.

The subsidy was in the form of cash because the plant had been granted “renaissance zone” status by the Michigan Economic Development Corp. This is yet another in the long line of failures of the Michigan Economic Development Corp. an entity that should and must be abolished as to cut the size and scope of Michigan Government and save the taxpayers money!
http://www.michigancapitolconfidential.com/13557

A123 Systems won another $125 million in tax credits and incentives from the Michigan Economic Development Corp in spring 2009 and a $10 million cash grant from the state in fall 2008. Just move along nothing to see here Michigan Taxpayers just more of our tax dollars down the drain courtesy of the “failed” Michigan Economic Development Corp. (MEDC).
http://www.annarbor.com/business-review/a123-systems-no-assurance-it-can-continue-to-operate-as-a-business-filing-says/

China’s Wanxiang Corp. Bought A123 Systems now Fisker
http://www.bostonglobe.com/business/2014/02/18/will-purchase-hybrid-car-firm-make-player-auto-industry/PrkLDrmgtN8UJR2mRdEv6J/story.html

Wanxiang Group Buys American Battery Maker
Michigan taxpayers ponied up a plenty in subsidies for this failed battery maker that was purchased by China’s Wanxiang America Corp.through the “failed” MEDC.
http://www.nytimes.com/2013/01/30/business/wanxiang-group-buys-american-battery-maker.html?_r=0

Wanxiang buys A123 systems
https://www.google.com/#q=Wanxiang+buys+A123+systems

Fisker’s assets to go to Wanxiang
Along with the wreckage of A123 and countless other “stimulus”-driven financial black holes the Chinese have acquired, the government in Beijing and citizens of The People’s Republic thank the United States for both borrowing money from China and then using it to buy assets it sells back to them at pennies on the dollar. Well done Michigan Lawmakers and the “failed” MEDC along with our lawmakers in D.C. more government for everyone!
http://www.autonews.com/article/20140218/OEM05/140219858/fisker-wins-approval-to-sell-assets-to-chinas-wanxiang

Bankrupt Fisker’s assets to go to China’s Wanxiang
https://www.google.com/#q=Fisker%27s+assets+to+go+to+Wanxiang

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