U.S. Battery Company is Sold to China (38)
HealthyLiving: The Detroit News reports that China’s Wanxiang Group Corporation will acquire almost all of bankrupt A123 Systems Inc. for $256 million. The deal includes all of the American battery manufacturer’s grid and commercial business assets as well as the company’s facilities in Michigan, Massachusetts and Missouri. Meanwhile, Woodridge, Illinois-based Navitas Systems will purchase all of A123 Systems’ government contracts for $2.25 million.
Previously, Johnson Controls (An American owned company) was a leading bidder for the bankrupt EV battery manufacturer, but that company withdrew its bids from the bankruptcy auction after declining to match Wanxiang’s highest bid (Johnsons bid was $5 Million below Wanxiang's). But the final sale will be subject to approval by the bankruptcy court handling the case in Delaware, and some members of Congress have reportedly raised concerns over the sale.
Rep. Bill Huizenga, R-Michigan, said he was concerned about Wanxiang taking over A123 Systems because of the battery maker’s close ties with the US Defense Department. Huizenga has been quoted as saying, “I am concerned about the government of China having access to sensitive technologies being used by our military forces.”
This isn’t the first time we’ve heard those rumblings. Back in August, several US automotive executives said Wanxiang’s purchase of A123 Systems could put industry trade secrets at risk, including cutting-edge lithium-ion battery technology. Likewise, November saw US senators John Thune, R-South Dakota, and Chuck Grassley, R-Iowa, raise concerns over the Chinese company’s interest in the bankrupt battery maker.Prior to A123's bankruptcy filing, Wanxiang attempted to purchase an 80 percent stake in the battery maker for $465 million.A123 Systems received bailout money from U.S. Taxpayers, 24 months ago. Now they are being bought by China. The above offer of $465 Million is $200 Million more dollars that was offered prior to the bankrupcy filing. Why was the offer refused??? Now they will most likely own the company and Americans will be working for the Chinese! I wonder, do these Americans want to work for the Chinese?
Why was China even allowed to bid? Will the jobs remain here or shut down and moved to China where labor is cheaper?? This does not settle well with me.
How do YOU feel about it?
HL
It,s OK. America doesn,t own the world.Previously, Johnson Controls (An American owned company) was a leading bidder for the bankrupt EV battery manufacturer, but that company withdrew its bids from the bankruptcy auction after declining to match Wanxiang’s highest bid (Johnsons bid was $5 Million below Wanxiang's). But the final sale will be subject to approval by the bankruptcy court handling the case in Delaware, and some members of Congress have reportedly raised concerns over the sale.
Rep. Bill Huizenga, R-Michigan, said he was concerned about Wanxiang taking over A123 Systems because of the battery maker’s close ties with the US Defense Department. Huizenga has been quoted as saying, “I am concerned about the government of China having access to sensitive technologies being used by our military forces.”
This isn’t the first time we’ve heard those rumblings. Back in August, several US automotive executives said Wanxiang’s purchase of A123 Systems could put industry trade secrets at risk, including cutting-edge lithium-ion battery technology. Likewise, November saw US senators John Thune, R-South Dakota, and Chuck Grassley, R-Iowa, raise concerns over the Chinese company’s interest in the bankrupt battery maker.Prior to A123's bankruptcy filing, Wanxiang attempted to purchase an 80 percent stake in the battery maker for $465 million.A123 Systems received bailout money from U.S. Taxpayers, 24 months ago. Now they are being bought by China. The above offer of $465 Million is $200 Million more dollars that was offered prior to the bankrupcy filing. Why was the offer refused??? Now they will most likely own the company and Americans will be working for the Chinese! I wonder, do these Americans want to work for the Chinese?
Why was China even allowed to bid? Will the jobs remain here or shut down and moved to China where labor is cheaper?? This does not settle well with me.
How do YOU feel about it?
HL
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HealthyLiving: Actions??? Or lack thereof... APATHY!! And IGNORANCE by those who are being Duped!
You are absolutely Correct.
So we need to Stop SHOPPING!!
You really don't need all of those new TOYS!
Grow your own food and trade foods with neighbors and only eat what you need to survive.
Buy from your local businesses and Do NOT support Big Corporations!
Stay on the Internet doing research and learning what you need to know. Be sure to share in the CS Forums and interact with others about what you know and what you need to know.
HL
You are absolutely Correct.
So we need to Stop SHOPPING!!
You really don't need all of those new TOYS!
Grow your own food and trade foods with neighbors and only eat what you need to survive.
Buy from your local businesses and Do NOT support Big Corporations!
Stay on the Internet doing research and learning what you need to know. Be sure to share in the CS Forums and interact with others about what you know and what you need to know.
HL
I'd add sport and face to face socialising to that, too. But yes, they're exactly the kind of everyday ways in which we can start to right this wrong.
Then move on to bigger things such as cleaning out politics and sorting out the education system by encouranging and forcing(if needs be)kids to study something difficult and useful - like the hard sciences and maths instead of media and social science; the economy is run on material resourcefulness and not credentials.
Also blocks certain imports and use some of the state money currently spent on benefits to build factories to replace these imports - then give the people once on benefits a job in these factories. Do this and we can cure the welfare state and lower tax, conquer unemployment, bring back domestic production and give the middle finger to the multi-national, all in one stroke.
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jt3jo: It,s OK. America doesn,t own the world.
does own the Factory,though!------ This thread is Archived ------
Rumple4skin: I'd add sport and face to face socialising to that, too. But yes, they're exactly the kind of everyday ways in which we can start to right this wrong.
Then move on to bigger things such as cleaning out politics and sorting out the education system by encouranging and forcing(if needs be)kids to study something difficult and useful - like the hard sciences and maths instead of media and social science; the economy is run on material resourcefulness and not credentials.
Also blocks certain imports and use some of the state money currently spent on benefits to build factories to replace these imports - then give the people once on benefits a job in these factories. Do this and we can cure the welfare state and lower tax, conquer unemployment, bring back domestic production and give the middle finger to the multi-national, all in one stroke.
Then move on to bigger things such as cleaning out politics and sorting out the education system by encouranging and forcing(if needs be)kids to study something difficult and useful - like the hard sciences and maths instead of media and social science; the economy is run on material resourcefulness and not credentials.
Also blocks certain imports and use some of the state money currently spent on benefits to build factories to replace these imports - then give the people once on benefits a job in these factories. Do this and we can cure the welfare state and lower tax, conquer unemployment, bring back domestic production and give the middle finger to the multi-national, all in one stroke.
Sounds like a plan that could work.
Problem is, the powers that be and Big Corporate are not going to give it up!!!
There would have to be a Bloody Revolution and they are already prepared for that with their over 900 FEMA prison camps for dissenters, U.N. Troops to kill resistors and their weather machine H.A.A.R.P. to cause major disasters anywhere they need to wipe out civilizations and Chemical Bombs to harm people and the environment.
Do we stand a living chance???
HL
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Conrad73: does own the Factory,though!
Maybe China can bail Europe (Our interest) out of this mess ? America will certainly not. Best wishes.------ This thread is Archived ------
jt3jo: Maybe China can bail Europe (Our interest) out of this mess ? America will certainly not. Best wishes.
You mean they haven't yet?
China has loaned to about every nation in the World!!!
Do they not like Ireland???
HL
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Maybe China needs more batteries just incase their electricity goes out when the world comes to an end.
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Conrad73: does own the Factory,though!
Despite the notoriety of Japanese investors, the British have the largest U.S. direct investment holding—with the Dutch not far behind—as has been the case since colonial times. In 1990 the United Kingdom held about 27 percent of foreign direct investment in the United States, significantly greater than Japan's 21 percent. The European Economic Community (EC) collectively holds about 57 percent. Moreover, according to research by Eric Rosengren, between 1978 and 1987, Japanese investors acquired only 94 U.S. companies, putting them fifth behind the British (640), Canadians (435), Germans (150), and French (113).
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Ccincy: Maybe China needs more batteries just incase their electricity goes out when the world comes to an end.
Would this imply that China wants to be the Light of the World?
HL
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Not that long ago China created their model of the Buick Regal didn't they?
Most if not all products that's sold here is made in China.You can't walk inside most stores today without seeing lables that read Made in China.
I forgot the exact math but I recall reading a comment in a online newspaper where it would cost more to pay someone here to make the very same product(s) over getting cheap labor in China.
Our government keeps this up and no one will be employed soon.
We may as well change our name to American China.
Most if not all products that's sold here is made in China.You can't walk inside most stores today without seeing lables that read Made in China.
I forgot the exact math but I recall reading a comment in a online newspaper where it would cost more to pay someone here to make the very same product(s) over getting cheap labor in China.
Our government keeps this up and no one will be employed soon.
We may as well change our name to American China.
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HealthyLiving: Would this imply that China wants to be the Light of the World?
HL
HL
I thought they already were.
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HealthyLiving: Sounds like a plan that could work.
Problem is, the powers that be and Big Corporate are not going to give it up!!!
There would have to be a Bloody Revolution and they are already prepared for that with their over 900 FEMA prison camps for dissenters, U.N. Troops to kill resistors and their weather machine H.A.A.R.P. to cause major disasters anywhere they need to wipe out civilizations and Chemical Bombs to harm people and the environment.
Do we stand a living chance???
HL
Problem is, the powers that be and Big Corporate are not going to give it up!!!
There would have to be a Bloody Revolution and they are already prepared for that with their over 900 FEMA prison camps for dissenters, U.N. Troops to kill resistors and their weather machine H.A.A.R.P. to cause major disasters anywhere they need to wipe out civilizations and Chemical Bombs to harm people and the environment.
Do we stand a living chance???
HL
I honestly(naively?)believe that things can only get so bad before common sense does something about it.
I don't know anything about weather machines and I do not feel that somebody is going to put a gun to my head if I try to live differently. What I do know is that as the establishment continues to discredit itself, as it has done throughout this recession, then we will see alternatives upon the political landscape - in Europe we already do.
I hope it doesn't come to a revolution, but maybe this is because I'm English - the last time we revolted half the male population died.
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Rumple4skin: I honestly(naively?)believe that things can only get so bad before common sense does something about it.
I don't know anything about weather machines and I do not feel that somebody is going to put a gun to my head if I try to live differently. What I do know is that as the establishment continues to discredit itself, as it has done throughout this recession, then we will see alternatives upon the political landscape - in Europe we already do.
I hope it doesn't come to a revolution, but maybe this is because I'm English - the last time we revolted half the male population died.
I don't know anything about weather machines and I do not feel that somebody is going to put a gun to my head if I try to live differently. What I do know is that as the establishment continues to discredit itself, as it has done throughout this recession, then we will see alternatives upon the political landscape - in Europe we already do.
I hope it doesn't come to a revolution, but maybe this is because I'm English - the last time we revolted half the male population died.
Nowadays, they will kill the women and children too as well as the men. No heart, no compassion, no conscience, no love, only selfish greed.
They believe that He who has the most toys when he dies, WINS; but He who has the most toys when he dies, STILL DIES!!!
HL
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The Chinese getting smarter in bysiness than the Americans.- Save 200 million,wow thats alot of money.
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chris27292729: GREED is the key word for the 1% of Americans,who say to the 99%, to hell with faithfulness to US and its people.-
Absolutely, Chris!
That's why we need to do what I said on page 2, Stop Shopping, etc.
HL
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HealthyLiving: Actions??? Or lack thereof... APATHY!! And IGNORANCE by those who are being Duped!
You are absolutely Correct.
So we need to Stop SHOPPING!!
You really don't need all of those new TOYS!
Grow your own food and trade foods with neighbors and only eat what you need to survive.
Buy from your local businesses and Do NOT support Big Corporations!
Stay on the Internet doing research and learning what you need to know. Be sure to share in the CS Forums and interact with others about what you know and what you need to know.
HL
You are absolutely Correct.
So we need to Stop SHOPPING!!
You really don't need all of those new TOYS!
Grow your own food and trade foods with neighbors and only eat what you need to survive.
Buy from your local businesses and Do NOT support Big Corporations!
Stay on the Internet doing research and learning what you need to know. Be sure to share in the CS Forums and interact with others about what you know and what you need to know.
HL
But wouldn't it just add to more people being out of work?
If that happened how would people purchase goods to grow and pay for bills etc.
To me it would make things worse then they are now and make no sense to do.
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You are absolutely Correct.
So we need to Stop SHOPPING!!
You really don't need all of those new TOYS!
Grow your own food and trade foods with neighbors and only eat what you need to survive.
Buy from your local businesses and Do NOT support Big Corporations!
Stay on the Internet doing research and learning what you need to know. Be sure to share in the CS Forums and interact with others about what you know and what you need to know.
HL
I'll second that