A123 http://michiganradio.org en State of Michigan says bankrupt battery maker can’t transfer tax credits http://michiganradio.org/post/state-michigan-says-bankrupt-battery-maker-can-t-transfer-tax-credits <p>The State of Michigan says the new owner of bankrupt battery maker A123 Systems cannot get the company's state tax credits.</p><p>In April, 2009 the state awarded a “high-tech state tax credit” worth a little more than $25 million over 15 years and a “battery cell state tax credit” worth $100 million over four years</p><p>China’s Wanxiang Group (specially, one of it's American-based subsidies)&nbsp;bought most of A123 Systems' assets for a little more than $250 million. A123 says those assets include the state tax credits for two battery plants in Romulus and Livonia.</p> Fri, 08 Mar 2013 21:51:49 +0000 Lindsey Smith 11610 at http://michiganradio.org State of Michigan says bankrupt battery maker can’t transfer tax credits Weak battery market forces layoffs at Midland-based manufacturer http://michiganradio.org/post/weak-battery-market-forces-layoffs-midland-based-manufacturer <p>Dow Kokam, the advanced battery manufacturer, has laid off 40 to 60 employees at its Midland Battery Park and another factory in Missouri.</p><p>The company had about 250 U.S. employees, with 95 at its Midland site.</p><p>Bill Gagliardi, the company’s director of public affairs and branding <a href="http://www.ourmidland.com/news/article_21f2866c-4958-11e2-a5c2-0019bb2963f4.html">told the Midland Daily News </a>that the cuts were necessary to stay competitive in a weak market battery market:</p> Wed, 19 Dec 2012 17:50:17 +0000 Michigan Radio Newsroom 10441 at http://michiganradio.org Weak battery market forces layoffs at Midland-based manufacturer Chinese firm acquires bankrupt battery maker A123 http://michiganradio.org/post/chinese-firm-acquires-bankrupt-battery-maker-a123 <p>A123, the bankrupt battery company with factories in Livonia and Romulus, announced Sunday that a Chinese firm will acquire most of its assets.</p><p>In an auction administered by the U.S. Bankruptcy Court for the District of Delaware, Wanxiang Group Corp. purchased most of the company’s commercial business assets for $256.6 million.</p><p>The acquisition has some Republican lawmakers worried.</p><p>From <a href="http://www.freep.com/article/20121210/BUSINESS0104/121210054/Republican-lawmakers-question-A123-Systems-sale-China-s-Wanxiang-Group">the Detroit Free Press</a>:</p> Mon, 10 Dec 2012 22:27:38 +0000 Michigan Radio Newsroom 10295 at http://michiganradio.org Chinese firm acquires bankrupt battery maker A123 Hoekstra says millions in green energy subsidies were wasted http://michiganradio.org/post/hoekstra-says-millions-green-energy-subsidies-were-wasted <p>Republican US Senate candidate Pete Hoekstra says there are alternatives to using government subsidies to encourage new energy industries and the jobs that go with them.</p><p>He said the proof is the business troubles facing two advanced battery companies with a presence in Michigan.</p><p>A123 filed for bankruptcy last week and LG Chem has furloughed its employees.</p><p>Hoekstra said that means millions of dollars in taxpayer subsidies were “wasted.” He said the subsidies also reward companies for working at applying for grants rather than their core business.</p> Fri, 26 Oct 2012 21:33:40 +0000 Rick Pluta 9649 at http://michiganradio.org Hoekstra says millions in green energy subsidies were wasted Despite sometimes making the “wrong bet” Senator Levin supports renewable energy subsidies http://michiganradio.org/post/despite-sometimes-making-wrong-bet-senator-levin-supports-renewable-energy-subsidies <p>US Senator Carl Levin says the federal government needs to invest in renewable energy companies, even if those investments sometimes go bad. Levin made the remarks during a visit to Grand Rapids Community College today.</p> Fri, 26 Oct 2012 00:30:04 +0000 Lindsey Smith 9635 at http://michiganradio.org Despite sometimes making the “wrong bet” Senator Levin supports renewable energy subsidies Stabenow supports green energy subsidies despite A123 bankruptcy http://michiganradio.org/post/stabenow-supports-green-energy-subsidies-despite-a123-bankruptcy <p>U.S. Senator Debbie Stabenow is defending federal subsidies to promote green energy and advanced manufacturing businesses.</p><p>The loans, grants, and tax credits were part of the federal economic recovery package.</p><p>A company that got a quarter-billion dollar grant declared Chapter 11 bankruptcy this week. A123 employed hundreds of people in Michigan at facilities in Livonia, Romulus, and Ann Arbor.</p><p>Stabenow said the subsidies remain an important part of national energy and economic policy—even if some of the investments don’t pan out.</p> Fri, 19 Oct 2012 20:40:30 +0000 Rick Pluta 9544 at http://michiganradio.org Stabenow supports green energy subsidies despite A123 bankruptcy Battery company bankruptcy refuels electric car debate http://michiganradio.org/post/battery-company-bankruptcy-refuels-electric-car-debate <p>Tuesday’s bankruptcy announcement by A123 Systems Inc. has many taking another look at the prospects of the electric car.</p><p>Conservative commentators have taken the opportunity to bash the Obama administration for its green energy investments.</p><p>In 2009, A123 received a $249 million grant from the Department of Energy.</p> Thu, 18 Oct 2012 20:59:30 +0000 Michigan Radio Newsroom 9528 at http://michiganradio.org Battery company bankruptcy refuels electric car debate The week in Michigan politics http://michiganradio.org/post/week-michigan-politics-20 <p>This week Morning Edition host Christina Shockley talked with Michigan Radio's political analyst about the <a href="http://www.michiganradio.org/post/michigan-senate-approves-overhaul-blue-cross">legislation </a>to overhaul Blue Cross Blue Shield of Michigan, results of a poll that looks at where Michiganders stand when it comes to the <a href="http://michiganradio.org/post/six-ballot-proposals-facing-michigan-voters">six ballot proposals</a> voters will see in the next three weeks and the bankruptcy of U.S. operation of electric car battery maker, <a href="http://www.michiganradio.org/post/battery-maker-a123-files-bankruptcy-protection">A123 Systems.</a></p><p> Thu, 18 Oct 2012 12:13:12 +0000 Christina Shockley, Jack Lessenberry & Emily Fox 9513 at http://michiganradio.org The week in Michigan politics Commentary: Debating Autos http://michiganradio.org/post/commentary-debating-autos <p>The second presidential debate is over, and I’m pretty sure that if you polled Michigan voters and asked, simply, “who won last night?” there wouldn’t be any doubt of their answer.</p><p>It would be Justin Verlander, who last night pitched the Detroit Tigers to within one game of the World Series.</p><p>Indeed, I’d bet that more people were following their victory over the hated Yankees than were watching the confrontation in New York between the major presidential candidates.</p> Wed, 17 Oct 2012 14:47:37 +0000 Jack Lessenberry 9502 at http://michiganradio.org Commentary: Debating Autos