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Obama Is A Really, Really Bad Businessman

October 22, 2012 by  

Obama Is A Really, Really Bad Businessman
UPI

Conservatives often argue that government is inefficient and loves to waste money. Now, they are getting a look at what it looks like when government gets involved in the manufacturing sector.

Workers at a heavily taxpayer-funded battery plant that cost about $300 million spend most of their time not churning out expensive lithium-ion batteries for Chevy Volts, but rather playing cards, reading magazines and cleaning the building.

Investigators from Wood 8 TV reporting in Holland, Mich., found that many taxpayer-funded workers at LG Chem spend much of their time doing absolutely nothing.

“There would be up to 40 of us that would just sit in there during the day,” former LG Chem employee Nicole Merryman, who quit in May, told the news station.

The plant was made possible by $151 million provided by President Barack Obama’s stimulus bill; and of its 200 employees, 100 are paid for through the grant. So far, according to the news channel, $133 million of the grant money has already been spent; about 40 percent went to foreign companies.

In recent months, while many of the taxpayer-funded employees have become tired of sitting idle, they have reportedly taken to doing volunteer projects throughout the local community while on company time.

Sam Rolley

Staff writer Sam Rolley began a career in journalism working for a small town newspaper while seeking a B.A. in English. After learning about many of the biases present in most modern newsrooms, Rolley became determined to find a position in journalism that would allow him to combat the unsavory image that the news industry has gained. He is dedicated to seeking the truth and exposing the lies disseminated by the mainstream media at the behest of their corporate masters, special interest groups and information gatekeepers.

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  • wheels

    Did anybody really expect the results would turn out differently?! And being the poor businessman that he is, if nobama is given 4 more years it will just be more of the same. Bad decision after bad decision. All effecting the economy and individuals in a negative way.

    • GALT

      You think Obama signed the check?

      • wheels

        HE (nobama) did not sign any check, the loans were government secured. Nobama pushed very hard for the loans to go through. Most of the money (2/3rds) has been spent in China where 7 out of 10 Chevys are now built. This has helped the US worker and the US economy how, I ask? Piss-poor decision making on nobama’s part. The man has no idea how the economy works!

      • GALT

        Given your ability to “judge” what a credible information source is……..and that you think THIS STORY by Mr. Rolley actually tells you anything…….is not particularly compelling….except what you want to hear……

  • JeffH

    Well, I see PLD is still ironing out he wrinkles with Livefyre. I tried to post this awhile ago and nada…so here we go again.

    It’s being reported by the Obama loving liberal media that Tagg Romney ie The Romneys have made an investment in Ohio’s voting machines/Hart Intercivic. That’s just not true.

    As usual, these reports are presented in a way that would make it appear that Romney is try to fix the vote in Ohio and as usual the lame stream media hears a rumor or digs so deep into the dog poo that they end up with stinky fingers trying to make something out of not much at all. Of course there is a tremendous amount of conjecture and misleading reports…but isn’t that the goal in the first place?

    Through a closely held equity fund called Solamere, Mitt Romney and his wife, son and brother are major investors in an investment firm called H.I.G. Capital. H.I.G. in turn holds a majority share and three out of five board members in Hart Intercivic, a company that owns the notoriously faulty electronic voting machines that will count the ballots in swing state Ohio November 7. Hart machines will also be used elsewhere in the United States.

    Does this mean the Romney investment in Hart Intercivic through H.I.G. Capital and Solamere will yield it not only financial profits but the White House itself?(think Reid/Nevada/SEIU controlled voting machines)

    Guess we’ll all have to wait ’til Nov. 7th. to find out won’t we.

    • eddie47d

      With Romney’s questionable umpteen millions I wouldn’t be surprised that he has his fingers in a little of everything including those “notorious” voting machines. I thought it was only the son Tagg who owned those investments. Thanks for the heads up and letting us know it may go deeper. Rabbit’s hole anyone?

    • GALT

      But what about the coupe d’etat and martial law? 14 days to go……tick, tick, tick….

      • independent thinker

        If martial law is declaired it will not happen until after the election. If obama looses it will be declaired before Jan. 1 2013. If obama wins it will be declaired in about 3-3 1/2 years. Notice I led off with IF. I am not a big believer in the likely hood of martial law being declaired but believe it will occur as I stated IF it happens.

      • GALT

        “$10, 000 bet????” just kidding……….so you are safe for a while…….and plenty of time to get ready and/or leave………..

  • GALT

    “Obama Is A Really, Really Bad Businessman”

    ” seeking the truth and exposing the lies disseminated by the mainstream media ”

    Looks like a mainstrem media story………but Sam says.

    “So far, according to the news channel, $133 million of the grant money has already been spent; about 40 percent went to foreign companies.”

    It IS a foreign company “korean based”…….and if the $300 million dollar figure is accurate, they have put up $149 million + for plant construction…….Fed share is $151 million…….

    Journalism 101, Day One
    WHO:?????????????? yeah, very boring but……who is the company, and who owns them?

    Michigan is now solidly Republican, holding the executive and both houses of the legislature, with a 66+% majority in the senate…….so from mainstream media we get this info………

    “There’s millions of dollars more at stake for LG Chem if it doesn’t keep hiring, or if its job numbers fall. The state approved a $25.2 million job-creation state tax credit over 15 years, and a battery cell state tax credit worth $100 million over 4 years. Both are tied to job creation. ”

    and

    “The City of Holland created a Renewable Energy Renaissance Zone, allowing LG Chem to operate free of property taxes for 15 years — if it reaches 300 employees within 5 years. That’s another $48.5 million.”

    So let’s try WHO? again…….

    Richard Dale “Rick” Snyder[2] (born August 19, 1958) is an American business executive, venture capitalist, and Governor of Michigan. A member of the Republican Party, he assumed office as the 48th governor of Michigan on January 1, 2011.
    and from the Governor’s own web site we get………

    “As a candidate, Gov. Snyder pledged to eliminate the job-killing Michigan Business Tax and replace it with a flat, 6-percent corporate income tax that is simple, fair and efficient. He pledged to structurally balance the budget without using accounting gimmicks or quick fixes. He pledged to create an environment where small businesses can grow and create jobs.

    Less than a year into office, the businessman-turned-politician has delivered. As promised, he eliminated the job-killing Michigan Business Tax. He ended the unfair double tax on small business owners. Working together with lawmakers, the governor eliminated the state’s $1.5 billion deficit. And in stark contrast to the partisan fighting that led to two government shutdowns under his predecessor, Gov. Snyder got the budget done by the earliest date it has been completed in 30 years.
    Less than a year ago, Michigan barely had enough money saved in the rainy day fund to run the state for approximately 30 minutes. Under Gov. Snyder, the state is doing the responsible thing by saving for the future and paying down its long term debt.”

    Now we will jump to WHY??????????

    “But sales of the Chevy Volt, while recently growing, aren’t meeting GM’s expectations. In September, GM temporarily idled the Detroit-area plant that makes the Volt. ”

    Given the actual info available here from “main stream media” and adding the pieces up…………we go back to Sam

    “Conservatives often argue that government is inefficient and loves to waste money. Now, they are getting a look at what it looks like when government gets involved in the manufacturing sector.”

    That conclusion doesn’t seem to fit, but wait there’s MORE……

    Excerpt from The Wonderful World of Willard, Part One

    “You might think, and in being generally ignorant, I would predict that you do believe, that the “state income tax” you may be paying goes to the state you are working in?
    In 19 states this is NOT the case……take Kansas, as a specific example….AMC theaters, which moved it’s HQ from Kansas City Missouri, to Leaward Kansas, 10 miles away…….which simply shifted jobs across state lines…..but in exchange the CORP gets to keep the “state income tax” collected although their employee’s are “clueless” ……( as you are ) How much is this worth to the owners over the TERMof this agreement…..a mere $47 million, basically chump change, right?

    Who owns AMC theaters? J.P. Morgan, Apollo Mgmt, the Carlyle Group and Bain Capital Mgmt. No jobs created, just moved……”

    so again, we are back to:

    Journalism 101, Day One

    WHO:?????????????? who is the company, and who owns them?

    The PROBLEM, of course is that………you probably believe you already know all you need to KNOW……..and that

    “”Obama Is A Really, Really Bad Businessman”

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  • http://tlgeer.wordpress.com tlgeer

    So, they didn’t have enough customers to put those people to work. It happens. Most businesses fail in the first year. This is not news.

    • GALT

      They probably won’t fail…..it is not a small company……and there is 178 million in tax
      breaks,,,,,,,,,,and other contracts………see link…….

      http://www.compactpower.com/

      • GALT

        wow….we just did a page flip…….bottom to top…….

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