backtop


Print 106 comment(s) - last by JohnnyCNote.. on Aug 6 at 4:37 PM


Joe Biden is in Michigan today, reportedly to announce the first round of $2B in battery grants.  (Source: The Weekly Standard)
Grants bring good news to state's troubled economy

Michigan is among the states that has been hit hardest by the recession.  The government went to extreme measures to keep the state's economy from collapsing, including assuming majority ownership of GM and propping up Chrysler through bankruptcy.  Now the federal government is preparing to reach deeper into its pockets to help the state out even more.

Vice President Joe Biden is in Michigan today at the NextEnergy Center in Detroit.  He is reportedly going to announce the first round of $2B USD in Department of Energy battery grants.  The grants should boost the state's economy and help develop better electric vehicles, currently favored as the future of the car industry by the domestic automakers.

The federal government is also separately loaning money to battery manufacturers under the $25 billion Advanced Technology Vehicle Manufacturing Incentive Program (ATVM).  Among the battery manufacturers that applied for that loan are A123 Systems, EnerDel, and Compact Power.  Thus far Ford, Nissan, and Tesla Motors received ATVM loans.  It is unknown who the grants will go to, but A123 Systems, EnerDel, and Compact Power seem like leading candidates.

Ed DeSeve, the president's special advisor on the stimulus program, had stated about on July 21, "I think you'll see over the next week or so ... some industrialization focus, for example, on the battery grants that are coming.  It makes sense to put those in places where there is productive working capacity -- people who can do the jobs. There are plants where the jobs can exist, and I think you are going to start to see more and more of that over time."

The ATVM loans must be repaid eventually by automakers and battery makers.  However, the DoE grants do not have to be repaid.  Michigan has also offered battery makers some big tax cuts in hopes of luring business into the state.

A limited amount of tickets to Mr. Biden's appearance have been offered to the public on a first-come-first-serve basis.



Comments     Threshold


This article is over a month old, voting and posting comments is disabled

RE: Michigan
By FITCamaro on 8/5/2009 3:22:34 PM , Rating: 3
quote:
Oh and listening to Rush Limbaugh and Glen Beck 24/7 doesn't count as being informed.


Nor do I listen to them.

quote:
As far as Communism goes, what about police forces, fire departments and the armed forces?


Here's a paddle. Go beat that dead horse some more. Those are local run services paid for by local taxes. They are not handled by the federal government. There is absolutely nothing communist or socialist about local emergency services designed to protect the people from crime or disasters. Socialized medicine has nothing to do with them either. The federal government has no right to tell someone they have to pay for a service like health care when they do not want it. It has no authority to institute such a program either.

quote:
You're not asked to cover a $3000 deductible before the fire dept puts out the fire at your house, or a cop stops the guy trying to shoot you. So why is that OK before you'll be allowed to enter an O.R.?


Have you ever even been to an emergency room or in an operating room? I have this year. I had my appendix removed. When I showed up for emergency surgery (I walked in because it hadn't burst yet), did they ask me for anything? No. They admitted me in 5 minutes, and performed the surgery a few hours later. It was not until I was about to leave when I was approached about whether I could even pay for the services I received. And even if you cannot pay, they cannot do anything to you. Emergency services cannot be put on your credit report. They cannot repossess your belongings. All they can do is have a collection agency pester you. I had a friend owe $10,000 for a one night stay. He had no money and wasn't able to pay and never did.

You have no clue what you're talking about.


“So far we have not seen a single Android device that does not infringe on our patents." -- Microsoft General Counsel Brad Smith














botimage
Copyright 2014 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki