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Electric Car Battery Maker with $249.1 Million in Federal Tax Money Files Bankruptcy

Electric Car Battery Maker with $249.1 Million in Federal Tax Money Files Bankruptcy | TSA | Scoop.it

Via Bloomberg:

 

A123 Systems Inc. (AONE), the electric car battery maker that received a $249.1 million federal grant, filed for bankruptcy protection and said it would sell its automotive business assets to Johnson Controls Inc. (JCI)

 

The filing may fuel a debate over government financing of alternative-energy and transportation businesses. Federal grants and loans to companies including A123, Fisker Automotive Inc. and Tesla Motors Inc. (TSLA) have drawn scrutiny from congressional Republicans following the September 2011 bankruptcy filing of solar-panel maker Solyndra LLC two years after it received a $535 million loan guarantee from the U.S. Energy Department.

 

A123, which received a $249.1 million federal grant in 2009 to build U.S. factory capacity, needed a financial lifeline after struggling with costs from a recall of batteries supplied to Fisker, the plug-in hybrid luxury carmaker. A123 announced in August that it was working on a deal with Wanxiang Group Corp., China’s largest auto-parts maker, for financing in exchange for a majority ownership stake.

 

A123 has used $132 million of the $249.1 million grant awarded by the U.S. in 2009 toward building the two Michigan factories, the Energy Department said today in a posting on its website. A123 was required to spend up to one dollar of its funds for every incentive dollar received from the government, according to regulatory filings. The company also received a $6 million grant from the George W. Bush administration in 2007...

 

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Top 3 Exercise Machine Myths the Media is Hiding From You

Top 3 Exercise Machine Myths the Media is Hiding From You | TSA | Scoop.it

Body shaping is a hot topic, especially in recent years, due to more people being overweight now than ever. Being in great shape is not only attractive to others, but also makes a person feel good about themselves, gives them more energy and confidence in themselves.

Mass media plays a big part in developing myths around body shaping. They focus on selling their exercise machines to people who want to look and feel better. By advertising various machines to the public, stressing their methods of increasing muscle tone and healthier lifestyles, their claim to fame comes from the actors, movie stars and athletes who are paid handsomely to make the public believe the machine they are selling put them in their current shape.

Instead of seeking the truth, eager consumers buy the machines in hopes of developing the muscle-bound bodies that are portrayed in the commercials. To get the body of your life, you need to know some facts about three of the primary myths behind these theories.

Myth #1 - Many of the machines and exercise advertisements on TV really work as advertised, endorsed by movie stars and professional athletes.

Facts: This is very important. If you see any exercise machine advertised on T.V., or anywhere for that matter, that uses resistance created from some type of bow, gas piston, air shocks, rubber bands, springs, electric shock, magnetic resistance, negative leverage arms or rams, they are merely creating isometric tension resistance, and NOT pure gravitational resistance. These two types of resistance are completely different physiological forms of resistance in feel, action and results. Isometric tension, which all of the above mentioned exercise machine types create, is no different than placing one hand against the other and pressing, while varying your pressure. This form of resistance is your WORST ENEMY in body transforming. It is a deceiver. It will never give you anywhere near the amazing results of pure continuous resistance created by gravity and iron. You need some form of free iron weights or an extremely high quality cable and iron weight stack machine, which is basically free weights, which gives you pure continuous iron resistance from gravity to make your best gains. This type of resistance is your BEST FRIEND in body transformation. Most exercise equipment you see on T.V. is just a sales gimmick!

Myth #2 - The individuals advertising exercise machines on TV really used the machines to achieve the results they show.

Facts: Most are simply hired models paid to endorse the product even if it had nothing to do with the way they look; even if they’ve never used the product. If you’ll notice the fine print, the commercial actually has to disclose this.

Myth #3 - Some people created their championship physiques using isometric tension, variable resistance exercise machines.

Facts: There has never been a physique champion (male or female) made from using any of these isometric tension, variable resistance machines. All physique champions have used some form of pure gravitational weight resistance. Notice that you will NEVER see a bowflex in a professional gym!

Learn how to change your life with Dream Body Life http://DreamBodyLife.com


Via Dream Body & Life, wickyzulle, simon alvin, Allen Hunt, thomasandrew649
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Davis Warn's comment, September 18, 2013 6:15 AM
Useful info for health
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SoapBerry Solutions

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SoapBerry Solutions's curator insight, September 24, 2013 6:25 AM

At SoapBerry Solutions we strive to improve the lives of people by providing quality, natural, and dependable products.

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