AONE's Chapter 11filing can't be taken serious. This is why.
It was no secret that A123 Systems was desperate for money. It's also no secret that Chinese companies are interested in buying Western companies, especially when they can acquire useful technology in the deal. So the announcement that Wanxiang Group Corporation, a Chinese largest autoparts manufacturer which has significant U.S. operations, had signed a non-binding memorandum of understanding to invest up to $450 million in A123 through a combination of bridge loans, convertible notes, and warrants seems like good news for both companies.
Within 2 months suddenly a deal with Johnson 4 times less?
This stinks, can't be true and looks like a political action.
You can't tell me the value of this company is 4 times less than 2 months ago with a deal in the pocket!
I don't believe that this is the same thing. The issues that most people have with a Chinese company taking over A123 is the currency manipulation that they commonly take part in. Nobody is saying that you can't do business in America because you are yellow, but because your government commonly cooks the books. We have to think about the security of our nations corporations and make a decision accordingly.
That being said, I support the Wanxiang corporation taking over A123. They have the manufacturing know-how and have an excellent record of keeping US based jobs with the companies that they take over. I do believe that racism does still exist (grow up people - we're all the same on the inside), but just not with the example that you gave.