"A123 and all of its U.S. subsidiaries have already filed petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court. The company is expected to receive $72.5 million from Johnson Controls as "debtor in possession" financing to support its operations during the sale process."
This is how they steal money from you all !!
AONE is funded by Government Money.
AONE builds a facitlity.
AONE files chapter 11.
AONE gets bought by JCI for pennies on the dollar.
Who paid for it from the start? hahahhha! the US TAX PAYER, AKA DUMB F RETAIL.
We get hosed again by the Republicans, Democrats and CORPERICA!!
Stealing your 401K wasn't enough.
Devaluing what ever was left in your 401K wasn't enough.
Taking the money that should be used wisely and giving it away to CORPERICA, won't be enough either.
Was Bain Capital behind this? This is how they operate. Sensata controlling interest was taken over by Bain Capital. Now they are shutting down the plant moving the machines to China. The Corp made over 500 million in profit in 2011 and Bain had the Sensata workers train Chinese to do their jobs. Romney was in IL. to campaign. He was asked to help save the plant workers jobs. He wouldn't show up. By the way, Romney owns over Eight Million Dollars in stock in Sensata. Some job saver.