CBS News: A $250 million dollar subsidized Obama green energy company tanking fast

A123 Systems, the battery maker for the Fisker Automotive hybrid, got almost $250 million in loan guarantees from the Obama administration and is currently losing hundreds of millions each year. In fact not long after they got the loan guarantee they had to lay off over 100 workers. Things have recently gotten so rough for them lately that they are going to spend the rest of their stimulus money, around $100 million of it, not on making batteries for electric cars but on batteries for power grids:

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