$150M given to LG Chem to build a factory that does nothing. Employees watch movies or volunteer. What a complete waste of money.
Three years ago, at a groundbreaking ceremony for an LG Chem Battery plant in Holland, Michigan, President Obama promised that this and other pants will be a boost to the economy in the entire region. Instead, the plant has become an example for what is wrong with a state-directed command economy. It also is yet another chapter in the Chevrolet Volt debacle.
Half of the plants $300 million price was funded by the tax payer, courtesy of a $150 million government grant. The plant does nothing. Its workers had little work to do and were spending time volunteering at local non-profit organizations, playing games and watching movies at the expense of the federal government and taxpayers, Gregory Friedman, inspector general at the Department of Energy, concluded in a report made public yesterday...