On Air Now

Current Show

The Money Pit   12:00 PM - 2:00 PM

Text TRAFFIC to 80373 for Traffic updates

Show Info »

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 590 AM Kalamazoo, MI

Weather

Current Conditions(Kalamazoo,MI 49001)

More Weather »
57° Feels Like: 57°
Wind: NNW 14 mph Past 24 hrs - Precip: 0.31”
Current Radar for Zip

Today

Scattered Thunderstorms 61°

Tonight

Partly Cloudy 42°

Tomorrow

Sunny 64°

Alerts

Battery company bankruptcy prompts political criticism

by

DETROIT (WKZO) -- Tuesday's announcement that battery manufacturer A123 Systems will file for bankruptcy is prompting criticism from Republicans.  The Massachusetts based company that has workers in three Michigan locations will sell off its auto based assets to Johnson Controls for 125-million dollars.

The company has lost one billion dollars since 2001 despite  governmental support. That included a 249-million dollar federal grant in 2009.

Raising the GOP's ire is the fact that A123 is being allowed to bail out under the same set of rules that the General Motors and Chrysler were allowed, meaning they can sell off their good assets and write off the bad.

As part of the filing, A123 still has 120 million dollars of the federal grant money.

Comments