Unemployment rose to 7% in August, although 12,000 jobs were created. Of those 12,000 net jobs, 33,000 jobs were created with tax dollars, namely, teachers, nurses, and public administration jobs. Jobs were added in Saskatchewan, Newfoundland and Labrador, Manitoba, and New Brunswick. The other provinces saw no change. Productivity continues to decline. Hours worked are increasing, while business output decreases. The road to recovery is certainly not clear.
It seems like alternative energy schemes, especially those espoused by Obama, have a high mortality rate. Solyndra. The maker of the abortive Volt battery, A123 (see article excerpts below, link). I don't know if it's Obama's gross incompetence, or more likely the result of trying to force a market where none exists, or maybe both. I do know that as a taxpayer I can find far better uses than pouring it down a rat hole.
Battery Maker Files for Bankruptcy
A123 Scraps China Deal and Will Sell Car Assets to Johnson Controls
Electric-car-battery manufacturer A123 Systems Inc. filed for Chapter 11 bankruptcy protection Tuesday with a plan to sell its auto-business assets to an American rival, Johnson Controls Inc., scrapping a proposed rescue by a Chinese company.
The filing by the recipient of nearly $250 million in federal-government grants and $358 million in start-up funding scuttled a previously announced plan to sell an 80% stake to Chinese auto-parts maker Wanxiang Group Corp. That deal had encountered opposition from lawmakers concerned about the transfer of American taxpayer dollars and technology to China.
A123's bankruptcy also represents a setback for the Obama administration's efforts to foster a market for electric vehicles and develop a homegrown supply of advanced batteries. It provides fodder for Republican presidential challenger Mitt Romney to continue attacking the president for his financial support of renewable-energy firms.
While A123 Systems' tumble into bankruptcy follows that of other stimulus missteps like backing for failed solar-panel manufacturer Solyndra LLC, the futures of the two companies differ markedly.
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