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Recovery act, you guys are the first american factory to start high volume production of advanced vehicle batteries. i met with david and some of the a123 team here in the white house back in april, and it's incredibly exciting to see ho*uf you guys have come since we announced these grants just over a year ago. >> reporter: despite hundreds of millions of dollars of taxpayer support it did little for a123, which today announced it is indeed filing for bankruptcy protection. the bottom line is gas prices that are knocking on $4 a gallon electric car sales are dismal, little interest in the che...

Company once touted by the president apparently biting the dust. an electric car battery maker that got some 250 million tax dollars is filing for bankruptcy. and doug mcelway has more for us from washington on this. >> reporter: the name of the company is a123, a waltham, massachusetts outfit that specializes in lithium ion batteries. it built three plants in 2010 to take advantage of the state's huge tax breaks for battery manufacturers. vice president joe biden hailed the $249 million tax grant to the company. he said with recovery act projects like this we are starting to turn the page on ...

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Hang seng 0 hang seng 209. mattel, goldman sachs and johnson & johnson all turned in better than expected reports. ibm beat earnings, but missed sales forecasts which could take a toll on the dow today. intel also weighed in with lackluster profit thanks to declining nademand for pcs. michael corbat held his first conference call following tuesday's surprise resignation from vikram pandit. elsewhere, a123 systems, federally funded maker of electric car batteries, is now bankrupt despite nearly $250 million in government grants. france's privacy regulator says google's new privacy policy viol...