Last year, lithium-ion battery manufacturer A123 filed for bankruptcy after receiving $133 million of a $249 million taxpayer-funded Obama administration free gift. Further cementing its rock-solid reputation, it was then purchased by Wanxiang, a Chinese auto parts manufacturer. The powers that be at A123 had to find a way to win back the public’s trust, but how? Why, a name change, of course!
As The Washington Free Beacon reports, A123 will henceforth be known as … B456.