Boycott Watch  
August 19, 2011
US Dept of Energy Awards $1.5M to $2.6B Goodyear for Doing Nothing
Summary: The US Government throws away more of your hard working dollars.
    Boycott Watch recently reported how the U.S. Department of Energy gave Netherlands-based foreign company Philips Electronics (NYSE: PHG ) $10M of your money to develop a product they will make billions of dollars on with Chinese manufacturing. Today, we report the same U.S. Department of Energy gave $1.5M of your money to Goodyear to develop a tire product they have the patent on, stand to make billions on, and probably manufacture the product in China as well.

   The story was reported in the Cleveland Plain Dealer which once again failed to ask why the U.S. is giving away money to companies that don't need it while the nation can't pay its own bills. If you want to know why the nation is in such debt, here is another example.

   Does Goodyear need the money? No. In fact, the company should be embarrassed they are taking the money. The $1.5 Million is a drop in the bucket for Goodyear, but it is big money to me and you. To make matters even more insulting to the American people, the Kokomo Perspective asked why "Goodyear CEO gets $8.5 million in compensation despite bad year." Yes, you got it, the American people are doing nothing but subsidizing the salary of Goodyear's CEO who will make plenty of money on the dividends of the same invention the US is paying him for. These are your hard-earned tax dollars being thrown away.

   As Boycott Watch President Fred Taub stated in the previous report, "Americans should be outraged. The U.S. Department of Energy apparently has nothing better to do than award money to people who don't need it. This is government waste at its worst. Perhaps we just need to dismantle the U.S. Department of Energy since it does not act in best interests of Americans." Fred Taub continued: "The US Government works for us, we don't work for it. When a department proves it acts irresponsibly, it's time to fire the department."

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