I am asked on a regular basis what a "green job" actually is. Fair question, given the fact that the term is bandied about as one of the US administration's big solutions to the country's economic hardships.
Instead of attempting to give you an academic definition of "green jobs", I thought instead I would highlight a US Department of Energy video I came across the other day about a "green job" success story.
The video tells the story of a moth-balled battery plant in Holland, Michigan that is being reopened thanks to a $300 million federal grant under the American Recovery and Reinvestment Act.
Under the Act, there is $2.4 million earmarked for advanced vehicle battery technology, and Johnson Controls (NYSE: JCI), the owners of the soon-to-be-opened plant and a leader in the manufacturing of lead-acid car batteries, plan to ramp up the production of lithium ion electric car batteries to 15 million units per year at the Michigan plant.
Here's the video:
Johnson Controls Inc., released their Q1 2010 earnings report today, announcing a a double-digit increase in sales as well as record quarterly earnings.
Highlights for the company's first quarter of 2010 include:
- Net sales of $8.4 billion vs. $7.3 billion in Q1 2009, up 15%
- Record income from business segments of $406 million vs. a Q1 2009 loss
- Record net income; earnings per diluted share of $0.52 ($0.43 per diluted share excluding non-recurring items)
- Free cash flow of $631 million
- Net debt reduction of $552 million
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