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Current Events => Politics => Topic started by: TVDOC on January 26, 2012, 01:41:48 PM

Title: Obama's Latest Green Energy Triumph: Ener1 Goes Bankrupt (Taxpayers SOL Again)
Post by: TVDOC on January 26, 2012, 01:41:48 PM
http://www.humanevents.com/article.php?id=49084

Quote
Barack Obama’s record of success as an investor continues unabated, as Lachlan Markay of the Heritage Foundation reports that another Administration-subsidized “green energy” company has filed bankruptcy:
 
The company, Ener1, received a $118 million grant from DOE in 2010 as part of the president’s stimulus package. The money, which went to Ener1 subsidiary EnerDel, aimed to promote renewable energy storage battery technology for electrical grid use.
 
But despite generous federal support for the company, Ener1 was racked by problems last year. In October, NASDAQ delisted the company due to non-compliance with Securities and Exchange Commission filing requirements. A month later, the company’s president, chief executive, and top financial officer were fired.
 
[…] Ener1 is not the first energy storage technology company to file for Chapter 11 after receiving significant stimulus support. Beacon Power, which manufactures flywheel energy storage technology, received a $43 million loan guarantee from the same stimulus program that funded Solyndra. Despite having used $3 million marked for loan repayment to continue funding its daily operations, Beacon filed for Chapter 11 in November.

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Balance at link........

doc
Title: Re: Obama's Latest Green Energy Triumph: Ener1 Goes Bankrupt (taxpayers SOL Again)
Post by: Rugnuts on January 26, 2012, 01:44:13 PM
recurring theme

but for some, i dont think the repetition helps it sink in
Title: Re: Obama's Latest Green Energy Triumph: Ener1 Goes Bankrupt (taxpayers SOL Again)
Post by: SSG Snuggle Bunny on January 26, 2012, 01:59:02 PM
Quote from: Rugnuts on January 26, 2012, 01:44:13 PM
recurring theme

I think the term you're looking for is "serial offender."
Title: Re: Obama's Latest Green Energy Triumph: Ener1 Goes Bankrupt (taxpayers SOL Again)
Post by: JohnnyReb on January 26, 2012, 02:04:39 PM
You know, this is why people are afraid of letting the government invest Social Security funds in the stock market...you'll have idiots like Obama controling using investments to further their socialist ideals.
Title: Re: Obama's Latest Green Energy Triumph: Ener1 Goes Bankrupt (Taxpayers SOL Again)
Post by: Rugnuts on January 26, 2012, 03:43:55 PM
Quote from: SGT Snuggle Bunny on January 26, 2012, 01:59:02 PM
I think the term you're looking for is "serial offender."
your right
my bad
Title: Re: Obama's Latest Green Energy Triumph: Ener1 Goes Bankrupt (taxpayers SOL Again)
Post by: thundley4 on January 26, 2012, 04:28:26 PM
Quote from: JohnnyReb on January 26, 2012, 02:04:39 PM
You know, this is why people are afraid of letting the government invest Social Security funds in the stock market...you'll have idiots like Obama controling using investments to further their socialist ideals.


It's no worse than them buying T-Bills in the long run.
Title: Re: Obama's Latest Green Energy Triumph: Ener1 Goes Bankrupt (Taxpayers SOL Again)
Post by: Wineslob on January 26, 2012, 04:41:53 PM
Quote
flywheel energy storage technology


More perpetual motion garbage?   :mental:
Title: Re: Obama's Latest Green Energy Triumph: Ener1 Goes Bankrupt (Taxpayers SOL Again)
Post by: NHSparky on January 27, 2012, 07:12:34 AM
Better still, Plugs Biden referred to them as "Enron1," not once, but twice.