Another day - another Solyndra

[chanel]

The parent company of an electric car battery maker that received a $118 million grant from the Obama administration filed for Chapter 11 bankruptcy protection on Thursday.

New York-based Ener1 said it has been affected by competition from China and other countries.

Ener1 subsidiary EnerDel received a $118 million stimulus grant from the Energy Department in 2009, and Vice President Joe Biden visited the company's new battery plant.

Ener1 is the third company to seek bankruptcy protection after receiving assistance from the Energy Department under the economic stimulus law. California solar panel maker Solyndra Inc. and Beacon Power, a Massachusetts energy-storage firm, declared bankruptcy last year. Solyndra received a $528 million federal loan, while Beacon Power got a $43 million loan guarantee.

Read more: Parent Of Obama-backed Battery Maker Goes Bankrupt | Fox News


Shovel ready.

 

[iamwhatiseem]

FUBAR...in every sense of the phrase.
This is outrageous.

 

[Conservative]

who the fuck did the Obama administration have reviewing these grant requests? Mickey Mouse?

 

[Truthmatters]

care to tell us how many companies made good strides?

No you wont touch that subject huh?

You just slither arround the ground looking for dead things instead

 

[Ernie S.]

who the fuck did the Obama administration have reviewing these grant requests? Mickey Mouse?

Close. Tim Geithner and Steven Chu. otherwise known as Heckle and Jeckle.

 

[TakeAStepBack]

care to tell us how many companies made good strides?

No you wont touch that subject huh?

You just slither arround the ground looking for dead things instead

You brought it up. Why dont YOU tell us how many have made "good stride".

 

[SFC Ollie]

How many Millions have now been pissed away by this administration on the so called clean energy jobs that don't exist?

 

[Truthmatters]

just keep slithering

 

[TakeAStepBack]

In other words, you can't.

 

[Dr.House]

care to tell us how many companies made good strides?

No you wont touch that subject huh?

You just slither arround the ground looking for dead things instead

You mean like how you refer to Bain?

And you wonder why people think you're a fucking idiot...

 

[Dr.House]

How many Millions have now been pissed away by this administration on the so called clean energy jobs that don't exist?

At least 0bama's buddies are making out like bandits...



I heard 0bama is looking to invest in a company that produces solar panels for coal mines...

 

[EdwardBaiamonte]

care to tell us how many companies made good strides?

dear, good strides don't matter one tiny bit!!! I'm sure Solyndra made good strides too and so did all the industries of the USSR and Communist Red China.

We need industries that made a profit to get out of this liberal recession!! Got it now???

 

[chanel]

I'm sure the review will be unbiased. Not.

The White House-ordered review of the Department of Energy's loan guarantee program is set to conclude this week, with an Obama administration official saying the report is expected Monday.

In late November, the White House appointed Allison to head a 60-day review of the soundness of DOE's loan guarantee portfolio, in response to the controversy over the bankruptcy last summer of California solar panel-maker Solyndra, which received a $535 million DOE loan guarantee in 2009.

In all, DOE issued 28 renewable-energy loan guarantees totaling more than $15 billion through the 2009 American Recovery and Reinvestment Act. DOE also has offered an $8.3 billion conditional loan guarantee to Southern Co. for two new nuclear reactors in Georgia, and a $2 billion conditional loan guarantee to Areva for a uranium enrichment facility in Idaho.

Republicans in Congress have accused DOE and the White House of mismanaging the program, improperly exerting political pressure on program staffers and insufficiently vetting the companies to which it has awarded the loan guarantees.

Allison served in the Obama administration from 2009-2010 as assistant secretary for financial stability at the Treasury Department, overseeing implementation of the Troubled Asset Relief Program bank bailout. He also served in the Bush administration as president of mortgage guarantor Fannie Mae, and has headed Merrill Lynch and TIAA-CREF.

TARP, Fannie Mae, and Merrill Lynch? Good grief.

 

[EdwardBaiamonte]

care to tell us how many companies made good strides?

dear, good strides don't matter one tiny bit!!! I'm sure Solyndra made good strides too and so did all the industries of the USSR and Communist Red China.

We need companies that make profits, not strides, to get out of this liberal recession!! Got it now???[/QUOTE]

 

[EdwardBaiamonte]

care to tell us how many companies made good strides?

dear, good strides don't matter one tiny bit!!! I'm sure Solyndra made good strides too and so did all the industries of the USSR and Communist Red China.

We need industries that make a profit, not strides to get out of this liberal recession!! Got it now??

 

[chanel]

Three in one week. Looks like they made bad "strides".

Earlier this week, Stimulus beneficiary Evergreen Energy bit the dust. Then, Ener1, a manufacturer of batteries for electric vehicles and recipient of Stimulus largesse, filed for bankruptcy. And today, the Las Vegas Sun reports that Amonix, Inc., a manufacturer of solar panels that received $5.9 million from the Porkulus, will cut two-thirds of its workforce, about 200 employees, only seven months after opening a factory in Nevada.

Drip, Drip, Drip: Yet Another Green Energy Stimulus Recipient Hits the Skids (the third this week!)

 

[SFC Ollie]

Now watch them be defended..........

As I said so many times. Government needs to stay out of it and allow science and the private market to perfect the next best energy devices........ Instead of trying to force feed something that isn't ready onto us...........

 

[EdwardBaiamonte]

Now watch them be defended..........

As I said so many times. Government needs to stay out of it and allow science and the private market to perfect the next best energy devices........ Instead of trying to force feed something that isn't ready onto us...........

yes the liberals in government would have you believe that it hasn't occured to
anyone but them that there are billions and billions to be made from a way to save energy.

 

[chanel]

House investigators wrote the Port of Los Angeles yesterday to review the decision to spend almost half a million dollars in stimulus money on retrofitting a luxury yacht with environmentally-friendly engines.

"The Port of Los Angeles owes the public greater transparency about this project and a full accounting of the cost-benefit analysis used to justify spending on this type of project," House Oversight and Government Reform chairman Darrell Issa, R-Calif., wrote in a letter to the executive director of the port, Dr. Geraldine Knatz.

The Port of Los Angeles spent $489,000 of a $1.5 million grant from the Department of Energy to retrofit a city-owned yacht with "hydro-electric propulsion system," according to Issa's letter, rather than the diesel engines it already had in operation. The yacht is used to conduct tours of the port.

House reviews DOE money upgrading yacht | Campaign 2012 | Washington Examiner

 

[daveman]

The parent company of an electric car battery maker that received a $118 million grant from the Obama administration filed for Chapter 11 bankruptcy protection on Thursday.

New York-based Ener1 said it has been affected by competition from China and other countries.

Ener1 subsidiary EnerDel received a $118 million stimulus grant from the Energy Department in 2009, and Vice President Joe Biden visited the company's new battery plant.

Ener1 is the third company to seek bankruptcy protection after receiving assistance from the Energy Department under the economic stimulus law. California solar panel maker Solyndra Inc. and Beacon Power, a Massachusetts energy-storage firm, declared bankruptcy last year. Solyndra received a $528 million federal loan, while Beacon Power got a $43 million loan guarantee.

Read more: Parent Of Obama-backed Battery Maker Goes Bankrupt | Fox News


Shovel ready.

A grant. That means they never had to pay it back.

This Administration just loves flushing money down the toilet.