'Green Energy' Company In Trouble

Discussion in 'Economy' started by Nova78, Apr 13, 2012.

  1. Nova78

    Nova78 Silver Member

    Dec 19, 2011
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    Another 2 'Green Energy' Companies In Trouble (Updated) :: Political News and commentaries :: Hyscience

    This time it's 'taxpayer-funded General Motors-funded' Hybrid vehicle maker Bright Automotive, and the company is blasting the Department of Energy for failing to finalize a loan that the firm says would have "kept it afloat":

    [...] In a letter dated Tuesday to Energy Secretary Steven Chu, Bright CEO Reuben Munger and COO Mike Donoughe said they were withdrawing their application for a $314 million loan and winding down their operations. The executives claimed they had been strung along for the past few years as the government insisted on increasingly stringent loan requirements.

    "The actions -- or better said 'lack of action' -- by your team means hundreds of great manufacturing and technical jobs ... and thousands of indirect jobs in Indiana and Michigan will not see the light of day," the letter said.

    Another one bites the dust

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