teapartysamurai
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- Mar 27, 2010
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After months of financial turmoil, an Energy Department-backed lithium ion battery company has filed for Chapter 11 bankruptcy protection.
The company, Ener1, received a $118 million grant from DOE in 2010 as part of the presidents 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 companys president, chief executive, and top financial officer were fired.
Another Stimulus-Backed Energy Company Files for Bankruptcy
How's that HOPE AND CHANGE working for ya libs? Obama devoted a big part of his SOTU speech to "Green Energy," despite the fact they are all falling into financial ruin.
You know why? BECAUSE HE HASN'T ANY OTHER IDEAS! He shot the whole wad and it all FAILED MISERABLY.
So, in typical liberal fashion what does he do when everything fails?
Why, OF COURSE. Just double down on the whole mess and insist this time it will work.
That's what liberals always do and what Obama will triple down on if God has decided he's given up on us and Obama is elected again.
November's coming libs. You can't keep these failures out of the news.