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Electric-car battery maker A123 Systems files for Chapter 11 after years of losses

ScienceRocks

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Electric-car battery maker A123 Systems files for Chapter 11 after years of losses



DETROIT — After years of struggling with weak sales and mounting losses, electric-car battery maker A123 Systems filed for bankruptcy protection and reached a deal to sell its automotive assets Tuesday.

Auto parts maker Johnson Controls will pay $125 million for A123’s auto business, which includes two Michigan factories and the lithium-ion battery technology used in cars like the Fisker Karma and upcoming Chevrolet Spark.


A new study suggests that the Fed shouldn't have just cut interest rates. It should have made them negative.

A123’s demise as an independent business reflects the problems of the electric-car industry. Americans have been slow to buy the vehicles because they’re expensive, and many models have limited range and can run out of power on longer trips. Lackluster sales of EVs and batteries left A123 Systems Inc. with huge losses and a plunging market value.

The company’s stock price, which traded for more than $20 on the day of its initial public offering in 2009, fell to 6 cents in late-day trading Tuesday.

Electric-car battery maker A123 Systems files for Chapter 11 after years of losses - The Washington Post

This is what is called backing the losers!!! At least asteroid mining would=more wealth and resources for all of us!
 

JWBooth

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francoHFW

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Congratulations, un-American Pubs and hater/dupes!

Actually, the car part of the business sounds more successful...
 

Amazed

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Now its "unamerican" to not want to throw tax dollars down the drain.
 

francoHFW

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Actually, you're ROOTING for them to go down the drain- and let the REST of the world dominate the industry of the future. Anything to help the USA under Obama fail....mindless obstruction for 3 1/2 years..

Watching the debate now- Collins/Hochul...
 

Amazed

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Not rooting for anything except the SF Giants and Mitt Romney, if that technolgy was any good it would have been perfected by now.
 

Stephanie

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MY GAWD, how many does that make now where Obama WASTED our tax dollars?
 

Nole

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At least asteroid mining would=more wealth and resources for all of us!

its funny you say that. I work for NASA and served in the USAF for 8 year. I am of the firm belief that asteroid mining is what could separate America from the pack, once again.

truly a goal worth obtaining.


NASA would need Iraq war type funding, 2-3 Trillion. Apparently Republicans are fine with spending trillions in a Muslim nation for no apparent reason when we could have been moving our manned space flight program along.
 
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Amazed

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truly a gal worth obtaining.

Thoroughly Freudian.
 

Nole

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guys and gals, I know you want to crow over millions lost in looking for a reliable and safe replacement for fossil fuels but just to remind you, WE WASTED TRILLIONS IN IRAQ.

Just a friendly reminder.
 

francoHFW

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MY GAWD, how many does that make now where Obama WASTED our tax dollars?

MY GAWD, not many, dupe- 3 out of 38, due to China dumping, now being sued by our gov't. In this case, sounds like the electric car part of the company was bought and goes on.

More GD fear mongered chicken little Pub dupes. Ruining the recovery as much as possible for 3 1/2 years now.
 

NYcarbineer

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40% of Romney's Bain Capital's best moneymaking deals ended in companys' bankruptcy.

Romney
 

Political Junky

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Electric-car battery maker A123 Systems files for Chapter 11 after years of losses



DETROIT — After years of struggling with weak sales and mounting losses, electric-car battery maker A123 Systems filed for bankruptcy protection and reached a deal to sell its automotive assets Tuesday.

Auto parts maker Johnson Controls will pay $125 million for A123’s auto business, which includes two Michigan factories and the lithium-ion battery technology used in cars like the Fisker Karma and upcoming Chevrolet Spark.


A new study suggests that the Fed shouldn't have just cut interest rates. It should have made them negative.

A123’s demise as an independent business reflects the problems of the electric-car industry. Americans have been slow to buy the vehicles because they’re expensive, and many models have limited range and can run out of power on longer trips. Lackluster sales of EVs and batteries left A123 Systems Inc. with huge losses and a plunging market value.

The company’s stock price, which traded for more than $20 on the day of its initial public offering in 2009, fell to 6 cents in late-day trading Tuesday.

Electric-car battery maker A123 Systems files for Chapter 11 after years of losses - The Washington Post

This is what is called backing the losers!!! At least asteroid mining would=more wealth and resources for all of us!
If the government subsidized them the way they do oil companies, they'd have no problems.
 

NYcarbineer

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francoHFW

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But Reagan tripling the debt and Booosh doubling it and causing 90% of Obanma's debt is A-OK LOL! Pub dupes- STILL absolutely CLUELESS...
 

Avatar4321

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This is what is possible when you have a green economy:)
 

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