Another Green Energy Company Goes Bankrupt

[jaxsprat]

Clean energy appears to be a harder sell to Wall Street than Main Street. Ener1, the parent company of a electric car battery maker that received a $118 million grant from the Obama administration, filed for Chapter11 Bankruptcy 1/26/12. Ener1 received the grant in 2009 from the Energy Department, and Vice President Joe Biden visited the company’s new battery plant in Indiana last year. It is the third company, after Solyndra Inc. and Beacon Power, to file for bankruptcy after a grant, a loan, or a loan guarantee from the government as part of the stimulus package.
While Solyndra’s collapse, and the revelation that the administration hurried approval of its $528 million loan, have been a black eye on Obama’s attempts to push clean energy, an Energy Department spokesperson indicated that the department still had confidence in the company( ) in spite of the bankruptcy filing. They said that company restructuring would not affect work at the Indiana plant, that they did not anticipate jobs being lost as a result of the bankruptcy, and that additional private investment in the company “demonstrates that the technology has merit.”

Are the three bankruptcies for stimulus-linked clean energy companies merely a coincidence, or are they an indicator that Obama’s energy policies are flawed?

[Buckie02]

I would like to see what the compensation to the upper management was.

[Lowellhturner]

How many start up "horseless carriage" companies competed with Henery Ford? Where are MOST of them NOW? Same with the competators the Wright brothers had? And how many attempts did it take Edison to "perfect' the light bulb? The IDEA is SOUND, and there IS a MARKET for it. For what it`s worth, the FAA would NOT certify an EXACT replica of the Wright brother`s origional "Flyer' aircraft as "SAFE and AIRWORTHY' to reenact the 1903 event`s 100th yr anneversry BECAUSE IT WAS DEEMED `TOO DANGEROUS` by modern standards. Imagine that. CHANGE WILL COME. (Except for Wall Street, of course...they quickly decided the "aeroplane' had `no practical use`and `no future`. RIGHT!)

[Cane Pole]

Just dye the dam oil green and solve the green energy problem. Motor oil is kinda green anyway. Maybe we need chartreuse energy. Until we part the sea, only oil will be effective energy. Batteries are some bad azz stuff. Ask and meth head. Just imagine the increase in the meth labs. Volt labs Inc. Rolling Volts. My car batteries are missing. I need a jump start. Lord goodness.

Obama need to join Newt on the moon and coloneyes.


Anyone who believes batteries are safe are ignorant. Remember the Pinto (not the Alamo).

[LBM]

How many start up "horseless carriage" companies competed with Henery Ford? Where are MOST of them NOW? Same with the competators the Wright brothers had? And how many attempts did it take Edison to "perfect' the light bulb?

OMG This is such a fine example of how the omniscient leftist lib utopians sees all money as some gigantic collective pot for them to dispense from as they the omniscient continue towards their idiotic utopian ideal. They see no distinction between 'public sector money' that always is first derived from the expropriation=taxes=theft of 'private sector money' which rightfully belongs to the individuals that has been legally earned and accumulated.

Every thing you listed above was from private sector money where private individuals all freely chose to risk their own time money and efforts at something which there were no for gone conclusions as to actual feasibility or profitability. They took all the risk on their on volition and those and only those choosing said risk suffered losses if it failed and as it turned out a great many more people benefited from those wonderful free market activities making life much more comfortable for many. The very essence of why free market activities helped and furthered human standards of living way beyond any experienced from top down command economies in the past. Those lib loons with all their hubris of omniscience just continue coming out in opposition to free market activities thinking they in fact know what the actual results should be from all human activities.

The IDEA is SOUND, and there IS a MARKET for it.

That statement is only held as true in the minds of the deluded lib omniscient utopians. If in fact it were true I would expect and really hope that there were some greedy and grubby players out they ready to invest their own money to earn some obscene profits for themselves. The very way that has best worked for us in the past. Yet only after the government gives market incentives and hands out expropriated 'public sector monies' does one then see these damnable greedy profiteers step forward and attempt to make profits from expropriated tax payer money. Why can't the lib loons just stand back and let the human ingenuity percolate on its own where the majority of all the major elevations of our standards of living have come from.

[Cane Pole]

How many start up "horseless carriage" companies competed with Henery Ford? Where are MOST of them NOW? Same with the competators the Wright brothers had? And how many attempts did it take Edison to "perfect' the light bulb? The IDEA is SOUND, and there IS a MARKET for it. For what it`s worth, the FAA would NOT certify an EXACT replica of the Wright brother`s origional "Flyer' aircraft as "SAFE and AIRWORTHY' to reenact the 1903 event`s 100th yr anneversry BECAUSE IT WAS DEEMED `TOO DANGEROUS` by modern standards. Imagine that. CHANGE WILL COME. (Except for Wall Street, of course...they quickly decided the "aeroplane' had `no practical use`and `no future`. RIGHT!)

How many were funded by the dipsticks call congress picking weiners or should I say taxpayer money? Huh? How many? How many backed by giveme money? Tell me. Tell me. I just gotta know.

[Eager Beaver]

HOOT HOOT!!!!! You guys get funner all the time! If things were left up to you geniuses we would still be walking because you would thing horses would be to dangerous and the cost factor would put you in a spin. I mean the cost of feeding them and cleaning up after them and then what would you do with the waste from them I mean the costs would just be to unbearable!!! Sound familiar! EB

[fishinRod]

HOOT HOOT!!!!! You guys get funner all the time! If things were left up to you geniuses we would still be walking because you would thing horses would be to dangerous and the cost factor would put you in a spin. I mean the cost of feeding them and cleaning up after them and then what would you do with the waste from them I mean the costs would just be to unbearable!!! Sound familiar! EB

horses eat grass and hay, it grows naturally, they poop on the ground...no problem....spread the poop on the crops as fertilizer for food....horse in turn can be used to harvest said crops....it is pretty self sufficient...this is a common sense thing, something liberals dont have because they are more like the horses azz

[fishingpox]

Trickle down govment, thats the answer.

[Cane Pole]

horses eat grass and hay, it grows naturally, they poop on the ground...no problem....spread the poop on the crops as fertilizer for food....horse in turn can be used to harvest said crops....it is pretty self sufficient...this is a common sense thing, something liberals dont have because they are more like the horses azz

Yep. All of 'em looking for something free for the lazzzes.