| Back to Home > Bulletin Board > Current Events > Topic: Anothere Obama pet energy company fails |
Anothere Obama pet energy company fails
1–10 out of 10 messages
| Author | Message |
| cruiser |
Posted - 10/16/2012 12:24:24 PM | show profile | flag this post
A123 Systems, the maker of lithium-ion bateries for electric cars, has filed for Chapter 11 bankruptcy. The company doesn't have the money to make payments on $146.5 million in indebtedness Seventy percent owner, Wanxiang Group of China, said the company was "considering strategic alternatives including 'one or more potential transactions' to address its liquidity problems. There is 'no assurance' that A123 will be able to find a way to continue to operate its business as a going concern, the company said." How many does this make now?...alternative energy companies, pets of the Obama administration, that have failed? |
| cruiser |
Posted - 10/16/2012 12:32:03 PM | show profile | flag this post
Failed to include that A123 Systems was infused with $249 million of US taxpayer money in the form of a grant...more cash pissed away in a futile effort by the Obama administration to promote alternative energy. And here is a link: http://www.bloomberg.com/news/2012-10-16/electric-car-battery-maker-a123-systems-files-bankruptcy.html?cmpid=yhoo |
| mpdodgson |
Posted - 10/16/2012 12:47:15 PM | show profile | flag this post
Alternative energy companies Or rather, government support thereof, DID NOT start in the past four years you know. Calling them "pets of the Obama administration" just shows you're lying again. Case in point, in August; "Conservatives pounced Wednesday on news that yet another Energy Department-backed solar company is facing financial problems. “Another Obama-subsidized solar company fails,” blared a headline on Breitbart.com soon after the Las Vegas Review-Journal broke the news that solar company Amonix has closed a manufacturing facility in North Las Vegas that benefited from millions in DOE grants and tax credits. And the Republican National Committee blasted the story to reporters’ inboxes. But federal backing for the project has its roots in the George W. Bush administration, not the Obama administration. The company eventually received a total of $15.6 million in grants under the program. Of that total, $8.2 million was disbursed under the Bush administration and $7.4 million was handed out under Obama http://www.politico.com/news/stories/0712/78717.html#ixzz29TdUsGb6 Same goes for many other alternative energy grants. Also; as Biden pointed our in the VP Debate, Republicans--like Paul Ryan--have been all for these grants: "According to documents obtained by the Boston Globe, Rep. Ryan (R-WI) lobbied the Department of Energy for tens of millions of dollars in stimulus grants for Wisconsin energy initiatives at least four times — even while calling the stimulus a “wasteful spending spree.” "Ryan joins at least 62 Congressional Republicans who have actively lobbied the government for loan guarantees and grants for clean energy companies in their districts — even while many of them have publicly criticized the stimulus program that provided a boost to local companies and organizations around the country. According to the Department of Energy, the loan guarantee programs created or saved over 60,000 jobs and the 1603 grant program supported up to 75,000 jobs, stimulating tens of billions of dollars in private-sector activity." So, if you have a problem with all of this, take it up with the president--and Paul Ryan--and 62 other GOP hypocrites. |
| cruiser |
Posted - 10/16/2012 1:38:54 PM | show profile | flag this post
"But federal backing for the project has its roots in the (wait for it)...Bush administration." Yeah, yeah, yeah. That's the same crap you left wingers tried to pull with Solyndra...saying the program started under Bush. In fact the application was made under Bush but his administration recommended that it NOT be funded. Obama funded it anyhow...and lost $535 million of taxpayer money. |
| mpdodgson |
Posted - 10/16/2012 2:31:40 PM | show profile | flag this post
That's a lie. One you keep repeating. "In fact the application was made under Bush but his administration recommended that it NOT be funded." NO. "House Republicans investigating Solyndra have claimed that the Bush administration ultimately rejected the Solyndra loan, but that's not quite the case. Democrats on the House Energy and Commerce Committee and news media point out that Bush energy officials wanted to get the loan closed on their way out the door — it was listed as the first of their "three highest priorities through January 15." (Obama took office Jan. 20, 2009.) But the Energy Department's credit committee held things up for more analysis. "The number of issues unresolved makes a recommendation for approval premature at this time. Therefore, the committee, without prejudice, remands the project to the LGPO [Loan Guarantee Program Office] for further development of information," the committee said. It noted Solyndra's project "appears to have merit." But the clock had run out. That didn't keep Bush from touting the loan guarantee program on his way out of office. On Jan. 6, 2009, in remarks on conservation and the environment from the Eisenhower Executive Office Building, he said, "We dedicated more than $18 billion to developing clean and efficient technologies like biofuels, advanced batteries and hydrogen fuel cells, solar and wind power, and clean, safe nuclear power. We're providing more than $40 billion in loan guarantees to put these technologies to use." Ultimately, the Bush administration program didn't finalize a single loan guarantee." {Politifact} To repeat one line; "It noted Solyndra's project "appears to have merit." But the clock had run out." So your line is absolutely not true. |
| etaoin shrdlu |
Posted - 10/16/2012 2:35:54 PM | show profile | flag this post
Listen to cruzo... he'd have directed that money into proven energy companies making steam engines, buggy whips and wood-spoked wheels! |
| con |
Posted - 10/16/2012 3:29:01 PM | show profile | flag this post
obama's green energy scam is nothing more than money laundering. |
| cruiser |
Posted - 10/16/2012 4:04:23 PM | show profile | flag this post
"Ultimately, the Bush administration program didn't finalize a single loan guarantee" That's the bottom line. Solyndra was NOT funded under Bush. It was funded under Obama, who touted it as a major player in his "green" energy agenda. It failed financially and the taxpayers are out $535 million. |
| mpdodgson |
Posted - 10/16/2012 5:23:16 PM | show profile | flag this post
That's NOT the bottom line The bottom line is that you got caught lying again and now you're changing your story. What you said was: "In fact the application was made under Bush but his administration recommended that it NOT be funded." No such recommendation was ever made; indeed they were still touting the whole idea when they left office. If it was such a crappy idea why didn't the Bush Admin kill it outright--and for that matter if the whole program was a stupid idea--why did Paul Ryan and 62 other Republicans beg for money for pork projects back home under it? You should have just kept quiet. |
| cruiser |
Posted - 10/16/2012 5:36:49 PM | show profile | flag this post
You can interpret it that way if it helps you get through the night. That won't change the facts. |
1–10 out of 10 messages
