In 1887 Alexander Tyler, a Scottish history professor at the University of Edinburgh, had this
Hope for Change
First Solyndra, now ENER1. The parent company of athe car battery maker that received a $ 118M grant – not: loan – from the White House filed for bankruptcy. As far as can be ascertained, at least 50% of this amount will be unrecoverable.
So, $ 59M down the drain ? Not much more than a drop in the ocean, really, if you compare it with the new, Senate-approved, raise of the debt-limit of $ 1.3T.
$ 59M, that’s barely 0.005%, so why should we make a big fuss about it ?
Because we have a “CEO” who invests stockholder money into companies that stubbornly keep going under under. A CEO for whom good intentions count more than good results. A CEO who hopes to get some change for his bucks, but who simply can’t do it.
Contrast this with an ex-Governor from Massachusetts, who – as an evil venture capitalist – invested his stakeholders’ money such that unsustainable business models got liquidated to yield maximum profit, which he then invested into sustainable business models that created new jobs. The result: no more money got lost; productivity was increased; net jobs were created; stakeholders and their CEO made profits. Everybody got his fair share. Doesn’t that sound like the State of the Union Address ?
More Carnage in Obama’s “Green” Energy… | The Gatew..
Obama Battery Boondoggle Goes Bust | The Blog on Obama: White House Dossier
After Another Clean Energy Bankruptcy, Obama Opts for Volcano Energy
Drip, Drip, Drip: Yet Another Green Energy Stimulus Recipient Hits the Skid..
Another Obama-backed Green Jobs Company, Ener1, Files Bankruptcy « Sc..
Center for Environment, Commerce & Energy: Ener1 Car Battery Company Fi..
Another Government Supported Bankruptcy « Grantcoulson’s Blog
Your Tax Dollars at Work…In Bankruptcy Court « Off My Front Por..
Time to wake-up America! « The Thinker
Another Obama Administration “green” investment goes bankrupt. ..
Ener1, Battery Maker, Seeks Chapter 11 Bankruptcy Protection
Is It Fair for Government To Pick Winners?
Drip, Drip, Drip: Another Green Energy Stimulus Recipient Goes Belly Up
Obamaâ€™s Green Fiascoes and Boondoggles | Western Journalism.com
Canada posts trade surplus on surge in energy exports while another White H..
Th!nk Again: Ener1, Inc. Delisted by NASDAQ
How Do We Right the Ship on U.S. Renewable Energy Companies? | 2GreenEnergy
Latest Electric Car Makers News | Electric Vehicle Conversion
Beacon Power (BCON) Latest DOE Fueled Green Energy Failure; Ener1 (HEV) Nex..
Special Report: Singed by Solyndra – Reuters | Cheap Car Hire in Spai..
AdvanceIndiana: Sunlight Needs to be Shined on Airport; IBJ: Solar farm is ..
Why the LinkedIn IPO Is Bad for Cleantech — Cleantech News and An..
Leave a Reply
Fair Use Statement
This site, on occasion, may contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in an effort to advance understanding of environmental,
political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law.
In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.