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Obama mentions an energy company in SOTU and it goes bankrupt immediately


Andrew Restuccia of The Hill is reporting that Ener1, a battery company that President Obama referenced in his State of The Union Speech on Tuesday as an example of successful energy investments, has just filed for chapter 11 bankruptcy.

That's just two days after the speech.

“In three years, our partnership with the private sector has already positioned America to be the world’s leading manufacturer of high-tech batteries,” Obama said in his speech.

According to Phil Milford and Dawn McCarty at Businessweek, Ener1 had received a $118 million U.S. Energy Department grant to make electric-car batteries. And the grant received bi-partisan support, so it is not entirely on Obama's shoulders. From Businessweek:

Under President Barack Obama’s economic stimulus package, the Energy Department awarded grants in an attempt to create a U.S. electric-car industry. Ener1 subsidiary EnerDel was the grant recipient and has received about $55 million of its grant so far. A spokesman for the Energy Department, Jen Stutsman, said the department would provide comment soon.


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They know how to pick'em


Patriot Cell #345,168
I don't respond to emails or pm's.
Those who make peaceful revolution impossible will make violent revolution, inevitable.

Heads Will Roll

Our "nice" and "friendly" cheif executive will probably fire at least one person over this. What do you think?

What do you think? http://consequeries.com/

wasn't there a candidate who talked about...

...the foolishness of central gummint planners picking winners and losers in the economy? Gosh, I sure wish we had someone like that in the race right now.

Doug Wead should run with this!

What is begun in anger, ends in shame.

LMAO, Obama

your such a loser! My god man "you suck!" Please don't mention my name, don't need a piano falling on me.

The bold effort the present bank had made to control the government ... are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it-Andrew Jackson

Ain't Fascism great?

As you pass this article on to people, remind them that Fascism is government control without government ownership.

No King but Jesus, no President but Ron Paul

Not on Obama's Shoulders at All

We're the ones bearing the burden.

What do you think? http://consequeries.com/