Battery maker A123 Systems files for bankruptcy
 

Another company that got major money under Obama has failed. :roll:

Government-funded battery maker files for bankruptcy - Bottom Line

Re: Battery maker A123 Systems files for bankruptcy
 

Hmmm...I wonder how many of those "failing" companies did nothing but take the money and run.

Re: Battery maker A123 Systems files for bankruptcy
 

so its obamas fault:roll:..you think these technologies neednt be explored, bush started the funding


Under Obama, the government has invested about $5 billion in the U.S. electric car industry through loans to auto companies including Fisker and Tesla, grants to companies such as A123, and tax credits of as much as $7,500 for customers who buy plug-in cars. Some of the current administration’s investment is a continuation of programs begun during Republican George W. Bush’s presidency, before Obama took office in January 2009.
Republican Support

The company, which started with processes developed at the Massachusetts Institute of Technology, sold its first products when Romney was the state’s governor. It received U.S. grants in 2003 and 2007 under Bush’s administration. The 2003 grant, from an Energy Department program for small businesses, was A123’s first outside funding, then-Energy Secretary Samuel Bodman said in a 2008 speech.
A123 Chief Executive Officer David Vieau met with Bush at the White House in 2007, according to an A123 press release and White House video of the event.
A123 was one of the companies named in a letter from the Michigan congressional delegation supporting stimulus grants for battery suppliers. Signers of the May 2009 letter to Energy Secretary Steven Chu included Representative Fred Upton, a Republican who later criticized Energy Department green-energy loans, and then-Representative Thaddeus McCotter, a Republican who resigned in July.
They cited the state’s support for companies including A123 and Johnson Controls Inc. (JCI) and asked that the U.S. government follow suit.
A123 was given $125 million in refundable tax credits from the state of Michigan that it never collected, said Mike Shore, spokeswoman for the Michigan Economic Development Corp. The company did collect a $10 million state grant, he said.

Re: Battery maker A123 Systems files for bankruptcy
 

ya thats what im figuring

Re: Battery maker A123 Systems files for bankruptcy
 

Lipos out volted them.

And they weighed less. It was bad timing for the A123.

Re: Battery maker A123 Systems files for bankruptcy
 

The vast majority of the money thrown into this "Green" BS stank just as much as the half assed "Cash for Clunkers" program. When the market has clearly shown it does not want the "technology" it does not do much good to keep throwing money at it and shoving it down the peoples throat. It is especially bad promoting plug in electric vehicles when the majority of our electric in the US is produced by fossil fuels and our electrical grid is an antiquated nightmare.

Re: Battery maker A123 Systems files for bankruptcy
 

yeah it's obama's falt, he wants the money back now :lmao: ........bob

....

Re: Battery maker A123 Systems files for bankruptcy
 

yup its all his fault for trying to move our nation away from finite forms of energy... lets scrap all green energy programs and just keep pumping oil bc its great for the environment and will never run out:roll:

Re: Battery maker A123 Systems files for bankruptcy
 

So are you saying our power grid is an antiquated nightmare due to electric cars? Did you know a standard queen size water bed draws more electricity in a week then electric car charging in a month

Re: Battery maker A123 Systems files for bankruptcy
 

We just got a good portion of our grid upgraded and beefed up. It needed it too. Thank you Mr. President. :mrgreen:

Re: Battery maker A123 Systems files for bankruptcy
 

Yeah, and how many people do you know of that still own water beds?

Truthfully, I'm pretty sure the grid will be just fine. If they can build houses by the thousands, along with malls, shopping centers, etc etc etc, the grid can handle electric cars.

Re: Battery maker A123 Systems files for bankruptcy
 

I really do not know how you came up with that out in left field conclusion. Try reading it again, or find a 3rd grader to explain it to you.

Yeah they replaced antiquated old shit with antiquated new shit.:ror:

Re: Battery maker A123 Systems files for bankruptcy
 

I don't know what the fuk you're laughing at, that was our money...

Re: Battery maker A123 Systems files for bankruptcy
 

PERFECT DEM ANSWER. Deflect and blame Bush.

Re: Battery maker A123 Systems files for bankruptcy
 

:ror:

Re: Battery maker A123 Systems files for bankruptcy
 

That is so funny. I bet you read that on a blog while you were camped out to get your Iphone 5.




I idea of an electric car is great. The execution has fallen short, and it is being subsidized by the American taxpayer. We are all paying for a few to buy overpriced under performing vehicles. In 100 years it should be a viable option. RIGHT NOW, it is not, no matter how much money Obama throws at it.

Re: Battery maker A123 Systems files for bankruptcy
 

Michael Moore said it would be like this.

Re: Battery maker A123 Systems files for bankruptcy
 

not blaming anyone..a123 holds the blame..the op makes it sound as if its obamas fault..i simply looked it up and thats what i found..wasnt looking for that answer per se..i just find it funny that everything is obummers fault..they are all ****in goofs..but these technologies need to be explored and it has to start somwhere..nothing wrong with the concept..i think a123 took what was left of the money and ran

Re: Battery maker A123 Systems files for bankruptcy
 

Well of course they did, it was Fox! Find that same story on CNN and it will say that it's Bush's fault....or Romney's.....or....or...


They certainly did! And our dumbass government now has no recourse because they handed out this cash with zero stipulations....:roll:

Re: Battery maker A123 Systems files for bankruptcy
 

true enough