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2012-01-26 Home Front: Politix

Taxpayers Lose Another $118.5 Million As Next Obama Stimulus Pet Project Files For Bankruptcy

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Posted by tipper 2012-01-26 13:03|| || Front Page|| [6 views ] Top

#1 At this point, anything Obama wants to invest in I'm investing in the direct competing technology.

Posted by DarthVader 2012-01-26 13:12|| 2012-01-26 13:12|| Front Page Top

#2 fwiw, IIUC, this is a chapter 11 bankruptcy which means the company may successfully emerge and prosper

it all depends on whether their lithium battery technology (based on various patents and proprietary designs) can work in a real world situation and also be cost effective

the company has already burned it's way through about half of the $118M without producing a workable prototype but they have actually lined up some private equity who will invest post chapter 11

Posted by Lord Garth 2012-01-26 14:04|| 2012-01-26 14:04|| Front Page Top

#3 I've noticed that ,amy start-up companies will get a producr with the capital and then Bankrupt, screwing the original investers and whatcanyoudoaboutit.
Un other wotds YOURGUJT.

Posted by Redneck Jim 2012-01-26 19:33|| 2012-01-26 19:33|| Front Page Top

#4 And the list continues to grow:

SOLYNDRA, LIGHTSQUARED, Evergreen, SpectraWatt, BrightSource, Tonopah Solar, Abound Solar, Nevada Geothermal Power, sun power, Granite Reliable, ProLogis, Monroe Regional Airport, Beacon power, Siga Technologies Inc, Fisker,Willard & Kelsey, Ener1

Posted by newc 2012-01-26 19:57|| 2012-01-26 19:57|| Front Page Top

#5 Obama only invests our money in projects or companies to benefit his backers. In truth his backers probably make money by the truck-load during the transactions - probably through some vehicle akin to a "commission" for obtaining the funding. The only people burned in theses bogus ventures are the true-believers that didn't understand that the business was a shell just for the purposes of bilking the suckers ... the tax payers.

Posted by Super Hose 2012-01-26 20:24|| 2012-01-26 20:24|| Front Page Top

#6 "they have actually lined up some private equity who will invest post chapter 11"

That's what they should have done in the first place, LG. >:-(

Posted by Barbara 2012-01-26 22:45|| 2012-01-26 22:45|| Front Page Top

23:03 Broadhead6
22:52 Dale
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