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Old Jan 26, 2012, 09:43 PM
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Another one bites the dust ... along with 118 million bucks

http://cnsnews.com/news/article/elec...les-bankruptcy
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Old Jan 26, 2012, 09:49 PM
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Last night, President Obama set a goal of making the United States the first country in the world to put one million advanced technology vehicles on the road,” Levine wrote. “This goal is part of the President’s plan to rebuild our economy by investing in innovation to create the jobs and industries of the future.
Reminds me of the glorious progress in Central Planning called the USSR. Oblivious to what citizens *actually* wanted, they'd boast yearly of how many tractors they produced (and sat idle for fuel or parts) and how many million tons of concrete they produced and poured...while people lined up for toilet paper and stole light bulbs from State factories.

We don't need State Central Planning to determine what the 'future' is based on their own pet wishes and interpretations of what is important. We can decide what we want and plan for it just fine....and at less risk and cost than this latest version of Comrade Kars.
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Old Jan 27, 2012, 12:30 AM
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Not exactly biting the dust.

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Unlike bankrupt Solyndra, the advanced solar panel maker that became a lightning rod for critics of Obama's stimulus spending when it closed its factory and liquidated, Ener1 promised its business will proceed as usual.

The company said the "voluntarily initiated" bankruptcy filing won't impact any of its subsidiaries, including EnerDel.

"The restructuring will not adversely impact their employees, customers and suppliers," the company said in a press release, noting there will be no layoffs as a result of the action.

http://money.cnn.com/2012/01/26/tech...ptcy/index.htm
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Old Jan 27, 2012, 02:24 AM
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So much for hyperbole.


Next...
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Old Jan 27, 2012, 05:45 AM
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It only affects those who lent it money.........wow!

Wonder what impact bankruptcies had on the downturn in the economy?

Somehow I think it was never created to be used the way it is now.
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Old Jan 27, 2012, 07:34 AM
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No, that's EXACTLY what "biting the dust is" because what "bit the dust" is a load of taxpayer money that we did not choose to "invest" in this risky business.

So yea, what we're talking about here is very much the biting of the dust.
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Old Jan 27, 2012, 08:10 AM
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So much for hyperbole.


Next...
What hyperbole? By filing bankrupcy (voluntary or not) 118 million in taxpayer funds went poof.

Solyndra was the absolute worst case ... a complete and utter meltdown. What this company did is what SHOULD have happened with the auto industry ... a restructuring and reassessement under the protection of bankrupcy laws.

But regardless ... the Government once again has thrown taxpayer money down a "green" hole ... good money after bad ... seems like the theme for this Government.
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Old Jan 27, 2012, 08:15 AM
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What hyperbole? By filing bankrupcy (voluntary or not) 118 million in taxpayer funds went poof.
You might want to actually read the article before making statements like that.

Quote:
Ener1 spokesman Guy Westermeyer told CNSNews.com the brankruptcy would not affect the use of the stimulus grant, which went to the Ener1 subsidiary EnerDel.
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Old Jan 27, 2012, 08:20 AM
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You might want to actually read the article before making statements like that.
Snap GIRL!!! OH NO YOU DIDN'T!!!!!



Triple clap with a backside snap!
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Old Jan 27, 2012, 08:28 AM
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You might want to actually read the article before making statements like that.
Sure it wont affect the "USE" of the stimulus money. Who said anything about that? What I'm pissed off about is the fact that stimulus money was given in the first to prop up an industry that's failing because the market isn't there. And wishing it to be there by throwing good money after bad isn't going to make it happen.

Going bankrup won't change the fact that the money was granted. Won't change the fact that the government is picking winners and losers. In the end, the money was given and the taxpayers are once again left holding the bill.

And to the point ... off setting the money in the books to a subsidiary while the parent is in financial troubles ... I thought we were against companies doing book-keeping slights of hand? Or are we okay with that now?
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Old Jan 27, 2012, 08:31 AM
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Sure it wont affect the "USE" of the stimulus money. Who said anything about that? What I'm pissed off about is the fact that stimulus money was given in the first to prop up an industry that's failing because the market isn't there. And wishing it to be there by throwing good money after bad isn't going to make it happen.

Going bankrup won't change the fact that the money was granted. Won't change the fact that the government is picking winners and losers. In the end, the money was given and the taxpayers are once again left holding the bill.
Dude, there isn't a market for screwing around in middle-eastern countries for no good reason either. But we sure as heck toss a lot more than 118m into that mess...
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Old Jan 27, 2012, 08:33 AM
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Dude, there isn't a market for screwing around in middle-eastern countries for no good reason either. But we sure as heck toss a lot more than 118m into that mess...
True. I can't argue with that. However, the magnitude of the money wasted in the middle-east doesn't in anyway make the money wasted here somehow "ok".
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Old Jan 27, 2012, 08:39 AM
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Originally Posted by logan5 View Post
Sure it wont affect the "USE" of the stimulus money. Who said anything about that? What I'm pissed off about is the fact that stimulus money was given in the first to prop up an industry that's failing because the market isn't there. And wishing it to be there by throwing good money after bad isn't going to make it happen.

Going bankrup won't change the fact that the money was granted. Won't change the fact that the government is picking winners and losers. In the end, the money was given and the taxpayers are once again left holding the bill.

And to the point ... off setting the money in the books to a subsidiary while the parent is in financial troubles ... I thought we were against companies doing book-keeping slights of hand? Or are we okay with that now?
The fact is $118 million did NOT go "poof" as you stated.
But, hey, keep playing the same ol' song. It's a catchy tune around here.
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Old Jan 27, 2012, 08:41 AM
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True. I can't argue with that. However, the magnitude of the money wasted in the middle-east doesn't in anyway make the money wasted here somehow "ok".
But it eclipses it like the Moon literally hovering over a kitten.



Perspective. We need to nuke the insanely stupid expenditures before picking nits.

The only reason folks are picking this nit, is because it fits into the category of "Obama Ammo™." And lord knows we always need more reasons to loath the deceiver in chief...
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Old Jan 27, 2012, 08:47 AM
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But it eclipses it like the Moon literally hovering over a kitten.



Perspective. We need to nuke the insanely stupid expenditures before picking nits.

The only reason folks are picking this nit, is because it fits into the category of "Obama Ammo™." And lord knows we always need more reasons to loath the deceiver in chief...
no ... i pick at it because it's an example of Government interfering with the natrural flow of buisness. This administration has a boner for "green" tech ... something that's pretty much been a bust. But other administrations in the past are just as guilty.

This is a systemic problem with Government in general.

If it were "just" an issue of "perspective" ... then we shouldn't be concerned when the Government sanctions the murder of an American Citizen without a trial or due process ... heck it's just one person out of a population of 300 million right?
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