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Battery builder A123 Systems
that won $249 million federal grant
files for bankruptcy

Yahoo Auto News, by Justin Hyde |

Original Article

Posted By:mambo 5, 10/16/2012 1:01:02 PM

No company has embodied Washington's hope for an American-built electric vehicle business like A123 Systems. The Massachusetts-based company was supposed to become the leading home-grown supplier of lithium-ion batteries for automakers in the United States and around the world -- fueled in part by a $249 million grant from the Obama administration. Today, A123 Systems filed for bankruptcy, saying much of its assets would be sold after losing $857 million over the past several years. Here's why it failed.

Comments:
They are dropping like flies!

      


Post Reply  

Reply 1 - Posted by: lylacat, 10/16/2012 1:03:09 PM     (No. 8937305)

Another notch on 0bie's belt.

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Reply 2 - Posted by: Robinsolana, 10/16/2012 1:06:01 PM     (No. 8937313)

Obama's green subsidy OBundler cronies are steadily going bankrupt.


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R-G1
  
R-VAR_AD


 
Reply 3 - Posted by: Teleologicus, 10/16/2012 1:09:25 PM     (No. 8937322)

If you build it, they will not necessarily buy it - especially if the taxpayer is your venture capitalist.

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Reply 4 - Posted by: sgtfox of the jarhead clan, 10/16/2012 1:14:03 PM     (No. 8937337)

More confiscated tax money being shoveled into the rat holes ...never to be seen again.

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Reply 5 - Posted by: Kurto, 10/16/2012 1:18:10 PM     (No. 8937346)

Like Mitt Romney said, 0bama only picks losers.

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Reply 6 - Posted by: wlit22z, 10/16/2012 2:26:33 PM     (No. 8937551)

And another one bites the dust! Is anyone keeping count?

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Reply 7 - Posted by: jgat, 10/16/2012 2:31:21 PM     (No. 8937562)

Can anybody in the "green" electric generation/storage business produce a useful business plan or does the presence of taxpayer's money result in mental paralysis?

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Reply 8 - Posted by: whyyeseyec, 10/16/2012 2:32:43 PM     (No. 8937571)

How much in bonus`es and retirement pay are we on the hook for with this company?

Probably more than the initial loan....

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Reply 9 - Posted by: GOP_U_BET, 10/16/2012 2:34:14 PM     (No. 8937578)

I keep hearing that song:

And another one gone, and another one, and another one bites the dust!

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Reply 10 - Posted by: pineledger, 10/16/2012 3:56:27 PM     (No. 8937826)

Another of Zip's stellar investments.

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Reply 11 - Posted by: Griller1, 10/16/2012 5:38:35 PM     (No. 8938054)

We all know that these are friends of, or friends of friends of, the president. They all got a boatload of taxpayer money so that they'll all be extremely wealthy for generations to come. There needs to be a major investigation as to whom these people were connected, and then many people should go to prison and never see freedom again.

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Reply 12 - Posted by: beca, 11/19/2012 8:20:45 AM     (No. 9023306)

does anyone care enough to do anything about this..........the lame of brains reelected him.....a sign to keep wasting...and GIVING....

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B-G1


 

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