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ReVolt Technology, backed by
Oregon, Portland tax money,
heads for bankruptcy

Oregonian, by Richard Read

Original Article

Posted By:annapolis2010dad, 10/22/2012 9:21:16 AM

Another publicly subsidized green company is going under, this one -- called ReVolt Technology -- backed in Portland by city and state taxpayers. Losses on ReVolt are tiny compared to those at Solyndra Inc., the notorious California solar company that tanked after receiving a $535 million federal loan guarantee. Portland and the state of Oregon had committed $6.8 million to ReVolt, which also landed a $5 million federal grant.

Comments:
I truly believe the amount of money gone up in smoke on green energy by liberals is directly proportianal to the amount of dope smoked by the same bunch!
There is mandatory drug testing at private businesses for a reason.

      


Post Reply  

Reply 1 - Posted by: Garage Logician, 10/22/2012 9:29:33 AM     (No. 8952006)

Revolting.

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Reply 2 - Posted by: f64, 10/22/2012 9:41:38 AM     (No. 8952042)

Why am I not shocked?

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R-G1
  
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Reply 3 - Posted by: Johnny Angle, 10/22/2012 9:44:28 AM     (No. 8952055)

Because the batteries don't work.

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Reply 4 - Posted by: sinic, 10/22/2012 9:49:11 AM     (No. 8952068)

"Losses on ReVolt are tiny compared to"!
So 6.8 mil + 5 mil of various flavors of taxpayer money is just a drop in the bucket? Throw in a few more "tiny" ones and you'll have some REAL money!

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Reply 5 - Posted by: SgtMike, 10/22/2012 10:05:23 AM     (No. 8952109)

This is about the 3rd company in the last 6 months to steal taxpayers money in Portland. My question is how many public officials that supported tis received contributions.Portland is a bueatiful city but the people who live there for the most part ore just plain stupid.

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Reply 6 - Posted by: treecat, 10/22/2012 11:26:15 AM     (No. 8952391)

fta: "Jeff Allen, executive director of Drive Oregon, an electric vehicle industry group, said: '

"The problem is always going to be," Allen said, "can you make enough progress on the technology to attract enough money to keep you going to the point where you have something commercially ready that you can sell?" '

Sarcasm: only if tax $s continue to support our life style. how many $s were returned as 'Donations?'



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Reply 7 - Posted by: QRP, 10/22/2012 11:26:16 AM     (No. 8952392)

A fool and his money are soon parted.
What do you expect in a state that doesn't trust its citizens to pump their own gas.

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Reply 8 - Posted by: JimJr, 10/22/2012 11:34:59 AM     (No. 8952437)

Another one bites the dust (with musical accompaniment).

https://www.youtube.com/watch?v=rY0WxgSXdEE

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