Of Course: Green Job$ $timulu$ Recipient, A123 Battery, Files For Bankruptcy

You don't just pick the winners and losers -- you pick the losers.

The troubled battery maker A123 Systems filed for bankruptcy on Tuesday, dealing a blow to the Obama administrationís program to jump-start a domestic battery industry and spur development of electric vehicles.

The companyís bankruptcy filing was unexpected...

Of course it was. It was unexpected because they agreed to sell to a Chinese battery firm. But that fell through. In its bankruptcy filing, it announced it was now selling part of its assets to... another company that got Green Job$ Money from Obama'$ Taxpayer-Shaped Piggy Bank.

123, based in Waltham, Mass., was once considered one of the most promising grant recipients under the administrationís $2 billion stimulus program for electric car development.

That was the most promising grant recipient?

Well. Can't wait to see how the less promising ones fare.

BTW: Lot of good stuff below. Blogged through most of the night. (It's important to get an early start on the post-debate charges and counter-charges.)

But there's a lot of good stuff underneath. The midnight post on the real poll numbers is pretty good, as is Andy's post on Candy Crowely's walkback.

Hitting the sack now.

Posted by: Ace at 04:24 AM



Comments

1 So Ace is FINALLY calling it a night?

I win!

Posted by: logprof at October 17, 2012 04:28 AM (jKE+Z)

2 N.B.

Link goes to NYT.

Fuck them, don't click it.

Posted by: logprof at October 17, 2012 04:29 AM (jKE+Z)

3 Thanks, Ace. Sleep well!

Posted by: Popcorn at October 17, 2012 04:30 AM (uIpSF)

4 CNN "Fact Check" of Benghazi timeline: Oct 17th:

"The conclusion: Romney's comment was false. Obama did
describe the killings in Benghazi as an act of terror twice within two
days, though -- in an interview two weeks after the attack -- he
appeared to reserve judgment. Two days later, his spokesman clarified
his position.
" (http://tinyurl.com/8rk4s3r)


CNN Article: Friday, September 21st:
"The White House, for the first time Thursday, declared the attack that killed Stevens and three other people a terrorist attack.

"It is, I think,
self-evident that what happened in Benghazi was a terrorist attack,"
said White House spokesman Jay Carney, speaking to reporters on Air
Force One."
(http://tinyurl.com/8zq7w82)

Are they fucking kidding me? I wonder where we got the idea -- maybe your own fucking reporters?

Posted by: Uriah Heep at October 17, 2012 04:31 AM (jhI6f)

5 Are they fucking kidding me? I wonder where we got the idea -- maybe your own fucking reporters?

Posted by: Uriah Heep at October 17, 2012 04:31 AM (jhI6f)

--Epic pwnage.

I shall bookmark this comment.

Posted by: logprof at October 17, 2012 04:32 AM (jKE+Z)

6 Good night, Ace, you earned it! Great posts tonight, I esp. appreciated the individual questions from the snap polls.

Posted by: Aslan's Girl at October 17, 2012 04:32 AM (KL49F)

7 DOH!!

I bought AONE at $18 or so... luckily it was only 20 shares.

Posted by: Chi-Town Jerry at October 17, 2012 04:33 AM (UTq/I)

8 6 Good night, Ace, you earned it! Great posts tonight, I esp. appreciated the individual questions from the snap polls.

Posted by: Aslan's Girl at October 17, 2012 04:32 AM (KL49F)


--Agreed!

Posted by: logprof at October 17, 2012 04:33 AM (jKE+Z)

9 Thank you, ace!

Posted by: Truman North at October 17, 2012 04:41 AM (I2LwF)

10 lulz

A123 Battery what an original name!

Posted by: Teh Phone Book at October 17, 2012 04:41 AM (jKE+Z)

11 Huh huh... He said "sack"

Okay, I'm slap happy

Posted by: Truman North at October 17, 2012 04:43 AM (I2LwF)

12 Fwapwapwapwap! Thanks, Ace!

Posted by: Derak at October 17, 2012 04:43 AM (lkjWK)

13 Unexpected!

Posted by: Otis Criblecoblis at October 17, 2012 04:45 AM (IlZPo)

14 Posted by: Uriah Heep at October 17, 2012 04:31 AM (jhI6f)

I see Breitbarts face: "WAR". Finish them!

Posted by: Derak at October 17, 2012 04:46 AM (lkjWK)

15 ...of *course* this was withheld from publication until *after* the last debate containing domestic policy issues (and obviously having an energy-policy question or two).

"the new york times today reported another one of your green-energy subsidies was bankrupted. you still having trouble with why i'm calling them "phantom jobs"? it's because they're all DYING" ~.~

Posted by: jimi ray at October 17, 2012 04:47 AM (79EF9)

16 Goodnight, Ace. Thanks for all your hard work tonight.

Posted by: Samwise Gamgee at October 17, 2012 04:48 AM (u8eBQ)

17

I'm just now listening to Levin's podcast and he also noted how lame the name A123 is for the same reasons.

GMTA.

Posted by: logprof at October 17, 2012 04:48 AM (jKE+Z)

18 CNN needs to have a talk with Crowley. She thinks she was wrong, too.

In about an hour, Gabe is gonna be all, "I guess I'd better get the headline thread ready... how did the ONT go? Wait, what?"

Posted by: Merovign, Dark Lord of the Sith at October 17, 2012 04:49 AM (bxiXv)

19 @4

eh? when was this? i watched anderson cooper say out of his own mouth that obama and crowley were wrong, and even pulled crowley on to challenge her.

that's actually where she walked her interruption back.

Posted by: jimi ray at October 17, 2012 04:50 AM (79EF9)

20 I provided the links in my post. CNN has institutionalized ideology to maintain.

Posted by: Uriah Heep at October 17, 2012 05:01 AM (jhI6f)

21 Weekly Standard points out the AFLCIO's Florida group website violates the law, advocates members violate the law, with slogan "Vote Early, Vote Often."

Holder's DOJ investigates in 999,999,999... 999,999,998... 999,999,997...

Posted by: Merovign, Dark Lord of the Sith at October 17, 2012 05:06 AM (bxiXv)

22 @20

oh wow, yeah. i read it. unbelievable.

they should have a talk with their own host (ac is on cnn btw since you prolly don't ever watch him xP)! i know he's got to be as liberal as they come -- native manhattanite pretty gay boy vanderbilt -- but at least he cares enough about maintaining professionalism that he doesn't take the party-sanctioned, obama-covering line on this one! he always seems to be pretty fair into me when it comes to challenging bs on both sides.

neway i have to go thru my nightly lotion motions and try to get an hr and a half or so of sleep ~.~

night, morons. sleep well. dream heavy xD

Posted by: jimi ray at October 17, 2012 05:08 AM (79EF9)

23 I'm just now listening to Levin's podcast and he also noted how lame the name A123 is for the same reasons.

It's a shame they didn't name it Orion. I just love hearing Barky try to pronounce that word.

"Oh'-ree-ahn!"

Posted by: ThePrimordialOrderedPair at October 17, 2012 05:14 AM (X3lox)

24 Goodnight sweet prince and may flights of Ewoks sing thee to thy rest.

Posted by: andycanuck at October 17, 2012 05:17 AM (vDl/w)

25 I thought Benghazi would be classified as a man-caused disaster, eventually ... in the context of our overseas contingency operations. I was under the impression that Barky didn't like to use the nasty word "terrorist" ... except with respect to dangerous Tea Partiers and Constitutionalists.

Posted by: ThePrimordialOrderedPair at October 17, 2012 05:21 AM (X3lox)

26 The booze has at last been drained.

G'night, y'all!

Posted by: logprof at October 17, 2012 05:25 AM (jKE+Z)

27 23 I'm just now listening to Levin's podcast and he also noted how lame the name A123 is for the same reasons.

It's a shame they didn't name it Orion. I just love hearing Barky try to pronounce that word.




It should have been called Battery* Corps, Barky would have called it Battery* Corpse and been correct for once.


* http://www.youtube.com/watch?v=m99ybtk4QNs

Posted by: s☺mej☼e at October 17, 2012 05:37 AM (HNn1q)

28 It should have been called Battery* Corps, Barky would have called it Battery* Corpse and been correct for once.


* http://www.youtube.com/watch?v=m99ybtk4QNs

Posted by: s☺mej☼e at October 17, 2012 05:37 AM (HNn1q)


LOL. Much better!

Posted by: ThePrimordialOrderedPair at October 17, 2012 06:03 AM (X3lox)

29 Damn, Ace is really working the ONT horde...can barely get 50 comments per post.....and a new one drops.

Posted by: Icedog at October 17, 2012 06:04 AM (9ScGj)

30 I'm hanging in if Ace is hanging in...

Posted by: Richard at October 17, 2012 06:07 AM (5t/xx)

31 29 Damn, Ace is really working the ONT horde...can barely get 50 comments per post.....and a new one drops.

Posted by: Icedog at October 17, 2012 06:04 AM

Would you say he has a plethora of posts?

Posted by: otho at October 17, 2012 06:17 AM (yBF/9)

32
So...
When we kick the SCFOAMF through the screen door of the American experience, I hope that Romney will hit the ground running and slash the room full of Czars that have run rough-shod over our country for the last 4 years and punt their sorry asses through the goal-posts of life....so to speak.
I was going to say something else...but I wanted this to be work safe...

Posted by: Richard at October 17, 2012 06:18 AM (5t/xx)

33 I wonder what kind of environmental mess these "green" companies left behind. Making solar cells and batteries is nasty work.

Posted by: Jean at October 17, 2012 06:24 AM (CofEF)

34 You have a plethora.

Posted by: Jefe at October 17, 2012 06:24 AM (K1RsC)

35 What news, this early hour?

Posted by: Richard at October 17, 2012 06:27 AM (5t/xx)

36
Uhm..........

Your turn.....?

Posted by: Richard at October 17, 2012 06:31 AM (5t/xx)

37
Sorry....

"AND NOW TO VIC FOR THE MORNING NEWS......."

Posted by: Richard at October 17, 2012 06:33 AM (5t/xx)

38 I wonder what kind of environmental mess these "green" companies left behind. Making solar cells and batteries is nasty work.

Posted by: Jean at October 17, 2012 06:24 AM (CofEF)


Not to mention all the bankruptcy paperwork that lingers in landfills for tens of thousands of years ...

Posted by: ThePrimordialOrderedPair at October 17, 2012 06:33 AM (X3lox)

39 can you imagine starting a business and failing after being given an $250 million dollar grant? Not only that, but failing after what...2 or 3 years?

Posted by: reality man at October 17, 2012 06:33 AM (L2x1w)

40 .....

Posted by: Richard at October 17, 2012 06:38 AM (5t/xx)

41 No of the green companies failed. So far, they have succeeded spectacularly. They are a third world style raiding of the treasury and since no one is likely to go to jail have worked just fine.

And that explains how you get an unthinkably large grant and go bankrupt in 2 or 3 years.

Posted by: typo dynamofo at October 17, 2012 06:44 AM (+VMZ0)

42 39 can you imagine starting a business and failing after being given an $250 million dollar grant? Not only that, but failing after what...2 or 3 years


How much of that $250mil was skimmed off before it made it to the factory?

Posted by: BignJames at October 17, 2012 06:44 AM (HtUkt)

43 Obama's "Green" slush fund...

Posted by: Richard at October 17, 2012 06:46 AM (5t/xx)

44 How much of that $250mil was skimmed off before it made it to the factory?
Posted by: BignJames at October 17, 2012 06:44 AM (HtUkt)

Good point. And how much of that went to the DNC.

Posted by: Oldsailors Poet, Wonders what Dagny thinks at October 17, 2012 06:48 AM (kc2b9)

45 I see...the sleeze

Posted by: Richard at October 17, 2012 06:48 AM (5t/xx)

46 These green scammers are a bunch of damned pikers. Give me 250 million bucks, and I can blow through it in less than a year.

Posted by: Sticky Wicket at October 17, 2012 06:48 AM (L7hol)

47 46 These green scammers are a bunch of damned pikers. Give me 250 million bucks, and I can blow through it in less than a year.
Posted by: Sticky Wicket at October 17, 2012 06:48 AM (L7hol)

Yep, private Jets, Helicopters, Hookers, Blow, wrecked Ferraris ans knocked up 18 year olds. Not a problem.

Posted by: Oldsailors Poet, Wonders what Dagny thinks at October 17, 2012 06:51 AM (kc2b9)

48 Anyone check out that crappy article linked at Drudge about the wealthiest people in history?

http://tinyurl.com/cpxqteb

I don't know what sort of weird measure these idiots were using but it's a pretty pathetic list. Genghis Khan and Alexander the Great, both of whom owned just about the whole known world, didn't even make the list. I'm not sure how someone squares that.

This is one of those points at which a reasonable person would understand that their model has broken down.

Posted by: ThePrimordialOrderedPair at October 17, 2012 06:52 AM (X3lox)

49 Oh, they will sell the tech and the plants to China cheaply.

Posted by: Sexypig at October 17, 2012 06:52 AM (QQSzN)

50 And heck, if they let me relocate temporarily to Vegas, I could probably knock a couple more months of that time, (and knock up a few more 18 year olds).

Posted by: Sticky Wicket at October 17, 2012 06:53 AM (L7hol)

51 "A123" sounds a lot like ZZZZ Best.

Posted by: Michael Rittenhouse at October 17, 2012 08:31 AM (2Oas0)

52 Wait. I thought it was called ACME 123 Battery Co.

Posted by: @ParisParamus at October 17, 2012 08:45 AM (pMxhO)

53
If I were picking a rechargeable battery company to invest in, the A123 Company would have been toward the top of the list. But I'm coming from the point of view of an electric model airplane enthusiast, and the A123 technology is among the best out there.
But that's for powering small electric motors--most of th em no more than an inch or so in diameter, and generating at most, a couple of horsepower. That wouldn't even power the Bamster's golf cart.
To Obama with his enviro wet dream of vast fleets of electric cars A123 sounded good. If he'd had any real world experience (like say Mitt Romney) he would have looked at that pitch and said "not ready yet".
Government ought not to decide who the winners and losers in the business world are--because government has a real tendency to pick the losers. Hellfire, it's okay--it's someone else's money and if I screw up, no sweat off my brow. Mittens realizes that in fact tax dollars ARE the sweat off somebody's brow, and he's not likely to blow billions on environmental wet dreams.

Posted by: Comanche Voter at October 17, 2012 08:45 AM (oe1aw)

54 Ace, you're a stud, thanks for doing this.

Posted by: JFirch at October 17, 2012 01:20 PM (cy23I)

55 Lotta actually good stuff is languishing due to the depression and Obama squandering all this tech money on losers.

Posted by: @PurpAv at October 17, 2012 01:31 PM (RPxaa)

56 Obama is a stuttering clusterf*ck of a miserable failure.

Posted by: steevy at October 17, 2012 02:15 PM (6o4Fb)






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