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October 17, 2012

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.

digg this
posted by Ace at 04:24 AM

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