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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.


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posted by Ace at 04:24 AM

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