Co Bo lauded in SOTU declares bankruptcy

H

Horn6721

Hook'em
At least they waited until 2 days after so BO could give them a green shout out
from link

"Andrew Restuccia of The Hill is reporting that Ener1, a battery company that President Obama referenced in his State of The Union Speech on Tuesday as an example of successful energy investments, has just filed for chapter 11 bankruptcy.

That's just two days after the speech.


Read more:The Link

does BO have a different definition of " successful"?
 
1) Your title says he lauded a company. He didn't, he lauded a sector- the battery sector

2) The DOE, under a Bi-Partisan mandate, granted loans to A123, Ener1, Johnson Controls plus 3 related auto companies that incorporate next generation batteries. Ener1 is but one of many LOANS, not investments.

3) The loan is not under danger of not being repaid given this restructuring. Common equity to shareholders are in danger, if not gone- but a DOE loan which is senior secured is not.

4) Whatever blog you got this from was a tee bit anxious to find something to pounce on. Ener1 is still around- and signed a large joint venture with the largest Auto parts company in China to supply cars in China, as well as with Volvo in Europe, while using facilities in Indiana to produce them. They also supply grid storage projects for a company in Russia and one in Japan.

The greatest risk to Ener1 is a buyout at bad terms for equity shareholders. Nothing bad as of yet is happening to the LOAN holder.
 
mcbrett
the point is before a POTUS lauds a any segment which received taxpayer grants wouldn't you think the WH would make sure nothing embarrasing was happening with any of the recipients of our money?

Kinda reminds me os BO giving a half a bil of our money and then praising solyndra

Did you go to the link? Business Insider is hardly a conservative site hurrying to bash BO. BI referenced The HIll for the story
 
What are you babbling about, 6271? Obama didn't mention Ener1 in his SOTU address, so your post ----- the point of which was to claim that not only did he mention Ener1 and to imply that somehow it was the kiss of death because it has declared bankruptcy ---- is stupid.

Does 6271 have a different definition of " referenced"?

The only time Obama even mentioned the word "battery" was when he said that he wasn't prepared to cede leadership in battery technology to China and Germany.

To make it easy for you, here's the text of the speech:


The Link
 
Horn6271: Obama said a company was doing well but in fact it just declared bankruptcy.


Me: He did not even mention the company that you are talking about. Here's the text of his speech. Check it yourself.

MajorWhiteapples: Libs are trying to spin.


As if the question of whether Obama said what Horn 6271 said he did is a matter of spin or perception and not a matter of public record!

AHAHAHAHAHAHAHAHA!
 
I agree that the thread title of this is very misleading. When the govt decides to invest in these types of industries (and I think the investments are a good thing) there are always going to be losses. As long as their was nothing sinister going on, I do not think one can blame BO for this. And he did not mention Ener1 by name.

On another note (and this is not an attempt to call out my buddy but just an attempt at the true facts):
In reply to:
Click to expand...
 
I linked from Business Insider, hardly a right leaning source
and here is from the article
"“In three years, our partnership with the private sector has already positioned America to be the world’s leading manufacturer of high-tech batteries,” Obama said in his speech. "
anbd this last sentence from the Biz I article
"It's obviously hugely embarrassing for the president to give another green-energy company a shout-out in his prime-time speech only to have it declare bankruptcy two days later.

DEVELOPING


Read more:The Link

If business insider is wrong then they will correct it and the story then would be that yet another green company Bo gave our money to has failed like solyndra and Beacon and 9-10 others
so far we have loss over 6 billion of taxpayer money we will not get back.
Who pays unemployment , food stamps etc for all the out of work people from all these failed businesses?

of course businesses fail all the time but having this many fail in less than 2 years suggests perhaps due diligence was not done OR Bo etc makes vad decisions.
 
Again, what are you babbling about, 6271? I linked the entire text of the damn speech. It did not say what you said it did, rendering your point moot.
 
6721- BI is right. You are babbling again. Just say oops like Rick Perry would and move forward.

1) I confused the grant with a loan as they applied for a loan but did not receive it- and other, similar companies did receive a loan. So yes- I swapped the word loan for grant- as Rick Perry said, "oops."

2) I have a fanboy stalker who follows me from thread to thread analyzing my posts to see whether or not they match his views. It's very flattering ya little Bucko.
 
BI
To be Clear I did not babble
I quoted and linked to Business Insider. That source is the one who quoted Bo from the SOTU speech.
You read the text, and i guess you think no one EVER says anything in actual speech that is not of the provided text?

I do not know if BO said that, but Business Insider is not a right wing source with a tinfoil hat. If an error was made it was in the source.
So let's say Bo did not actually say what Biz In quoted him as saying,
That does not change that yet another company that got our taxpayer money went bankrupt and cost us 118 million,
Add that into the list, which now is over 10 companies that took our money and went bust. BO's incompetence is revealed with each company closing.
But I guess personal attacks are so much more important to you
 
More incompetence
Remember in 09 when BO committed 2 BILLION in LOANS to Brazil to develop a huge off shore field> He said at the time we would be rtheir customer when they got it running.
Except that china will get the oil. This was also when he was denying off shore exploration for USA. I know he relaxed that some . TOo bad he didn't do it earlier and kept that money here.
from Wash Times link
"United States wants it, but China is getting it.

Less than a month after President Obama visited Brazil in March to make a pitch for oil, Brazilian President Dilma Rousseff was off to Beijing to sign oil contracts with two huge state-owned Chinese companies.

The deals are part of a growing oil relationship between the two countries that, thanks to a series of billion-dollar agreements, is giving China greater influence over Brazil’s oil frontier.The Link

We better be getting a HUGE rate of interest on that loan. Of course I guess it never occurred to BO to loan that money to an American companfor off shore exploration for oil that could have created jobs for Americans and that oil could have stayed here.
 
BI??
What a crock of BS
You posted, "The only time Obama even mentioned the word "battery" was when he said that he wasn't prepared to cede leadership in battery technology to China and Germany. "
I guess in your fevered need to attack you can say the word batteries is not the same as battery.

read your own link and read he said EXACTLY what was quoted from the Business Article.

here, I will make it easy for you
from YOUR link
"In three years, our partnership with the private sector has already positioned America to be the world’s leading manufacturer of high-tech batteries."


If Enter1 sn't the ONLY company to get stimulus money to make " high tech betteries please proved a link to dispute.

BUT you can make all the personal attacks your little heart desires. it will not change the FACT that Bo gave 118million to Entre1 which declared bankruptcy 2 days after bo's SOTU..
And Enter 1 joins 10 other companies that got stimulus money and have FAILED>
BO wasted our 6.5 billion of our money so far
 
thanks for the link. really liked the one that reported it cost 2 MILLION of our money per job.
Not sure that is a link you want to use to show good use of our money for cell companies though.

My thread title was from Business Insider so if you want to say they lied, knock yourself out.That appears to be the most important thing in your life, to quibble over a headline.

Nothing changes the fact that yet another company Bo gave our money to failed.
 
Why can't we let the market decide where money should be invested? It is designed to do that.

Why are we trying to prop up failing businesses with money we don't even have?
 
Keep swinging at that pinata, 6271! You're bound to hit something.

Between that and moving the goalposts, maybe they'll somehow merge into a cogent argument. Maybe somehow you'll prove that a company that Obama mentioned in the State of the Uhion Address went bankrupt two days later.

Until then, since that didn't happen, you'll just look kind of silly.
 
and BI
you keep working your little self to death pretending you can't read and insisting BO did not mention the "high tech battery segment" where he wasted 118 million of our money so far.
You look foolish snarking over a headline from Business Insider when your hero has sunk over 6.5 bilion of taxpayer money into failed companies.

but keep digging/ You look right at home down there.
Have a nice week end.
 
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