Government Battery Company Goes Bankrupt

Government-funded battery maker files for bankruptcy details how another government backed clean energy program is having finacial trouble and is being bought by of all people, the Chinese. People complain about the unemployement rate and not having enough money to help the unemployed out, yet they back the government in helping out energy companies out that end up failing. This is the 5th company that has gone belly up with backing from the Obama administration. Yeah, change we can believe in. How is that working out when we keep losing money of failed companies. People want social programs, yet do not complain about the feds backing corporations in place of using that money for those social programs due to it being "clean" energy. They complain about military spending, yet not about how stimulus money isn't doing any good, Get real.

Should the government decide which companies to back and fund or not?

Lol. Here is a funny tweet by Fred Thompson from the summer:

Fred ThompsonVerified@fredthompson20 Jul

Solar plant in Vegas gets $20M govt cash & fails. Great. Obama found a way to lose money investing in solar company located in desert. #tcot

Lol. Here is a funny tweet by Fred Thompson from the summer:

Fred ThompsonVerified@fredthompson20 Jul

Solar plant in Vegas gets $20M govt cash & fails. Great. Obama found a way to lose money investing in solar company located in desert. #tcot

whipassmt

I can hear him saying that in the voice he uses to tell the other Navy officer on the aircraft carrier about Jack Ryan in The Hunt For Red October. Too funny.

Businesses should not have an opportunity to sway government to their favor and government should keep out of business but focus on enforcing consistent and fair regulations.

You can complain all you want, but we need to move to green tech, and yes there are going to be casualties along the way, it's all part of progress.

You can complain all you want, but we need to move to green tech, and yes there are going to be casualties along the way, it's all part of progress.

TopTierHustler

Oh, I agree we need green tech, but not at the expense of taxpayers.

[QUOTE="TopTierHustler"]

You can complain all you want, but we need to move to green tech, and yes there are going to be casualties along the way, it's all part of progress.

WhiteKnight77

Oh, I agree we need green tech, but not at the expense of taxpayers.

Because military spending is about 1,000 times the amount of money given to green energy programs. And we've relatively little to show for it after 10 years.

yet not about how stimulus money isn't doing any good

WhiteKnight77

First get your head out of your arse.

lol why do so many americans hate the environment?

Because military spending is about 1,000 times the amount of money given to green energy programs. And we've relatively little to show for it after 10 years.

XaosII

lol why do so many americans hate the environment?

tenaka2

Where have I ever stated that I hate the environment or claimed to hate it. Personally, I think we need to do away with the suburb type of living so we can get people out of cars and allow them to walk or bike to work, but as long as governments keep stupid zoning laws in place, we will have such.

As a pedestrian, I can smell dirty running cars as I walk down the street (it helps that I was a former auto mechanic). It is amazing how many cars and truck spew garbage, but one cannot make people take proper car of their cars when there are inspections, if there are any at all, just once a year. Less than half the states have vehicle safety inspections with even fewer having emissions testing and if there are emissions testing, it is in certain areas of the state only. Heck, even in the Metro Atlanta area of Georgia there are only 13 counties that have to have vehicles smog tested and even then, if a vehicle is 25 years or older, they are exempted. Those are exactly the cars that should be tested and yes, I think they all should be tested.

I am all for smog controls on industries, even if it makes my products just a bit more expensive.

As for other Americans, I can't answer for them.

[QUOTE="tenaka2"]

lol why do so many americans hate the environment?

WhiteKnight77

Where have I ever stated that I hate the environment or claimed to hate it. Personally, I think we need to do away with the suburb type of living so we can get people out of cars and allow them to walk or bike to work, but as long as governments keep stupid zoning laws in place, we will have such.

As a pedestrian, I can smell dirty running cars as I walk down the street (it helps that I was a former auto mechanic). It is amazing how many cars and truck spew garbage, but one cannot make people take proper car of their cars when there are inspections, if there are any at all, just once a year. Less than half the states have vehicle safety inspections with even fewer having emissions testing and if there are emissions testing, it is in certain areas of the state only. Heck, even in the Metro Atlanta area of Georgia there are only 13 counties that have to have vehicles smog tested and even then, if a vehicle is 25 years or older, they are exempted. Those are exactly the cars that should be tested and yes, I think they all should be tested.

I am all for smog controls on industries, even if it makes my products just a bit more expensive.

As for other Americans, I can't answer for them.

You can complain all you want, but we need to move to green tech, and yes there are going to be casualties along the way, it's all part of progress.

TopTierHustler

This has been explained to him. Prize-winning economists have been cited. Precedent of monumental success after continued investment in other industries has been shown. He doesn't care, gubberment is wasting mah moneyz!

Because military spending is about 1,000 times the amount of money given to green energy programs. And we've relatively little to show for it after 10 years.

XaosII

Not true, we have an enormous defecit to show for it. Oh wait, I forgot, that's the Kenyan socialist's fault.

The administration sure does know how to pick the losers.

The administration sure does know how to pick the losers.

airshocker

It's the nature of the industry. Even the top VCs in the world know they're going to take a flyer on a significant portion of their tech investments; the key is to make back the difference on the successes. While I'm sure there's an argument to be made as to whether or not this government investment program will be effective, "OMG a handful of companies in a nascent, high-risk industry went belly-up" isn't one of them.

This is the 5th company that has gone belly up with backing from the Obama administration.

WhiteKnight77

I can't tell if that's a large number or not. That's 5 out of how many total? 10? 100? 1000?

EDIT: looks like the article says those 5 companies made up less than 1% of the total $90 billion package the Department of Energy spread out to various clean energy projects. What's the big deal?

Lol. Here is a funny tweet by Fred Thompson from the summer:

Fred ThompsonVerified@fredthompson20 Jul

Solar plant in Vegas gets $20M govt cash & fails. Great. Obama found a way to lose money investing in solar company located in desert. #tcot

whipassmt

You'd think these people in Congress would realize the environment is one of the most important assets but no.

You'd think these people in Congress would realize the environment is one of the most important assets but no.

Aljosa23