{"id":6423,"date":"2012-01-27T15:04:32","date_gmt":"2012-01-27T20:04:32","guid":{"rendered":"http:\/\/angry.net\/blog2\/?p=6423"},"modified":"2022-04-24T15:34:53","modified_gmt":"2022-04-24T19:34:53","slug":"and-another-obama-crony-goes-belly-up","status":"publish","type":"post","link":"https:\/\/angry.net\/blog2\/?p=6423","title":{"rendered":"And another Obama crony goes belly up"},"content":{"rendered":"

Good afternoon one and all, and yes, since it is Friday, it must be time for more bad news from the Office of Obama coverups. In this case, yet another of his cronies has just gone Chapter 11. ((Chapter 11, Title 11, United States Code<\/a>))<\/p>\n

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The company, Ener1, which was the recipient of $118.5 million dollars in taxpayer money filed for Protection under Chapter 11 of the bankruptcy code. Once again we see how good at \u201cThe One\u201d is at picking winners. I\u2019ve lost count of the number of failures this makes. The biggest one I\u2019m aware of was Solyndra.<\/p>\n

Ener1 was a lithium battery maker and was touted by Obama and visited by Slow Joe Biden last year right after Obama\u2019s last pack of lies<\/em><\/span> State of the Union address. In that speech, Obama said he wanted 1 million electric cars on the road by 2015. Of course there were several problems with this. The big one is that no one wants these things.<\/p>\n

Of course, President Tin Ear didn\u2019t notice that another one of his \u201cChildren\u201d was about to suffer a crib death. Here\u2019s a few details from Investors.com:<\/p>\n

President Obama’s green jobs effort has suffered two more black eyes, as one federally backed company filed for bankruptcy and another laid off two-thirds of its workforce.<\/p>\n

Ener1, which got a $118 million federal matching grant to develop electric car batteries, filed for Chapter 11 on Thursday. The Indiana-based company has been in dire condition, having been delisted from Nasdaq last November.<\/p>\n

Meanwhile, solar panel maker Amonix laid off 200 people on Wednesday. It had received a $6 million tax credit in 2009 to build its Las Vegas facility.<\/p><\/blockquote>\n

So, for the wonderfully low price of $124.5 MILLION DOLLARS, the taxpayers of the United States of America got…BUPKIS! Shafted! Screwed, Blued and Tattooed!<\/p>\n

They are the latest embarrassments in the White House’s efforts to boost the green technology industry. Loan recipients have gone bankrupt, green jobs numbers have stalled and sales of electric cars have been sluggish.<\/p><\/blockquote>\n

Would you like to know why all these wonderful green products have not generated massive sales and profits? It\u2019s really very simple. They cost to much and THEY DON\u2019T WORK! You average solar cell is about 25% efficient and that\u2019s when it isn\u2019t cloudy out. They never pay for themselves. Those cute little electric powered golf carts they like to call cars?<\/p>\n

They might go 50 miles on a charge on average and take hours to recharge. A gas powered car, depending on things like size, weight etc, might go 300 mile and takes about 10 minutes to refuel. Also a fossil fueled car is generally heavier then a battery powered car and can take more of a \u201chit\u201d in an accident. Oh, while gasoline is flammable, we have 100 years of experience in keeping cars from spontaneously igniting. ((Chevy Volt problems))<\/p>\n

So, what about the timing of the bankruptcy announcement? Was Obama warned ahead of time?<\/p>\n

Two days before in his State of the Union address, President Obama took credit for the electric battery industry’s success.<\/p><\/blockquote>\n

That would be a \u201cNo\u201d I think. \ud83d\ude00<\/p>\n

“In three years, our partnership with the private sector has already positioned America to be the world’s leading manufacturer of high-tech batteries,” he said. “Because of federal investments, renewable energy use has nearly doubled, and thousands of Americans have jobs because of it.”<\/p><\/blockquote>\n

Yeah, for bankruptcy attorneys and accountants maybe, for the rest of us? Not so much.<\/p>\n

Left unsaid was that the president had originally promised the green energy investments would create five million jobs, not thousands.<\/p><\/blockquote>\n

\"\"<\/a><\/p>\n

Why would anyone expect Obama to tell the truth about anything? All he\u2019s interested in is the trappings of the Presidency and handing out my money to his friends and cronies. He has no clue about how the free enterprise system works and has no interest in learning, which makes sense, since he is a communist.<\/p>\n

Do you know why all these \u201cGreen\u201d companies are looking for taxpayer money from Obama? It\u2019s very simple. They can\u2019t raise the funds they need privately. Why can\u2019t they raise private money? Because Investors and Venture Capitalists ((Venture Capital<\/a>)) are looking to make money, not throw it down a rat hole. They\u2019ve watched all the renewable and green energy programs in Europe fail miserably. They see no reason to emulate Europe or that ScoaMF ((Stuttering Clusterfuck of a Miserable Failure<\/strong>)) in the Oval Office.<\/p>\n

While researching this post, I came across a report on the House Oversight Committee web page. It\u2019s titled Oversight Committee Releases Report on Obama Green Jobs Program Failures<\/a> and it isn\u2019t kind to Obama’s and his minions<\/em><\/span> Administration:<\/p>\n

Facing the worst economic recession since the Great Depression, President Obama has responded with a green jobs agenda as a major component of his recovery strategy. Combined with restrictions on domestic energy production, the net effect has been jobs lost and a failure to even approach his promised goal of creating five million jobs within ten years. That is the conclusion of a new report released today by the House Committee on Oversight and Government Reform.<\/p><\/blockquote>\n

Ouch! That\u2019s going to leave a few marks.<\/p>\n

“With unemployment at a staggering 9.2 percent, President Obama’s green energy subsidy experiment has done little to create jobs or speed recovery. In fact, by many measures, it has destroyed jobs,” Committee Chairman Darrell Issa (R-CA) said.<\/p>\n

“When you combine heavy federal promotion of alternative energy with a concerted campaign to restrict domestic energy production, you have a recipe for what we are experiencing right now: a stagnant economy,” Issa added.<\/p><\/blockquote>\n

What did you expect when those 52 percenters put Jug Ears into the White House? Actual competence?<\/p>\n

The report documents President Obama’s efforts to follow many European nations down a path of heavy subsidization to promote alternative energy at the expense of traditional, carbon-based sources. The report outlines how these efforts have failed abroad and in the U.S., and at what cost to the economy.<\/p><\/blockquote>\n

Gee, what a surprise. Obama and all the other left wing idiots are so in love with Europe that they want to emulate them in every way, including utter economic collapse. You can get a copy of the Committee report here. Information on a related hearing is available here<\/a>.<\/p>\n

I wonder when the next shoe will drop? Personally, I\u2019m also wondering if the next president who is not Obama will do in regards to investigating the ScoaMF\u2019s administration.<\/p>\n

\"\"<\/a><\/p>\n

Thatisall<\/p>\n

~The Angry Webmaster~<\/strong><\/em><\/p>\n\"1\"2\"3\"4\"5 (2<\/strong> votes, average: 1.00<\/strong> out of 5)
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Weasel Zippers \u00bb Blog Archive \u00bb Flashback: Obama Touts Now …<\/h3>\n<\/div>\n
Flashback: Obama Touts Now Bankrupt \u201cGreen\u201d Energy Firm Ener1\u2026 This feel-good speech cost the American taxpayers $118 million. Posted by ZIP on Friday, January 27, 2012, at 2:20 pm | Like Tweet. \u00ab Previous Post. Comment. Click here …<\/div>\n
http:\/\/weaselzippers.us\/ \u2014 Fri, 27 Jan 2012 11:20:52 -0800<\/span><\/div>\n<\/div>\n
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Latest clean energy faux scandal engulfs GOP spokesman Mitch …<\/a><\/h3>\n<\/div>\n
The latest candidate is lithium battery company Ener1, Inc., which just declared Chapter 11 bankruptcy as part of a long-term debt restructuring deal. Ener1?s subsidiary EnerDel received a $118.5 million grant as part of the stimulus bill. Rep.<\/div>\n
http:\/\/grist.org\/<\/a> \u2014 Fri, 27 Jan 2012 11:06:53 -0800<\/span><\/div>\n<\/div>\n
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Another Week, Another Green Energy Bankruptcy<\/h3>\n<\/div>\n
Here we go again. Another recipient of Obama’s \u201cstimulus\u201d funds for green technology has filed for Chapter 11 bankruptcy. This time, it’s a company called Ener1, which received $118 million tax dollars from the Department of Energy in 2010.<\/div>\n
http:\/\/www.christianresponsealerts.com\/ \u2014 Fri, 27 Jan 2012 11:06:40 -0800<\/span><\/div>\n<\/div>\n
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NetRight Daily \u00bb Biden: Enron1 leads the way<\/h3>\n<\/div>\n
After yesterday’s news that Ener1, a green company that was kept afloat by the taxpayers, was filing for bankruptcy, this video of Biden surfaced on a visit he paid to the company in 2011: …<\/div>\n
http:\/\/netrightdaily.com\/ \u2014 Fri, 27 Jan 2012 10:58:35 -0800<\/span><\/div>\n<\/div>\n
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Here We Go Again\u2026 Obama-Backed Electric Car Battery-Maker …<\/a><\/h3>\n<\/div>\n
\u201cThis was a difficult, but necessary, decision for our company,\u201d Ener1 CEO Alex Sorokin said in a news release. \u201cWe are extremely pleased to have the strong support of our primary investors and lenders to substantially reduce the company’s …<\/div>\n
http:\/\/thedaleygator.wordpress.com\/<\/a> \u2014 Fri, 27 Jan 2012 10:31:32 -0800<\/span><\/div>\n<\/div>\n
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Ener1 – DelawarePolitics.net – Delaware’s Center-Right Voice<\/h3>\n<\/div>\n
delaware politics, delaware government, joe biden, tom carper, mike castle, jack markell, john carney, bill lee, charlie copeland, thurman adams, delaware republican party, delaware democratic party, first state, delaware legislature.<\/div>\n
http:\/\/www.delawarepolitics.net\/ \u2014 Fri, 27 Jan 2012 10:29:24 -0800<\/span><\/div>\n<\/div>\n
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Obama’s Black Thumb Strikes Again – Grendel Report<\/h3>\n<\/div>\n
(CNSNews.com) – Ener1–a company that manufactures batteries for electric cars, and that received $118.5 million in federal stimulus money, and that Vice President Joe Biden visited last year the day after President Obama’s State of the …<\/div>\n
http:\/\/grendelreport.posterous.com\/ \u2014 Fri, 27 Jan 2012 09:42:23 -0800<\/span><\/div>\n<\/div>\n
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The God Of Failed Green Energy Promises Taxpayer Funds For …<\/h3>\n<\/div>\n
Ener1 subsidiary EnerDel received a $118 million stimulus grant from the Energy Department in 2009, and Vice President Joe Biden visited the company’s new battery plant in Indiana last year. Ener1 is the third company to seek bankruptcy …<\/div>\n
http:\/\/sadhillnews.com\/ \u2014 Fri, 27 Jan 2012 09:42:16 -0800<\/span><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Good afternoon one and all, and yes, since it is Friday, it must be time for more bad news from the Office of Obama coverups. In this case, yet another of his cronies has just gone Chapter 11. 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Why should you need to deal with 15 new toaster ovens and all that other stuff when you can help re-elect the ScoaMF to a second term!","rel":"","context":"In "Entertainment"","block_context":{"text":"Entertainment","link":"https:\/\/angry.net\/blog2\/?cat=4"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2012\/06\/obama-registry.jpg?fit=812%2C832&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2012\/06\/obama-registry.jpg?fit=812%2C832&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2012\/06\/obama-registry.jpg?fit=812%2C832&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2012\/06\/obama-registry.jpg?fit=812%2C832&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":20214,"url":"https:\/\/angry.net\/blog2\/?p=20214","url_meta":{"origin":6423,"position":1},"title":"Obama backing Cankles","author":"Angry Webmaster","date":"January 25, 2016","format":false,"excerpt":"Good day all. It looks like Obama has just pardoned Hillary Clinton for all crimes she's committed. He's announced that he supports her over Comrade Bernie Sanders.","rel":"","context":"In "Crime"","block_context":{"text":"Crime","link":"https:\/\/angry.net\/blog2\/?cat=3"},"img":{"alt_text":"double-facepalm","src":"https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2012\/08\/double-facepalm-300x240.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":13430,"url":"https:\/\/angry.net\/blog2\/?p=13430","url_meta":{"origin":6423,"position":2},"title":"Obama screws taxpayers again","author":"Angry Webmaster","date":"November 23, 2013","format":false,"excerpt":"And in other news, water is wet, the sun is hot and Liberals lie. This time, yet another of Obama\u2019s boondoggles has collapsed and cost the taxpayers millions of dollars. Even better, the \u201cGreen\u201d company that has gone bottom up wasn\u2019t even American.","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/angry.net\/blog2\/?cat=176"},"img":{"alt_text":"800px-Fisker_Karma","src":"https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2011\/10\/800px-Fisker_Karma-300x188.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":12773,"url":"https:\/\/angry.net\/blog2\/?p=12773","url_meta":{"origin":6423,"position":3},"title":"The New Klan, the NAACP","author":"Angry Webmaster","date":"August 16, 2013","format":false,"excerpt":"Good day all. Last weekend a rodeo clown in Missouri put on an Obama mask while doing his thing with a bull. The crowd though it was hilarious. Well, as you might expect, the Cult of Obama was not to happy about this.","rel":"","context":"In "Moonbat"","block_context":{"text":"Moonbat","link":"https:\/\/angry.net\/blog2\/?cat=100"},"img":{"alt_text":"A typical tolerant Democrat","src":"https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2012\/08\/democrats-party-of-tolerance-300x300.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":4390,"url":"https:\/\/angry.net\/blog2\/?p=4390","url_meta":{"origin":6423,"position":4},"title":"I can quit ANY TIME!","author":"Angry Webmaster","date":"July 27, 2011","format":false,"excerpt":"Unless you've been living under a rock, (Which most people have I'm afraid), then you know there is a debt crisis in the United States. For all intents and purposes, we're broke. Busted. Chapter 11. The Democrats and Obama refuse to believe we have a problem. They want to raise\u2026","rel":"","context":"In "medicine"","block_context":{"text":"medicine","link":"https:\/\/angry.net\/blog2\/?cat=7"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4705,"url":"https:\/\/angry.net\/blog2\/?p=4705","url_meta":{"origin":6423,"position":5},"title":"Look at all those green jobs Obama promised!","author":"Angry Webmaster","date":"September 1, 2011","format":false,"excerpt":"Greetings all, Angry Webmaster here. I was just reading about the latest Obama backed green jobs success story. This one was about Solyndra in Fremont California.","rel":"","context":"In "Global Warming"","block_context":{"text":"Global Warming","link":"https:\/\/angry.net\/blog2\/?cat=43"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=\/wp\/v2\/posts\/6423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6423"}],"version-history":[{"count":21,"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=\/wp\/v2\/posts\/6423\/revisions"}],"predecessor-version":[{"id":37112,"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=\/wp\/v2\/posts\/6423\/revisions\/37112"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=\/wp\/v2\/media\/6428"}],"wp:attachment":[{"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}