Another Obama administration favorite declares bankruptcy
By Norman Leahy | Thursday, January 26th, 2012 | Policy, PoliticsVia The Hill, we learn that Ener1, a battery manufacturer that received a $118.5 million stimulus grant from the Department of Energy in 2009 has gone into bankruptcy:
The Energy Department in 2009 approved a $118.5 million stimulus grant for EnerDel, a subsidiary of the company that develops lithium-ion batteries used in electric vehicles. The grant was part of a broader program aimed at promoting the development of electric-vehicle battery technology.
President Obama touted the program in his State of the Union address this year.
Excellent timing on that one. For those other companies that have received stimulus funds: make it a priority to keep your name out of future presidential speeches and, if at all possible, off Joe Biden’s itinerary.
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About the author
Norm Leahy has written about Virginia and national politics online since 2002, beginning with One Man's Trash (OMT), and continuing through Bacon's Rebellion (both the blog and the e-zine), Sic Semper Tyrannis, NBC12's Decision Virginia, Richmond.com and Tertium Quids. He is the chief blogger at "The Score" and a producer of "The Score" radio show as well as being a Washington Post contributor.
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One Response to "Another Obama administration favorite declares bankruptcy"
More tax dollars down the drain.If Obama gets re-elected this country is doomed.
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