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  1. #1 Another $40-60 million down the Obama crapper 
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    http://www.businessweek.com/news/201...ech-media-says

    Abound Solar Inc., a U.S. solar manufacturer that was awarded a $400 million U.S. loan guarantee, will suspend operations and file for bankruptcy because its panels were too expensive to compete.

    Abound borrowed about $70 million against the guarantee, the Loveland, Colorado-based company said today in a statement. It plans to file for bankruptcy protection in Wilmington, Delaware, next week.

    ...

    U.S. taxpayers may lose $40 million to $60 million on the loan after Abound’s assets are sold and the bankruptcy proceeding closes, Damien LaVera, an Energy Department spokesman, said in a statement today.
    Obama has the anti-Midas touch: everything he touches turns to shit.
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  2. #2  
    Ancient Fire Breather Retread's Avatar
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    Green Company Creates Three Jobs In Three Years, Gets Another $80 Million From DOE

    Department of Energy officials gave a New Hampshire-based biofuel company access to $80 million for a Michigan project that has already fallen short of job creation expectations, despite receiving another $40 million in state and DOE subsidies. “In September 2008, Mascoma [Corp.] pledged 70 jobs at the plant by the end of 2012. On Feb. 29 of this year, Mascoma reported to the MEDC that only three jobs had been created by the grant,” the Capitol Confidential (Mich.) reports today.”The company has been given the full $20 million from the state.”

    Mascoma, a renewable energy company that specializes in cellulosic ethanol, received another $20 million for research and development from the Energy Department in 2008. The company warned the federal government, in its SEC filing, that it has “no experience in the markets in which we intend to operate” — which perhaps explains why it only created three jobs from 2008 to 2011, despite promising to create 70 jobs, according to Capitol Confidential...

    Joel Gehrke, Beltway Confidential
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  3. #3  
    PORCUS MAXIMUS Rockntractor's Avatar
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    Not a problem, Roberts court says the government can tax us in any and every way to make up for what they spend.
    The difference between pigs and people is that when they tell you you're cured it isn't a good thing.
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  4. #4  
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    Quote Originally Posted by Hubie View Post
    ..................Obama has the anti-Midas touch: everything he touches turns to shit.
    Shitfinger?....
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  5. #5  
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    Quote Originally Posted by Starbuck View Post
    Shitfinger?....
    Where's James Bond when you need him?
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  6. #6  
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    despite receiving another $40 million in state and DOE subsidies. “In September 2008, Mascoma [Corp.] pledged 70 jobs at the plant by the end of 2012.


    So wait, the plan was that they were creating jobs at over half a million each?
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  7. #7  
    Ancient Fire Breather Retread's Avatar
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    Quote Originally Posted by m00 View Post
    despite receiving another $40 million in state and DOE subsidies. “In September 2008, Mascoma [Corp.] pledged 70 jobs at the plant by the end of 2012.


    So wait, the plan was that they were creating jobs at over half a million each?
    And ended up closer to $30 mill ea.
    It's not how old you are, it's how you got here.
    It's been a long road and not all of it was paved.
    Live every day as if it were your last, because one of these days, it will be.
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