Bad Timing
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Bad Timing
Another Obama Green Energy Company Fails … Ener1 Received $118.5 Million Stimulus Grant Files for Bankruptcy
Ener1 received a $118.5 million stimulus grant and was supposed to double its production capacity and create 1,700 jobs, instead it is filing for bankruptcy. The company was supposed to made batteries for electric cars. A funny thing happened on the way to the Obama hand picked business winners and losers, free market capitalism … there is no market or demand for this product. Didn’t Barack Obama in this years SOTU just say he was going to continue to fund the car battery industry with government money and not cede it to China? Oops. Yet more tax payer dollars wasted.
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But Obamao got a feather in his hat with the left.
That means votes, and power, and more wealth for his/Democrats wealthy benefactors.
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