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-Lurid Crime Tales-
Financial turmoil grips two more 'green energy' companies receiving federal loan guarantees
2011-10-31
Two "clean energy companies" which Barack My friends, we live in the greatest nation in the history of the world. I hope you'll join with me as we try to change it Obama and Harry Reid
... the charismatic senator-for-life from Nevada, currently majority leader ...
have touted as creators of "green energy
... the attempt to produce energy without using fossil fuel. The preferred methods are solar, wind, geothermal, phlogiston, philosophers' stones, and rattling bears' teeth. The approach with the most promise involves attaching generators to perpetual motion machines. The green in the term refers to the vast number of greenbacks that have been thrown at the problem since 1973 with indifferent results...
jobs" have joined Solyndra
...a green technological winner picked by the B.O. regime that cost the taxpayers a half billion dollars, with the added benefit of the campaign contributors who put money into the project getting paid before the taxpayers when the wreckage went up for sale...
on the growing list of federal loan recipients facing financial turmoil and default. And a new poll indicates that voters don't support the idea of agenda-driven federal loans to chosen corporations.
Maybe we're just tired of handing out large numbers of our tax dollars to people named "Big Guido," "Knuckles," or "Honey Boy."
Beacon Power Corp., a Massachusetts based energy storage company, filed for bankruptcy on Sunday, just one year after the company received a $43 million loan guarantee from the Department of Energy.
"43 million bucks? What's dat? Nuttin'! Maybe da price of one of Michelle's vacations!"
And The New York Times
...which still proudly displays Walter Duranty's Pulitzer prize...
reports that Nevada Geothermal Power, another recipient of millions in DOE loan guarantees, is struggling financially: Its auditor reported last week that he has "significant doubt about the company's ability to continue as a going concern."
"What makes you doubt it?"
"They have no money of their own and they've pissed away all the money they were given!"
Posted by:Fred

#3  Local power company runs a Vestas wind turbine. Drove by it the other day; tall and gleaming white on a bright fall day. It was also motionless.
Posted by: SteveS   2011-10-31 21:15  

#2  Shares in Danish company Vestas, the world leader in the wind turbine industry, plunged by 20 percent on Monday after the company issued a full-year profit warning over delays on several projects.

http://www.physorg.com/news/2011-10-turbine-maker-profit.html
Posted by: Bright Pebbles   2011-10-31 16:20  

#1  Add Ener1: $118.5 million in free Obama bucks. That's $100 million more than Ener1's stock value.
Posted by: Eohippus Phater7165   2011-10-31 14:41  

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