Tuesday, October 16, 2012

A123 Batteries Goes Bankrupt

Seems strange to me, they've got more assets than debts...why are they declaring bankruptcy? Something's not right with green energy companies!
Obama Backed Battery Plant Bankruptcy
RUSH: I'll tell you, there's something else that I hope comes up tonight. "A123 Systems Inc., a maker of rechargeable lithium-ion batteries for electric cars, filed for bankruptcy after failing to make a debt payment that was due yesterday. The company listed assets of $459.8 million and debt of $376 million."

A123 didn't expect to be on time with an interest payment. This is an electric car battery outfit that Obama hailed as the future in the Rose Garden in 2010. This is part of Obama's green energy initiative. The future of America, all these green jobs he's promised. The new technologies, renewable this, renewable that. The Chevy Volt is on the sidelines, the battery manufacturer has gone bankrupt. It's symbolic, and I hope Romney brings this up

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