Sources: Businessweek, The Detroit News
quote: Hard to do anything about it since we opperate under the theory of we live here and we are forced into whatever system is here.
quote: The majority vote determines the laws, taxes, of all. A Mob rule is not a free society.
quote: Hmm... I did my best to see if you had a logical Argument.
quote: Once again, FedGov at its finest. Taking care of the cronies and homeboys. .
quote: Yes, indeed. 3 out of 400+ companies... man... what a dismal tracker record. I bet the private sector is doing SOOOOOO much better.
quote: Whatever. $118M is a pitiful drop in the bucket as far as government spending is concerned.
quote: Or if you're really so upset over the government's waste of your $1, I'll mail you one of mine.
quote: Do I really need to point out that we wouldn't have the Internet if not for the government backing of speculative ventures?
quote: There are *far* worse things the government could be doing with its money than funding research, development, and specuilative new technologies.
quote: If a failed tech venture is the worst example of wasteful government spending you can come up with, then your perspective is completely out of whack.
quote: Solyndra --- Failed because they could NOT compete with low priced Chinese government supported products that were artifically low in price as the Chinese gave HUGE breaks and help so that their products were cheaper.... an illegal way to compete...
quote: In that case the government should've let GM and chrystler fail, then bailed out ford and it's suppliers.
quote: Doesn't the US do this as well?
quote: GM---Selling MORE cars in years and are the NUMBER ONE SELLER of cars once again !!! And have paid back all of their original loan !!
quote: Looks like to me they decided to go bankrupt to restructure, rather than running out of money, and one of the major companies they were producing for, went out of business.... This is exactly what would have happened if BOTH Chrysler and GM would have gone out of business, manufacturing would have taken a MASSIVE hit as all of the companies that product down the line would have fallen like dominoes..
quote: The Obama administration has had some horrible luck when it comes to dealing out energy loans. In 2011 alone, two energy companies filed for bankruptcy after receiving hefty sums from the government. Now, the administration can add a third strike to its list of bad deals.
quote: As it points out, in less than 6 months there have been three bankruptcies of companies the DOE has lended very large sums of taxpayer money.
quote: Also, the company's existing common stock will be canceled , long-term debt holders will receive a new term loan, cash and new common stock in exchange for claims, new preferred stock will be given to the provider of the post-petition and exit funding, and Ener1's general creditors will be paid under the restructuring plan