Monday - October 31, 2011
Another Drop In The Bucket
This one is almost too small to notice, not even $100 million. Still, it’s your money, and it’s gone, and I bet if you could turn over this rock you’d find Obama donor roaches on the board, scurrying for the shadows. Crony socialsim and a “green bubble”. Any fool with a green
(Reuters) - Beacon Power Corp filed for bankruptcy on Sunday just a year after the energy storage company received a $43 million loan guarantee from a controversial U.S. Department of Energy program.
The move comes about two months after solar panel maker Solyndra also filed for bankruptcy, setting off criticism of the government loan program.
The department guaranteed $535 million in loans to Solyndra, and Congress is investigating whether political influence played a role.
Beacon Power used the government-guaranteed-loan to build a 20-megawatt flywheel energy storage plant in Stephentown, New York.
The company said in documents filed with Delaware’s bankruptcy court that it had $72 million in assets and $47 million in debts.
A flywheel energy storage plant. A flywheel energy storage plant?? Excuse me, am I reading this right? The government handed out a fortune for a perpetual motion scheme? Horry clap. Can you get any more naive than that????
Posted by Drew458
on 10/31/2011 at 09:53 AM
Filed Under: • Government • Corruption and Greed • Oil, Alternative Energy, and Gas Prices •
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It's been a long strange trip without you Skipper, but thanks for pointing us in the right direction and giving us a swift kick in the behind to get us going. Keep lookin' down on us, will ya? Thanks.
- Keep a firm grasp of Right and Wrong
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Oh, and here's some kind of visitor flag counter thingy. Hey, all the cool blogs have one, so I should too. The Visitors Online thingy up at the top doesn't count anything, but it looks neat. It had better, since I paid actual money for it.
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