'Troubled ‘Green’ Energy Companies
A123: Received $300 million in federal grants and $135 million in MI grants — Declining orders have forced multiple layoffs
Amonix, Inc.: Received $5.9 million in federal tax credits in 2009 through ARRA — Laid off 2/3 of work force
First Solar: Received $3 billion in federal loan guarantees — Biggest S&P loser in 2011, CEO fired
Fisker Automotive: $529 million in federal loan guarantees — Multiple 2012 sales prediction downgrades for first car release, delivery and cash flow troubles; Assembling cars in Finland
Johnson Controls: Received $299 million in federal grants in 2009 — Low demand caused cancellation of a new factory, operating at half capacity
Nevada Geothermal: Received $98.5 million in federal loan guarantees in 2009 — Defaulting on long-term debt obligations, 85% drop in stock value
Sun Power: Received $1.2 billion in federal loan guarantees — Debt exceeds assets; French oil company took over last fall
BrightSource Energy: $1.6 billion federal loan approved in April 2012 – loan obtained through political connections with the administration; absent the loan, Brightsource’s solar power purchase would have fallen through.'
Doesn't it make you happy to know how dismally the companies picked to receive the contents of your bank accounts are doing? Don't you wish the EPA would take even MORE of your money to flush down the toilet?
All this in the name of 'saving gaia' yet which, even if all companies listed were doing well, would do absolutely nothing to reduce the temperature of the earth.
Crony capitalism at its' best, aka payback time to Obama buddies using your money and mine.