Get HuskerMax™ on your iPhone. Click here for details. Get tickets for all home and away games here.
Page 1 of 6 123 ... LastLast
Results 1 to 15 of 81

Thread: Another government backed "green" company files for bankruptcy

  1. #1
    Ayyy!
    huskrthill's Avatar
    Join Date
    Jul 2009
    Location
    Approximately 41° 12' 19" N, 96° 9' 29" W
    Posts
    42,278

    Another government backed "green" company files for bankruptcy

    Did people really think that people were going to be lining up to buy electric vehicles that cost twice as much as comparable gas powered vehicles? C'mon, really?

    http://abcnews.go.com/Blotter/ener1-...ry?id=15456414
    The parent company of an electric car battery maker that received more than $100 million in government funding from the Obama administration has filed for bankruptcy protection, the company announced Thursday.

    Alex Sorokin, the CEO for lithium-ion battery manufacturer Ener1, said the company suffered when demand for the batteries dropped as fewer Americans than expected opted for electric cars.
    [SIGPIC][/SIGPIC]

  2. #2
    Scout Team

    Join Date
    Mar 2010
    Posts
    4,622
    Quote Originally Posted by huskrthill View Post
    Did people really think that people were going to be lining up to buy electric vehicles that cost twice as much as comparable gas powered vehicles? C'mon, really?

    http://abcnews.go.com/Blotter/ener1-...ry?id=15456414
    It is like entitlement programs. The economics don't matter. It feels good so do it regardless of the cost and the ultimate outcome.

  3. #3
    Starter
    CornfieldCounty's Avatar
    Join Date
    Sep 2004
    Location
    Phoenix, AZ
    Posts
    13,944
    I believe these were grants, not loans.. bye bye $100 Million!


    Quote Originally Posted by Pops View Post
    Thats called football...I dont tune in on saturdays to see their grades
    Some people are born on third base and go through life thinking they hit a triple. - Barry Switzer

    Life is hard
    ; its harder when you're stupid - John Wayne


  4. #4
    All Big 10

    Join Date
    Jun 2008
    Posts
    18,869
    They were grants, and the company isn't completely going under.

    My bigger issue in these cases isn't that the government decides to invest in developing future infrastructure technology. It's that I have a sneaking suspicion they are awarded for political reasons, to people who make quite a lot of money in salary those three years, and that they retain all the patented technology that the US gov helped them develop.

    I could be completely wrong, though, and would love to see someone with more knowledge way in.
    "We need education in the obvious more than investigation of the obscure."

    "If you find yourself on the side of the majority, it's time to pause and reflect."

    “A stupid man's report of what a clever man says can never be accurate, because he unconsciously translates what he hears into something he can understand.”

  5. #5
    All Big 10

    Join Date
    Jun 2008
    Posts
    18,869
    It appears that the base salary for the CEO who was replaced in late 2011 was somewhere north of $500k and south of $1m a year... good money, but not outlandish.
    "We need education in the obvious more than investigation of the obscure."

    "If you find yourself on the side of the majority, it's time to pause and reflect."

    “A stupid man's report of what a clever man says can never be accurate, because he unconsciously translates what he hears into something he can understand.”

  6. #6
    pray for me ;)
    ColoREDo's Avatar
    Join Date
    Aug 2008
    Location
    Denver 'burbs
    Posts
    51,744
    Quote Originally Posted by huskrthill View Post
    Did people really think that people were going to be lining up to buy electric vehicles that cost twice as much as comparable gas powered vehicles? C'mon, really?
    Do you know anyone who knits? My wife knits and spends countless hours and 5X more money making a sweater rather than buying a comparable one that can be purchased cheaply in a day. Madness.
    “Live a good life. If there are gods and they are just, then they will not care how devout you have been, but will welcome you based on the virtues you have lived by. If there are gods, but unjust, then you should not want to worship them. If there are no gods, then you will be gone, but will have lived a noble life that will live on in the memories of your loved ones.”

  7. #7
    The Tech Support Guy
    Huskermedic's Avatar
    Join Date
    Aug 2000
    Location
    Cincinnati, Ohio, United States
    Posts
    21,910
    This is why you don't do this. I don't think batteries are the anwser anyway. If the Gov is going to invest in this you put it in research then build it and if it works then sale it to a company.

  8. #8
    Oh my!
    Red_in_Blue_Land's Avatar
    Join Date
    Jun 2010
    Location
    West Bloomfield, MI
    Posts
    13,462
    Quote Originally Posted by huskrthill View Post
    Did people really think that people were going to be lining up to buy electric vehicles that cost twice as much as comparable gas powered vehicles? C'mon, really?

    http://abcnews.go.com/Blotter/ener1-...ry?id=15456414
    Demand for the volt is losing it's spark...
    http://www.autoweek.com/article/2012...NEWS/120129955

    Due to the price and not the fires, that cost up is just not economical, you think people would have learned from the ev1
    "The smallest minority on earth is the individual. Those who deny individual rights cannot claim to be defenders of minorities." Ayn Rand

    "Hillary has been cheated on more than a blind woman playing Scrabble. With gypsies." Dennis Miller

  9. #9
    Ayyy!
    huskrthill's Avatar
    Join Date
    Jul 2009
    Location
    Approximately 41° 12' 19" N, 96° 9' 29" W
    Posts
    42,278
    Quote Originally Posted by ColoREDo View Post
    Do you know anyone who knits? My wife knits and spends countless hours and 5X more money making a sweater rather than buying a comparable one that can be purchased cheaply in a day. Madness.
    Does she ask her neighbor to pay for it?
    [SIGPIC][/SIGPIC]

  10. #10
    Ayyy!
    huskrthill's Avatar
    Join Date
    Jul 2009
    Location
    Approximately 41° 12' 19" N, 96° 9' 29" W
    Posts
    42,278
    Quote Originally Posted by cm husker View Post
    They were grants, and the company isn't completely going under.

    My bigger issue in these cases isn't that the government decides to invest in developing future infrastructure technology. It's that I have a sneaking suspicion they are awarded for political reasons, to people who make quite a lot of money in salary those three years, and that they retain all the patented technology that the US gov helped them develop.

    I could be completely wrong, though, and would love to see someone with more knowledge way in.
    Hell yes it's political, and it's not just Obama. Our government rushes to make these foolish loans and grants in an effort to appear as though they are "doing something" about energy. I'm not sure they stop to actually think things out. These types of situations are making me think that Romney may be just what we need, because at least his investments pay off.

    Before people freak out, I understand that not every technology pans out, and not every investment reaps rewards. If the government must make these kinds of investments, I'd prefer more prudence in determining the recipients.
    [SIGPIC][/SIGPIC]

  11. #11
    Scout Team

    Join Date
    Mar 2010
    Posts
    4,622
    Quote Originally Posted by huskrthill View Post
    Hell yes it's political, and it's not just Obama. Our government rushes to make these foolish loans and grants in an effort to appear as though they are "doing something" about energy. I'm not sure they stop to actually think things out. These types of situations are making me think that Romney may be just what we need, because at least his investments pay off.

    Before people freak out, I understand that not every technology pans out, and not every investment reaps rewards. If the government must make these kinds of investments, I'd prefer more prudence in determining the recipients.

    It isn't the governments role to pick winners and loosers. As Romney said in a recent interview. When the Government gave $500 million to Solindra, investors stopped or slowed down theor investments in other solar energy companies because the government already picked the winner. The market will dictate who should get the finds for development.

    I've stated before that when the government invests in something for defense like GPS or the highway system the public benefits. But to pick a company and an industry to invest in for no reason other than for a political agenda is not the role of government.

  12. #12
    Quote Originally Posted by tango View Post
    It isn't the governments role to pick winners and loosers. As Romney said in a recent interview. When the Government gave $500 million to Solindra, investors stopped or slowed down theor investments in other solar energy companies because the government already picked the winner. The market will dictate who should get the finds for development. I've stated before that when the government invests in something for defense like GPS or the highway system the public benefits. But to pick a company and an industry to invest in for no reason other than for a political agenda is not the role of government.
    I don't have a problem with the govt doing this at all if the company is doing solid R&D that could benefit everyone down the road. I do wonder who would own any patents developed with that money. Either way it does not seem like too much money considering what our nation spends every day. I think without true market demand the govt should step up and try to spark some innovation if it benefits a greater package.

  13. #13
    Ayyy!
    huskrthill's Avatar
    Join Date
    Jul 2009
    Location
    Approximately 41° 12' 19" N, 96° 9' 29" W
    Posts
    42,278
    Quote Originally Posted by South End Zone View Post
    I don't have a problem with the govt doing this at all if the company is doing solid R&D that could benefit everyone down the road. I do wonder who would own any patents developed with that money. Either way it does not seem like too much money considering what our nation spends every day. I think without true market demand the govt should step up and try to spark some innovation if it benefits a greater package.
    A hundred million here, a half a billion there... who's counting, right?
    [SIGPIC][/SIGPIC]

  14. #14
    pray for me ;)
    ColoREDo's Avatar
    Join Date
    Aug 2008
    Location
    Denver 'burbs
    Posts
    51,744
    Quote Originally Posted by huskrthill View Post
    Does she ask her neighbor to pay for it?
    Leave Israel alone.
    “Live a good life. If there are gods and they are just, then they will not care how devout you have been, but will welcome you based on the virtues you have lived by. If there are gods, but unjust, then you should not want to worship them. If there are no gods, then you will be gone, but will have lived a noble life that will live on in the memories of your loved ones.”

  15. #15
    Ayyy!
    huskrthill's Avatar
    Join Date
    Jul 2009
    Location
    Approximately 41° 12' 19" N, 96° 9' 29" W
    Posts
    42,278
    Quote Originally Posted by ColoREDo View Post
    Leave Israel alone.
    That has nothing to do with it, but nice attempt at changing the subject.
    [SIGPIC][/SIGPIC]







Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •