Another Energy Company Goes Bankrupt, $43 Million Borrowed From Taxpayers

Another Energy Company Goes Bankrupt, $43 Million Borrowed From Taxpayers

www.foxnews.com

An energy company that received a $43 million loan guarantee through the same federal program that backed Solyndra has followed the path of the failed solar firm and filed for bankruptcy.

(visit the link for the full news article)

Beacon Power Corporation filed for Chapter 11 bankruptcy on Sunday in U.S. Bankruptcy Court in Delaware. The company, which develops energy storage systems based on what are known as "flywheels," had received the federal guarantee for a 20-megawatt energy storage plant in Stephentown, N.Y., back in August 2010.

Well this is no surprise is it?
I wonder who profited behind the scenes in this case?


www.foxnews.com
(visit the link for the full news article)

How much money do poor people soak up every year in welfare?
www.usgovernmentspending.com...

Originally posted by PrimalRed
How much money do poor people soak up every year in welfare?
www.usgovernmentspending.com...

That money is going to millions of people.
This is money that goes to one greedy old person.
Know your enemy, its not the people either.

Originally posted by KnowYourEnemy

Originally posted by PrimalRed
How much money do poor people soak up every year in welfare?
www.usgovernmentspending.com...

That money is going to millions of people.
This is money that goes to one greedy old person.
Know your enemy, its not the people either.

One greedy old person? As opposed to a million greedy poor people? So would it be okay if millions were given out to all corporations? Please the money given to these corporations is expected to get paid back, the poor people in the welfare line are just expected to show up next month with their hand out.

Originally posted by KnowYourEnemy

Originally posted by PrimalRed
How much money do poor people soak up every year in welfare?
www.usgovernmentspending.com...

That money is going to millions of people.
This is money that goes to one greedy old person.
Know your enemy, its not the people either.

They are both equally corrupt and drain on society. The only welfare govt should give is unemployment for 6 months or so. All the other welfare is counterproductive. But that is off topic.

Why does this or any company need govt loans? When there is a huge VC industry in areas of energy. If the VC industry doesnt want it, then that should mean something. It is not like these are for projects like hubble telescope or fermi lab, which have no real economic potential.

Now name me one thing besides interstate highway system and the research sciences (nasa, darpa, naoo etc) that the fed govt is involved in that doesnt have massive graft or become fiscally unsustainable?

reply to post by PrimalRed



Well looks like we have yet another corporate troll on ATS. The scum at goldman sachs and jp morgan and the rest of the elitist trash must be getting scared, so they are sending more shills like you to our site and other sites like this one, I would hate to see how many of your kind are polluting places like FB and twitter now.

Keep up the good work OWS, we have them scared now!!!!
We at ATS are proud of what youre doing.

But its always scary to see another company close down, it shows the death throes of our economy. But on the bright side, hopefully that will mean that the inbred Rothschild family will get the he// out of our country.

reply to post by Shaade


lol are you off your meds?

reply to post by PrimalRed

One greedy old person? As opposed to a million greedy poor people? So would it be okay if millions were given out to all corporations? Please the money given to these corporations is expected to get paid back, the poor people in the welfare line are just expected to show up next month with their hand out.

One greedy person taking tens of millions in a few days opposed to one poor person taking something like a few thousand a year.
If the monetary system that allows corporate crime to happen didn’t oppress people, trap people in get, create poverty and control the world people wouldn’t need welfare.
Fact is many having been paying back. We are paying out billions to huge corporations each year and they don’t do anything for anyone especially banks.
I think your either extremely ignorant and don’t know how the world works or like the other person says your being paid to say that crap because they are extremely crazy views.
Open your eyes.

lol are you off your meds?

Snap out of your brainwashing ignorance.

Originally posted by KnowYourEnemy
If the monetary system that allows corporate crime to happen didn’t oppress people, trap people in get, create poverty and control the world people wouldn’t need welfare.

That is just a cop out. It is not anyone's fault but the criminal for committing crime,

Fact is many having been paying back. We are paying out billions to huge corporations each year and they don’t do anything for anyone especially banks.

Do you think corporations are obligated to do anything for you besides provide jobs and offer their services for a price?

I think your either extremely ignorant and don’t know how the world works or like the other person says your being paid to say that crap because they are extremely crazy views.
Open your eyes.

edit on 1-11-2011 by KnowYourEnemy because: (no reason given)

Crazy views? Because I think giving out billions to poor people is a bad idea? You should really occupy a library and reed about the free market system and economics in general. Our free market system permits people like steve jobs and bill gates to start from nothing so that protesters can use their iphones and twitter to spread the word about evil corporations.

That's good. I hate so called "green" companies. They're nothing but taxpayer money funnel. Cash that would have been better spent on more practical technologies. Idiot California enviro-whores loses again.