October 18, 2012
— Ace Unexpectedly.
A solar company that got a multi-million-dollar grant from the Department of Energy earlier this year announced Wednesday that it will file for Chapter 11 bankruptcy protection, making it the second taxpayer-backed green energy company to file for bankruptcy this week.Satcon Technology Corp. announced the decision in a Wednesday news release. “This has been a difficult time for Satcon,” president and CEO Steve Rhoades said.
Bankruptcy attorneys technically hold green jobs, you know.
Posted by: Ace at
10:01 AM
| Comments (148)
Post contains 93 words, total size 1 kb.
Posted by: Bevel Lemelisk at October 18, 2012 10:02 AM (TpXEI)
Posted by: George Orwell what knows Ann Althouse has a more racially sensitive hoo-hoo than you at October 18, 2012 10:02 AM (AZGON)
Posted by: Niedermeyer's Dead Horse at October 18, 2012 10:03 AM (piMMO)
Posted by: Ronster at October 18, 2012 10:03 AM (H5i76)
Satcon Technology Corp....?
There was a battery company too, that just went bankrupt....'A123' was it's name, I think.
So this it two green company bankruptcies this week?
Posted by: wheatie at October 18, 2012 10:04 AM (ipkPX)
Posted by: Slappy at October 18, 2012 10:04 AM (LTbLf)
Posted by: red sweater at October 18, 2012 10:04 AM (Xwgt3)
C'mon, this is AoSHQ. Pics please. You know the rules.
Posted by: Sean Bannion at October 18, 2012 10:04 AM (sbV1u)
Posted by: Soothsayer at October 18, 2012 10:05 AM (jUytm)
Posted by: t-bird at October 18, 2012 10:05 AM (FcR7P)
Posted by: HTML at October 18, 2012 10:06 AM (LTbLf)
Posted by: Tami at October 18, 2012 10:06 AM (X6akg)
Posted by: Andy at October 18, 2012 10:06 AM (5Rurq)
Posted by: George Orwell what knows Ann Althouse has a more racially sensitive hoo-hoo than you at October 18, 2012 10:06 AM (AZGON)
Posted by: XML at October 18, 2012 10:07 AM (UZQM8)
Posted by: Dr Spank at October 18, 2012 10:07 AM (4cRnj)
They'll be 2 a day between 7 NOV 12 and 20 JAN 13 after Romney rolls Choomy and smokes him like a Phish Phan.
Posted by: docj at October 18, 2012 10:07 AM (A5uiv)
Posted by: Ian S. at October 18, 2012 10:07 AM (rPA5/)
Posted by: HtP at October 18, 2012 10:08 AM (jx2j9)
Posted by: Ronster at October 18, 2012 10:08 AM (H5i76)
Posted by: Dante at October 18, 2012 10:08 AM (NWLVJ)
Posted by: Wolf Blitzer at October 18, 2012 10:08 AM (e8kgV)
Posted by: RomneylosesanobamavoterinOiho at October 18, 2012 10:08 AM (ggRof)
Posted by: Ghost of Lee Atwater at October 18, 2012 10:09 AM (JxMoP)
Mitt ought to walk on stage at the next debate with a binder in his hand.
"This one doesn't have resumes. It's full of bankruptcy filings from DOE-funded green-energy boondoggles. And if I dropped it on Mr Obama's foot it'd break it."
Posted by: JEM at October 18, 2012 10:09 AM (o+SC1)
Posted by: FenelonSpoke at October 18, 2012 10:10 AM (ZifVj)
Barky keeps crowing about how he..."Created 5 million new jobs".
But how many of those jobs are still around?
This is what Romney/Ryan needs to be asking...out on the stump.
Posted by: wheatie at October 18, 2012 10:10 AM (ipkPX)
Posted by: BCochran1981 at October 18, 2012 10:10 AM (da5Wo)
Posted by: Undecided Voter at October 18, 2012 10:10 AM (NWLVJ)
Posted by: MWR, Proud Tea(rrorist) Party Hobbit and ABO Supporter [/b][/i][/u] at October 18, 2012 10:10 AM (4df7R)
Posted by: New York Times Reader at October 18, 2012 10:11 AM (evdj2)
Next, he should 'invest' in Apple.
(cuz I dun like them apple fanbois mainly)
Posted by: GnuBreed at October 18, 2012 10:11 AM (ccXZP)
Posted by: Jcw46 at October 18, 2012 10:11 AM (Vh0f5)
Posted by: CEO Steve Rhoades at October 18, 2012 10:11 AM (e0xKF)
Posted by: steevy at October 18, 2012 10:11 AM (6o4Fb)
It would have to be massive, something on the order of one line of code...
Posted by: weft cut-loop [/i] [/b] at October 18, 2012 10:12 AM (qrpxS)
Why, it's almost as if "investing" taxpayer money based on political goals and campaign contributions instead of a solid business plan and anticipated profitability doesn't work...
Posted by: Hollowpoint at October 18, 2012 10:12 AM (SY2Kh)
Posted by: Tex Lovera at October 18, 2012 10:12 AM (wtvvX)
Just once I'd love to see someone ask what specific policies of George Bush led to the most recent recession. I don't think they have an answer. Cuz these idiotic solar failures aren't helping anyone. Fact: after tens of billions of taxpayer dollars you can't buy a US made solar panel in the commercial market. I shopped around.
Posted by: Beagle at October 18, 2012 10:12 AM (sOtz/)
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at October 18, 2012 10:12 AM (8y9MW)
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at October 18, 2012 10:13 AM (8y9MW)
(Apparently the other kids didn't like touching all that sticky fur.)
Posted by: Ace's shrink at October 18, 2012 10:13 AM (8PzD+)
35 wheatie. Johnsons Controls swooped in and bought A123 at the last minute and saved them from bankruptcy.
I thought they filed, though....and then Johnson Controls bid on them.
Not sure that sale is final.
Just an offer to purchase.
Posted by: wheatie at October 18, 2012 10:13 AM (ipkPX)
****
I forget that not everyone can turn to FNC during the day.
Posted by: Niedermeyer's Dead Horse at October 18, 2012 10:13 AM (piMMO)
making it the second taxpayer-backed green energy company to file for bankruptcy this week.
That's right, this week. Not this year. Not since Obama took office. Heck, not even this MONTH. Nope. The second in one week.
I love that the story can tack that onto the end of the lead paragraph as if it happens all the time and is no cause for undue alarm. "Green shoots, everybody! Green shoots!"
“This has been a difficult time for Satcon,” president and CEO Steve Rhoades said.
Yeah, I bet it has, buddy.
Posted by: MWR, Proud Tea(rrorist) Party Hobbit and ABO Supporter [/b][/i][/u] at October 18, 2012 10:13 AM (4df7R)
Posted by: Tami at October 18, 2012 10:13 AM (X6akg)
Posted by: Jones in CO at October 18, 2012 10:14 AM (8sCoq)
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at October 18, 2012 10:14 AM (8y9MW)
Posted by: Buzzsaw at October 18, 2012 10:14 AM (tf9Ne)
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at October 18, 2012 02:12 PM (8y9MW)
-----
I never tire of seeing you and Steevie post that.
I do, however, look forward to your insertion of the prefix "ex" in front of tyrant on the 7th.
Posted by: fixeruppper at October 18, 2012 10:14 AM (C8hzL)
running an douchebag AP story based on some state rep in Fla claiming that provisional ballots are being tossed out, claiming that the 'butterfly ballot' cost AlGore the presidency, etc
They're getting skeered--very jittery and increasingly paranoid
Posted by: zombie Abraham Lincoln at October 18, 2012 10:15 AM (Dll6b)
i'm really not impressed.
Posted by: willow at October 18, 2012 10:15 AM (hX8cq)
Posted by: Nate Silver at October 18, 2012 10:16 AM (NWLVJ)
Posted by: Robot Squirrel Overlords at October 18, 2012 10:16 AM (sOtz/)
Obamabots resorting now to the, "I know what people heard them say, but that doesn't mean that they really said it. On that we can all agree," argument to justify the myriad of Benghazi lies.
I'm skeptical about how well that will work.
Posted by: HtP at October 18, 2012 10:16 AM (jx2j9)
Posted by: t-bird at October 18, 2012 10:16 AM (FcR7P)
Posted by: eleven at October 18, 2012 10:17 AM (KXm42)
Posted by: Tami at October 18, 2012 02:13 PM
181 billion
Posted by: Dept. of Accuracy Dept. at October 18, 2012 10:17 AM (+I8Mq)
67 Anyone keeping a running total of taxpayer money that's gone to these bankrupt companies? Solyndra was $500M, A123 was $250M, Satcon $3M....there are a bunch of others, aren't there?
Yeah, Tami...there've been a lot of them.
And also, what about those jobs that have been lost?
The job loses may get mentioned in the unemployment numbers....
But Barky's claim of "Created 5 million new jobs" never changes!
Posted by: wheatie at October 18, 2012 10:17 AM (ipkPX)
How do you know ace doesn't read his own blog? Because we're nearing 100 comments on this post, and we're still in formatting FAILdom.
Not that I mind. I actually prefer the gray (or blue, depending on browser) to the white background.
Posted by: MWR, Proud Tea(rrorist) Party Hobbit and ABO Supporter [/b][/i][/u] at October 18, 2012 10:17 AM (4df7R)
If he did ( and that's a giant IF ) I have no doubt they're part time, no benefit, no health insurance jobs that even Mike Rowe wouldn't want to do.
I also have no doubt the Democrats will, in years to come, when Romney and Ryan are comfortably situated in the White House, decide that these very same jobs are unfairly taking advantage of workers and that minimum wage should now be 25.00 / hour and that 20 hours per week should be the new definition of 'full time'.
Posted by: Schrödinger's cat at October 18, 2012 10:17 AM (feFL6)
I'll have to think how to modify that. Maybe I can just go with "loser." SCOAML? No, that doesn't work.
"Barack Obama is a stuttering clusterf*ck of a miserable reject?" SCOAMR?
Meh, I'll get it figured out. Above all, he is and ever will be a SCOAMF.
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at October 18, 2012 10:17 AM (8y9MW)
Not bad for a one term SCoaMF.
Posted by: GnuBreed at October 18, 2012 10:18 AM (ccXZP)
Posted by: Dr. Varno at October 18, 2012 10:18 AM (bg/Pg)
Posted by: Barky at October 18, 2012 10:18 AM (NWLVJ)
"I know what people heard them say, but that doesn't mean that they really said it. On that we can all agree," /i]
So they're taking justification advice from Adele?
Posted by: MWR, Proud Tea(rrorist) Party Hobbit and ABO Supporter [/b][/i][/u] at October 18, 2012 10:18 AM (4df7R)
http://preview.tinyurl.com/9tpaap9
Posted by: Ian S. at October 18, 2012 10:18 AM (rPA5/)
Posted by: rd loves the new format at October 18, 2012 10:18 AM (zLp5I)
“This has been a difficult time for Satcon,” president and CEO Steve Rhoades said.
Not that great for the taxpayer either. I assume the Dept of Energy had enough warning to transfer all its debtor priority rights to the other creditors. As for the former shareholders, I imagine that right now they are farting through silk. Dump the shares right after the grant is announced ; that's the ticket.and before the bankruptcy hits. You've got to be really quick with the companies Obama chooses.
Posted by: Dirks Strewn at October 18, 2012 10:18 AM (VLifP)
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at October 18, 2012 02:14 PM (8y9MW)
That right there is RAYCISSSSS!!!!!!11!!!
Posted by: BCochran1981 at October 18, 2012 10:19 AM (da5Wo)
If he lands on Michelle's ass he'll be fine.
Posted by: hindmost at October 18, 2012 10:19 AM (t6Jvs)
Posted by: Larry Flynt at October 18, 2012 10:19 AM (e0xKF)
Posted by: TheQuietMan at October 18, 2012 10:19 AM (1Jaio)
Posted by: DangerGirl (@deadlyestrogen) at October 18, 2012 10:19 AM (t0hSy)
Posted by: Niedermeyer's Dead Horse at October 18, 2012 10:19 AM (piMMO)
Posted by: Chinese girl with tiny feet at October 18, 2012 10:20 AM (3ZtZW)
I thought they filed, though....and then Johnson Controls bid on them.
wheatie, I checked and you are correct. A123 did file for bankruptcy. The article seemed to indicate the purchase has happened. I'm not sure.
Posted by: Ronster at October 18, 2012 10:20 AM (H5i76)
This is not important, people. Let's concentrate on the new gaffe Ryan made the other day. So much more important things to discuss. Seriously. Our economy? Tax dollars? Silly green companies? Not important.
Posted by: Mo the Girl at October 18, 2012 10:20 AM (g2UrB)
Posted by: president downgrade at October 18, 2012 10:20 AM (evdj2)
One of the policies they blame is the Bush Tax Cuts. That Obama extended.
No, it doesn't make sense, but you knew that.
Posted by: Hollowpoint at October 18, 2012 10:20 AM (SY2Kh)
George W. Bush
Tax breaks
Arab Spring
Japanese earthquake
Globalization
George W. Bush
Automation technologies
Eurozone crisis
Republican House
ATM usage
George W. Bush
The Weather
Bad luck
Super PAC ad spending
Lack of stimulus money
George W. Bush
The Tea Party
Unmanned airport ticket kiosks
Oil speculators
Underestimation of economic crisis
George W. Bush
Businesses not expanding
Americans being soft and lazy
Fox News
Energy companies not getting behindÂ…algae
Did I mention George W. Bush ?
Posted by: Pres**ent Barack “Unexpectedly” Obama at October 18, 2012 10:20 AM (e8kgV)
"Barack Obama is a stuttering clusterf*ck of a miserable reject?" SCOAMR?
Meh, I'll get it figured out. Above all, he is and ever will be a SCOAMF.
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at October 18, 2012 02:17 PM (8y9MW)
SCOAEP? We might actually be able to figure out how to pronounce that one.
Posted by: BCochran1981 at October 18, 2012 10:20 AM (da5Wo)
if you're an idiot.
****
For once he had the good sense to recognize the vitriol on the left for what it is.
Posted by: Niedermeyer's Dead Horse at October 18, 2012 10:20 AM (piMMO)
Posted by: maddogg at October 18, 2012 10:21 AM (OlN4e)
Those are just the retail stores
Posted by: Jcw46 at October 18, 2012 10:21 AM (Vh0f5)
Posted by: Niedermeyer's Dead Horse at October 18, 2012 02:20 PM (piMMO)
Some saying about blind squirrels and nuts comes to mind.
Posted by: HtP at October 18, 2012 10:21 AM (jx2j9)
Posted by: president downgrade at October 18, 2012 10:21 AM (evdj2)
1 internetz fine.
And, rumor has it. (sorry, it was obligatory)
It would be really nice if we could get the word out that solar power is a fool's game, and should be abandoned by the Government.
Actually, with very few exceptions, I don't think the government should be paying for any kind of "research and development." If said research will have any actual benefit, then some Evil Corporation will figure out a way to exploit it for profit- and then they'll pay for the R and D.
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at October 18, 2012 10:21 AM (8y9MW)
Posted by: t-bird at October 18, 2012 02:16 PM (FcR7P)
Sure I do. Microsoft ring a bell?
Posted by: © Sponge at October 18, 2012 10:22 AM (UK9cE)
Posted by: Dr. Varno at October 18, 2012 10:22 AM (bg/Pg)
89 "Created 5 million new jobs"
If he did ( and that's a giant IF ) I have no doubt they're part time, no benefit, no health insurance jobs that even Mike Rowe wouldn't want to do.
---------
And Govt Jobs.
I think that there are a shit ton of govt jobs in that figure he keeps using.
Which makes things worse.
We couldn't afford all the govt jobs that we were already on the hook for, when Barky took office.
And he added more!
Posted by: wheatie at October 18, 2012 10:22 AM (ipkPX)
Posted by: George Orwell what knows Ann Althouse has a more racially sensitive hoo-hoo than you at October 18, 2012 10:22 AM (AZGON)
****
Losing up
Posted by: Niedermeyer's Dead Horse at October 18, 2012 10:22 AM (piMMO)
=========
No shit. Could you imagine where we'd be if we'd actually had a President and Congress that wanted to help America--instead of their cronies?
Posted by: RoyalOil at October 18, 2012 10:22 AM (imtbm)
win win
Posted by: willow at October 18, 2012 10:23 AM (hX8cq)
No, it doesn't make sense, but you knew that.
Posted by: Hollowpoint at October 18, 2012 02:20 PM (SY2Kh) "
"Deregulation" is mentioned frequently. The causes of the Real Estate Bubble which triggered this are ignored, of course.
Posted by: Bevel Lemelisk at October 18, 2012 10:23 AM (TpXEI)
Posted by: polynikes at October 18, 2012 10:23 AM (m2CN7)
Posted by: Dante at October 18, 2012 10:23 AM (NWLVJ)
Hahahaha. Bill Clinton today in Ohio with Springsteen: "Obama hasn't fixed the economy".
http://preview.tinyurl.com/9tpaap9
Posted by: Ian S. at October 18, 2012 02:18 PM (rPA5/)
Bill is starting the payback machine. Just a few off-message sound bites here and there. An "unexpected" gaffe is yet to come. And Obama loses a percent or two in Ohio.
Posted by: rd loves the new format at October 18, 2012 10:24 AM (zLp5I)
No way. The regulatory environment is such that there's no practical way for the purchase to finalize in less than a month- and it usually takes longer than that.
It may be an accepted bid, but there's still all the regulatory paperwork and such that will have to be completed.
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at October 18, 2012 10:24 AM (8y9MW)
It's amazing how much better the val-u-rite tastes with a lead. Just sayin'... before I pass out.
Posted by: HtP at October 18, 2012 10:24 AM (jx2j9)
Manufacturing? In the USA? Against 1.2 billion communist Chinese? With no labor laws, OSHA, EPA, or the 1,000 other ways you shoot yourselves in the foot.
Stop. You're making my ribs hurt.
Posted by: Chinese Manufacturing - Doing the Jobs You Didn't Want at October 18, 2012 10:25 AM (feFL6)
Abound Solar (Loveland, Colorado), manufacturer of thin film photovoltaic modules.
Beacon Power (Tyngsborough, Massachusetts), designed and developed advanced products and services to support stable, reliable and efficient electricity grid operation.
Ener1 (Indianapolis, Indiana), built compact lithium-ion-powered battery solutions for hybrid and electric cars.
Energy Conversion Devices (Rochester Hills, Michigan/Auburn Hills, Michigan), manufacturer of flexible thin film photovoltaic (PV) technology and a producer of batteries and other renewable energy-related products.
Evergreen Solar, Inc. (Marlborough, Massachusetts), manufactured and installed solar panels.
Mountain Plaza, Inc. (Dandridge, Tennessee), designed and implemented “truck-stop electrification” technology.
OlsenÂ’s Crop Service and Olsens Mills Acquisition Co. (Berlin, Wisconsin), a private company producing ethanol.
Range Fuels (Soperton, Georgia), tried to develop a technology that converted biomass into ethanol without the use of enzymes.
Raser Technologies (Provo, Utah), geothermal power plants and technology licensing.
Solyndra (Fremont, California), manufacturer of cylindrical panels of thin-film solar cells.
Spectrawatt (Hopewell, New York), solar cell manufacturer.
Thompson River Power LLC (Wayzata, Minnesota), designed and developed advanced products and services to support stable, reliable and efficient electricity grid operation.
From Heritage.org http://tinyurl.com/csodhvk Dated 7-24 2012
Posted by: Jcw46 at October 18, 2012 10:25 AM (Vh0f5)
Posted by: Bill from Chappaqua at October 18, 2012 10:25 AM (MAhUT)
No, it doesn't make sense, but you knew that.
Posted by: Hollowpoint at October 18, 2012 02:20 PM (SY2Kh)
and War, hat Obama has extended or found new countries to war in.
but
squirrel !
Posted by: willow at October 18, 2012 10:26 AM (hX8cq)
Posted by: maddogg at October 18, 2012 10:26 AM (OlN4e)
The complete list of 36 failed or close to failing companies receiving DOE funds is at the link in my sig.
Posted by: GnuBreed at October 18, 2012 10:26 AM (ccXZP)
Posted by: Jones in CO at October 18, 2012 10:26 AM (8sCoq)
And the fact that liberal heroes like Barney Frank actively derailed GOP efforts to reign in the subprime loose shit by Fannie Freddie. Because... (wait for it)... RACISM!!!
Posted by: Hollowpoint at October 18, 2012 10:27 AM (SY2Kh)
Posted by: Jcw46 at October 18, 2012 02:25 PM (Vh0f5)
Posted by: GnuBreed at October 18, 2012 02:26 PM (ccXZP)
--------------------Thank you both------------
Posted by: rd does not trust the MSM at October 18, 2012 10:31 AM (zLp5I)
Posted by: rd does not trust the MSM at October 18, 2012 10:34 AM (zLp5I)
http://tinypic.com/r/34raxqe/6
Posted by: Jones in CO at October 18, 2012 02:26 PM (8sCoq)
**
Heh..now the ladies in my office are snickering...wimmins are soooo caddy.
Posted by: dananjcon at October 18, 2012 10:36 AM (eavT+)
It's amazing how much better the val-u-rite tastes with a lead. Just sayin'... before I pass out.
Posted by: HtP at October 18, 2012 02:24 PM (jx2j9)
**
Man, are all you mo-rons retired, independently wealthy or simply fun-employed?? Wish I could drink and bullshit with fake internet friends all day.
Posted by: dananjcon at October 18, 2012 10:38 AM (eavT+)
Posted by: Dept. of Accuracy Dept. at October 18, 2012 02:17 PM (+I8Mq)
Really?! Holy crap!
Posted by: Tami at October 18, 2012 10:42 AM (X6akg)
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Posted by: t-bird at October 18, 2012 10:01 AM (FcR7P)