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Re: nd Another One Bites The Dust

By: CTJ in POPE | Recommend this post (2)
Mon, 31 Oct 11 5:45 PM | 21 view(s)
Boardmark this board | (The) Pope's for real stock market report

Msg. 46075 of 65535
(This msg. is a reply to 46074 by DGpeddler)
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Crony Socialism

ain't BHOzo great at picking winners???

(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 Department of Energy program.

The bankruptcy comes about two months after Solyndra -- a solar panel maker with a $535 million loan guarantee -- also filed for Chapter 11, creating a political embarrassment for the administration of President Barack Obama, which has championed the loans as a way to create "green energy" jobs.

Beacon Power drew down $39 million of its government-guaranteed loan to fund a portion of a $69 million, 20-megawatt flywheel energy storage plant in Stephentown, New York.

http://www.reuters.com/article/2011/10/31/us-beaconpower-bankruptcy-idUSTRE79T39320111031

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The above is a reply to the following message:

nd Another One Bites The Dust
By: DGpeddler in POPE
Mon, 31 Oct 11 5:37 PM

Msg. 46074 of 65535

If the U.S. government is picking winners and losers in alternative energy, Beacon Power Corp. .. (Nasdaq: BCON) may be one of the firms Uncle Sam has allowed to lose. Facing delisting from the Nasdaq for its rock-bottom stock price, the Tyngsboro, Mass. maker of smart grid technology has filed for Chapter 11 bankruptcy, following California-based Solyndra .. as another U.S. government-backed alternative energy company now seeking protection from creditors.

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