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Re: nd Another One Bites The Dust

By: DGpeddler in POPE | Recommend this post (0)
Mon, 31 Oct 11 9:34 PM | 20 view(s)
Boardmark this board | (The) Pope's for real stock market report

Msg. 46121 of 65535
(This msg. is a reply to 46075 by CTJ)
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The sad thing is this was a good idea. It smooths out the electric grid which is something the local grid could use. Everything I use are on battery backup because the grid is so bad.

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The above is a reply to the following message:

Re: nd Another One Bites The Dust
By: CTJ in POPE
Mon, 31 Oct 11 5:45 PM

Msg. 46075 of 65535

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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