What about that Duck thingy.
Posted on 10/31/2011 6:10:41 AM PDT by kcvl
(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.
There are several key differences between the two loans, an Energy Department spokesman said on Sunday, noting the Beacon plant continues to operate, unlike Solyndra, which shut down shortly before filing for bankruptcy.
The Energy Department also had agreed to restructure Solyndra's debt in a last-ditch effort to keep the company alive, a deal which put taxpayers behind $75 million in private investment. But for the Beacon project, the government loan is the first debt the company must pay, the spokesman said.
(Excerpt) Read more at reuters.com ...
WHERE ARE THE REPUBLICANS????
Doesn’t all this obvious crony capitalism count as bribery and robbery? The Repubs should be out and about and screaming at the gods over this waste of our taxpayer money! Yet silence is all we hear save the Rush Limbaugh’s, Mark Levin’s.
I have a silly anecdotal comment about solar power and welcome brickbats if I’m nuts....but I love yard ornaments of all sorts. I have little grave markers for my deceased pets, raccoons holding lanterns, crabs scurrying in the garden. A lot of this stuff has so-called solar panels in them. NONE OF THEM WORK!
They’re supposed to, I dunno, glow at night or some such, after gathering power all day from the sun. They’ve never worked since I’ve got them and don’t work now, no matter the age and even if situated in direct sunlight.
I’m jus’ sayin’.
Seems like a loan from Obama is the kiss of death..
“But for the Beacon project, the government loan is the first debt the company must pay, the spokesman said.”
Whew! That sure eases my worries....NOT!
What is one more political embarrassment to Obama?
Political embarrassments do not harm him in any way.
He is supported by a percentage of followers who wear blinders,because of his race and his political party.
Fast and Furious, his atropcious Obamacare, his handing the Middle East to the Muslim Brotherhood, his travels at our expense, vacations, His EO’s and regulations destroying jobs ,should be a burden no President could overcome, but nothing seems to faze his followers. Even the fact that blacks are suffering more than anyone from no jobs and illegals taking their jobs.
Zero is SO GOOD at picking winners. . . . .
Media-”Yawn.”
www.wimp.com/lightenup
Why didn’t this show up in my post??? Sure hope it works. Copying and pasting didn’t!!!!
Where is this company ??
If I skimmed the article correctly its in Massachusetts.
Maybe part of the bankruptcy cause is the HEALTH CARE SHAM in Mass ??! Romneycare.
Will the media investigate this? Nope.
1200 Pennsylvania Ave.
Tel. 1-800-rip-offu
``Bring us your items!
-We will give you cash!-
-We won`t even check to see if they work or not!``
Beacon Power Corp
65 Middlesex Rd
Tyngsboro, Massachusetts 01879
(978) 661-2000
beaconpower.com
Capp, Bill
Andover, MA 01810
Beacon Power Corporation/CEO OBAMA, BARACK (D)
President
OBAMA VICTORY FUND $500
primary 10/15/08
I built one of these in my garage but I'm still trying to finalize design on the perpetual motion power source to drive it.
What about that Duck thingy.
I thought it was 1600 Pennsylvania Avenue?
Check the batteries. There is probably something like a little piece of paper in there to keep the battery from making a connection so that it won’t cycle on and off while in the store.
Thanks for posting.
DEFUND socialist collectives. This crony fascism/socialism/totalitarianism is destroying America.
Occupy DOE
Hey!
I used to have one of those robots when I was a little kid! Brings back memories of Christmases past...
CA....
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