October 31, 2011

Solyndra 2: Green Restated

Remember Solyndra?  Half a billion in loans before the solar panel company went belly up?  CBS is highlighting what looks like an early sequel to the stinkulus bonanza;
A company whose subsidiary received $118 million in stimulus grant money from the U.S. Department of Energy to build new electric car batteries has now been removed from trading on NASDAQ.
EnerDel got an Energy Department grant in early 2010 for battery manufacturing in Indiana but the stock of EnerDel's parent company, Ener1, fell from $4.04 in 2010 to just 9 cents on Thursday. By Friday NASDAQ had pulled the company from its listing leaving the stock at $0.00.
Wow. B-O-O-N-D-O-G-G-L-E.   Good thing the Obama administration is scandal-free.

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