OOPS. Another Bankruptcy of Green Company

Now that we have entire "Green *" industry it is interesting to watch them collapse one-by-one. Soon after they get their "stimulus" money from Obama. Yes, it seems that many of them hang on by the nails just to get this money and then they go bankrupt.

This time it's lithium ion battery company.

The company, Ener1, received a $118 million grant from DOE in 2010 as part of the president’s stimulus package. The money, which went to Ener1 subsidiary EnerDel, aimed to promote renewable energy storage battery technology for electrical grid use.

My theory is that taking stimulus money to run a business is bad KARMA. (Greens and Libs know this word well.)

Read more here

* I am not sure anymore if "Green" stands for trees that we are supposed to protect or the money received from the government (not always legally either).