Obama Picks Another Weiner Or: Are You Sure That Company Name Isn’t Spelled E-N-N-U-I?

Sure seems like it should be.

Obama-backed electric car battery-maker files for bankruptcy

An Indiana-based energy-storage company, whose subsidiary received a $118.5 million stimulus grant from the Energy Department, filed for bankruptcy Thursday.

Ener1 is asking a federal bankruptcy court in New York to approve a plan to restructure the company’s debt and infuse $81 million in equity funding.

“This was a difficult, but necessary, decision for our company,” Ener1 CEO Alex Sorokin said in a news release. “We are extremely pleased to have the strong support of our primary investors and lenders to substantially reduce the company’s debt.”

Via Ace

categories Biz, Nanny State, People, Politics | | datetime January 26, 2012 3:36 pm

3 Responses to “Obama Picks Another Weiner Or: Are You Sure That Company Name Isn’t Spelled E-N-N-U-I?”

  1. Syd B; says:
    January 26, 2012 at 6:22 pm

    Takes a lick’n and keeps on tick’n.

    Oh, wait.

  2. aelfheld says:
    January 27, 2012 at 2:59 pm

    As one of those ‘primary investors’ via the U.S. Treasury, I can assure Mr. Sorkin that he most definitely does not have my ‘strong support’.

  3. Greg Newson says:
    January 29, 2012 at 3:16 am

    How did this company and that
    Solyndra company blow so much money-millions and millions- in two years?
    No one has ever asked that.
    Solyndra had like a 1000 employees and must of had some revenue coming in.
    These sound like rip-off scams with millions in Swiss bank accounts.

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