Stimulus-Backed ‘Green’ Bankruptcy of the Week: Ener1

By Doug Powers

When the story of the Department of Energy’s green loan program is written someday, the entire book will be contained in chapter 11:

After months of financial turmoil, an Energy Department-backed lithium ion battery company has filed for Chapter 11 bankruptcy protection.

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.

But despite generous federal support for the company, Ener1 was racked by problems last year. In October, NASDAQ delisted the company due to non-compliance with Securities and Exchange Commission filing requirements. A month later, the company’s president, chief executive, and top financial officer were fired.

On Thursday, Ener1 announced it will initiate a pre-packaged Chapter 11 bankruptcy plan as part of an agreement to restructure the company’s debt obligations.

The problem? Something the government often fails to take into account when spending tons of other people’s money because they think it can be artificially created later on: Product demand

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The 10 Best NFL Teams of All-Time To Not Win The Super Bowl

With the Giants and Pats facing off in a Super Bowl rematch, we can’t forget the significance of the first matchup. The Pats were 1 win away from an undefeated season and most likely would’ve been called, The Greatest Team of All-Time. But one Giant loss forever altered how they’ll be remembered 10, 20, 30 years down the road. Unfortunately, history rarely remembers the losers; the teams who came up short despite their overwhelming dominance in the regular season. This list will countdown the top teams to not win the Super Bowl in their respective seasons. Let us know if we missed any teams in the comments.

Marine base can’t censor criticism of Muhammad

A federal judge has permanently banned officials at Camp LeJeune Marine Corps Base in North Carolina from censoring bumper stickers and window decals critical of Islam and its prophet, Muhammad.

The ruling came in the case of a civilian employee who had served 25 years in the Marines including two combat tours in Vietnam before he retired.

Jesse Nieto lost his youngest son, Marc, in the Oct. 12, 2000, attack on the USS Cole by Islamic terrorists and subsequently carried bumper stickers and decals critical of the violence of Islam, including “We died, they rejoiced,” “Islam = Terrorism” and a picture of Calvin, of Calvin and Hobbes cartoon fame, urinating on a cartoon illustration of Muhammad.

The camp base ordered the criticisms of Islam censored, and when Nieto refused, brought court action against him.

Yesterday’s ruling from Senior U.S. District Judge Malcom J. Howard reversed the order.

via Marine base can’t censor criticism of Muhammad.

This letter from David Codrea is excellent. If you are ignorant of the “Fast and Furious” gun walking scandal, I suggest you go over to David’s site and get caught up.

There really needs to be some impeachment going on over this one.

Ignorant or lying? An open letter to Rep. Hank Johnson

Rep. Johnson,

I won’t begin this with letter with the salutation “Dear,” because I only have contempt for you, and the disgusting responses you gave to The Daily Caller when they asked you about the Congressional investigation into the Fast and Furious “gunwalking” international criminal conspiracy (see article for video–Examiner.com does not accomodate the html code to embed it here).

Has Guam tipped over and capsized yet?

And have you “fl[own] a space shuttle” through the “gun show loophole” yet—you know that “hole in our gun control laws” you lie about when you say “untold thousands of unlicensed private weapons dealers…are selling firearms, including automatic assault rifles of the type that walked away in Operation Fast and Furious.”

via Ignorant or lying? An open letter to Rep. Hank Johnson – National gun rights | Examiner.com.

FACT CHECK: Obama pushes plans that flopped before

WASHINGTON AP – It was a wish list, not a to-do list.President Barack Obama laid out an array of plans in his State of the Union speech as if his hands weren’t so tied by political realities. There can be little more than wishful thinking behind his call to end oil industry subsidies – something he could not get through a Democratic Congress, much less today’s divided Congress, much less in this election year.

And there was more recycling, in an even more forbidding climate than when the ideas were new: He pushed for an immigration overhaul that he couldn’t get past Democrats, permanent college tuition tax credits that he asked for a year ago, and familiar discouragements for companies that move overseas.A look at Obama’s rhetoric Tuesday night and how it fits with the facts and political circumstances:

OBAMA: “We have subsidized oil companies for a century. That’s long enough. It’s time to end the taxpayer giveaways to an industry that’s rarely been more profitable, and double-down on a clean energy industry that’s never been more promising.”

THE FACTS: This is at least Obama’s third run at stripping subsidies from the oil industry. Back when fellow Democrats formed the House and Senate majorities, he sought $36.5 billion in tax increases on oil and gas companies over the next decade, but Congress largely ignored the request. He called again to end such tax breaks in last year’s State of the Union speech. And he’s now doing it again, despite facing a wall of opposition from Republicans who want to spur domestic oil and gas production and oppose tax increases generally.

via My Way News – FACT CHECK: Obama pushes plans that flopped before.

The GOP has put this together for your enjoyment:

Apparently, I’m not the only one who thinks this…

A Generation Losing Hope: The Shattering of the American Dream

By Frank Ryan

Before our very eyes, a generation of Americans is losing faith in the American dream and adopting attitudes and behaviors that emphasize living for the day, not planning to take care of their own futures. They clearly see the problems ahead and draw rational conclusions.

Most of our problems have been caused by government. The unintended consequences of poorly thought out legislation or legislation designed merely to garner votes for re-election is wreaking havoc on economic opportunity for our country.

For one, the regulatory burden by our government on economic growth is well-known. The regulatory impact of the Dodd-Frank bill, the Affordable Care Act, No Child Left Behind, and the EPA all influence costs but, concurrently, adversely affect productivity and our competitiveness in world markets.

via Articles: A Generation Losing Hope: The Shattering of the American Dream.

People still trust these morons. At least those that haven’t figured out the Internet.

Go read this over at The Anchoress.

Pro-Lifers and the Truth-Phobic Press « The Anchoress.