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This is another Solyndra-like rat that I think the GOP set up while Bush was in office and kicked into the Obama court.  It think the whole GREEN Energy Loan program was a set up.  Both Solyndra and A123 DOE loans were initiated while Bush was in office.  Clever albeit skanky.

Here's George W Bush with the President of A123 in 2007

A123 George Bush Began this, Just like Bush began Solyndra

From the article:

But A123's government grant was never supposed to repaid.

The company had to match the money as it was used. So far it has received $132 million of the grant, Energy Department spokeswoman Jen Stutsman said.

The company also got a $6 million research grant in 2007 under the Bush administration, she said.

The department said in a statement that it's common for firms to consolidate as a new industry grows and matures.

A123 subsidiaries outside the U.S. were not included in the bankruptcy filing.

Here's the law Bush Administration passed ENERGY POLICY ACT OF 2005 if you inclined to read such things.

I smelled a rat when this story broke probably because of Solyndra.  I think I found the rat.  Yes, I am pushing this out here ASAP, so I will report back if the rat I think I have found changes stripes.

CEBERUS Capital Management! A bastion of right wing political players like Dan Quayle.  

IMPORTANT TO NOTE, as the media seems to have amnesia.  The Bush administration started the GREEN TECH Loans!

May 2005: Just as a global silicon shortage begins driving up prices of solar photovoltaics [PV], Solyndra is founded to provide a cost-competitive alternative to silicon-based panels.

July 2005: The Bush Administration signs the Energy Policy Act of 2005 into law, creating the 1703 loan guarantee program.

December 2006: Solyndra Applies for a Loan Guarantee under the 1703 program.

You see, Johnson Controls will be taking over A123.

Auto parts maker Johnson Controls will pay $125 million for A123's auto business, which includes two Michigan factories and the lithium-ion battery technology used in cars like the Fisker Karma and upcoming Chevrolet Spark.
And Johnson Controls is owned by IAP Worldwide, which in turn is owned by Dan Quayle's Ceberus.

I found this information here Federal Contractor Misconduct Database

Cerberus Capital Management, L.P.

Cerberus Capital Management, L.P. is a private investment firm. Among Cerberus' holdings are IAP Worldwide (which in turn owns Johnson Controls), Chrysler and GMAC

In April 2010, Cerberus acquired DynCorp International.
Federal Contract $: $2612.0M

Recently, the New York Times reported about how Private Equity Firms collude.  Bain is included in the story.  Ceberus is one of the really, really big private equity firms.

Dan Quayle, as most of you remember, was George W Bush's dad's Vice President.  He is now Chairman of Ceberus.

Dan Quayle is supporting Romney.

Vice President Dan Quayle will speak about the upcoming election, his support for Governor Mitt Romney, and capitalism in America.
I have no doubt that Romney will toss this nugget out tonight.

DO YOU THINK OBAMA CAN REMEMBER TO REMIND PEOPLE THAT BOTH A123 and SOLYNDRA were launched during the Bush Administration?

Solyndra & Bush

Exclusive Timeline: Bush Administration Advanced Solyndra Loan Guarantee for Two Years, Media Blow the Story

December 2006: Solyndra Applies for a Loan Guarantee under the 1703 program.

Late 2007: Loan guarantee program is funded. Solyndra was one of 16 clean-tech companies deemed ready to move forward in the due diligence process. The Bush Administration DOE moves forward to develop a conditional commitment.

If you catch anymore nuggets, let me know and I will add to diary.

On twitter, the RW is on this like bees on honey.  Of course most of them don't have a clue about the history.

Is it really possible that the Bush/Cheney/Rove GOP could have developed the Energy Policy Act of 2005 program hoping to put egg on the DEM 2008 President's face in case he won the election? Geesh, with so much lying and smoke screening from the Romney camp, not to mention 8 years of the Bush administration, perhaps I am overthinking the GOP ability to connive.

Yes, with the $Millions flying around (in Massachusetts when Romney was Governor), including lots of private equity money, is it possible there is a link to Romney and one of the huge number of Bain entities?  Click link to see the long list of Bain entitities listed with the SEC.  Confusion can easily hides sin!

I think that's a wrap!

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Comment Preferences

  •  Tip Jar (9+ / 0-)

    It's difficult to be happy knowing so many suffer. We must unite.

    by War on Error on Tue Oct 16, 2012 at 03:22:28 PM PDT

  •  Precious little time before the election (3+ / 0-)
    Recommended by:
    War on Error, Gemina13, Lujane

    to bring all the details out into the open.  We'll just have to defeat Rmoney without them.

    •  The fox news crowd is thumping their chests (4+ / 0-)
      Recommended by:
      Gemina13, Losty, Lujane, ColoTim

      about this one.

      As a way to deflect from Sensata.  So transparent.

      I bet it took them all of 48 hours to put this rather oddly timed bankruptcy on the front page of USA Today.  

      Trying to take some wind out of this sail.

      It's difficult to be happy knowing so many suffer. We must unite.

      by War on Error on Tue Oct 16, 2012 at 03:47:44 PM PDT

      [ Parent ]

  •  For the wonks: Here's the part of the law (2+ / 0-)
    Recommended by:
    Gemina13, Lujane


    (a) DEFINITIONS.—In this section: (1) BATTERY.—The term ‘‘battery’’ means an energy storage
    device that previously has been used to provide motive power in a vehicle powered in whole or in part by electricity.
    (2) ASSOCIATED EQUIPMENT.—The term ‘‘associated equip- ment’’ means equipment located where the batteries will be used that is necessary to enable the use of the energy stored in the batteries. (b) PROGRAM.—
    (1) IN GENERAL.—The Secretary shall establish and conduct a program of research, development, demonstration, and commercial application of energy technology for the secondary use of batteries, if the Secretary finds that there are sufficient numbers of batteries to support the program.
    (2) ADMINISTRATION.—The program shall be— (A) designed to demonstrate the use of batteries in secondary applications, including utility and commercial
    power storage and power quality; (B) structured to evaluate the performance, including
    useful service life and costs, of such batteries in field oper- ations, and the necessary supporting infrastructure, including reuse and disposal of batteries; and
    VerDate 14-DEC-2004
    12:04 Sep 08, 2005
    Jkt 039139    PO 00058    Frm 00270    Fmt 6580    Sfmt 6581    E:PUBLAWPUBL058.109    APPS10    PsN: PUBL058
    119 STAT. 862
    42 USC 16196.
    PUBLIC LAW 109–58—AUG. 8, 2005
    (C) coordinated with ongoing secondary battery use programs at the National Laboratories and in industry.
    (c) SOLICITATION.— (1) IN GENERAL.—Not later than 180 days after the date
    of enactment of this Act, the Secretary shall solicit proposals to demonstrate the secondary use of batteries and associated equipment and supporting infrastructure in geographic loca- tions throughout the United States.
    (2) ADDITIONAL SOLICITATIONS.—The Secretary may make additional solicitations for proposals if the Secretary determines that the solicitations are necessary to carry out this section. (d) SELECTION OF PROPOSALS.—
    (1) IN GENERAL.—Not later than 90 days after the closing date established by the Secretary for receipt of proposals under subsection (c), the Secretary shall select up to five proposals that may receive financial assistance under this section once the Department receives appropriated funds to carry out this section.
    (2) FACTORS.—In selecting proposals, the Secretary shall consider—
    (A) the diversity of battery type; (B) geographic and climatic diversity; and (C) life-cycle environmental effects of the approaches.
    (3) LIMITATION.—No one project selected under this section shall receive more than 25 percent of the funds made available to carry out the program under this section.
    (4) NON-FEDERAL INVOLVEMENT.—In selecting proposals, the Secretary shall consider the extent of involvement of State or local government and other persons in each demonstration project to optimize use of Federal resources.
    (5) OTHER CRITERIA.—In selecting proposals, the Secretary may consider such other criteria as the Secretary considers appropriate. (e) CONDITIONS.—In carrying out this section, the Secretary
    shall require that— (1) relevant information be provided to—
    (A) the Department; (B) the users of the batteries; (C) the proposers of a project under this section; and (D) the battery manufacturers; and
    (2) the costs of carrying out projects and activities under this section are shared in accordance with section 988.

    It's difficult to be happy knowing so many suffer. We must unite.

    by War on Error on Tue Oct 16, 2012 at 04:06:57 PM PDT

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