Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: TideGlider who wrote (133465)	5/23/2012 2:41:06 PM
From: sm1th	3 Recommendations Read Replies (2) \| Respond to of 224724

Another Obama picked "winner" on its way down This week, two months after a costly and embarrassing battery recall, A123 Systems released sharply lower first-quarter revenues and earnings: The battery innovator posted a first-quarter loss of $125 million, with revenues down 40 percent from the first quarter of 2011, a result far worse than investors had anticipated, according to the Wall Street Journal. Struggling to regain confidence and in desperate need of a short-term cash infusion, the maker of nano-technology-enabled lithium ion batteries announced it was seeking strategic guidance. Over the years, A123 Systems has received extensive support from the U.S. Advanced Battery Consortium and obtained $128.6 million in grants from the U.S. Department of Energy to build a manufacturing plant in Michigan. With Republicans eager to highlight Obama Administration failures in "picking technology," could the A123 situation turn into a significant political liability for the president, like the Solyndra debacle?