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The U.S. government has signed off on the sale of bankrupt A123 Systems (AONEQ.PK -13.3%) to...

The U.S. government has signed off on the sale of bankrupt A123 Systems (AONEQ.PK -13.3%) to Chinese auto parts maker Wanxiang Group, Wanxiang announces. Some members of Congress had objected to the sale, citing energy security concerns and the $249M grant (not fully released) that A123 had received from Uncle Sam. A U.S. bankruptcy court and creditors have already approved the deal. A123 shares are currently trading at $0.035 on the pink sheets.
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Comments (15)
  • HoldAndBuyInvestor
    , contributor
    Comments (146) | Send Message
     
    Great job Obama. Wasted millions of tax-payers money on solar and now you are out to destroy coal industry.
    29 Jan 2013, 02:21 PM Reply Like
  • MustangMajor
    , contributor
    Comments (102) | Send Message
     
    Oh, he's already killed the coal industry, this is the lithium-ion
    battery industry. But it was mainly killed off by inept management
    who stayed focused on their extraordinary compensation packages
    to the bitter end, gaining bonuses to stay around long enough to
    see who would own the wreckage they created. If they were
    Chinese executives in China and had used state money the way
    these guys did, they would be in prison or dead.
    29 Jan 2013, 06:10 PM Reply Like
  • HoldAndBuyInvestor
    , contributor
    Comments (146) | Send Message
     
    90+B spent on solar fraud. Inept management is the big is the donor for Obama election campaign. I guess you will still deny it.
    29 Jan 2013, 06:11 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    I wish I could lose that amount of money...and keep my job...
    29 Jan 2013, 02:25 PM Reply Like
  • Hubert Biagi
    , contributor
    Comments (698) | Send Message
     
    None of this matters, Oblama was re-elected and is onto other things. Like securing the Latino vote for the next democratic candidate. The pubs are scrambling to pander as well. Our "republic" has slipped even further into a populist democracy. It feels good for now.
    29 Jan 2013, 03:00 PM Reply Like
  • HoldAndBuyInvestor
    , contributor
    Comments (146) | Send Message
     
    Eventually, who is getting screwed. Common americans. After legalizations, millions will get support for which they never paid for. So, this will lead to whatever welfare support we have.
    29 Jan 2013, 03:04 PM Reply Like
  • SoldHigh
    , contributor
    Comments (1013) | Send Message
     
    Failure is how Obama defines success - the 2012 election results suggest that the majority is now ignorant enough to agree.
    29 Jan 2013, 03:14 PM Reply Like
  • herndon74
    , contributor
    Comments (5) | Send Message
     
    What happens to the shares of A123 Systems??
    29 Jan 2013, 04:09 PM Reply Like
  • HoldAndBuyInvestor
    , contributor
    Comments (146) | Send Message
     
    Dis-appear. During chapter 11 filing, it goes to 0. But during chapter 7 filing, which is also bankruptcy, shares retain some value.
    29 Jan 2013, 04:12 PM Reply Like
  • herndon74
    , contributor
    Comments (5) | Send Message
     
    If a tree falls in Asia you guys blame Obama get a life!!!!!!!!!!!
    Not every business adventure works!!!! but if you check the record the
    bushiness that did receive stimulus success rate is about 90%????????????????? u do the math
    29 Jan 2013, 04:11 PM Reply Like
  • HoldAndBuyInvestor
    , contributor
    Comments (146) | Send Message
     
    Are you nuts. 50% of solar companies mostly owned by people who donated to Obama's campaign; Obama paid tax-payers money and are nearly bankrupt.

     

    Now if a tree falls scenario does not hold true. Look it up properly how many solar companies went bankrupt. As of today, 74% of those companies are in financial distress, if you know what it means. And thats 94B gone (pax-payers money).
    29 Jan 2013, 10:15 PM Reply Like
  • jerry hyer
    , contributor
    Comments (30) | Send Message
     
    I believe your wrong???? but didn't 34 companies go broke?? I may be wrong but it's still obama's fault. hehe
    30 Jan 2013, 03:27 AM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    If any of them donated to Obama campaign...Obama should pay that back....that is the peoples money....not his...

     

    and the press just takes a nap on this stuff....they are no longer the 4th rail...they are now the Propaganda wing of the Obama Administration
    30 Jan 2013, 07:59 AM Reply Like
  • earlyriser1
    , contributor
    Comment (1) | Send Message
     
    What happens to the shares of AONE ? Is it chapter 11 or chapter 7?
    31 Jan 2013, 03:34 AM Reply Like
  • HoldAndBuyInvestor
    , contributor
    Comments (146) | Send Message
     
    Chapter 11. Wiped out tax-payers money in 2 ways, first via shares people bought and second via millions Obama admin gave to this scam company.
    31 Jan 2013, 02:08 PM Reply Like
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