Another One Bites The Dust

Updates

October 26, 2012: Another one bites the dust -- Al gore's Current TV is up for sale!

Original Post

Link here to Bloomberg.com.

A123 Systems Inc. (AONE), the electric car battery maker that received a $249 million federal grant, filed for bankruptcy protection after failing to make a debt payment that was due yesterday.

The filing may fuel further political debate over government financing of alternative-energy and transportation businesses. Federal grants and loans to companies including A123, Fisker Automotive Inc. and Tesla Motors Inc. have drawn scrutiny from congressional Republicans following the September 2011 bankruptcy filing of solar-panel maker Solyndra LLC two years after it received a $535 million loan guarantee from the U.S. Energy Department.

The company's automobile business assets were sold to Johnson Controls, I believe. 

In the Summertime, Mungo Jerry