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AEI Scholar Kenneth Green on A123 Systems at risk of being delisted from the Nasdaq.
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Every -- to 250 million dollar grant from the federal government.
But the stock can't hit a buck on the NASDAQ.
As we told -- last night NASDAQ warning the car battery company -- 123 systems.
That -- stock will be delisted at the price doesn't go back up to a dollar.
And the company's closing price today 36 cents a share -- up one cent from yesterday's close with more on this can green.
Environmental scientists in AEI scholar what do you make of -- can.
While we have another great example of venture socialism where the government took taxpayer dollars to leave it cover the risk of risky venture.
Making super batteries for cars people aren't gonna buy.
Here of course the taxpayers now taking a hit when they're not gonna get their money back that was put into it into the company and stimulus.
It anyway this company -- get back about a dollar.
I don't see it you know course China now wants to buy -- -- snap up.
For virtually nothing what actually did he do work which is some are Indians and -- that aren't funny that's our investment that's our that's our proprietary knowledge.
That's exactly right and it's a it's a huge insult to taxpayers.
Knowledge the taxpayers' wallets and their intelligence.
That the administration continues to claim that that all of these investments like Solyndra anyone Q3 were perfectly fine and they were evaluated by career -- of the department of energy and there were no -- undue risks taken.
It's just really crazy as -- said its venture socialism.
Venture socialism I love that phrase I think it really works for the big winners here got to be the Chinese right they're buying it for a song.
They get all the work and have bad that happening -- the money for roll up -- -- but obviously not what it cost.
That's right the Chinese are gonna scoop up the the prize here.
Assuming of course that there -- a future electric vehicles that I have my -- serious doubts about -- discussed before so kind as well be that China's gonna buy themselves something worth very much.
But well -- -- -- now.
So federal government seems to be good at picking losers can we trust the federal government in this capacity is there any way the government can have a good influence on -- -- They can if they're sticking to fundamental university level are indeed.
And not picking favorite technologies if they're looking for new ways to improve battery chemistry at the university as opposed to.
Here's a company that says -- -- we've got a great technology investor -- History says the government are indeed can do well that way.
-- when you start trying to do venture capital stage of helping individual industries cross over their development.
Threshold that the money gets lost.
US find very interesting we're in the middle of it energy surge in this country Nat gas you name -- were on fire.
Do you think a lot of these technologies that we're spending so much time talking about wind power solar power do think they're gonna go by the wayside.
I do it -- of us of course environmentalists and the administration managed to over regulate hydraulic fracturing to the point where -- stifle the natural gas boom.
-- economics look from everybody I've talked to the economics look like it's natural gas all the way down and -- natural gas at these lower prices even if they go up a little bit wind and solar power simply not competitive.
And the bat without some sort of storage technology you can't get over the fact they blow at the wrong time or -- its long time in comparison to when you actually need the energy.
Uncle Sam can pick and Kenneth thanks for coming on tonight -- appreciate your time my grown very anytime.
