(See Updates re President Obama's statement in 2010 and money the State of Michigan flushed down the drain.)
Eric Savitz at Forbes relays news this morning that "A123 Systems has filed for bankruptcy protection in federal court ... Late yesterday, the battery company had warned that it was about to default on several loan issues, noting that a bankruptcy filing was a possibility; but it still seems startling to see them file just hours later."
What does (or did) A123 do? It "makes rechargeable lithium-ion batteries for electric cars." Savitz can't resist casting the bankruptcy in political terms in his third paragraph: