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	<title>Ecototality &#8211; CalWatchdog.com</title>
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		<title>Subsidized CA green firm goes belly-up; no one thinks it&#8217;s news</title>
		<link>https://calwatchdog.com/2013/09/20/subsidized-ca-green-firm-goes-belly-up-no-one-covers-latest-fiasco/</link>
					<comments>https://calwatchdog.com/2013/09/20/subsidized-ca-green-firm-goes-belly-up-no-one-covers-latest-fiasco/#comments</comments>
		
		<dc:creator><![CDATA[Chris Reed]]></dc:creator>
		<pubDate>Fri, 20 Sep 2013 18:00:35 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[California economy]]></category>
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		<category><![CDATA[Waste, Fraud, and Abuse]]></category>
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		<category><![CDATA[EV Project]]></category>
		<category><![CDATA[Chris Reed]]></category>
		<category><![CDATA[Fisker]]></category>
		<category><![CDATA[green fraud]]></category>
		<category><![CDATA[Solyndra]]></category>
		<category><![CDATA[Walter Russell Mead]]></category>
		<category><![CDATA[Ecototality]]></category>
		<category><![CDATA[federal stimulus funds]]></category>
		<guid isPermaLink="false">http://calwatchdog.com/?p=50143</guid>

					<description><![CDATA[When Solyndra collapsed in 2011, the failure of the Bay Area-company got lots of media coverage. Losing more than $500 million of taxpayer funds on a project that was never]]></description>
										<content:encoded><![CDATA[<p>When Solyndra collapsed in 2011, the failure of the Bay Area-company got lots of media coverage. Losing more than $500 million of taxpayer funds on a project that was never really vetted by federal stimulus overseers was considered news. Duh. Here&#8217;s a good overview of scandal coverage from an East Coast newspaper.</p>
<p><a href="http://calwatchdog.com/wp-content/uploads/2013/09/2eco.goog_.jpg"><img fetchpriority="high" decoding="async" class="alignnone size-full wp-image-50152" alt="2eco.goog" src="http://calwatchdog.com/wp-content/uploads/2013/09/2eco.goog_.jpg" width="430" height="215" align="right" hspace="20" srcset="https://calwatchdog.com/wp-content/uploads/2013/09/2eco.goog_.jpg 430w, https://calwatchdog.com/wp-content/uploads/2013/09/2eco.goog_-300x150.jpg 300w" sizes="(max-width: 430px) 100vw, 430px" /></a>But this week, when one more federally subsidized green firm went belly-up, it doesn&#8217;t even seem to be considered news in California or elsewhere.  The screen grab at right shows zero hits on a Google News search for &#8220;Ecototality.&#8221;</p>
<p>I only heard about it via New York state professor/blogger Walter Russell Mead, who cited this Sept. 17 <a href="http://www.reuters.com/article/2013/09/17/ecotality-bankruptcy-idUSL2N0HD26E20130917" target="_blank" rel="noopener">Reuters report</a>:</p>
<p style="padding-left: 30px;"><em>&#8220;(Reuters) &#8211; <a href="http://www.reuters.com/finance/stocks/overview?symbol=ECTY&amp;lc=int_mb_1001" target="_blank" rel="noopener">Ecotality Inc</a>, a maker of charging stations for electric cars that won a $99.8 million grant from the U.S. Department of Energy four years ago, has filed for <a href="http://www.reuters.com/finance/deals/bankruptcy?lc=int_mb_1001" target="_blank" rel="noopener">bankruptcy</a> protection and said it plans to auction its assets next month.</em></p>
<p style="padding-left: 30px;"><em>&#8220;The San Francisco-based company is among a growing number of U.S. alternative-energy companies that have struggled or succumbed amid consumer resistance to the high cost and restricted driving range associated with electric vehicles. &#8230;</em></p>
<p style="padding-left: 30px;"><em>&#8220;Citing &#8216;significant liquidity constraints and the difficulty of obtaining long-term financing,&#8217; Ecotality said an auction is necessary to maximize value for creditors and avoid a &#8216;fire-sale liquidation.&#8217; &#8230;</em></p>
<p style="padding-left: 30px;"><em>&#8220;Among other U.S. alternative energy companies, green car startup Coda Holdings Inc filed for bankruptcy protection in May after selling just 100 all-electric sedans.</em></p>
<p style="padding-left: 30px;"><em>&#8220;Meanwhile, the Energy Department on Tuesday said it will in October sell a non-performing loan made to another green car startup, Fisker Automotive.</em></p>
<p style="padding-left: 30px;"><em>&#8220;Ecotality&#8217;s $99.8 million grant was awarded in August 2009 to help develop the EV Project, a network of charging stations for vehicles such as the Chevrolet Volt and Nissan Leaf in major U.S. metropolitan areas.&#8221;</em></p>
<p>Apparently California journos simply don&#8217;t find it newsworthy that subsidized green ventures keep failing. It&#8217;s the norm, so why bother informing the public about it?</p>
<p>Sheesh.</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
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