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Latest Ecotality Items
Despite a disastrous year for defunct car-charging company Ecotality, which went bankrupt only a few years after winning a $100 million federal grant, two high-level employees soon stand to receive hefty retention bonus payments even though the company has no future.
Securities regulators are investigating a green energy company that won a $100 million federal grant under President Obama's stimulus program, only to end up bankrupt this fall.
Failing to heed the lessons of the Solyndra debacle, Energy Department officials kept quiet about their knowledge that a government-backed electric car charger company was sliding toward bankruptcy and putting taxpayer money at risk, the agency's chief watchdog has found.
Taxpayer-backed green energy company ECOtality filed for chapter 11 bankruptcy protection on Monday following weeks of turmoil in which the company laid off employees and ceased filling orders for its electric vehicle charging stations.