Another Obama Loser

Posted on October 16, 2012 by

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Let’s all hope Obama never becomes a bookie. Or, if he does, that he’s a bookie just for the likes of George Soros, MoveOn.org, and the Tides Foundation.

Here it, is, the morning of the second debate and another Obama loser surfaces. Take a listen: I Spy Minute Tues., October 16th, 2012.

Or read the transcript, below…

@iSpyRadioShow #iSpyMin

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One of my favorite Romney lines from the first debate was, “I had a friend who said you don’t just pick the winners and losers, you pick the losers.”

And here we are, the morning of the second debate, and another Obama loser surfaces.

In August 2009, A123 Systems, a small, privately held company that wanted to get into the battery business received $249 million from the Obama stimulus.

They received the money even though they had just lost their bid to provide the batteries for the Volt.

A month later, they went public, with an initial public offering of 28 million shares, at $20.29 per share.

How’d this Obama pick do? They went on to post 14 straight quarterly losses. The only thing they seemed good at was borrowing money and currently have an 82% debt-to asset ratio.

Today, they declared bankruptcy, and those shares are currently selling at six cents per share. Those 28 million shares went from a value of $568 million to $1.6 million.

Maybe for tonight, Romney needs to change his line: “You don’t just pick the losers, you pick the astronomical losers.”

 

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