To protect our future, and our children’s futures, I agree with Barack Obama’s Speech in Wisconsin today. What our President said in his speech in Wisconsin today about ZBB Battery Corporations Product and facility is the kind of commitment to jobs with a future and real products I have been looking for from President Obama and my party.
Didn’t hear it? Didn’t know about it? Check it out, please.
While I also believe that without jobs and serious work on the economy, we Democrats are in trouble – I ALSO believe that solid investment in American manufacturing, American higher and technical education for skilled jobs, and American infrastructure are what is needed for my own children’s future.
Go Barack!
Please share widely!
Amber,
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p>I wish he would have picked a better company to highlight. After he spoke so eloquently about how ZBB was exporting batteries around the globe I looked into the Company as a potential investment opportunity.
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p>Boy was I shocked, ZBB closed at $0.66 per share, down $0.04 per share on a day when the President sang their praises. I looked a little further to see what I was missing. They have sales for the first nine months of their fiscal year of $1,556,148 (and no its not in thousands). And they are not a new company, ZBB Energy was formed 12 years ago with its main operating subsidiaries formed in the early 1990’s.
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p>We need to have investment in the technologies of the future, but I am concerned when the President calls out a company as a leader and a winner when the company has not turned a profit in 12 years and does not look like it is set to do so for the foreseeable future.
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p>It hurts the message when the subject company does not match the story being told.
Same as Evergreen Solar, the government has no business being in the venture capital business. The money will disappear along with the jobs.
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p> “We wonder who in government looked at ZBB’s filings with the Securities and Exchange Commission. Since going public in June of 2007, ZBB has been hemorrhaging money. The firm lost $4.9 million in fiscal 2008 and $5.5 million in fiscal 2009. In its most recent filing, in May, it said it had lost $6.9 million for the first nine months of its current fiscal year. It explained it had a “cumulative deficit” of $44.1 million and informed shareholders that it “anticipates incurring continuing losses.” It acknowledged that its ability to continue as a “going concern” was predicated on its ability to drum up additional funds.”
They overdid the idea of wind power in the UK. Does anyone think it won’t be overdone here? Government subsidy breeds government corruption and boondoggles. Not much more.
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p>If there were a profit to be made in an industry, the bankers would be lined up with the cash to promote it. There wouldn’t be a requirement for taxpayer loans and guarantees.
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p>There is need for alternatives forms of energy. Throwing taxpayer monies at political favorites does not solve any problems but those of campaign donations.
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p>The President does speak well, though.
I have seen far too many small and medium businesses which were profitable close due to frozen lines of credit between 2008 and 2010.
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p>Bankers don’t line up to lend to small businesses, not even profitable, established small businesses. Nope. Nada.
Doesn’t look like a well run company, no bank would loan them money.
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p>I see the small banks, especially in MetroWest providing line of credit, the large banks have been out of that market for at least 5 years. Don’t even think of applying for loan with BofA they will lose your paperwork and you will have three different loan officers in a year.
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p>The increase in “S” Corporation tax rates (individual) is going to result in another batch of businesses going under or being shut down. This is exactly what happened in 1937, when Roosevelt increased tax rates and instituted an accumulated earning tax.
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