Atari US Operations, the Original Gaming Company that Brought Us Pong & Asteroids Files for Bankruptcy
Now this is a blow to my childhood … Before Nintendo, before Gameboys, before Wii, before the Internet, before Madden Football and before Call of Duty … There was Atari and Pong!
Atari US, the company that brought us Pong, Asteroids and many of the original video games that kids today would think are archaic, has filed for bankruptcy. Say it isn’t so. Atari was the company 40 years ago that helped spearhead the video game industry with such games as Pong, Asteroid and Centipede, as well as consoles to evolve the consumer electronics field has filed for chapter 11 bankruptcy protection. The filing was made in the United States Bankruptcy Court for the Southern District of New York and covers Atari Inc., Humongous Inc. and California US Holdings Inc.
The U.S. operations of iconic but long-troubled video game maker Atari have filed for bankruptcy in an effort to break free from their debt-laden French parent.
Atari Inc. and three of its affiliates filed petitions for Chapter 11 reorganization in U.S. Bankruptcy Court in New York late Sunday.
Its leaders hope to break the American business free from French parent Atari S.A. and in the next few months find a buyer to take the company private. They hope to grow a modest business focused on digital and mobile platforms, according to a knowledgeable person not authorized to discuss the matter privately.
Although the 31-year-old brand is still known worldwide for its pioneering role with video games such as “Pong” and “Asteroids,” Atari has been mired in financial problems for decades. Since the early 2000s it has been closely tied to French company Infogrames, which changed its name to Atari S.A. in 2003 and in 2008 acquired all the gaming pioneer’s American assets.
In the 1970′s during the ‘Golden Age of Arcade games, if you had Pong or an Atari game system, it was the equivalent of all of today’s gaming systems put together in one. It was your house that everyone went to after school.
Happy Anniversary Barack Obama … Two Years Ago Today Obama Celebrates Solyndra … “The true engine of economic growth will always be companies like Solyndra.” … Too Bad It’s Bankrupt
HAPPY ANNIVERSARY TO BARRACK OBAMA AND SOLYNDRA …
Today is the two year anniversary of President Barack Obama traveling to Freemont, CA and touting the green energy company Solyndra as a “brighter and more prosperous future”. One has to look no further as to why the US economy and job growth is in the crapper than to listen to Obama’s words of praise regarding Solyndra, ”The true engine of economic growth will always be companies like Solyndra.” Really? Obama’s shining example of “green” energy and the future did not take long to go bankrupt.
But on this day in 2010, with Solyndra already facing serious obstacles, President Obama was filled with optimism. “The true engine of economic growth will always be companies like Solyndra,” the president said. “Less than a year ago, we were standing on what was an empty lot. But through the Recovery Act, this company received a loan to expand its operations. This new factory is the result of those loans.”
“We’ve placed a big emphasis on clean energy,” Obama continued. “It’s the right thing to do for our environment, it’s the right thing to do for our national security, but it’s also the right thing to do for our economy…When it’s completed in a few months, Solyndra expects to hire a thousand workers to manufacture solar panels and sell them across America and around the world.”
Hey Barack, how is that Solyndra-greeny thing working out for you today? We have no jobs, but we got solar panel toxic waste.
It is rather comical and disingenuous that Obama and his minions attack Mitt Romney for his days at Bain Capital and failures of Bain when Obama has a laundry list of failed green energy companies on his record. Does Barack Obama really want to compare his failed “public equity” financing record versus Mitt Romney’s private equity record?
Green Energy, Solar Hazardous Waste??? Solyndra Maybe Bankrupt & Gone … No Jobs, No Stimulus Money … But We Got Toxic Waste
More from Obama’s “green” energy failure …
Solyndra may be bankrupt, so-called green jobs gone, the buildings for sale and $535 million of tax payer stimulus dollars evaporated into thin air, but according to CBS5 in San Fransisco … we have toxic waste. Hmm, the “Greenies” never mentioned the leftover hazardous materials dangerous to the environment bi-products of green energy.
Three months ago, CBS 5 caught Solyndra tossing millions of dollars worth of brand new glass tubes used to make solar panels. Now the bankrupt solar firm, once touted as a symbol of green technology, may be trying to abandon toxic waste.
It’s a tedious process. Slowly but surely, the shattered remains of brand new solar panel tubes head to a recycling plant in Hayward.
Meanwhile the next phase of the company’s liquidation is under way. It involves getting rid of all the heavy metals left inside the building that were used to make the panels.
Click on banner to watch CBS5 in San Fransisco VIDEO
Doug Powers at Michelle Malkin.com brings up a rather interesting dichotomy when it comes to so-called “green” energy.
As you read this keep in mind that the whole pitch for projects like Solyndra revolves around “clean” energy and saving the environment — which is harder to take seriously every time the term “solar waste” is used to describe the potentially dangerous aftermath.
Another Obama Green Energy Company Bites the Dust … Solar Trust Files Bankruptcy … Tax Payers Out Billions
Another one of Barack Obama’s “green” energy companies bites the dust . Solar Trust of America files bankruptcy. But don’t worry, its not like this was a Solydra, it was worse. The U.S. Department of Energy had awarded a $2.1 billion loan guarantee to Solar Trust of America for a solar thermal power plant near Blythe, CA. That is correct tax payers … $2.1 billion!!!
2.1 Billion Dollars BA-HA-HA-HA
Quickly running out of money, solar-project developer Solar Trust of America LLC filed for bankruptcy before it could finish a multibillion-dollar solar plant in California that was planned to generate electricity as one of the world’s largest solar-power projects.
The company filed for Chapter 11 bankruptcy protection in Delaware on Monday after majority owner Solar Millennium AG—now under the control of a German bankruptcy professional—stopped putting money into the company.
Who knew that we would look back upon the bankruptcy of Solyndra as a drop in the tax payers wasted money bucket? Just how many “green” jobs have been lost under Obama?
The Lonely Conservative opines that Barack Obama is making the political rounds on the campaign trail saying the Republicans want to cut his investments in green companies. And Obama thinks that doubling down and defending “green” companies that have lost the American tax payers billions of dollars is a winning argument? Really? No wonder he has switched to now making not so vale threats to the SCOTUS.
Think this is not a hot button issue for the 2012 election that is simmering beneath the surface? “We the People” are getting sick and tired of Obama picking “winners and losers”, mainly losers with our money.
Hmm … sorry, delayed post, got hung up in scheduler.
First the Barack Obama wasted $528 million tax payer Stimulus funded Solyndra declared bankruptcy, now the Solyndra building is for sale. Nice call President Obama, care to speculate more on your failed green energy agenda?
As reported from the Weekly Standard:
Solyndra, the green energy firm that received $528 million in a Department of Energy loan, filed for bankruptcy in September. As Bloomberg reported, “Solyndra, heralded by President Barack Obama as proof that ‘the promise of clean energy isn’t just an article of faith,’ filed for bankruptcy in September, days before the FBI raided its headquarters in Fremont, California.