A123 Systems Reports More Bad News (Another Obama Stimulooser Success)

Based on this morning's quarterly earnings call, the financial numbers are pointing in the wrong direction for lithium-ion battery maker A123 Systems, a company founded 10 years ago based on technology developed at an MIT lab. A123 posted a net loss of $125 million, $40 million more than it lost in the previous quarter. It only brought in $11 million in revenue, down from $40 million in the previous quarter and $18 million a year ago. Meanwhile, its cash is dwindling, down from $187 million at the end of last year to $113 million at the end of the first...