This article just popped up: Michigan advanced battery maker Cobasys on edge of bankruptcy
They have "spent the past 20 months trying to sort through a product recall, a lawsuit by German carmaker Daimler AG and a long-simmering disagreement over funding between its corporate parents." They also recently announced a production furlough triggering a big drop in their stock price.
It seems they're in one of those between-a-rock-and-a-hard-place moments. Energy Conversion Devices (parent company) has lower revenue from lower sales, needing to stop production, and the COBASYS venture is having big funding problems from both its corporate parents.
ECD started in Feb 2008 to sell it's part of COBASYS to GM but that fell through. Chevron has been providing some funding but is balking. Now they've retained bankruptcy counsel, reorganization consultants, and are looking for other buyers of the company.
REFERENCE:
http://visforvoltage.org/forum/6535-maximum-kilometres-or-miles#comment-37745
http://en.wikipedia.org/wiki/Cobasys
http://en.wikipedia.org/wiki/Patent_encumbrance_of_large_automotive_NiMH_batteries
ENER saw a stock price drop from $19 to $15 on May 7
May 7: http://finance.yahoo.com/news/Energy-Conversion-Devices-apf-15173120.html?.v=2 "Shares of Energy Conversion Devices Inc. plunged on Thursday after the company said it plans to halt production this quarter amid uncertain near-term demand."
May 11: Energy Conversion profit falls 81% on dim demand http://finance.yahoo.com/news/Energy-Conversion-profit-apf-15201737.html?.v=1
May 11: Energy Conversion Devices Inc. F3Q09 (Qtr End 31/03/09) Earnings Call Transcript http://seekingalpha.com/article/136974-energy-conversion-devices-inc-f3q09-qtr-end-31-03-09-earnings-call-transcript?source=yahoo
May 11: 10-Q quarterly SEC filing http://yahoo.brand.edgar-online.com/DisplayFiling.aspx?dcn=0000032878-09-000027
