Another obama green energy failure

[Katzndogz]

Harsanyi: Is this what Obama's glorious green-energy future looks like?

It was one of Barack Obama’s favorite green-energy companies. And green-energy companies, according to the president, are one of the best ways to facilitate economic growth.

Well, yesterday, The Denver Post detailed the criminal investigation of Abound Solar, a defunct solar-panel manufacturer in Colorado that was run on taxpayer “investments,” for securities fraud, consumer fraud and financial misrepresentation.

Abound shuttered its Colorado plant during the summer and filed for bankruptcy, leaving “125 workers without jobs and taxpayers holding the bag for up to $60 million in defaulted loans

 

[syrenn]

Another one failed


how many does this make now....i cant keep up!

 

[Caroljo]

Another one failed


how many does this make now....i cant keep up!

Here's what i found....so far:

Solar Trust of America: FAIL! - Filed Bankruptcy in Oakland, CA, April 3, 2012

Bright Source: FAIL! - Bright Source warned Obama’s Energy Department officials in March 2011 that delays in approving a $1.6 billion U.S. loan guarantee would embarrass the White House and force the solar-energy company to close. Bright Source lost billions of dollars but is getting more money to keep trying. Can you say, “This isn’t working Mr. President?”

Solyndra: FAIL! - Obama gave $500,000,000 (that’s a HALF BILLION!) in taxpayer money to Solyndra who shut its doors and laid off 1100 workers in August 2011 after billions in losses due to failure to make a solar product that works! Barack Obama was not vetted before being elected President and neither was Solyndra before Mr. Obama threw that taxpayer money down the drain of unproven technology.

LSP Energy: FAIL! - LSPEnergy LP filed bankruptcy protection and a sale of its assets in Feb 2012

Energy Conversion Devices: FAIL! – On February 14, 2012 Energy Conversion Devices, Inc. and its subsidiaries filed for bankruptcy

Abound Solar: FAIL! - Abound Solar received a $400 million loan guarantee from Barack Obama then announced in June, 2012 that it would file for bankruptcy. Many of these failed corporations, such as Abound, donated MILLIONS and continue to donate to Barack Obama’s campaign. Can you say, “Democrat Slush Fund”? Yes this is illegal. But Democrats are being protected from being prosecuted, for now.

SunPower: FAIL! - SunPower stopped producing solar cells in 2011 at near bankruptcy then restructured with the help of, get this, oil giant TOTAL, Inc. who owns 60% stake in SunPower. Irony? The company is still struggling.

Beacon Power: FAIL! – Beacon Power Corp filed for bankruptcy protection in October, 2011 just a year after Obama approved a $43 million Government loan guarantee. They remain barely in business, still struggling to make energy that makes sense or that works at all.

Ecotality: FAIL! - ECOtality, a San Francisco green-tech company that never earned any money and remains on the verge of bankruptcy after receiving roughly $115 million in two loan guarantees from President Obama, who wants to do some more of this kind of Democrat Slush Fund Guarantees after he is elected to a 2nd term.

A123 Solar: FAIL! - A123 Solar received $279 million from taxpayers thanks to President Obama’s Department of Energy loan guarantees even after the Solyndra bankruptcy and is getting another $500M from Obama after a loss of $400M.

UniSolar: FAIL! - Uni-Solar filed for Ch 11 bankruptcy in June 20, 2012 after laying off hundreds of workers. UniSolar received even more Obama money after showing now progress, no profits and is still failing… yet they still remain in business with Obama’s help.

Azure Dynamics: FAIL! - Azure Dynamics filed for bankruptcy in June , 2012 wasting millions in Obama “Stimulus” money and received abatement on taxes owed and and several tax credits. Azure Dynamics LLC filed for bankruptcy protection in Canada and the US. Azure laid off 120 of its 160 employees in Oak Park; Boston; Vancouver, British Columbia; and the UK.

Evergreen Solar: FAIL! - Evergreen Solar received $527 Million in Taxpayer money from Obama and filed bankruptcy in late 2011. Evergreen, which closed its taxpayer-supported Devens factory in March, 2011 cut more than 1800 jobs. Evergreen’s $450 million factory, turned out to be a colossal “waste” of taxpayer money.

Ener1: FAIL! Ener1 Inc. received a $118 million U.S. Energy Department grant from President Obama to make electric-car batteries but filed for bankruptcy protection January 2012 after defaulting on bond debt.

List of Failed Obama Green Energy & Solar Companies in the Billions

 

[Katzndogz]

It makes a total of 34, so far.

The Complete List of Obama's Taxpayer-Backed Green Energy Failures

 

[eflatminor]

...leaving “125 workers without jobs and taxpayers holding the bag for up to $60 million in defaulted loans

Central planners attempting to pick and choose winners and losers in what is supposed to be a free market. It NEVER works in the long run.

 

[TruthSeeker56]

Why would Obama care? It wasn't HIS money that was invested in these "green energy" scams.

 

[daveman]

...leaving “125 workers without jobs and taxpayers holding the bag for up to $60 million in defaulted loans

Central planners attempting to pick and choose winners and losers in what is supposed to be a free market. It NEVER works in the long run.

It works half the time:

They always pick the losers.

 

[daveman]

Why would Obama care? It wasn't HIS money that was invested in these "green energy" scams.

Didn't you know the purpose of the US Treasury is to repay party donors and Obama supporters and Dem special interest groups?

The Constitutional Scholar-in-Chief has decreed it. So mote it be.

 

[TruthSeeker56]

...leaving “125 workers without jobs and taxpayers holding the bag for up to $60 million in defaulted loans

Central planners attempting to pick and choose winners and losers in what is supposed to be a free market. It NEVER works in the long run.

It works half the time:

They always pick the losers.

Even a broken clock is right, twice a day.

 

[skye]

Obama must think money grows on trees! trillions of American tax dollars wasted .... Please DO NOT VOTE FOR HIM!

 

[whitehall]

Abound was in trouble from the git go but it still received a whopping 400 million loan guarantee from the federal government. The crooks ate up 68 million before they closed the doors and fled like rats.

 

[flacaltenn]

The back story on this one gets better and better..

Abound Solar target of criminal investigation by Colorado District Attorney - Denver green energy | Examiner.com

Abound received a loan guarantee from the Energy Department under a program begun in the Bush Administration. It is estimated that taxpayers will lose between $40 million and $60 million after liquidation. The company drew $70 million of its $400 million loan guarantee before the DOE pulled the plug for the company’s failure to “meet milestones.”

The District Attorney’s office says no criminal charges have been filed, but it confirmed that an investigation is underway. The DA says it will not release more information at this time due to the on-going investigation.

The District Attorney’s office confirmed in a news release that the company is being investigated for securities fraud, consumer fraud, and bank fraud.

The DA’s news release said that the securities-fraud investigation stems from allegations that "officials at Abound Solar knew products the company was selling were defective, and then asked investors to invest in the company without telling them about the defective products.”

Similarly, the consumer-fraud allegation is that Abound knowingly sold defective panels to customers.

The third subject of investigation is that Abound allegedly misled financial institutions when the company was seeking loans.

But of course --- the scoundrels blamed their failure on cheap Chinese competition.. When you're selling crap -- COST is not your problem...

 

[Nova78]

Obama should be charged with failure to protect American citizens from himself,he should be in prison...

 

[flacaltenn]

Obama should be charged with failure to protect American citizens from himself,he should be in prison...

See the OccupyWallStreet cretans and the Obama Revolution thought this Wall Street gig was easy money.. Those fatcats didn't earn those big salaries managing money and selecting investments.. He honestly thought you CREATED winners simply by throwing money at them.. Isn't that the way Venture capital works? Creating winners just because you have a lot of money to spend?

It's an expensive education to let anti-market anti capitalist leftists experiment on the job..

 

[polarbear]

Obama should be charged with failure to protect American citizens from himself,he should be in prison...

See the OccupyWallStreet cretans and the Obama Revolution thought this Wall Street gig was easy money.. Those fatcats didn't earn those big salaries managing money and selecting investments.. He honestly thought you CREATED winners simply by throwing money at them.. Isn't that the way Venture capital works? Creating winners just because you have a lot of money to spend?

It's an expensive education to let anti-market anti capitalist leftists experiment on the job..

My wife and I were at a band member meeting today, which was supposedly only for members of the Long Plain First Nations Indian band # 6. But it was cram packed by hate America & free enterprise left wing radical groups who want us to vote against allowing the "Bipole 3" power lines through our land. "Bipole 1" and 2 has been exporting our surplus power to the U.S. since the start of the Nelson River project.

Most of these weren`t even Canadians, but from the same San Francisco based Tides Foundation, the Rockefeller foundation and Green Peace activists that are trying to block the Keystone Alberta Oil pipeline and the Natural Gas pipelines on the Canadian side which could supply 100% of America`s energy needs for the next 200 years, with what we explored so far... and there is lots more. We also have enough surplus electric power to cover our own needs + the entire U.S. with or without the wind & solar farms Obama wants to build
[ame="http://www.youtube.com/watch?v=JFqIS8hDV0o&list=UUvj7dbOY14kt_MFIR1Y1iwA&index=31&feature=plcp"]Northern pipelines.wmv - YouTube[/ame]

While south of the border Obama attempts to ridicule Mitt Romney when he pressed Obama to explain why he has been blocking these pipelines with "we already got enough pipelines to wrap around the earth".

It`s one thing watching Democrats strangling America`s energy supply, but when they are coming across the border and intruding into our communities like today the very community which is my home, then my trigger finger starts to twitch.
Anyway the vote if "Bipole 3" can run through Long Plain First Nations is on November the 12th and it will be a resounding Yes. After all we get Royalties and because of deals like this most of us get free electrical power. I haven`t had to pay a hydro bill ever since I live here.
The only one who was against it from the start, San Francisco`s Tide Foundation and Green Peace`s local "Indian" darling is the ex-chief of Dakota Tipi, Dennis Pashe.But he could not attend the meeting today because he thought it wiser to leave Canada after we found out how many million$ he embezzled. He just finished bashing Canada and the U.S as racist countries on Iranian State television
Terry Nelson, Dennis Pashe Appear On Iran-Owned TV Network To Criticize Canada's Treatment Of Aboriginals
and is telling the U.N. human rights commission about "voter suppression" "systemic discrimination" in Canada and the U.S. and all kinds of buzz word crimes conservatives have been accused of as he learned no doubt from the U.S. "main stream" news media
Here is where Dennis Pashe was kicked out...many of the Dakota Tipi band members are related to my wife Janice.


But compared to Terry Nelson, Dennis was just a "small fry". Terry Nelson was the Bernie Madoff of the Canadian Native community.
Sorry I don`t have a video of today`s meeting. No cameras or other recording devices were allowed. There were too many lawyers who did not want to have their picture taken. But I`m trying to conceal a smaller camera the next time these bastards come here

 

[flacaltenn]

The only one who was against it from the start, San Francisco`s Tide Foundation and Green Peace`s local "Indian" darling is the ex-chief of Dakota Tipi, Dennis Pashe.But he could not attend the meeting today because he thought it wiser to leave Canada after we found out how many million$ he embezzled. He just finished bashing Canada and the U.S as racist countries on Iranian State television

Wow.. This guy ought to need a VISA to come back into your community after doing all that.. Don't you have sovereignty on expelling people?