Obama Solar Panel Company: Bankrupt

[Wiseacre]

Okay, so we gave them 58 million in gov't subsidies, and they're 485 million in hock. But the Mass governor thinks it was a good call, and they hope to get 4 million back. Liberal governance at it's best.

 

[MaggieMae]

"The Obama touch continues: Solar Panel company Obama pimped filing bankruptcy."

1. "Obama’s pet green jobs scheme continues to cost millions and the job loss continues. This is what happens when the government sticks its nose into the free market. Evergreen Solar took Obama’s stimulus money, only to send jobs overseas to China and now is filing for bankruptcy.

2. Wonder how the White House will spin this?

3. From The Boston Herald:
Evergreen Solar Inc., the Massachusetts clean-energy company that received millions in state subsidies from the Patrick administration for an ill-fated Bay State factory, has filed for bankruptcy, listing $485.6 million in debt.

They also receive Obama stimulus money. All the taxpayers got was the bill.

4. Evergreen and the White House claimed it would hire 90 to 100 people with the stimulus money. Instead we ended up with a -900 job creation deficit. Sound familiar?
The Obama touch continues: Solar Panel company Obama pimped filing bankruptcy | Scotty Starnes's Blog


So, what have we learned.
a. Obama knows nothing re:business

b. 'Green Energy' as a support for the economy is a fraud.

c. In the bigger context, 'crony capitalism,' in which government picks - or attempts to pick- winners and losers, is a failed endeavor.
Pretty much the political epitaph of Barack Obama.

d. Another repudiation of Obama, Green Economy, and socialism.


Still waitin' for that apology, Lefties.

Wrong. It means private investors are still MIA. No wonder bankruptcy was, er, in the wind.

So what do YOU suggest this country get involved in ahead of China and other countries who are one-jump ahead of us in all other areas of manufacturing and technologies that promise jobs of the future? Oh wait, I know. Housing construction

 

[MaggieMae]

Just like the high speed rail BS, throwing billions of good money after bad. And Obama wouldn't allow it on the table for discussion for the debt ceiling negotiations. If it's not economically viable, it's a waste of money that we got to spare.

What an excellent example of the 'government knows best' attitude: high speed rail!
The billion dollar boondoggle!

I'll send you the rep in a moment!

Yeah, kinda like the Texas super conductor, eh?

 

[MaggieMae]

Some dreams are better left unrealized, anyhow. Heritage’s Ronald Utt details some serious problems with high-speed rail, including high cost, the need for perpetual government subsidies, and wasted money from lack of ridership. Add that to false claims that the projects create jobs and empty promises that the trains will help the environment by getting cars off the road, and America has plenty of reasons not to get on board.

California provides a perfect example. Greg Pollowitz at National Review Online writes that the day after the federal government granted the Golden State $300 million for high-speed rail, the independent agency overseeing the state’s high-speed infrastructure spending shot down the project, calling for it to be put on hold due to questions over funding and project management. The rail plan has been estimated to cost $43 billion—and to date, the state has only $6.3 billion in place ($3.5 billion of that is federal dollars). The Orange County Register reports that those costs are going even higher, and an independent estimate pegs it at $81.4 billion.Obama’s High-Speed Spending on Slow-Speed Rail

There's your biggest problem, PC. If right-wing publications are ALL you ever read, of course you're going to agree with everything they say.

Here's a heads up for ya: New technology, new infrastruction COSTS MONEY. d'OH... And so does gasoline for the tens of millions of vehicles travelling on our broken highway system.

 

[MaggieMae]

Hey yuou are talking CA here.
CA has always been like a bowl of Granola, what is not fruit and flakes is nuts.

Isn't it intriguing that suddenly the hue and cry for allowing states to do everything goes right out the window as soon as one fucks up...

 

[MaggieMae]

Want a fast way to blow some taxpayer dollars? Buy a ticket on President Barack Obama’s high-speed spending trains.

High-speed rail is one of the president’s pie-in-the-sky green energy dreams, which would do little to relieve Americans who are suffering the effects of high gasoline prices.


Obama’s High-Speed Spending on Slow-Speed Rail

California's 'commission' on high speed rail just published their rework of the costs, and yes its ugly.

its a sink hole, but they will probably go on with it anyway.

so 10 years there after it begins operating, where in it becomes the Amtrak of California, consuming cash flow from the cali treasury to remain in operation, the very same people will scream for higher taxes to offset that big suck and will throw up their hands and scream how did it come to this and those that don't ant to pay are cheap bastards ?

Subsidized at thousands of dollars per ticket...unable to respond to changing patterns of habitation....iconic of Liberal policy....

Amen.

But it's okay to subsidize billions for Big Oil, the biggest profiteers on the globe. Got it and amen.

 

[MaggieMae]

Want a fast way to blow some taxpayer dollars? Buy a ticket on President Barack Obama’s high-speed spending trains.

High-speed rail is one of the president’s pie-in-the-sky green energy dreams, which would do little to relieve Americans who are suffering the effects of high gasoline prices.


Obama’s High-Speed Spending on Slow-Speed Rail

California's 'commission' on high speed rail just published their rework of the costs, and yes its ugly.

its a sink hole, but they will probably go on with it anyway.

so 10 years there after it begins operating, where in it becomes the Amtrak of California, consuming cash flow from the cali treasury to remain in operation, the very same people will scream for higher taxes to offset that big suck and will throw up their hands and scream how did it come to this and those that don't ant to pay are cheap bastards ?

we got the cost of the sink hole rolled into the project price


BOSTON -- State transportation officials say a massive 4-foot-deep hole has opened up about 9 feet below the road surface in a Big Dig tunnel in Boston, but poses no danger to drivers.
The roughly 190-foot-long sinkhole that has filled with water was caused by settling of the clay around the tunnel.

Read more: Sinkhole Opens Beneath Big Dig Tunnel - Boston News Story - WCVB Boston

as long as they say it poses no danger.....

Since they don't yet know what caused the hole, it could be just about anything, such as antiquated sewer system pipelines leaking water where at one time it was prevented from going. The water and sewer systems incredibly still supporting some of the biggest metropolises are on the brink of exploding due to corrosion which WILL cause catastrophic service disruptions and cave-ins. But hey, let's not spend any money at all on upgrading our 75-year old underground systems. What a waste of taxpayer money.

 

[iamwhatiseem]

On August 15, 2011, the company filed for Chapter 11 reorganization. Under the reorganization, the company plans to sell its assets, including its technology String Ribbon.

many, many compnaies have done this and are still operating.

Hey dolt...not many that have received $100's millions in totally free money from the government and was highlighted by both the Vice President and the President of the United States as an "example" of successful green companies.

 

[PoliticalChic]

That should read, "Deval Solar Panel Co. Bankrupt"

honesty isn't way up there on PC's priority list.

Not sure what your problem is, Smel, but it is clear to anyone who can read
that Evergreen Solar was a recipient of stimulus funds...

"When Evergreen Solar announced it was filing bankruptcy this week, the news sparked a flurry of stories pointing out how the “green” solar panel company had received money from the federal stimulus.

The Massachusetts-based company was held up as another example of wasted taxpayers’ dollars under the American Recovery and Reinvestment Act (ARRA).

But Evergreen Solar may be a better example of just how complicated and difficult it can be to track the massive $821 billion federal stimulus.

Because despite the White House and Massachusetts Gov. Deval Patrick both citing Evergreen Solar as receiving stimulus money, the government’s website that tracks ARRA spending could find no evidence the solar panel company did indeed get that money."

Bankrupt Solar Company Stimulus Money Missing From Federal Records [Michigan Capitol Confidential]

So....you have a problem with the White House, Smel?


"The White House sent out an April 22, 2009, communication claiming the Recovery Act had success in creating jobs. The White House stated that because of the stimulus bill and new contracts, green energy companies were looking to hire. The White House then cited Evergreen Solar hoping to hire as many as 100 people.

The state of Massachusetts put out a press release citing Evergreen Solar’s involvement with a project funded by the stimulus."Ibid.


BTW....no typo in here, either.

 

[PoliticalChic]

Some dreams are better left unrealized, anyhow. Heritage’s Ronald Utt details some serious problems with high-speed rail, including high cost, the need for perpetual government subsidies, and wasted money from lack of ridership. Add that to false claims that the projects create jobs and empty promises that the trains will help the environment by getting cars off the road, and America has plenty of reasons not to get on board.

California provides a perfect example. Greg Pollowitz at National Review Online writes that the day after the federal government granted the Golden State $300 million for high-speed rail, the independent agency overseeing the state’s high-speed infrastructure spending shot down the project, calling for it to be put on hold due to questions over funding and project management. The rail plan has been estimated to cost $43 billion—and to date, the state has only $6.3 billion in place ($3.5 billion of that is federal dollars). The Orange County Register reports that those costs are going even higher, and an independent estimate pegs it at $81.4 billion.Obama’s High-Speed Spending on Slow-Speed Rail

There's your biggest problem, PC. If right-wing publications are ALL you ever read, of course you're going to agree with everything they say.

Here's a heads up for ya: New technology, new infrastruction COSTS MONEY. d'OH... And so does gasoline for the tens of millions of vehicles travelling on our broken highway system.

Let's review the OP:

1. Obama supports throwing taxpayer money into 'green energy.'

2. White House proudly pointed to funds given to Evergreen Solar...

3. ...and claimed it would produce jobs. (Who knew those would be in China)

4. Evergreen delcared bankrupcy. Another win for Obama? Hardly.

Find any errors in the above?
Any?
No?
Good.

There's your biggest problem, Mags. If you're going to leap to support the unsupportable like a dalmatian answering the firebell, you'll continue to look as much a windbag as Obama.

 

[PoliticalChic]

California's 'commission' on high speed rail just published their rework of the costs, and yes its ugly.

its a sink hole, but they will probably go on with it anyway.

so 10 years there after it begins operating, where in it becomes the Amtrak of California, consuming cash flow from the cali treasury to remain in operation, the very same people will scream for higher taxes to offset that big suck and will throw up their hands and scream how did it come to this and those that don't ant to pay are cheap bastards ?

Subsidized at thousands of dollars per ticket...unable to respond to changing patterns of habitation....iconic of Liberal policy....

Amen.

But it's okay to subsidize billions for Big Oil, the biggest profiteers on the globe. Got it and amen.

Wow! You've got those bumper-stickers down pat!


But they really don't make you appear very bright:

The non-thinking segment of the public has been conditioned to hate the oil industry. Very few realize the extent to which they are subsidized by this industry. “According to the [Exxon] company's income statement, the amount of taxes it paid in 2008 was 2.5 times as much as its net profit. The $45.2 billion profit figure makes a snappy headline, but the $116.2 billion in taxes that it paid is relegated to a footnote—if that. Exxon's tax bill breaks down like this: income taxes, $36.5 billion; sales-based taxes, $34.5 billion; "all other" taxes, $45.2 billion.” Exxon, Big Oil Profits Evil Only Until You Weigh Their Tax Bills - US News and World Report

There are about 138 million tax filers in the United States of America, about half of whom pay any federal income tax. http://wiki.answers.com/Q/How_many_tax_payers_are_in_America That means if we divide Exxon’s taxes by the 69 million who pay taxes, each is subsidized by $1,681. Still hate 'Big Oil'?

 

[MaggieMae]

On August 15, 2011, the company filed for Chapter 11 reorganization. Under the reorganization, the company plans to sell its assets, including its technology String Ribbon.

many, many compnaies have done this and are still operating.

Hey dolt...not many that have received $100's millions in totally free money from the government and was highlighted by both the Vice President and the President of the United States as an "example" of successful green companies.

Shit happens. The taxpayers of Arlington, TX weren't all that happy they had to pony up for GWB's new stadium to host the Texas Rangers either.

Boooooooooooooooooooooooooooooooooooooooosh........

[If you all weren't such fucking hypocrites, Booooooooooosh wouldn't need to be mentioned.]

 

[MaggieMae]

That should read, "Deval Solar Panel Co. Bankrupt"

honesty isn't way up there on PC's priority list.

Not sure what your problem is, Smel, but it is clear to anyone who can read
that Evergreen Solar was a recipient of stimulus funds...

"When Evergreen Solar announced it was filing bankruptcy this week, the news sparked a flurry of stories pointing out how the “green” solar panel company had received money from the federal stimulus.

The Massachusetts-based company was held up as another example of wasted taxpayers’ dollars under the American Recovery and Reinvestment Act (ARRA).

But Evergreen Solar may be a better example of just how complicated and difficult it can be to track the massive $821 billion federal stimulus.

Because despite the White House and Massachusetts Gov. Deval Patrick both citing Evergreen Solar as receiving stimulus money, the government’s website that tracks ARRA spending could find no evidence the solar panel company did indeed get that money."

Bankrupt Solar Company Stimulus Money Missing From Federal Records [Michigan Capitol Confidential]

So....you have a problem with the White House, Smel?


"The White House sent out an April 22, 2009, communication claiming the Recovery Act had success in creating jobs. The White House stated that because of the stimulus bill and new contracts, green energy companies were looking to hire. The White House then cited Evergreen Solar hoping to hire as many as 100 people.

The state of Massachusetts put out a press release citing Evergreen Solar’s involvement with a project funded by the stimulus."Ibid.


BTW....no typo in here, either.

So what if they got stimulus money? Do you think they set out intending to go bankrupt?

 

[MaggieMae]

Some dreams are better left unrealized, anyhow. Heritage’s Ronald Utt details some serious problems with high-speed rail, including high cost, the need for perpetual government subsidies, and wasted money from lack of ridership. Add that to false claims that the projects create jobs and empty promises that the trains will help the environment by getting cars off the road, and America has plenty of reasons not to get on board.

California provides a perfect example. Greg Pollowitz at National Review Online writes that the day after the federal government granted the Golden State $300 million for high-speed rail, the independent agency overseeing the state’s high-speed infrastructure spending shot down the project, calling for it to be put on hold due to questions over funding and project management. The rail plan has been estimated to cost $43 billion—and to date, the state has only $6.3 billion in place ($3.5 billion of that is federal dollars). The Orange County Register reports that those costs are going even higher, and an independent estimate pegs it at $81.4 billion.Obama’s High-Speed Spending on Slow-Speed Rail

There's your biggest problem, PC. If right-wing publications are ALL you ever read, of course you're going to agree with everything they say.

Here's a heads up for ya: New technology, new infrastruction COSTS MONEY. d'OH... And so does gasoline for the tens of millions of vehicles travelling on our broken highway system.

Let's review the OP:

1. Obama supports throwing taxpayer money into 'green energy.'

2. White House proudly pointed to funds given to Evergreen Solar...

3. ...and claimed it would produce jobs. (Who knew those would be in China)

4. Evergreen delcared bankrupcy. Another win for Obama? Hardly.

Find any errors in the above?
Any?
No?
Good.

There's your biggest problem, Mags. If you're going to leap to support the unsupportable like a dalmatian answering the firebell, you'll continue to look as much a windbag as Obama.

And how many other "government" projects (pre-Obama) wound up providing more jobs for overseas workers? Does your extensive "research" happen to direct you to any of those? You always act as though something you can slap around Obama for, OMG, never happened before in history! Bull. That's why you're such a blatant hypocrite. According to you, everything (EVERYTHING!!!!!!!!) was just purrrrrrrfect until a Democrat became president during the roughest economic time since the Great Depression.

 

[California Girl]

OK, which one of you evil Republicans bankrupted Obama's Golden Company? Hmmm? Don't make me ask again. I will find out. Either the individual owns up or you can all stay right here until one of you does. Am I making myself clear?

 

[MaggieMae]

Subsidized at thousands of dollars per ticket...unable to respond to changing patterns of habitation....iconic of Liberal policy....

Amen.

But it's okay to subsidize billions for Big Oil, the biggest profiteers on the globe. Got it and amen.

Wow! You've got those bumper-stickers down pat!


But they really don't make you appear very bright:

The non-thinking segment of the public has been conditioned to hate the oil industry. Very few realize the extent to which they are subsidized by this industry. “According to the [Exxon] company's income statement, the amount of taxes it paid in 2008 was 2.5 times as much as its net profit. The $45.2 billion profit figure makes a snappy headline, but the $116.2 billion in taxes that it paid is relegated to a footnote—if that. Exxon's tax bill breaks down like this: income taxes, $36.5 billion; sales-based taxes, $34.5 billion; "all other" taxes, $45.2 billion.” Exxon, Big Oil Profits Evil Only Until You Weigh Their Tax Bills - US News and World Report

There are about 138 million tax filers in the United States of America, about half of whom pay any federal income tax. How many tax payers are in America That means if we divide Exxon’s taxes by the 69 million who pay taxes, each is subsidized by $1,681. Still hate 'Big Oil'?

Oh yes, I feel their pain. Companies as large as Exxon Mobil obviously have top-notch lawyers and CPAs scanning tax laws for every available loophole they can find. Are you KIDDING ME???

 

[MaggieMae]

OK, which one of you evil Republicans bankrupted Obama's Golden Company? Hmmm? Don't make me ask again. I will find out. Either the individual owns up or you can all stay right here until one of you does. Am I making myself clear?

Well, since a "corporation" is now a "person," I'd say the corporations who continue to refuse to invest in alternative energy didn't give a shit whether it went bankrupt or not. Without private investors (in addition to seed money from the stimulus), obviously it was going to go belly up. So I don't know if Mr. Corporation was a Republican or a Democrat, or both, but corporations are no longer willing to take risks in new American ventures as long as they can continue to line their pockets by manipulating their current holdings or by cashing in on cheap foreign investments.

 

[Trajan]

"The Obama touch continues: Solar Panel company Obama pimped filing bankruptcy."

1. "Obama’s pet green jobs scheme continues to cost millions and the job loss continues. This is what happens when the government sticks its nose into the free market. Evergreen Solar took Obama’s stimulus money, only to send jobs overseas to China and now is filing for bankruptcy.

2. Wonder how the White House will spin this?

3. From The Boston Herald:
Evergreen Solar Inc., the Massachusetts clean-energy company that received millions in state subsidies from the Patrick administration for an ill-fated Bay State factory, has filed for bankruptcy, listing $485.6 million in debt.

They also receive Obama stimulus money. All the taxpayers got was the bill.

4. Evergreen and the White House claimed it would hire 90 to 100 people with the stimulus money. Instead we ended up with a -900 job creation deficit. Sound familiar?
The Obama touch continues: Solar Panel company Obama pimped filing bankruptcy | Scotty Starnes's Blog


So, what have we learned.
a. Obama knows nothing re:business

b. 'Green Energy' as a support for the economy is a fraud.

c. In the bigger context, 'crony capitalism,' in which government picks - or attempts to pick- winners and losers, is a failed endeavor.
Pretty much the political epitaph of Barack Obama.

d. Another repudiation of Obama, Green Economy, and socialism.


Still waitin' for that apology, Lefties.

Wrong. It means private investors are still MIA. No wonder bankruptcy was, er, in the wind.

So what do YOU suggest this country get involved in ahead of China and other countries who are one-jump ahead of us in all other areas of manufacturing and technologies that promise jobs of the future? Oh wait, I know. Housing construction

private investors ala venture cap firms have declared a moratorium of sorts since Solyndra ( funded to the tune of 500 million by us) announced they are closing one of their 2 plants and are bleeding money from every orifice, but gov. goes where angles fear to tread apparently....

 

[boedicca]

Subsidized at thousands of dollars per ticket...unable to respond to changing patterns of habitation....iconic of Liberal policy....

Amen.

But it's okay to subsidize billions for Big Oil, the biggest profiteers on the globe. Got it and amen.

Wow! You've got those bumper-stickers down pat!


But they really don't make you appear very bright:

The non-thinking segment of the public has been conditioned to hate the oil industry. Very few realize the extent to which they are subsidized by this industry. “According to the [Exxon] company's income statement, the amount of taxes it paid in 2008 was 2.5 times as much as its net profit. The $45.2 billion profit figure makes a snappy headline, but the $116.2 billion in taxes that it paid is relegated to a footnote—if that. Exxon's tax bill breaks down like this: income taxes, $36.5 billion; sales-based taxes, $34.5 billion; "all other" taxes, $45.2 billion.” Exxon, Big Oil Profits Evil Only Until You Weigh Their Tax Bills - US News and World Report

There are about 138 million tax filers in the United States of America, about half of whom pay any federal income tax. How many tax payers are in America That means if we divide Exxon’s taxes by the 69 million who pay taxes, each is subsidized by $1,681. Still hate 'Big Oil'?

Not to mention the large portion of the workforce whose jobs depend upon the oil industry.

 

[boedicca]

But it's okay to subsidize billions for Big Oil, the biggest profiteers on the globe. Got it and amen.

Wow! You've got those bumper-stickers down pat!


But they really don't make you appear very bright:

The non-thinking segment of the public has been conditioned to hate the oil industry. Very few realize the extent to which they are subsidized by this industry. “According to the [Exxon] company's income statement, the amount of taxes it paid in 2008 was 2.5 times as much as its net profit. The $45.2 billion profit figure makes a snappy headline, but the $116.2 billion in taxes that it paid is relegated to a footnote—if that. Exxon's tax bill breaks down like this: income taxes, $36.5 billion; sales-based taxes, $34.5 billion; "all other" taxes, $45.2 billion.” Exxon, Big Oil Profits Evil Only Until You Weigh Their Tax Bills - US News and World Report

There are about 138 million tax filers in the United States of America, about half of whom pay any federal income tax. How many tax payers are in America That means if we divide Exxon’s taxes by the 69 million who pay taxes, each is subsidized by $1,681. Still hate 'Big Oil'?

Oh yes, I feel their pain. Companies as large as Exxon Mobil obviously have top-notch lawyers and CPAs scanning tax laws for every available loophole they can find. Are you KIDDING ME???

Just curious. Do you use oil?