proof that Obama and his policies are at odds with job creation

Discussion in 'Economy' started by Grampa Murked U, Aug 31, 2011.

  1. Grampa Murked U
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    Grampa Murked U Diamond Member

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    Solar Energy Company Touted By Obama Goes Bankrupt - ABC News

    A half a billion of OUR tax dollars went to this company and now Obama wants us to trust him with more of our tax dollars to create more jobs? This is the 3rd company Obama has directly involved himself in that has gone belly up.
    When will the left learn that govt can't create free market jobs but instead they simply need to get out of the way.

    Snipit

    “Regulatory and policy uncertainties in recent months created significant near-term excess supply and price erosion,” Solyndra president and CEO Brian Harrison said in a statement. “Raising incremental capital in this environment was not possible. This was an unexpected outcome and is most unfortunate.”
     
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  2. Grampa Murked U
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    Grampa Murked U Diamond Member

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    In 2009, the Obama administration fast-tracked Solyndra’s loan application, later awarding it $535 million in guarantees from the stimulus funds.

    The deal later came under scrutiny from independent government watch dogs and members of Congress, which said the administration had bypassed key taxpayer protections in a rush to approve the funds — claims the administration has denied.

    Solyndra and the White House initially estimated that government financing for Solyndra would help create 4,000 jobs.

    The company had received at least $475 million and created just 585 jobs, according to the most recent figures posted on Recovery.gov, which tracks Recovery Act projects.
     
  3. Care4all
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    Care4all Warrior Princess Supporting Member

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    “Raising incremental capital in this environment was not possible. This was an unexpected outcome and is most unfortunate.”

    fyi-that above is that company's excuse...........in the article u linked.
     
  4. westwall
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    westwall USMB Mod Staff Member Gold Supporting Member Supporting Member

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    Solyndra Closes Doors DESPITE 500 MILLION in Taxpayers Money



    Yep, Solyndra, the company that Obama said was the next bee's knee's in green energy technology took our money and ran. They managed to burn through 535 million bucks in a YEAR! They only had 1100 employees or so. I wonder where the rest of the money went?



    Solyndra to Declare Bankruptcy | NBC Bay Area

    merged with existing thread.
     
  5. Grampa Murked U
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    Grampa Murked U Diamond Member

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    No matter the "excuse" nearly a half a billion dollars for 500 jobs?
     
  6. Care4all
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    Care4all Warrior Princess Supporting Member

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    not just jobs, but for NOTHING, since the company declared bankruptcy!
     
  7. AmericanFirst
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    AmericanFirst Gold Member

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    Obamaturd is an expert at wasting OUR money.
     
  8. Grampa Murked U
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    Grampa Murked U Diamond Member

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    Makes one wonder where all the money went. I just wish the govt would get out of the market and let companies stand or fall on their own merits. It's just like the auto bailout to prevent them from going under only for them to end up going bankrupt anyways. It's all such a massive waste of money.
     
  9. hortysir
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    hortysir In Memorial of 47

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    I thought it was only evil republicans that moved jobs overseas?????

    I wonder if the Munich location will shut down???

    Delhaize Demonstrates Environmental Commitment with World
     
  10. Dr.House
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    Dr.House Lives on in syndication!

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    A little more on this:

    The Obama Administration and Solyndra - ABC News

    More at the link....
     

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