Second Romney-Backed Solar Company Files For Bankruptcy

[Trajan]

Interesting, if this was such a mechanism, then, you do realize there is a huge difference between what Chu was doing, vis a vis Solyndra and this issue?

There are a number of differences, but I'm not sure to which you are alluding.

so this kerfuffle may be over...nothing?

If your question is "so Romney might not have had any control over the loan?" Then I would say I find that remotely possible, but extremely unlikely. Certainly, news accounts quote Romney as proudly announcing the disbursements as his decision, and they were made public under his watch. I suspect that if Konarka felt confident in December that they would get the loan then it was because the elected but not inaugurated Romney had assured them of his commitment. Otherwise they would have asked that it be announced under the previous governor.

There are a number of differences, but I'm not sure to which you are alluding.

yes, there are a huge number of differences between the venture debt. vehicle and the DOE loan guarantee program of 2005. A Loan guarantee is not alike to a venture debt. loan, in terms of recovery of funds via equity stakes in the co., bankruptcy recovery etc.

Further, the rules were changed after the fact by the Obama admin. so as to protect the private investors in Solyndra, putting any recoup of funds etc. TO them ahead of taxpayers.

In addition there is the aspect of how these funds were approved and why. was Romney told by the states comptroller or state accounting office(s) who oversaw these kinds of deals that it was not a good risk? The GAO did state un-equivocally that the method by which Solyndra was selected was not up to snuff and that the DOE was not using the methods/guidelines set up to ensure wise disbursement of the monies in that prgm.



If Romney's actions ( which are still contested as it stands now) were responsible for what I have described above vis a vis Konarka Technologies as it applied to Solyndra, then shame on him.


If not, then I don't see the issue here.

 

[mudwhistle]

Interesting, if this was such a mechanism, then, you do realize there is a huge difference between what Chu was doing, vis a vis Solyndra and this issue?

There are a number of differences, but I'm not sure to which you are alluding.



If your question is "so Romney might not have had any control over the loan?" Then I would say I find that remotely possible, but extremely unlikely. Certainly, news accounts quote Romney as proudly announcing the disbursements as his decision, and they were made public under his watch. I suspect that if Konarka felt confident in December that they would get the loan then it was because the elected but not inaugurated Romney had assured them of his commitment. Otherwise they would have asked that it be announced under the previous governor.

There are a number of differences, but I'm not sure to which you are alluding.

yes, there are a huge number of differences between the venture debt. vehicle and the DOE loan guarantee program of 2005. A Loan guarantee is not alike to a venture debt. loan, in terms of recovery of funds via equity stakes in the co., bankruptcy recovery etc.

Further, the rules were changed after the fact by the Obama admin. so as to protect the private investors in Solyndra, putting any recoup of funds etc. TO them ahead of taxpayers.

In addition there is the aspect of how these funds were approved and why. was Romney told by the states comptroller or state accounting office(s) who oversaw these kinds of deals that it was not a good risk? The GAO did state un-equivocally that the method by which Solyndra was selected was not up to snuff and that the DOE was not using the methods/guidelines set up to ensure wise disbursement of the monies in that prgm.



If Romney's actions ( which are still contested as it stands now) were responsible for what I have described above vis a vis Konarka Technologies as it applied to Solyndra, then shame on him.


If not, then I don't see the issue here.

Konarka Tech got $1.5 million in government subsidies when they were a viable industry. China is interested in buying them out like they did Evergreen last year.

Solyndra got over $500 million from the US government when everyone in the previous administration and the powers that be said it was a bad investment. Solyndra folded their tents shortly after paying huge bonuses to their managers and jetted out of the place. The FBI grabbed all of their documents to cover their tracks.

I fail to see what Mitt did wrong....since he's washed his hands of the deal long ago. It's stopped being his problem years before Konarka folded. Are we supposed to blame previous administrations for everything the following administrations do from now on?

Okay, then Lincoln.....that rat-bastard, is responsible for Al Sharpton drumming up racial tensions over Trayvan Martin.

 

[hortysir]

So, when Romney was Governor of Mass., where did the money come from? Hint: State (i.e. taxpayers).

I checked both companies and found no mention that the state provided their funding.

You're gonna have to show proof that Mass helped fund them while Romney was Gov.

Holy shit, can't you read? It's one of the OP links. Here it is again...

Mitt Romney's big green flop - BostonHerald.com

From your link:

Romney personally doled out a $1.5 million renewable energy subsidy to the Lowell startup in 2003, shortly after taking office on Beacon Hill.

 

[The T]

I checked both companies and found no mention that the state provided their funding.

You're gonna have to show proof that Mass helped fund them while Romney was Gov.

Holy shit, can't you read? It's one of the OP links. Here it is again...

Mitt Romney's big green flop - BostonHerald.com

From your link:

Romney personally doled out a $1.5 million renewable energy subsidy to the Lowell startup in 2003, shortly after taking office on Beacon Hill.

*

 

[Remodeling Maidiac]

So let's recap. Romney had 2 failures in 4 years who may or may not have paid back the tax payers.

Obama has had 18. All of which took the money and ran in 2 or 3 years?

I'm not thrilled about Romney but I'll take his track record any day.

 

[Lakhota]

So let's recap. Romney had 2 failures in 4 years who may or may not have paid back the tax payers.

Obama has had 18. All of which took the money and ran in 2 or 3 years?

I'm not thrilled about Romney but I'll take his track record any day.

Could you please list those 18 Obama failures or at least provide a link?

 

[Remodeling Maidiac]

Courtesy of Stephanies post.

And its 19 apparently.

Evergreen Solar SpectraWatt Solyndra (received $535 million) Beacon Power (received $43 million) AES’ subsidiary Eastern Energy Nevada Geothermal (received $98.5 million) SunPower (received $1.5 billion) First Solar (received $1.46 billion) Babcock & Brown (an Australian company which received $178 million) Ener1 (subsidiary EnerDel received $118.5 million) Amonix (received 5.9 million) The National Renewable Energy Lab Fisker Automotive Abound Solar (received $400 million) Chevy Volt (taxpayers basically own GM) Solar Trust of America A123 Systems (received $279 million) Willard & Kelsey Solar Group (received $6 million) Johnson Controls (received $299 million) Schneider Electric (received $86 million)

 

[Conservative]

did they get $500 million of our tax money from the administration too?

 

[hortysir]

Courtesy of Stephanies post.

And its 19 apparently.

Evergreen Solar SpectraWatt Solyndra (received $535 million) Beacon Power (received $43 million) AES’ subsidiary Eastern Energy Nevada Geothermal (received $98.5 million) SunPower (received $1.5 billion) First Solar (received $1.46 billion) Babcock & Brown (an Australian company which received $178 million) Ener1 (subsidiary EnerDel received $118.5 million) Amonix (received 5.9 million) The National Renewable Energy Lab Fisker Automotive Abound Solar (received $400 million) Chevy Volt (taxpayers basically own GM) Solar Trust of America A123 Systems (received $279 million) Willard & Kelsey Solar Group (received $6 million) Johnson Controls (received $299 million) Schneider Electric (received $86 million)

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