Solar company Obama touted--& loaned 535 MILLION guaranteed loan announces bankruptcy

[oreo]

China and everyone else subsidizes their green industry, but pubs will only help Big Oil. Brilliant!! Morons...

Uh if you don't consider General Electric making 18.4 BILLION dollars last year and not paying a penny in federal taxes as a non-subsidy--let us know--

This is Obama's "green energy investment--aka subsidy"--who's CEO Jeffrey Immelt is Obama's job czar-- who also just sent some of his jobs overseas to China.

http://boardreader.com/thread/Obamas_job_czar_CEO_of_GE_made_18_4_BILL_az57X1fc5.html

Our Federal Government has this habit --regardless of political affiliation--of becoming partners in the energy industry by using subsidies. This is known as corporate welfare.

 

[Wicked Jester]

Networks Barely Criticize Obama's Disastrous 'Green Jobs' Policies

 

[CaféAuLait]

More:

'Connected' Energy Firm Got Lowest Interest Rate on Government Loan

A politically connected solar company that pocketed a half billion dollar government loan, only to shut its doors, fire workers and file for bankruptcy, benefited from a series of breaks in securing the federal funds -- including an interest rate lower than other green energy projects, iWatch News and ABC News found.

Solyndra Got Lowest Interest Rate - ABC News

 

[Wicked Jester]

More:

'Connected' Energy Firm Got Lowest Interest Rate on Government Loan

A politically connected solar company that pocketed a half billion dollar government loan, only to shut its doors, fire workers and file for bankruptcy, benefited from a series of breaks in securing the federal funds -- including an interest rate lower than other green energy projects, iWatch News and ABC News found.

Solyndra Got Lowest Interest Rate - ABC News

Obama is no doubt knee deep in this BS.......It needs to be fully investigated.

Obviously, Holder will shitcan it, but Darrell Issa won't.

 

[CaféAuLait]

More:

'Connected' Energy Firm Got Lowest Interest Rate on Government Loan

A politically connected solar company that pocketed a half billion dollar government loan, only to shut its doors, fire workers and file for bankruptcy, benefited from a series of breaks in securing the federal funds -- including an interest rate lower than other green energy projects, iWatch News and ABC News found.

Solyndra Got Lowest Interest Rate - ABC News

Obama is no doubt knee deep in this BS.......It needs to be fully investigated.

Obviously, Holder will shitcan it, but Darrell Issa won't.

Dun & Bradstreet assigned the company's credit appraisal as "fair" and they pushed this through against warnings.

 

[Wicked Jester]

More:

'Connected' Energy Firm Got Lowest Interest Rate on Government Loan




Solyndra Got Lowest Interest Rate - ABC News

Obama is no doubt knee deep in this BS.......It needs to be fully investigated.

Obviously, Holder will shitcan it, but Darrell Issa won't.

Dun & Bradstreet assigned the company's credit appraisal as "fair" and they pushed this through against warnings.

It's left wing cronyism through and through, that just cost taxpayers over a half billion dollars, and it no doubt will lead straight to the oval office.

 

[thereisnospoon]

Update: Solyndra announces it plans to file Chapter 11 bankruptcy, is suspending operations and seeks a reorganization. Click here for the company's full statement.

Solyndra, a major manufacturer of solar technology in Fremont, has shut its doors, according to employees at the campus.

"I was told by a security guard to get my [stuff] and leave," one employee said. The company employs a little more than 1,000 employees worldwide, according to its website.

Shortly after it opened a massive $700 million facility, it canceled plans for a public stock offering earlier this year and warned it would be in significant trouble if federal loan guarantees did not go through.

The company has said it will make a statement at 9am California time, though it's not clear what that statement will be. An NBC Bay Area photographer on the scene reports security guards are not letting visitors on campus. He says "people are standing around in disbelief." The employees have been given yellow envelopes with instructions on how to get their last checks.

Solyndra was touted by the Obama administration as a prime example of how green technology could deliver jobs. The President visited the facility in May of last year and said "it is just a testament to American ingenuity and dynamism and the fact that we continue to have the best universities in the world, the best technology in the world, and most importantly the best workers in the world. And you guys all represent that. "

The federal government offered $535 million in low cost loan guarantees from the Department of Energy. NBC Bay Area has contacted the White House asking for a statement.

Some Republicans have been very critical of the loans. "I am concerned that the DOE is providing loans and loan guarantees to firms that aren't capable of competing in the global market, even with government subsidies" Florida Congressman Cliff Stearns told the New York Times.

So there goes another 535 MILLION taxpayer dollars down the toilet.

One Big Ass Mistake America

View attachment 15070

2012 cannot come soon enough.

Says it offered them the loan. Where does it say they took it?

This is not the only so called green energy company to go belly up.
Many of these firms were subsidized by taxpayer dollars.
Solyndra Bankruptcy Reveals Dark Clouds in Solar Power Industry - NYTimes.com

Obama-backed energy firm goes bankrupt, even with stimulus - Washington Times

Burning Taxpayers' Money: Solar Company Declares Bankruptcy


That's a large chunk of money the taxpayers will never see a return on investment.

Bottom line....These new energy technologies are in the infancy of their existence. Obama at the behest of his environmental supporters tried in vain to ram this stuff through well before it's time.

 

[LibocalypseNow]

We'll probably have to wait til the Republicans take the Congress & White House back for this to get investigated. There is no way Holder is going to touch this. A Special Prosecutor would have to be appointed. I have no doubt this company's founders were all big Obama Campaign donors. This awful theft does need to be investigated.

 

[thereisnospoon]

China and everyone else subsidizes their green industry, but pubs will only help Big Oil. Brilliant!! Morons...

I think Hydrogen is the answer to this.
1# It is the number one gas in the fucking universe. Meaning it will NEVER run out.
2# It is clean and green as its bi-product is water
3# It makes the most sense as a green energy source

I think within the next decade that it can break obrit (make it within the market)without subsides. Because there is unlimited amounts of it and there is a pretty hard push towards a green economy. If it can become economical then watch it past oil.

Wind and solar can't beat it. The whole question is when will something become workable within the market...Right now I'd say Hydrogen.

Top Gear LOVES Honda's Hydrogen Car, But... : TreeHugger
This car is pretty cool.
[ame=http://www.youtube.com/watch?v=4AUurBnLbJw]Top Gear - Honda Clarity (Runs on Hydrogen and exhausts H2o) - YouTube[/ame]
The cons.....Hydrogen filling stations in California( the only state they can be found) are sparse. Next, Hydrogen fuel costs almost as much as gasoline. That's outrageous!!!
I have maintained that there are two fuels which are plentiful and readily available which can be used instead of a fossil fuel based product. Those are hydrogen and Methanol...The latter, was being used in the old USAC and Indy Car series..
One of the main reasons it is no longer used is Methanol burns clear with no or very little visible flame. It was difficult for fire crews to know where to extinguish a car or pit fire.

 

[saveliberty]

Did you notice the owner sold out last year? More mystery to the mix.

 

[Avorysuds]

What are chances for this to be investigated?

I think Obama is busy suing states that try and deal with the massive illegal immigration problem that he and Bush said we can't fix without amnesty. Obama’s hands are full at the moment with trying to stop people from solving problems.

 

[Avorysuds]

China and everyone else subsidizes their green industry, but pubs will only help Big Oil. Brilliant!! Morons...

I think Hydrogen is the answer to this.
1# It is the number one gas in the fucking universe. Meaning it will NEVER run out.
2# It is clean and green as its bi-product is water
3# It makes the most sense as a green energy source

I think within the next decade that it can break obrit (make it within the market)without subsides. Because there is unlimited amounts of it and there is a pretty hard push towards a green economy. If it can become economical then watch it past oil.

Wind and solar can't beat it. The whole question is when will something become workable within the market...Right now I'd say Hydrogen.

Top Gear LOVES Honda's Hydrogen Car, But... : TreeHugger
This car is pretty cool.
[ame=http://www.youtube.com/watch?v=4AUurBnLbJw]Top Gear - Honda Clarity (Runs on Hydrogen and exhausts H2o) - YouTube[/ame]
The cons.....Hydrogen filling stations in California( the only state they can be found) are sparse. Next, Hydrogen fuel costs almost as much as gasoline. That's outrageous!!!
I have maintained that there are two fuels which are plentiful and readily available which can be used instead of a fossil fuel based product. Those are hydrogen and Methanol...The latter, was being used in the old USAC and Indy Car series..
One of the main reasons it is no longer used is Methanol burns clear with no or very little visible flame. It was difficult for fire crews to know where to extinguish a car or pit fire.

Awesome, I hope there is nothing bad about this.... Thinking ahead to what this means for flight. One of the reasons we can't fly everywhere in a personal plane is the cost of fuel.

 

[saveliberty]

Hydrogen? Oh its great!

Hindenburg disaster - Wikipedia, the free encyclopedia

 

[Avorysuds]

Hydrogen? Oh its great!

Hindenburg disaster - Wikipedia, the free encyclopedia

So the car is a blimp?

 

[oreo]

More:

'Connected' Energy Firm Got Lowest Interest Rate on Government Loan

A politically connected solar company that pocketed a half billion dollar government loan, only to shut its doors, fire workers and file for bankruptcy, benefited from a series of breaks in securing the federal funds -- including an interest rate lower than other green energy projects, iWatch News and ABC News found.

Solyndra Got Lowest Interest Rate - ABC News

Obama is no doubt knee deep in this BS.......It needs to be fully investigated.

Obviously, Holder will shitcan it, but Darrell Issa won't.

Eric Holder has his own problems with the Fast and Furious program--so maybe he'll out Barack Obama in this so he can save his own arse?

 

[The T]

More:

'Connected' Energy Firm Got Lowest Interest Rate on Government Loan




Solyndra Got Lowest Interest Rate - ABC News

Obama is no doubt knee deep in this BS.......It needs to be fully investigated.

Obviously, Holder will shitcan it, but Darrell Issa won't.

Eric Holder has his own problems with the Fast and Furious program--so maybe he'll out Barack Obama in this so he can save his own arse?

Why not? Why should Obama have all the fun throwing bodies under the bus?

 

[CaféAuLait]

Hydrogen? Oh its great!

Hindenburg disaster - Wikipedia, the free encyclopedia

I saw a commercial for natural gas trucks/cars the other day.

 

[saveliberty]

What was in the blimp my friend?

Hint: Hydrogen.

What happened to the hydrogen in the blimp?

Hint: Boom!

 

[saveliberty]

Hydrogen? Oh its great!

Hindenburg disaster - Wikipedia, the free encyclopedia

I saw a commercial for natural gas trucks/cars the other day.

Surprisingly compressed natural gas is much more stable.

 

[The T]

Hydrogen? Oh its great!

Hindenburg disaster - Wikipedia, the free encyclopedia

I saw a commercial for natural gas trucks/cars the other day.

Surprisingly compressed natural gas is much more stable.