Solyndra Debacle What did Obama know and when did he know it?

[The T]

Obama admin ignored warnings about Solyndra:

White House officials discussed the political ramifications of a possible default by a troubled solar energy company that received more than $500 million in federal loans, newly released emails show.

Emails released Thursday night show that Obama administration privately worried about the effect of a default by Solyndra Inc. on the president's re-election campaign.

"The optics of a Solyndra default will be bad," an official from the Office of Management and Budget wrote in a Jan. 31 email to a senior OMB official. "The timing will likely coincide with the 2012 campaign season heating up."

Obama admin ignored warnings about Solyndra - Yahoo! News


You know a scandal has legs when even AP-Yahoo news is reporting it.

I think these media outlets have read the writing on the wall as have many Democrats...they are realizing that they have to save thier own asses for supporting this criminal of a POTUS for so long.

 

[saveliberty]

Emails obtained by The Associated Press show that a White House official dismissed reports about Solyndra's gloomy future. An email from Greg Nelson, a White House official who had been involved in the planning of Obama's May 2010 trip to Solyndra's headquarters, to a Solyndra executive downplayed a July 2010 news story in a trade publication that criticized the company's financial health.

"Seems B.S.," Nelson wrote.

A 2009 report by the Energy Department's inspector general warned that the DOE lacked the necessary quality control for the loan guarantee program, which was created in 2005 to support clean-energy projects that could not obtain conventional bank loans due to high risks.

In July 2010, the Government Accountability Office said the Energy Department had bypassed required steps for funding awards to five of 10 applicants that received conditional loan guarantees.

The report did not publicly identify the companies that were not properly vetted, but congressional investigators say one of them was Solyndra. The company was the first to receive a loan guarantee after the program was expanded under the 2009 stimulus law.

The Obama administration is moving to finalize as many as 15 loan guarantees for renewable-energy companies before the stimulus program ends Sept. 30. Republicans question whether that could lead to more loans to companies that fail like Solyndra.

LaVera said the department won't take any shortcuts during the approval process.

White House wary of Solyndra re-election effects - Yahoo! News

Not to worry stimulus II is on the table...

Solargate is going to be fun.

 

[boedicca]

another clue

You wouldn't recognize a real clue even if it slapped you on the ass and called you Judy.

 

[boedicca]

Not to worry stimulus II is on the table...

Solargate is going to be fun.

Let's save taxpayer money and just do one big omnibus ObamaGate investigation.

Although, a bunch of individual "gates" would Save or Create a lot of jobs.

 

[PoliticalChic]

Gerald Walpin | TPMMuckraker


Gerald Walpin

Ex-AmeriCorps IG Gerald Walpin Loses Appeal In Wrongful Firing Suit

Rachel Slajda | January 5, 2011, 1:54PM



Gerald Walpin


Gerald Walpin, the former inspector general of the department overseeing AmeriCorps, lost an appeal in his lawsuit claiming that he was wrongfully fired by the Obama administration in June 2009.

A federal appeals court ruled against Walpin yesterday, writing in the panel's unanimous decision that Walpin does not have a "clear and indisputable right" to his old job.

Walpin's accusations of wrongdoing by the Obama administration quickly became a cause on the right. Rep. Darrell Issa (R-CA), who's about to become chair of the House Oversight Committee, opened an official Congressional inquiry into the firing with Sen. Chuck Grassley (R-IA). Their report, however, didn't find any evidence of actual wrongdoing.

another clue

Are you hiding behind large font?

Why?

Let's review.

1. The 'Hope and Change' guy promised all kinds of transparency.

2. But when an official invested with the oversight of Americorp found misuse of funds by a bud of Obama, he was told to resign or else.

3. There is no contention that Walpin had a right to retain his job, nor, in fact, that he is the subject of this post....merely that the Obama administration did all they could to hide theft.

4. ....no, the clear corruption exhibited by the Obama White House in not allowing Walpin to proceed with bringing charges in the case is the subject.

5. Certainly this series of events represents the very opposite of transparency...or of 'Hope and Change.'

6. Your obfuscation i.e. Walpin didn't win a suit to retain his job, does not speak to the issue. The issue is whether the case represents transparency in this administration, or corruption in covering up the misuse of funds.


I understand you being upset, trying to defend the indefensible.

BTW, where you one of the folks who objected to President Bush removing a US attorney?
If so, why was that wrong....but this no prob?

 

[Oldstyle]

when someone is charged with a crime in this one then it will matter.

Unlike under Bush there is now oversite in this country.

I don't think stupidity is considered a crime, TM. If it were then much of the Obama Administration would be up on charges.

Your people just gave a half a trillion dollars to a company that any competent analysis of would have shown their business model was fatally flawed...and the reason they did so was because they wanted to use Solyndra to plug their green jobs agenda and get a photo op for Vice President Biden.

 

[saveliberty]

Some of the other Recovery Act monies administered by DOE:

http://www1.eere.energy.gov/recovery/pdfs/battery_awardee_list.pdf

Gore-Backed Car Firm Gets Large US Loan
The Wall Street Journal

A tiny car company backed by former Vice President Al Gore has just gotten a $529 million U.S. government loan to help build a hybrid sports car in Finland that will sell for about $89,000.

The award this week to California startup Fisker Automotive Inc. follows a $465 million government loan to Tesla Motors Inc., purveyors of a $109,000 British-built electric Roadster. Tesla is a California startup focusing on all-electric vehicles, with a number of celebrity endorsements that is backed by investors that have contributed to Democratic campaigns.

The awards to Fisker and Tesla have prompted concern from companies that have had their bids for loans rejected, and criticism from groups that question why vehicles aimed at the wealthiest customers are getting loans subsidized by taxpayers.

NewMediaJournal: Gore-Backed Car Firm Gets Large US Loan

DOE Offers $737M Loan Guarantee for SolarReserve Project — Cleantech News and Analysis

Here’s another lucky winner of a federal loan guarantee program: The U.S. Department of Energy is offering a conditional loan guarantee of $737 million to SolarReserve to build a 110 MW solar power plant in Nevada, the DOE said Thursday.

Santa Monica-based SolarReserve hopes to finalize the loan guarantee in time to start construction on land managed by the federal Bureau of Land Management in 2011. The company plans to complete the solar power plant and start sending electricity to NV Energy in late 2013. The federal government signed off on the construction permit last December.

http://solarreserve.com/news/SolarReserveStatementforDOIPressConference020911.pdf

This is a private corporation with no reporting requirements to public stockholders. This is a likely sinkhole as well.

 

[saveliberty]

http://www.usgeothermal.com/FinancialReports/2010 Year End Financial Statement.pdf

Another company in the program. Note loan size to total assets. This is a red flag people.

Blue Mountain is just one project that is starting to see government-backed funds. Last week, the DOE announced a $102.2 million conditional commitment for a loan guarantee to U.S. Geothermal, Inc. to build a 22-megawatt geothermal power plant in Malheur County, in southeastern Oregon. The planned project is expected to be operational in 2012.

DOE Hands Out (More) Geothermal Loans : Greentech Media

 

[Wolfmoon]

TM’s right no story here move on.

Solyndra: Blame It On Bush, Say Obama Officials
http://abcnews.go.com/Blotter/solyndra-blame-bush-obama-officials/story?id=14513389
----

White House Was Briefed About "Fast and Furious" Gunwalker Scandal
http://www.thenewamerican.com/usnews/crime/8859-white-house-was-briefed-about-qfast-and-furiousq-gunwalker-scandal
----

Bombshell: General accused WH of pressuring him to change testimony for Democratic donor
http://hotair.com/archives/2011/09/15/bombshell-general-accused-wh-of-pressuring-him-to-change-testimony-for-democratic-donor/

 

[saveliberty]

The Energy Department will soon have to make one of its toughest decisions to date regarding its taxpayer-backed loan-guarantee program: whether to award a $2 billion loan guarantee to a company that wants to use a questionable technology to build a uranium-enrichment plant in the politically crucial state of Ohio.
The company, Bethesda, Maryland-based USEC, recently announced that DOE has completed the due-diligence phase of its application for the $2 billion loan guarantee, which USEC has said it must receive in order to complete its American Centrifuge project in Piketon, Ohio.
Now, USEC is hoping that DOE will not set too high of a credit subsidy fee, which certain loan-guarantee recipients must pay up front to protect taxpayers in the event that they default on their government-backed loans.
If the credit subsidy fee exceeds USEC's current cash reserve balance of about $150 million, the company may have to abandon the project that it has spent years developing, and which it says is crucial for its financial future.

DOE faces tough decision on USEC loan guarantee | wusa9.com

This look familiar to anyone?

http://www.usec.com/NewsRoom/NewsReleases/USECInc/2011/USEC2Q2011Earnings.pdf

USEC Reports Second Quarter 2011 Results and Provides ACP Update
 Gross profit of $33.2 million dollars; net loss of $21.2 million after advanced technology
expense of $33.5 million

per share for the quarter ended June 30, 2011, compared to net income of $7.2 million or 4 cents
per diluted share (6 cents per basic share) for the second quarter of 2010. For the six-month period ended
June 30, 2011, USEC reported a loss of $37.8 million or 31 cents per share compared to a loss of $2.5
million or 2 cents per share in the first half of 2010.
The financial results for the quarter and six-month period ended June 30, 2011, reflect the
anticipated decline in the gross profit margin and higher advanced technology costs associated with the
American Centrifuge project year-over-year that were not offset by a cost-sharing program that was in
place in 2010 with the Department of Energy (DOE).
“Although our bottom line was a net loss, the quarterly gross profit of $33 million was higher
than initially projected. Our efforts to manage costs are expected to result in a gross profit margin for the
full year of 6 percent, up from the 4 to 5 percent in our original guidance,” said John K. Welch, USEC
president and chief executive officer. “Our continued investment in the American Centrifuge project
resulted in the net loss, but that spending keeps the project in a condition where it can be ramped up
again more quickly and at less cost than if it was fully demobilized.
“Our ongoing discussions with DOE on a loan guarantee were not concluded in July as we had
hoped. These discussions have made it clear that DOE wants to see the project move forward. We
believe they recognize the national significance of the project, the importance of having a U.S.-owned
and operated enrichment plant, the long-term implication for both nuclear energy and national security,
and the project’s economic benefits, including approximately 8,000 jobs during construction,”

 

[Wolfmoon]

Houston we have a problem...

 

[Wolfmoon]

This is just another example of the government trying to destroy us from the inside.

 

[Wolfmoon]

Obama is good at taking down America!

 

[DiAnna]

Last May, President Obama gave a one of his 'feel good' speeches at the Solyndra plant that made solar panels in California and gave it high praises: "It's clear that Solyndra is leading the way the a brighter and more prosperous future."-Barack Obama, May 26, 2010
Pr. Obama at Solyndra (1) California Solar Plant - YouTube

And something over a half billion ($535 million?) in loan guarantees out of the stimulus money went to Solyndra who just incidentally was a major supporter of Obama's campaign and the DNC.

Shareholders and executives of Solyndra, a green energy company producing solar panels, fundraised for and donated to the Obama administration to the tune of hundreds of thousands of dollars.

Tulsa billionaire George Kaiser, a key Obama backer who raised between $50,000 and $100,000 for the president’s election campaign, is one of Solyndra’s primary investors. Kaiser himself donated $53,500 to Obama’s 2008 election campaign, split between the DSCC and Obama For America. Kaiser also made several visits to the White House and appeared at some White House events next to Obama officials.
Read more: Bankrupt Solar Company | Obama Administration | Campaign Donations | The Daily Caller

And then WAPO broke the story that e-mails show that last September, the Administration was rushing the money to Solyndra before allowing appropriate authorities verify and check out whether the loan guarantee (that the taxpayers are now stuck for) met mandatory federal guidelines. So Solyndra got their unsecured and non checkout out loan just before Joe Biden went on television to announce that this would create a 1000 permanent jobs in a green industry.
Solyndra Scandal Deepens, Hands Issue to Republicans - Yahoo! News

And we also now know via NBC and others that some were alerting the administration months ago that Solyndra was not selling any panels or was selling them below cost and they would be out of money by September 2011.

Solyndra filed for bankruptcy last week.
**********************************************
I would like to devote this thread to a discussion, civil if at all possible, of Solyndra and all the deals, legislation, policy, and programs, enacted or proposed, that do not meet the smell test for being above board, honestly presented, reasonable or competent.

I realize I am at risk of being reported to AttackWatch here.

This has got to be a /facepalm moment for the whitehouse, especially since leaked e-mails confirm that auditing and finance staff members were frantically begging the administration not to give money to this firm, since it appeared to be financially insolvent. One e-mail went so far as to say, basically (according to Tom Sullivan's radio show) that even if the $525 million dollar loan was given, the company would still be bankrupt by Sept, 2011.

With the personal ties the founders of this company had to the whitehouse and Obama's campaign contributions... along with the fact that its CEO had three meetings in the whitehouse shortly before the loan was approved... this is going to be a political hot potato of the first degree for Obama's campaign for re-election.

I knew Obama was unqualified for the position, and was frustrated beyond measure when he got the nomination. It now appears he is not only unqualified, he is either hopelessly incompetent or thoroughly corrupt. Neither are traits I wish in a president.

I do so wish the democrats would ban together, tell him to pull an LBJ and announce he's not running for re-election, then offer a competent, qualified candidate in his place.

Of course, I also wish it would rain puppies and lollipops... but that's not going to happen either.

 

[saveliberty]

DOE chief Chu needs to step down immediately. I won't be surprised if it is announced over the weekend to limit media coverage.

 

[oreo]

Last May, President Obama gave a one of his 'feel good' speeches at the Solyndra plant that made solar panels in California and gave it high praises: "It's clear that Solyndra is leading the way the a brighter and more prosperous future."-Barack Obama, May 26, 2010
Pr. Obama at Solyndra (1) California Solar Plant - YouTube

And something over a half billion ($535 million?) in loan guarantees out of the stimulus money went to Solyndra who just incidentally was a major supporter of Obama's campaign and the DNC.

Shareholders and executives of Solyndra, a green energy company producing solar panels, fundraised for and donated to the Obama administration to the tune of hundreds of thousands of dollars.

Tulsa billionaire George Kaiser, a key Obama backer who raised between $50,000 and $100,000 for the president’s election campaign, is one of Solyndra’s primary investors. Kaiser himself donated $53,500 to Obama’s 2008 election campaign, split between the DSCC and Obama For America. Kaiser also made several visits to the White House and appeared at some White House events next to Obama officials.
Read more: Bankrupt Solar Company | Obama Administration | Campaign Donations | The Daily Caller

And then WAPO broke the story that e-mails show that last September, the Administration was rushing the money to Solyndra before allowing appropriate authorities verify and check out whether the loan guarantee (that the taxpayers are now stuck for) met mandatory federal guidelines. So Solyndra got their unsecured and non checkout out loan just before Joe Biden went on television to announce that this would create a 1000 permanent jobs in a green industry.
Solyndra Scandal Deepens, Hands Issue to Republicans - Yahoo! News

And we also now know via NBC and others that some were alerting the administration months ago that Solyndra was not selling any panels or was selling them below cost and they would be out of money by September 2011.

Solyndra filed for bankruptcy last week.
**********************************************
I would like to devote this thread to a discussion, civil if at all possible, of Solyndra and all the deals, legislation, policy, and programs, enacted or proposed, that do not meet the smell test for being above board, honestly presented, reasonable or competent.

I realize I am at risk of being reported to AttackWatch here.

This has got to be a /facepalm moment for the whitehouse, especially since leaked e-mails confirm that auditing and finance staff members were frantically begging the administration not to give money to this firm, since it appeared to be financially insolvent. One e-mail went so far as to say, basically (according to Tom Sullivan's radio show) that even if the $525 million dollar loan was given, the company would still be bankrupt by Sept, 2011.

With the personal ties the founders of this company had to the whitehouse and Obama's campaign contributions... along with the fact that its CEO had three meetings in the whitehouse shortly before the loan was approved... this is going to be a political hot potato of the first degree for Obama's campaign for re-election.

I knew Obama was unqualified for the position, and was frustrated beyond measure when he got the nomination. It now appears he is not only unqualified, he is either hopelessly incompetent or thoroughly corrupt. Neither are traits I wish in a president.

I do so wish the democrats would ban together, tell him to pull an LBJ and announce he's not running for re-election, then offer a competent, qualified candidate in his place.

Of course, I also wish it would rain puppies and lollipops... but that's not going to happen either.

And there's always more:

Apparently--Solyndra pestered the Bush administration for this loan--and was refused.

WASHINGTON -- Solyndra officials were intensely pressuring Bush administration officials in early January 2009 to approve a government loan for the solar company before the Obama administration took power, according to new emails obtained by Fox News on Friday.

On Jan. 12, 2009, Solyndra CEO Chris Gronet sent an Energy Department official an email marked "urgent" expressing outrage that Bush officials had decided a few days earlier that while the loan application had "merit" it needed further study before officials could move forward with a taxpayer-financed loan.

"I was appalled to learn on Friday that our application is being delayed yet again," Gronet wrote to Energy official Steve Isakowitz, writing there had been "countless communications" back and forth suggesting the application would be reviewed Jan. 15.
Gronet wrote just days before President Obama's inauguration that stretching the process out could have a "severe" impact on Solyndra. The California-based solar panel manufacturer eventually got a $535 million loan from the Obama administration in September 2009 but recently filed for bankruptcy, cut 1,100 jobs and has since been raided by the FBI.

"It could cause an unknown delay in the program with the change in administration," wrote Gronet. "Jobs are at stake this time. I would like to talk to you at your earliest convenience on Monday to discuss how we can get the application back on track for what I hope to be a positive review on Thursday."

Obama administration officials provided the new emails to Fox News to show that Republicans on Capitol Hill have misrepresented other emails released earlier this week to suggest the Bush administration tried to cut off Solyndra's chances of getting a government loan.

Earlier this week, Republicans on the House Energy and Commerce Committee released a Jan. 13, 2009 email in which Bush Energy official Lachlan Seward wrote, "After canvassing the [Energy Department's credit] committee it was the unanimous decision not to engage in further discussions with Solyndra at this time."

Rep. Tim Murphy, R-Pa., a member of the House committee, used that email to charge Friday that the decision to no longer "engage" on the matter meant that Bush officials wanted to pull the plug on the Solyndra deal altogether and the Obama administration improperly moved forward on it later.

"The [credit] committee voted unanimously not to go along with this ... loan so it died, and then like Lazarus it rose again," Murphy said Friday morning on Fox News.

--more

Solyndra Pestered Bush Administration Over Delays In Approving Federal Loan, Emails Show | Fox News

 

[Foxfyre]

Last May, President Obama gave a one of his 'feel good' speeches at the Solyndra plant that made solar panels in California and gave it high praises: "It's clear that Solyndra is leading the way the a brighter and more prosperous future."-Barack Obama, May 26, 2010
Pr. Obama at Solyndra (1) California Solar Plant - YouTube

And something over a half billion ($535 million?) in loan guarantees out of the stimulus money went to Solyndra who just incidentally was a major supporter of Obama's campaign and the DNC.

Shareholders and executives of Solyndra, a green energy company producing solar panels, fundraised for and donated to the Obama administration to the tune of hundreds of thousands of dollars.

Tulsa billionaire George Kaiser, a key Obama backer who raised between $50,000 and $100,000 for the president’s election campaign, is one of Solyndra’s primary investors. Kaiser himself donated $53,500 to Obama’s 2008 election campaign, split between the DSCC and Obama For America. Kaiser also made several visits to the White House and appeared at some White House events next to Obama officials.
Read more: Bankrupt Solar Company | Obama Administration | Campaign Donations | The Daily Caller

And then WAPO broke the story that e-mails show that last September, the Administration was rushing the money to Solyndra before allowing appropriate authorities verify and check out whether the loan guarantee (that the taxpayers are now stuck for) met mandatory federal guidelines. So Solyndra got their unsecured and non checkout out loan just before Joe Biden went on television to announce that this would create a 1000 permanent jobs in a green industry.
Solyndra Scandal Deepens, Hands Issue to Republicans - Yahoo! News

And we also now know via NBC and others that some were alerting the administration months ago that Solyndra was not selling any panels or was selling them below cost and they would be out of money by September 2011.

Solyndra filed for bankruptcy last week.
**********************************************
I would like to devote this thread to a discussion, civil if at all possible, of Solyndra and all the deals, legislation, policy, and programs, enacted or proposed, that do not meet the smell test for being above board, honestly presented, reasonable or competent.

I realize I am at risk of being reported to AttackWatch here.

This has got to be a /facepalm moment for the whitehouse, especially since leaked e-mails confirm that auditing and finance staff members were frantically begging the administration not to give money to this firm, since it appeared to be financially insolvent. One e-mail went so far as to say, basically (according to Tom Sullivan's radio show) that even if the $525 million dollar loan was given, the company would still be bankrupt by Sept, 2011.

With the personal ties the founders of this company had to the whitehouse and Obama's campaign contributions... along with the fact that its CEO had three meetings in the whitehouse shortly before the loan was approved... this is going to be a political hot potato of the first degree for Obama's campaign for re-election.

I knew Obama was unqualified for the position, and was frustrated beyond measure when he got the nomination. It now appears he is not only unqualified, he is either hopelessly incompetent or thoroughly corrupt. Neither are traits I wish in a president.

I do so wish the democrats would ban together, tell him to pull an LBJ and announce he's not running for re-election, then offer a competent, qualified candidate in his place.

Of course, I also wish it would rain puppies and lollipops... but that's not going to happen either.

And there's always more:

Apparently--Solyndra pestered the Bush administration for this loan--and was refused.

WASHINGTON -- Solyndra officials were intensely pressuring Bush administration officials in early January 2009 to approve a government loan for the solar company before the Obama administration took power, according to new emails obtained by Fox News on Friday.

On Jan. 12, 2009, Solyndra CEO Chris Gronet sent an Energy Department official an email marked "urgent" expressing outrage that Bush officials had decided a few days earlier that while the loan application had "merit" it needed further study before officials could move forward with a taxpayer-financed loan.

"I was appalled to learn on Friday that our application is being delayed yet again," Gronet wrote to Energy official Steve Isakowitz, writing there had been "countless communications" back and forth suggesting the application would be reviewed Jan. 15.
Gronet wrote just days before President Obama's inauguration that stretching the process out could have a "severe" impact on Solyndra. The California-based solar panel manufacturer eventually got a $535 million loan from the Obama administration in September 2009 but recently filed for bankruptcy, cut 1,100 jobs and has since been raided by the FBI.

"It could cause an unknown delay in the program with the change in administration," wrote Gronet. "Jobs are at stake this time. I would like to talk to you at your earliest convenience on Monday to discuss how we can get the application back on track for what I hope to be a positive review on Thursday."

Obama administration officials provided the new emails to Fox News to show that Republicans on Capitol Hill have misrepresented other emails released earlier this week to suggest the Bush administration tried to cut off Solyndra's chances of getting a government loan.

Earlier this week, Republicans on the House Energy and Commerce Committee released a Jan. 13, 2009 email in which Bush Energy official Lachlan Seward wrote, "After canvassing the [Energy Department's credit] committee it was the unanimous decision not to engage in further discussions with Solyndra at this time."

Rep. Tim Murphy, R-Pa., a member of the House committee, used that email to charge Friday that the decision to no longer "engage" on the matter meant that Bush officials wanted to pull the plug on the Solyndra deal altogether and the Obama administration improperly moved forward on it later.

"The [credit] committee voted unanimously not to go along with this ... loan so it died, and then like Lazarus it rose again," Murphy said Friday morning on Fox News.

--more

Solyndra Pestered Bush Administration Over Delays In Approving Federal Loan, Emails Show | Fox News

Wouldn't you have loved to be a fly on the wall as the Solyndra execs negotiated the deal with the Obama Administration? President Obama was created, groomed, trained, and educated in the Chicago machine. He had to know how to grease wheels for political expediency. Okay I'm just speculating, but since this deal fails the smell test so dramatically, it makes it really hard to extend any benefit of the doubt that no deal was cut with Solyndra in order to sidestep all the regulations to guarantee the loan guarantee.

 

[Wolfmoon]

It stinks to high heaven but what I want to know is why President Nobama is going to get a free pass on the whole stinking thing! Who made him King?

It's too bad all men aren't created equal and some are above the laws!

 

[Wolfmoon]

Wall Street Journal

Solar Firm Denied Troubles in Spring

"White House officials received assurances from solar-panel maker Solyndra LLC as recently as May 2011 that its finances were strong, with the company dismissing concerns raised in media reports that problems were brewing.

Emails released by the White House Friday show the company and its lobbyists reaching out to the West Wing on several occasions. In May, less than four months before the company filed for bankruptcy protection, company representative David Miller told White House official Greg Nelson that "we have good market momentum, the factory is ramping and our plan puts at cash positive later this year.""

 

[saveliberty]

It is simple. If your going to send the President and Vice President on separate occassions to this business AND loan them over a half billion, you keep good tabs on their finances. 1Fail

You get repeated visits asking for more financial help. Nobody checks to see how they are doing? 2Fails

The CEO steps down. Nobody checks? 3 Fails