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Three green energy companies that received government money are in trouble this week alone. What was that about it being OK to throw taxpayer money on Green jobs?? It ain't working folks.
I have no more words.............
Earlier this week, Stimulus beneficiary Evergreen Energy bit the dust. Then, Ener1, a manufacturer of batteries for electric vehicles and recipient of Stimulus largesse, filed for bankruptcy. And today, the Las Vegas Sun reports that Amonix, Inc., a manufacturer of solar panels that received $5.9 million from the Porkulus, will cut two-thirds of its workforce, about 200 employees, only seven months after opening a factory in Nevada.
Drip, Drip, Drip: Yet Another Green Energy Stimulus Recipient Hits the Skids (the third this week!)
Three green energy companies that received government money are in trouble this week alone. What was that about it being OK to throw taxpayer money on Green jobs?? It ain't working folks.
I have no more words.............
Earlier this week, Stimulus beneficiary Evergreen Energy bit the dust. Then, Ener1, a manufacturer of batteries for electric vehicles and recipient of Stimulus largesse, filed for bankruptcy. And today, the Las Vegas Sun reports that Amonix, Inc., a manufacturer of solar panels that received $5.9 million from the Porkulus, will cut two-thirds of its workforce, about 200 employees, only seven months after opening a factory in Nevada.
Drip, Drip, Drip: Yet Another Green Energy Stimulus Recipient Hits the Skids (the third this week!)
The intent was never to help the companies, the intent was to use the companies to funnel the cash back into political coffers. Obama gives them 100 million, they then file bankruptcy, give Obama 50 million for his campaign etc etc etc.
Several of Barack Obama's top campaign supporters went from soliciting political contributions to working from within the Energy Department as it showered billions in taxpayer-backed stimulus money on alternative energy firms, ABC News and iWatch News have learned.
One of them was Steven J. Spinner, a high-tech consultant and energy investor who raised at least $500,000 for the candidate. He became one of Energy Secretary Steven Chu's key loan program advisors while his wife's law firm represented a number of companies that had applied for loans.
Recovery Act records show Allison Spinner's law firm, Wilson Sonsini Goodrich & Rosati, received $2.4 million in federal funds for legal fees related to the $535 million Energy Department loan guarantee to Solyndra, a solar company whose financial meltdown has prompted multiple investigations. She pledged to take no portion of the money and did not work on the loan applications.
Three green energy companies that received government money are in trouble this week alone. What was that about it being OK to throw taxpayer money on Green jobs?? It ain't working folks.
I have no more words.............
Drip, Drip, Drip: Yet Another Green Energy Stimulus Recipient Hits the Skids (the third this week!)
The intent was never to help the companies, the intent was to use the companies to funnel the cash back into political coffers. Obama gives them 100 million, they then file bankruptcy, give Obama 50 million for his campaign etc etc etc.
You may be on to something here. Unfortunately Google won't let you search for stuff like that, wonder what kind of results Bing might get????
Well, well, well one Bing search and look what I found on top??
Several of Barack Obama's top campaign supporters went from soliciting political contributions to working from within the Energy Department as it showered billions in taxpayer-backed stimulus money on alternative energy firms, ABC News and iWatch News have learned.
One of them was Steven J. Spinner, a high-tech consultant and energy investor who raised at least $500,000 for the candidate. He became one of Energy Secretary Steven Chu's key loan program advisors while his wife's law firm represented a number of companies that had applied for loans.
Recovery Act records show Allison Spinner's law firm, Wilson Sonsini Goodrich & Rosati, received $2.4 million in federal funds for legal fees related to the $535 million Energy Department loan guarantee to Solyndra, a solar company whose financial meltdown has prompted multiple investigations. She pledged to take no portion of the money and did not work on the loan applications.
Obama Fundraisers Had Ties to Green Firms That Got Federal Cash - ABC News
The intent was never to help the companies, the intent was to use the companies to funnel the cash back into political coffers. Obama gives them 100 million, they then file bankruptcy, give Obama 50 million for his campaign etc etc etc.
You may be on to something here. Unfortunately Google won't let you search for stuff like that, wonder what kind of results Bing might get????
Without a word of a lie I've had to hit dogpile again. When I've gone non politico google is ok but whenever you want truth and quick always always go to dogpile.
The program's goal was to train 124,893 people and put 79,854 in jobs. But 17 months later, 52,762 were trained and 8,035, or roughly 1 in 10, had jobs. Those numbers come from an audit by the Department of Labor's inspector general, which recommended that the administration end the program and return unspent money. President Obama has made green jobs a cornerstone of his economic agenda. In his first 2012 campaign ad this month, he said clean energy industries created 2.7 million jobs and were "expanding rapidly." But Republicans have pounced on failures, such as the bankruptcy of Solyndra, a solar panel maker backed with a Department of Energy loan guarantee.
Citing what he calls "abysmal results" in the job training program, House Oversight Committee Chairman Darrell Issa, R-Calif., is demanding answers about how the Department of Labor awarded the grants, which were funded out of the 2009 stimulus bill. But Assistant Secretary of Labor Jane Oates defends the initiative, saying the inspector general's audit used old numbers and that it was never designed to provide immediate results. "It's like coming to me three days after I join Weight Watchers and yelling at me because I didn't lose 62 pounds yet," she said. More recent numbers are still being compiled, Oates said.
One group Issa singled out is the Pathstone Corp., a Rochester, N.Y. non-profit that spent $2.3 million of its $8 million grant and had trained only 25 people far short of its 660 goal, auditors found. Those numbers are "extremely outdated," said Pathstone's Jeffrey Lewis. His most current numbers show 264 trainees employed and 194 of them in a related field. But he conceded that job placements have been much slower than anyone would have liked. "This grant came just as the recession heightened," he said.
Bureaucracy also slowed the process. As part of its grant application, Pathstone needed to line up employers to take its graduates. But by the time it won the grant, one employer in Scranton, Pa., stopped hiring after a moratorium on natural gas drilling, and the funding constraints halted the city of Rochester's abandoned home-deconstruction program. Oates acknowledged those problems and said the department was streamlining its decision-making. "We walk a fine line all the time between trying to be responsive to our beloved grantees and we love all of them and trying to be good stewards of the taxpayer's money."
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