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Obama Solar Panel Company: Bankrupt

PoliticalChic

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"The Obama touch continues: Solar Panel company Obama pimped filing bankruptcy."

1. "Obama’s pet green jobs scheme continues to cost millions and the job loss continues. This is what happens when the government sticks its nose into the free market. Evergreen Solar took Obama’s stimulus money, only to send jobs overseas to China and now is filing for bankruptcy.

2. Wonder how the White House will spin this?

3. From The Boston Herald:
Evergreen Solar Inc., the Massachusetts clean-energy company that received millions in state subsidies from the Patrick administration for an ill-fated Bay State factory, has filed for bankruptcy, listing $485.6 million in debt.

They also receive Obama stimulus money. All the taxpayers got was the bill.

4. Evergreen and the White House claimed it would hire 90 to 100 people with the stimulus money. Instead we ended up with a -900 job creation deficit. Sound familiar?
The Obama touch continues: Solar Panel company Obama pimped filing bankruptcy | Scotty Starnes's Blog


So, what have we learned.
a. Obama knows nothing re:business

b. 'Green Energy' as a support for the economy is a fraud.

c. In the bigger context, 'crony capitalism,' in which government picks - or attempts to pick- winners and losers, is a failed endeavor.
Pretty much the political epitaph of Barack Obama.

d. Another repudiation of Obama, Green Economy, and socialism.


Still waitin' for that apology, Lefties.
 

iamwhatiseem

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It's what happens when business decisions are made for political and idealogical reasons instead of practical reasons. Solar power has a negative cost/savings ratio. So instead of throwing $100's millions at a company manufacturing solar panels that cost more than they save - spend $100's millions INVESTING in R&D to find better technology so the panels don't take 2 generations to pay themselves back!
$100's millions of dollars so a company could move to China and file bankruptcy in America...this is what happens when politics and business mix.
 

Wiseacre

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Just like the high speed rail BS, throwing billions of good money after bad. And Obama wouldn't allow it on the table for discussion for the debt ceiling negotiations. If it's not economically viable, it's a waste of money that we ain't got to spare.
 
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OP
PoliticalChic

PoliticalChic

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Just like the high speed rail BS, throwing billions of good money after bad. And Obama wouldn't allow it on the table for discussion for the debt ceiling negotiations. If it's not economically viable, it's a waste of money that we got to spare.

What an excellent example of the 'government knows best' attitude: high speed rail!
The billion dollar boondoggle!

I'll send you the rep in a moment!
 
OP
PoliticalChic

PoliticalChic

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Want a fast way to blow some taxpayer dollars? Buy a ticket on President Barack Obama’s high-speed spending trains.

High-speed rail is one of the president’s pie-in-the-sky green energy dreams, which would do little to relieve Americans who are suffering the effects of high gasoline prices.


Obama’s High-Speed Spending on Slow-Speed Rail
 
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OP
PoliticalChic

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Some dreams are better left unrealized, anyhow. Heritage’s Ronald Utt details some serious problems with high-speed rail, including high cost, the need for perpetual government subsidies, and wasted money from lack of ridership. Add that to false claims that the projects create jobs and empty promises that the trains will help the environment by getting cars off the road, and America has plenty of reasons not to get on board.

California provides a perfect example. Greg Pollowitz at National Review Online writes that the day after the federal government granted the Golden State $300 million for high-speed rail, the independent agency overseeing the state’s high-speed infrastructure spending shot down the project, calling for it to be put on hold due to questions over funding and project management. The rail plan has been estimated to cost $43 billion—and to date, the state has only $6.3 billion in place ($3.5 billion of that is federal dollars). The Orange County Register reports that those costs are going even higher, and an independent estimate pegs it at $81.4 billion.http://blog.heritage.org/2011/05/12/obamas-high-speed-spending-on-slow-speed-rail/
 

Unkotare

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That should read, "Deval Solar Panel Co. Bankrupt"
 

iamwhatiseem

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I love the high speed train in California.
The first government estimate was $1.4 billion...which became $43 billion....which became $83 billion.
let's put this in perspective...a contractor gives you a price to build your dream home at $315,000...he digs the foundation, pours the basement...and runs out of money and tells you he needs $17,955,000 to finish.
Yeah...that is how far off they were.
 

Trajan

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Want a fast way to blow some taxpayer dollars? Buy a ticket on President Barack Obama’s high-speed spending trains.

High-speed rail is one of the president’s pie-in-the-sky green energy dreams, which would do little to relieve Americans who are suffering the effects of high gasoline prices.


Obama’s High-Speed Spending on Slow-Speed Rail

California's 'commission' on high speed rail just published their rework of the costs, and yes its ugly.

its a sink hole, but they will probably go on with it anyway.

so 10 years there after it begins operating, where in it becomes the Amtrak of California, consuming cash flow from the cali treasury to remain in operation, the very same people will scream for higher taxes to offset that big suck and will throw up their hands and scream how did it come to this and those that don't ant to pay are cheap bastards ?
 

Trajan

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I love the high speed train in California.
The first government estimate was $1.4 billion...which became $43 billion....which became $83 billion.
let's put this in perspective...a contractor gives you a price to build your dream home at $315,000...he digs the foundation, pours the basement...and runs out of money and tells you he needs $17,955,000 to finish.
Yeah...that is how far off they were.

sorry bro, I didn't see your post I jumped straight from PC's.

yup, its a balls up Big Dig style robbery.....


Is California’s high-speed rail a boondoggle?
08/16/2011

Back in 2009, after Congress passed the stimulus bill — with $8 billion set aside for high-speed rail projects — there were plenty of headlines heralding the dawn of a new age of fast passenger trains in the United States. Trundle forward a few years, and the situation looks quite different. Republican governors in Florida, Ohio, and Wisconsin have all rejected billions in high-speed rail money, while the House GOP is now flatly opposed to any further federal funding.

That leaves California, which in 2008 approved a $9.95 billion bond measure to kick-start a new high-speed line from the Bay Area and Sacramento down to San Diego. The state has become the focal point for all arguments high-speed rail. And so, earlier this week, a San Jose Mercury News story got a lot of attention for reporting that the price tag on the San Francisco-Anaheim portion has ballooned from its original $33 billion to between $60 billion and $80 billion—or more. “This is a national embarrassment,” noted National Review’s Reihan Salam. “Sacramento needs to pull the plug on this,” wrote Mother Jones blogger Kevin Drum. “We have way better uses for this dough.”

But is California’s project really doomed? Not necessarily. Or — perhaps a better way of putting it — not just yet.

more at-
http://www.washingtonpost.com/blogs...-a-boondoggle/2011/08/16/gIQApisjJJ_blog.html
 
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uscitizen

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Kinda the reverse of some foreign companies that have built here due to tax breaks and such.
I worked ofr on in the 80's.
They located in RTP NC, Imported most of their raw materials from their parent company in Japan at inflated prices. showed a loss on US operations for as long as permitted under the tax break rules and then folded.
The parent company benefitted greatly.
 

Trajan

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hey but don't worry, our legislature is now working on making sure all hotel motel sheets are form fitting.......yes, you read that right.



Bill would require fitted sheets at hotels to protect housekeepers
Other legislation would require hospitals to provide equipment or teams of workers to help nurses avoid back injuries when they lift or move patients.

California bill would require hotels to use fitted sheets - Los Angeles Times

hey, we have our eye on whats important!
 

uscitizen

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Hey yuou are talking CA here.
CA has always been like a bowl of Granola, what is not fruit and flakes is nuts.
 
OP
PoliticalChic

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Want a fast way to blow some taxpayer dollars? Buy a ticket on President Barack Obama’s high-speed spending trains.

High-speed rail is one of the president’s pie-in-the-sky green energy dreams, which would do little to relieve Americans who are suffering the effects of high gasoline prices.


Obama’s High-Speed Spending on Slow-Speed Rail

California's 'commission' on high speed rail just published their rework of the costs, and yes its ugly.

its a sink hole, but they will probably go on with it anyway.

so 10 years there after it begins operating, where in it becomes the Amtrak of California, consuming cash flow from the cali treasury to remain in operation, the very same people will scream for higher taxes to offset that big suck and will throw up their hands and scream how did it come to this and those that don't ant to pay are cheap bastards ?

Subsidized at thousands of dollars per ticket...unable to respond to changing patterns of habitation....iconic of Liberal policy....

Amen.
 

del

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Want a fast way to blow some taxpayer dollars? Buy a ticket on President Barack Obama’s high-speed spending trains.

High-speed rail is one of the president’s pie-in-the-sky green energy dreams, which would do little to relieve Americans who are suffering the effects of high gasoline prices.


Obama’s High-Speed Spending on Slow-Speed Rail

California's 'commission' on high speed rail just published their rework of the costs, and yes its ugly.

its a sink hole, but they will probably go on with it anyway.

so 10 years there after it begins operating, where in it becomes the Amtrak of California, consuming cash flow from the cali treasury to remain in operation, the very same people will scream for higher taxes to offset that big suck and will throw up their hands and scream how did it come to this and those that don't ant to pay are cheap bastards ?

we got the cost of the sink hole rolled into the project price :lol:


BOSTON -- State transportation officials say a massive 4-foot-deep hole has opened up about 9 feet below the road surface in a Big Dig tunnel in Boston, but poses no danger to drivers.
The roughly 190-foot-long sinkhole that has filled with water was caused by settling of the clay around the tunnel.

Read more: http://www.thebostonchannel.com/news/28832037/detail.html#ixzz1VEjxbHNx

as long as they say it poses no danger.....
 

Oddball

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Oddball

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Want a fast way to blow some taxpayer dollars? Buy a ticket on President Barack Obama’s high-speed spending trains.

High-speed rail is one of the president’s pie-in-the-sky green energy dreams, which would do little to relieve Americans who are suffering the effects of high gasoline prices.


Obama’s High-Speed Spending on Slow-Speed Rail

California's 'commission' on high speed rail just published their rework of the costs, and yes its ugly.

its a sink hole, but they will probably go on with it anyway.

so 10 years there after it begins operating, where in it becomes the Amtrak of California, consuming cash flow from the cali treasury to remain in operation, the very same people will scream for higher taxes to offset that big suck and will throw up their hands and scream how did it come to this and those that don't ant to pay are cheap bastards ?

we got the cost of the sink hole rolled into the project price :lol:


BOSTON -- State transportation officials say a massive 4-foot-deep hole has opened up about 9 feet below the road surface in a Big Dig tunnel in Boston, but poses no danger to drivers.
The roughly 190-foot-long sinkhole that has filled with water was caused by settling of the clay around the tunnel.

Read more: Sinkhole Opens Beneath Big Dig Tunnel - Boston News Story - WCVB Boston

as long as they say it poses no danger.....
They need to rename that catastrophe the "Tip O'Neill Memorial Big Fuckin' Hole in the Ground".
 
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del

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That should read, "Deval Solar Panel Co. Bankrupt"

honesty isn't way up there on PC's priority list.
A tyop and/or mispelling now = blatant dishonesty?

Man, truthdontmatter is is a world of hurt! :lol:

obama is a misspelling of deval on what planet, exactly?
:lol:

the difference between PC and TM is that PC can cut and paste.

let me rephrase that. there is no difference between PC and TM.

thanks for pointing it out. :thup:
 

Moonglow

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On August 15, 2011, the company filed for Chapter 11 reorganization. Under the reorganization, the company plans to sell its assets, including its technology String Ribbon.

many, many compnaies have done this and are still operating.
 

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