The Obama Bankruptcy Curse Strikes Again!
Jeannie DeAngelis
2/18/13
If an establishment is endowed with enough history to be able to hang a plaque on the wall that says "George Washington Slept Here," that business usually grows. With Barack Obama, it's the exact opposite. That's why when Obama visits or supports a business, the plaque should read "Because of Barack Obama the business you didn't build will soon be out of business."
If Obama backs a solar energy company it is almost certain that a shutdown is in the offing. To date, approximately 34 Obama-backed green energy companies have gone bankrupt, the most well-known being Solyndra. With the help of a highly Obama-touted half-billion dollar federal loan guarantee, Solyndra expanded their solar panel operations and created 158 jobs. Then, 15 months later the company filed Chapter 11 and laid off 1,100 employees.
The Obama curse is not limited to green energy companies. In 2009 the President visited Cardinal Fasteners in Bedford Heights, Ohio, and by 2011 the bolt-maker was in Chapter 11 and was forced to suspend operations.
From the looks of things, in 2009 Barack really spread the bankrupting joy around. To promote his economic stimulus plan the president toured Allentown Metal Works, a 100-year-old Pennsylvania metal fabrication company that specialized in making heavy-duty steel components for bridges and power plants as well as for the cement and mining industries. The Lehigh Valley manufacturer didn't get a 15-month or two-year reprieve; by 2010 the plant's gate was padlocked.
And yet again in 2009, as part of his business-busting/pro-stimulus bill marathon Barack bulldozed his way into the heavy machinery manufacturer Caterpillar in Peoria, Illinois. After the President's visit Caterpillar notified an additional 2,454 workers that they were "losing their jobs as the company continues to try to bring production in line with plummeting demand...The bulk of the job cuts - nearly 1,600 in all - [were] in Illinois at the company's plants in East Peoria."
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