proof that Obama and his policies are at odds with job creation

A little more on this:

The Obama Administration and Solyndra - ABC News



More at the link....





I wonder how much of that 535 million he got for his services?


Barry's cut was about 50K...

The loan guarantee, the administration's first for a clean energy project, benefited a company whose prime financial backers include Oklahoma oil billionaire George Kaiser, a "bundler" of campaign donations. Kaiser raised at least $50,000 for the president's 2008 election effort.





That was the front door part. I wonder what the back door payoff looked like.
 
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.


guess why they didnt get their loans?
 
Do you righties bitch and moan about all the small business loans given to huge franchisees like McDonalds and KFC? No, those are republican backed businesses. Ever research how many of these make it?

SBA Loan Failure Rates for Franchises by Brand, 2009 | BlueMauMau

Why is the SBA involved in any way with a GIGANTIC multinational corporation that has more than enough capital to fund its franchise financing anyway??? More corporate welfare! SBA is for SMALL BUSINESS LOANS.

Uh...you are clearly niave to frnachise law.

A franchise is not owned by the corporation..it is owned by the small business owner.
 
Do you righties bitch and moan about all the small business loans given to huge franchisees like McDonalds and KFC? No, those are republican backed businesses. Ever research how many of these make it?

SBA Loan Failure Rates for Franchises by Brand, 2009 | BlueMauMau

Why is the SBA involved in any way with a GIGANTIC multinational corporation that has more than enough capital to fund its franchise financing anyway??? More corporate welfare! SBA is for SMALL BUSINESS LOANS.

Uh...you are clearly niave to frnachise law.

A franchise is not owned by the corporation..it is owned by the small business owner.

The point remains why are those loans OK with you?
 
Fom the above article:

When the Obama administration announced financing for Solyndra in 2009, the company was only four years old, and had been shipping solar panels for about a year. Officials said the administration was eager to stimulate the economy and encourage green energy start-ups. Energy Secretary Steven Chu promised Solyndra's package alone would create more than 4,000 jobs.

One year later, in March 2010, the signs were not so encouraging. "The Company has suffered recurring losses from operations, negative cash flows since inception and has a net stockholders' deficit," is how Solyndra's accountant, PricewaterhouseCoopers LLC, assessed its financial status in an audit being prepared for an initial public offering. Those factors, it stressed, "raise substantial doubt about its ability to continue as a going concern."
 
Do you righties bitch and moan about all the small business loans given to huge franchisees like McDonalds and KFC? No, those are republican backed businesses. Ever research how many of these make it?

SBA Loan Failure Rates for Franchises by Brand, 2009 | BlueMauMau

Why is the SBA involved in any way with a GIGANTIC multinational corporation that has more than enough capital to fund its franchise financing anyway??? More corporate welfare! SBA is for SMALL BUSINESS LOANS.

7(a), Microloan or CDC / 504 ?
 
A franchise is not owned by the corporation..it is owned by the small business owner.

Not even a little bit. The owner has very little say about the operation of the franchise, has to buy from specific vendors, cannot change the menu and cannot bitch when the corp suddenly decides to build a new one next door. Many franchisees find themselves trapped. Why on earth would the SBA be anywhere near a McDonalds? That is not a small business no matter how you look at it.

As for the legislation that allows huge corporations to use the SBA, I wonder how much that cost? I wonder what color political stripe that bill was. I'll bet it was red. Probably the same as the ones who enacted the unconstitutional veggie libel laws.
 
Last edited:
Fremont solar tech firm Solyndra to shut down, lay off hundreds of workers

Solyndra, a Fremont-based solar panel manufacturer that flared then sputtered, abruptly ceased operations on Wednesday and immediately laid off all 1,100 of its workers.

The shutdown marks a high-profile collapse of a company that received more than $1.6 billion in federal and private funding in recent years.

"This was an unexpected outcome and is most unfortunate," Brian Harrison, Solyndra's president and chief executive, said.

The company received $535 million in taxpayer money from the U.S. Department of Energy and $1.1 billion in private venture capital funding.
President Barack Obama touted Solyndra as a poster child for clean energy after the company received the federal funds.

"Companies like Solyndra are leading the way toward a brighter and more prosperous future," Obama said during a 2010 visit to the company's Fremont headquarters.
not so much, it would appear.

Merged with existing thread.
 
Greenies suck and are the cause of our high gas prices. Only if we elected Bachmann since she would lower the price to under $2.00 by drilling more.
 
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.


guess why they didnt get their loans?


That reading comprehension thing is a real thorn in your side, isn't it?

Did you not read the OP???

They DID get their loan.
500 fucking billion dollars.

GONE
*poof*

:cuckoo:
 
The One's blessing is the Kiss of Death for sure. A Restaurant touted in his Stimulus recently went under too. Inexperienced "Community Organizers" know nothing about Business. That's just fact.
 

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