Solar company Obama touted--& loaned 535 MILLION guaranteed loan announces bankruptcy

[Ame®icano]

What are chances for this to be investigated?

 

[boedicca]

That all depends on the results of the 2012 elections.

The current administration and DOJ will stonewall any attempts to do so.

 

[Full-Auto]

What are chances for this to be investigated?

Slim to none........................................

 

[editec]

China and everyone else subsidizes their green industry, but pubs will only help Big Oil. Brilliant!! Morons...

I think Hydrogen is the answer to this.
1# It is the number one gas in the fucking universe. Meaning it will NEVER run out.
2# It is clean and green as its bi-product is water
3# It makes the most sense as a green energy source

I think within the next decade that it can break obrit (make it within the market)without subsides. Because there is unlimited amounts of it and there is a pretty hard push towards a green economy. If it can become economical then watch it past oil.

Wind and solar can't beat it. The whole question is when will something become workable within the market...Right now I'd say Hydrogen.

Just read that somebody has found a much cheaper way to break down water into hydrogen and oxygen.

If that technique scales up to industrial scale then perhaps there is a place for hydrogen in the new energy world.

If not then hydrogen is still not going to solve the energy crises.

 

[boedicca]

Until the full energy equation for hydrogen results in significant net energy creation instead of consumption, it's just another green energy unicorn.

 

[Remodeling Maidiac]

[ame=http://www.youtube.com/watch?v=IYtAEBd5osE&feature=youtube_gdata_player]Obama Fails - YouTube[/ame]

 

[LibocalypseNow]

I really do hope to see some of these creeps wearing orange jumpsuits at some point. This theft needs to be fully investigated.

 

[Ame®icano]

What are chances for this to be investigated?

Slim to none........................................

Well, I keep hearing how we are the nation of laws.

 

[oreo]

Given the fact Obama has never done anything productive in his life, this should be no surprise. He's an organizer plain and simple...all this guy knows how to do is waste loads of money he confiscates one way or another from the hardest working americans and campaign, campaign, campaign.

I never forget his comment when he went to a wind mill plant. He actually stated--"that looks like a giant surf-board"---

You're right and so is Mitt Romney on Obama. How can you expect someone who has never worked a day in the private sector to actually create a private sector job?


What this country did--was elect a community organizer--Harvard graduate--most intellectual President of all time--and now amateur golfer--and expect him to actually KNOW something about the nuts and bolts of this economy?---HELLO.

One Big Ass Mistake America!

 

[OODA_Loop]

Government cannot pick winners and losers.

Obama can.

 

[LibocalypseNow]

Given the fact Obama has never done anything productive in his life, this should be no surprise. He's an organizer plain and simple...all this guy knows how to do is waste loads of money he confiscates one way or another from the hardest working americans and campaign, campaign, campaign.

I never forget his comment when he went to a wind mill plant. He actually stated--"that looks like a giant surf-board"---

You're right and so is Mitt Romney on Obama. How can you expect someone who has never worked a day in the private sector to actually create a private sector job?


What this country did--was elect a community organizer--Harvard graduate--most intellectual President of all time--and now amateur golfer--and expect him to actually KNOW something about the nuts and bolts of this economy?---HELLO.

One Big Ass Mistake America!

View attachment 15080

Yea Romney nailed it for sure. "How can you expect someone who has never worked a day in the private sector to actually create a private sector job?"

 

[oreo]

Given the fact Obama has never done anything productive in his life, this should be no surprise. He's an organizer plain and simple...all this guy knows how to do is waste loads of money he confiscates one way or another from the hardest working americans and campaign, campaign, campaign.

I never forget his comment when he went to a wind mill plant. He actually stated--"that looks like a giant surf-board"---

You're right and so is Mitt Romney on Obama. How can you expect someone who has never worked a day in the private sector to actually create a private sector job?


What this country did--was elect a community organizer--Harvard graduate--most intellectual President of all time--and now amateur golfer--and expect him to actually KNOW something about the nuts and bolts of this economy?---HELLO.

One Big Ass Mistake America!

View attachment 15080

Yea Romney nailed it for sure. "How can you expect someone who has never worked a day in the private sector to actually create a private sector job?"

I don't think any other candidate has come up with a more true quote than that one. It explains it perfectly in one single sentence--so as to not confuse a libtard--

 

[Charles_Main]

Update: Solyndra announces it plans to file Chapter 11 bankruptcy, is suspending operations and seeks a reorganization. Click here for the company's full statement.

Solyndra, a major manufacturer of solar technology in Fremont, has shut its doors, according to employees at the campus.

"I was told by a security guard to get my [stuff] and leave," one employee said. The company employs a little more than 1,000 employees worldwide, according to its website.

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.

The company has said it will make a statement at 9am California time, though it's not clear what that statement will be. An NBC Bay Area photographer on the scene reports security guards are not letting visitors on campus. He says "people are standing around in disbelief." The employees have been given yellow envelopes with instructions on how to get their last checks.

Solyndra was touted by the Obama administration as a prime example of how green technology could deliver jobs. The President visited the facility in May of last year and said "it is just a testament to American ingenuity and dynamism and the fact that we continue to have the best universities in the world, the best technology in the world, and most importantly the best workers in the world. And you guys all represent that. "

The federal government offered $535 million in low cost loan guarantees from the Department of Energy. NBC Bay Area has contacted the White House asking for a statement.

Some Republicans have been very critical of the loans. "I am concerned that the DOE is providing loans and loan guarantees to firms that aren't capable of competing in the global market, even with government subsidies" Florida Congressman Cliff Stearns told the New York Times.

So there goes another 535 MILLION taxpayer dollars down the toilet.

One Big Ass Mistake America

View attachment 15070

2012 cannot come soon enough.

You can not force an Industry to be Profitable. The Truth is the Private Sector would be in to the Green Economy, if it was profitable and sustainable. Currently it is not. No amount of throwing Money at it by DC will change that.

 

[boedicca]

You can not force an Industry to be Profitable. The Truth is the Private Sector would be in to the Green Economy, if it was profitable and sustainable. Currently it is not. No amount of throwing Money at it by DC will change that.

Indeed you cannot. But that's not the point. The point is to make the transfer of taxpayer money to favorite constituents "profitable"...for them.

 

[LibocalypseNow]

This whole scam was just pay-back for helping him get elected. These idiots were all his buddies. It really should be investigated. Who stands up for the Tax Payers? This is a crime in my opinion.

 

[oreo]

Update: Solyndra announces it plans to file Chapter 11 bankruptcy, is suspending operations and seeks a reorganization. Click here for the company's full statement.

Solyndra, a major manufacturer of solar technology in Fremont, has shut its doors, according to employees at the campus.

"I was told by a security guard to get my [stuff] and leave," one employee said. The company employs a little more than 1,000 employees worldwide, according to its website.

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.

The company has said it will make a statement at 9am California time, though it's not clear what that statement will be. An NBC Bay Area photographer on the scene reports security guards are not letting visitors on campus. He says "people are standing around in disbelief." The employees have been given yellow envelopes with instructions on how to get their last checks.

Solyndra was touted by the Obama administration as a prime example of how green technology could deliver jobs. The President visited the facility in May of last year and said "it is just a testament to American ingenuity and dynamism and the fact that we continue to have the best universities in the world, the best technology in the world, and most importantly the best workers in the world. And you guys all represent that. "

The federal government offered $535 million in low cost loan guarantees from the Department of Energy. NBC Bay Area has contacted the White House asking for a statement.

Some Republicans have been very critical of the loans. "I am concerned that the DOE is providing loans and loan guarantees to firms that aren't capable of competing in the global market, even with government subsidies" Florida Congressman Cliff Stearns told the New York Times.

So there goes another 535 MILLION taxpayer dollars down the toilet.

One Big Ass Mistake America

View attachment 15070

2012 cannot come soon enough.

You can not force an Industry to be Profitable. The Truth is the Private Sector would be in to the Green Economy, if it was profitable and sustainable. Currently it is not. No amount of throwing Money at it by DC will change that.

Obama wouldn't know a profitable company from a loser--that's obvious. It's we the TAXPAYERS of this country that just got STUCK with another 535 MILLION dollars plus interest on this loan because OBAMA wanted to fund this company with a taxpayer funded guaranteed loan.

If this was Obama's money--I wouldn't be complaining--but it's our money.

 

[Ame®icano]

It seems there will be investigation...

Panel: Green jobs company endorsed by Obama and Biden squandered $535 million in stimulus money

Read more: http://dailycaller.com/2011/02/22/panel-green-jobs-company-endorsed-by-obama-and-biden-squandered-535-million-in-stimulus-money/#ixzz1XBmKJzy8


From the link:

A closer look at the company shows it has never turned a profit since it was founded in 2005, according to its Securities and Exchange Commission (SEC) filings.

And Solyndra’s auditor declared that “the company has suffered recurring losses, negative cash flows since inception and has a net stockholders’ deficit that, among other factors, [that] raise substantial doubt about its ability to continue as a growing concern” in a March 2010 amendment to its SEC registration statement.

“While we understand the purpose of the Loan Guarantee Program is to help private companies engaging in clean energy products to obtain financing by providing loan guarantees, subsequent events raise questions about Solyndra was the right candidate to receive a loan guarantee in excess of half a billion dollars,” Upton and Stearns wrote.

A June 2010 Wall Street Journal report indicating that Solyndra’s majority owner, Oklahoma billionaire George Kaiser, was a major fundraiser for the 2008 Obama-Biden campaign has stimulus opponents such as Citizens Against Government Waste crying foul.

 

[LibocalypseNow]

It seems there will be investigation...

Panel: Green jobs company endorsed by Obama and Biden squandered $535 million in stimulus money

Read more: http://dailycaller.com/2011/02/22/panel-green-jobs-company-endorsed-by-obama-and-biden-squandered-535-million-in-stimulus-money/#ixzz1XBmKJzy8


From the link:

A closer look at the company shows it has never turned a profit since it was founded in 2005, according to its Securities and Exchange Commission (SEC) filings.

And Solyndra’s auditor declared that “the company has suffered recurring losses, negative cash flows since inception and has a net stockholders’ deficit that, among other factors, [that] raise substantial doubt about its ability to continue as a growing concern” in a March 2010 amendment to its SEC registration statement.

“While we understand the purpose of the Loan Guarantee Program is to help private companies engaging in clean energy products to obtain financing by providing loan guarantees, subsequent events raise questions about Solyndra was the right candidate to receive a loan guarantee in excess of half a billion dollars,” Upton and Stearns wrote.

A June 2010 Wall Street Journal report indicating that Solyndra’s majority owner, Oklahoma billionaire George Kaiser, was a major fundraiser for the 2008 Obama-Biden campaign has stimulus opponents such as Citizens Against Government Waste crying foul.

Thanks for the info. Yea i believe this was a terrible crime. These assholes were all his buddies who helped him get elected. Someone needs to stand up for the Taxpayers.

 

[OohPooPahDoo]

So there goes another 535 MILLION taxpayer dollars down the toilet.

One Big Ass Mistake America

View attachment 15070

2012 cannot come soon enough.

Says it offered them the loan. Where does it say they took it?

1000 employees--say's a business needs a lot of capital--a low interest Guaranteed loan was more than likely taken--or why would they even mention it in the article. You'll note the republican response in the last paragraph-- indicating it was taken.

So we know it was actually taken just because the Republicans say so?

 

[signelect]

It would be very interesting to know how much the major players were in this, another Obama scandal", walked away with. I will be anything that they are not broke but stinking rich on my money. Way to go Barry.