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Solyndra controversy claims casualty as head of Energy Department loan program steps

ScienceRocks

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Solyndra controversy claims casualty as head of Energy Department loan program steps down
The Washington Post ^ | October 6, 2011 | Juliet Eilperin

The head of the Energy Department’s controversial loan guarantee program has decided to step down, department officials confirmed to The Washington Post on Thursday.

Jonathan Silver, who was named executive director of DOE’s Loan Programs Office in November 2009, has come under fire from congressional Republicans since the solar manufacturer Solyndra declared bankruptcy Aug. 31 after receiving a $535 million federal loan guarantee. While DOE made the initial loan to Solyndra before Silver took the program’s helm — a point he made repeatedly during his congressional testimony last month — he remained the administration’s point person for the embattled initiative.

Energy Secretary Steven Chu said in a statement Thursday that Silver had informed him in July, when it was clear that no significant new funds were being budgeted for the loan program, that he would leave at the end of the fiscal year.

Jonathan Silver, head of DOE loan guarantee program, to step down - The Washington Post

Hopefully Chu will fellow this piece of crap out the door next. Commie green bastard!:evil:
 

percysunshine

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Yeah, like sacrificing a minion will keep Chu in. They are trying the same thing at DOJ by demoting the F&F supervisors. I doubt it will work with a Republican Congress.
 

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Solyndra controversy claims casualty as head of Energy Department loan program steps down
The Washington Post ^ | October 6, 2011 | Juliet Eilperin

The head of the Energy Department’s controversial loan guarantee program has decided to step down, department officials confirmed to The Washington Post on Thursday.

Jonathan Silver, who was named executive director of DOE’s Loan Programs Office in November 2009, has come under fire from congressional Republicans since the solar manufacturer Solyndra declared bankruptcy Aug. 31 after receiving a $535 million federal loan guarantee. While DOE made the initial loan to Solyndra before Silver took the program’s helm — a point he made repeatedly during his congressional testimony last month — he remained the administration’s point person for the embattled initiative.

Energy Secretary Steven Chu said in a statement Thursday that Silver had informed him in July, when it was clear that no significant new funds were being budgeted for the loan program, that he would leave at the end of the fiscal year.

Jonathan Silver, head of DOE loan guarantee program, to step down - The Washington Post

Hopefully Chu will fellow this piece of crap out the door next. Commie green bastard!:evil:

:clap2::clap2: Somebody's head had to roll--but there are others involved in this administration that are also responsible for making this loan. The CEO of Solyndra was able to occupy there attention 4 TIMES at the White House in one week.
 
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ScienceRocks

ScienceRocks

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Chu needs to step down...If Obama is connected with it a article of impeachment needs to be filed in the house with the one for Gun walker.

Some of these guys need to go to prison.
 

Trajan

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well, there will be more.


SunPower: Twice As Bad As Solyndra, Twice As Bad For Obama
Congressman's son lobbied for failing solar panel company
by Neil W. McCabe
10/11/2011

How did a failing California solar company, buffeted by short sellers and shareholder lawsuits, receive a $1.2 billion federal loan guarantee for a photovoltaic electricity ranch project—three weeks after it announced it was building new manufacturing plant in Mexicali, Mexico, to build the panels for the project.

The company, SunPower (SPWR-NASDAQ), now carries $820 million in debt, an amount $20 million greater than its market capitalization. If SunPower was a bank, the feds would shut it down. Instead, it received a lifeline twice the size of the money sent down the Solyndra drain.

Two men with insight into the process are SunPower rooter Rep. George R. Miller III, (D.-Calif.), the senior Democrat on the House Education and Workforce Committee and the co-chairman of the Democratic Steering and Policy Committee, and his SunPower lobbyist son, George Miller IV.

Miller the Elder is a strong advocate for SunPower, which converted an old Richmond, Calif., Ford plant in his district to a panel-manufacturing facility.

The congressman hosted an Oct. 14, 2010, tour of the plant with company CEO Thomas H. Werner and Interior Secretary Kenneth L. Salazar to promote the company’s fortunes.




snip, the money shot-

The company is looking for a facility of up to 320,000 square feet, where it will build three different solar panel models and its solar roof tiles, according the company’s Aug. 5 statement.

Marty T. Reese, the company's chief operating officer, said, “Establishing our own manufacturing facility in Mexicali means we will be positioned to quickly deliver our high-efficiency, high-reliability solar products to a growing North American solar market.”

Mexicali Mayor Francisco Perez Tejada Padilla said he was thrilled. “Mexicali is rapidly becoming an industrial hub for high-tech companies, offering an educated workforce and a growing manufacturing area,” he said. “We welcome SunPower to our city and are pleased that they have chosen Mexicali to establish its solar panel manufacturing facility.”

The good news for Mexican jobs seekers did not affect the DOE's loan guarantee to SunPower. Hours before the DOE 1705 loan program expired at the end of Fiscal Year 2011 on Sept. 30, the $1.2 billion in loan guarantees was approved for the company.



more at-
SunPower: Twice As Bad As Solyndra, Twice As Bad For Obama - HUMAN EVENTS
 

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