Solyndra- Obama's new nightmare.

chesswarsnow

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Sorry bout that,


1. Its true.
Solyndra | White House Visits | Bankruptcy | The Daily Caller


"Not only does the now-bankrupt solar energy firm Solyndra have a cozy financial relationship with the Obama administration, company representatives also made numerous visits to the White House to meet with administration officials, The Daily Caller has learned.

According to White House visitor logs, between March 12, 2009, and April 14, 2011, Solyndra officials and investors made no fewer than 20 trips to the West Wing. In the week before the administration awarded Solyndra with the first-ever alternative energy loan guarantee on March 20, four separate visits were logged.

George Kaiser, who has in the past been labeled a major Solyndra investor as well as a Obama donor, made three visits to the White House on March 12, 2009, and one on March 13. Kaiser has denied any direct involvement in the Solyndra deal and through a statement from his foundation said he “did not participate in any discussions with the U.S. government regarding the loan.”

But the countless meetings at the White House seem hardly coincidental. Kaiser, in fact, is responsible for 16 of the 20 meetings that showed up on the White House logs.

In the meetings on March 12, Kaiser met with former Chairman of the Council of Economic Advisors Austan Goolsbee at 11 a.m., Senior Advisor Pete Rouse at 3 p.m., and Deputy Director of the Domestic Policy Council Heather Higginbottom at 6:30 p.m. On the 13th, Kaiser met with Deputy Director of the National Economic Council Jason Furman at 9 a.m.

Other Solyndra officials that made the trek over to the White House include Chairman and Founder Christian Gronet on September 22, 2009, at 9:30 a.m.; and Board Members Thomas Baruch and David Prend.

Baruch went to the White House May 7, 2010, and September 20, 2010, at 8:40 a.m. and 1 p.m., respectively. Prend visited on September 21, 2010, at 9:15 p.m. (RELATED: Bankrupt solar company with Fed backing has cozy ties to Obama administration)"



2. Think anyone will notice, *nah get outta here*...:eusa_hand:




Regards,
SirJamesofTexas
 
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Charles_Main

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Does seem very odd indeed. We give them 500 Million, they fail, and then the FBI raids the place. Are they there to find out what happened to our money or to cover up what happened to our Money.

One has to wonder.

This case Highlights one thing. The Feds are scratching their heads saying we gave them 500 Million how could they fail.

Simple. SOLAR is not viable as a profitable industry yet. Period. That is why it failed. The Chinese Produce Solar Cells for a Fraction of the Price we can, and guess what. Theirs are still not effecient enough to make Solar a viable alternative. Nothing more than a stop gap, Not an Alternative.
 

ladyliberal

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This is a potentially embarrassing situation for the President. I'm quite curious what the purpose of the FBI raid was and what it found. This is very new, and we just don't know what happened yet. Still, the characterization, "Obama And Cronies Steal One Half a Billion Dollars" is wrong on four counts.

1) Obama didn't steal anything. Asking Congress to give someone money isn't stealing.

2) There's no evidence that the responsible persons are Obama's "Cronies". Dictionary.com defines "crony" as "close friend or companion; chum". The fact that they may have attended meetings in the White House and they received money from Congress doesn't make them Obama's cronies.

3) The money wasn't stolen. The federal government guaranteed Solyndra's loans, and Solyndra took the loans using that guarantee. If they then took that money and left with it, then yes, that would be stealing. However, there's no evidence that that is what happened. If they funded an unsuccessful business with the money, that is not stealing.

4) The cost to the taxpayer will not necessarily be $500M. Companies that go bankrupt generally still have assets, which are used to pay back some of what they owe their creditors.
 

waltky

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Solyndra-gate...
:eusa_eh:
House probing $528M loan to failed solar company
14 Sept.`11 WASHINGTON – House Republicans questioned Wednesday whether the White House rushed approval of a half-billion-dollar loan guarantee for a now-bankrupt solar panel manufacturer once cited as the kind of renewable energy company worthy of federal stimulus money.
Solyndra Inc. was a major presence in Washington and spent millions of dollars on lobbying there, particularly about the Energy Department's loan guarantee program. And its executives raised thousands of dollars for Obama and Democrats in Congress. The collapse of the Fremont, Calif.-based company once touted by President Barack Obama ultimately left taxpayers on the hook for $528 million, raising questions if the loan was rushed to accommodate a company event in September 2009 that featured Vice President Joe Biden.

The congressional panel examining the loan disclosed emails that appeared to show senior staff at the Office of Management and Budget chafing about having to conduct "rushed approvals" of federal loan guarantees designed to help jumpstart the nation's renewable energy industry. "We would prefer to have sufficient time to do our due diligence reviews and have the approval set the date for the announcement rather than the other way around," said one of the emails from an unnamed OMB aide to Biden's office.

Obama cited Solyndra as an example of how the economic stimulus bill would create jobs. But the company has since filed for bankruptcy and shed 1,100 workers, saying it couldn't compete with foreign manufacturers of solar panels. Documents reviewed by The Associated Press show Solyndra spent nearly $2 million lobbying the federal government during the last four years, including on provisions of the Energy Department's loan program just months before White House officials urged that the funds be approved.

In the first quarter of 2009, Solyndra paid McBee Strategic Consulting $20,000 to lobby on issues related to the Energy Department's loan guarantee program, records show, and it paid $30,000 in early 2008 to Dutko Worldwide to handle Solyndra's loan application. Republican lawmakers on the House Energy and Commerce Committee's investigations panel are questioning why there was a rush to approve the loan and whether the entire loan guarantee program is warranted. "Our investigation raises several questions about whether the administration did everything it could to protect taxpayer dollars," said the committee's chairman, Rep. Fred Upton, R-Mich.

MORE
See also:

Obama touts jobs bill benefits for small business
Sep 14,`11 - President Barack Obama urged enthusiastic college students Wednesday to join him in his fight to get Congress to act on his new jobs bill. "Every single one of you can help make this bill a reality," the president called out at a hot and noisy rally at North Carolina State University.
Someone in the crowd yelled out, "I love you!" "If you love me you got to help me pass this bill," the president responded. It was Obama's second campaign-style rally in two days as he pushes for action on his $450 billion jobs plan. His program is running into a buzz saw of opposition from Republicans - and even some in his own Democratic Party - over his plans to raise taxes on the wealthy and corporations to pay for it. The president was in Ohio Tuesday, and last week in Virginia, as he travels key electoral states to sell the plan with the economy stuck in neutral heading into his 2012 re-election campaign.

On Wednesday Obama's focus was small businesses, which would be helped by Social Security payroll tax cuts. Before speaking, he toured WestStar Precision, a small business in the Raleigh suburb of Apex. It makes specialized components for the aerospace, medical and alternative energy industries. He also announced plans to try to speed payments to federal contractors. Republicans have accused Obama of playing politics by presenting them with tax hike ideas they've already rejected. But Obama said Wednesday, "We've got to make sure everybody pays their fair share, including the wealthiest Americans and the biggest corporations."

"It'd be nice if we could do it all, but we can't. We've got to make choices. That's what governing's about. And we know what's right," the president said. He told the students: "The time for hand-wringing is over. The time for moping around is over. We've got to kick off our bedroom slippers and put on our marching shoes." The president's trip to North Carolina, a traditionally Republican state he won in 2008, drew scorn from Republicans. "This president is in love with the sound of his own voice, he's in love with campaigning, he's in love with fundraising, and he's in love with the stump," said Republican National Committee Chairman Reince Priebus. "And he's doing what he loves to do best, which is to go to battleground states, masquerade as official business, use taxpayer money to do it, and campaign."

As the president barnstormed the country to build support for his plan, which he first unveiled last week in a speech to Congress, he drew support from House Democrats. About 50 Democratic lawmakers called Wednesday for quick passage of the jobs bill and urged Americans to make their case in calls to lawmakers. "Fourteen million people do not have 14 months to wait," said Rep. John Larson, D-Conn., who was surrounded by his colleagues on the steps of the Capitol's East Front. He was referring to the number of unemployed Americans and the time until the next election. Still, there appeared to be little if any chance that the proposal would pass Congress in one piece.

MORE
 
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chesswarsnow

chesswarsnow

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Sorry bout that,


1. Thats a lot of money.
2. Where is it?
3. Lost in less than a year?
4. Does anyone else wonder, *where is the money*?
5. A million dollars is a huge amount, 528,000,000.00 is a helluva lot more folks.:eusa_hand:
6. Obama has some of it, just goes without saying, really.:eusa_hand:



Regards,
SirJamesofTexas
 
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Maple

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This is what happens people when government uses your money to do business, they are lousy at it, everything they have done along these lines is a total failure and it costs YOU.




Solyndra Loan: Now Treasury Is Launching Investigation - ABC News
The Treasury Department's inspector general has opened a new front in the investigation of the government loan to Solyndra, the now bankrupt company that had been touted as a model of President Obama's ambitious green energy program, ABC News and the Center for Public Integrity/iWatch News have learned.

The new probe involves the $535 million loan, arranged by the Energy Department, but actually processed by the Federal Financing Bank, a government lending institution that falls under Treasury's control. Already, the FBI and the Energy Department's inspector general have executed search warrants at Solyndra's headquarters and questioned company executives.
 
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ClosedCaption

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They gave them a loan and I know repubs hate solar but companies do get loans and fail. Remember Tarp?
 

Maple

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This is what happens people when government uses your money to do business, they are lousy at it, everything they have done along these lines is a total failure and it costs YOU.

Solyndra Loan: Now Treasury Is Launching Investigation - ABC News
Somebody stole a lot of money !! Obama buying votes ??:eusa_eh:
[ame=http://www.youtube.com/watch?v=0scZmVQXP_Q]Solar Plant That Obama Visited Files For Bankruptcy, Fires Over 1,000 Workers - YouTube[/ame]
 

Maple

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This is what happens people when government uses your money to do business, they are lousy at it, everything they have done along these lines is a total failure and it costs YOU.

Solyndra Loan: Now Treasury Is Launching Investigation - ABC News
Somebody stole a lot of money !! Obama buying votes ??:eusa_eh:
[ame=http://www.youtube.com/watch?v=0scZmVQXP_Q]Solar Plant That Obama Visited Files For Bankruptcy, Fires Over 1,000 Workers - YouTube[/ame]
[ame=http://www.youtube.com/watch?v=iqVQpgeVsYw&NR=1]Solyndra bankruptcy.. - YouTube[/ame]
 

ScienceRocks

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yet this is ignored by a republican administration

How the US sent $12bn in cash to Iraq. And watched it vanishSpecial flights brought in tonnes of banknotes which disappeared into the war zone
How the US sent $12bn in cash to Iraq. And watched it vanish | World news | The Guardian

No question that sucks. Both sucked and shouldn't of never of happened without serious charges being brought on the party that did it. Democrat or republican,, if you do wrong you should be made to PAY for it.:evil:
 

Maple

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yet this is ignored by a republican administration

How the US sent $12bn in cash to Iraq. And watched it vanishSpecial flights brought in tonnes of banknotes which disappeared into the war zone
How the US sent $12bn in cash to Iraq. And watched it vanish | World news | The Guardian

No question that sucks. Both sucked and shouldn't of never of happened without serious charges being brought on the party that did it. Democrat or republican,, if you do wrong you should be made to PAY for it.:evil:
[ame=http://www.youtube.com/watch?v=ze0GhbihsVg]Obama Stimulus-Funded Solar Power Company Solyndra Goes Bankrupt - YouTube[/ame]
 

boedicca

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The FBI raid is just a Political CYA maneuver.

A DOE Representative sat in on Solyndra board meetings, and had access to the financial information provided by the board. In early 2010, Solyndra's auditors, Pricewaterhouse, issued a going concern opinion, and yet the government allowed taxpayer debt to be subordinated in a re-fi.

This pile of excrement stinks to high heaven and is full of Obama Admin DNA.
 

Maple

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yet this is ignored by a republican administration

How the US sent $12bn in cash to Iraq. And watched it vanishSpecial flights brought in tonnes of banknotes which disappeared into the war zone
How the US sent $12bn in cash to Iraq. And watched it vanish | World news | The Guardian
According to our constitution the federal government's job is to protect it's citizens, that and private property rights, it is not in the business of doing business with the people's tax dollar. They fail each and every time. In there lies a clear and distinct difference.
 
OP
chesswarsnow

chesswarsnow

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Sorry bout that,




They gave them a loan and I know repubs hate solar but companies do get loans and fail. Remember Tarp?



1. So you are actually one who thinks Obama doesn't have a large slice of that 528 million?
2. Noted.:eusa_hand:



Regards,
SirJamesofTexas
 

code1211

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This is what happens people when government uses your money to do business, they are lousy at it, everything they have done along these lines is a total failure and it costs YOU.

Solyndra Loan: Now Treasury Is Launching Investigation - ABC News
Somebody stole a lot of money !! Obama buying votes ??:eusa_eh:


Actually, it's Obama paying back campaign contributions. It's only polite, if you're from Chicago, to use my money to pay your debts. The typical method for accomplishing this is to say you're taking my money, against my will, to do one thing I don't agree with and then use the money for something else that I hate.

After the one thing has not been done, not enough money doncha know, you demand more money to get it done and pit one group of society against another to build up hate and division in order to justify the taking of more money for one stated purpose that I disagree with and used for another purpose that I detest.

In passing, it's only right to note that Solyndra was a union shop. So Solydra gets 535 million to support a union shop that goes belly up and costs 1000 jobs and the half billion dollars. Boeing creates 2000 non union jobs and gets sued by the Obama Thought Police. Gibson, with an ouspoken Republican as the CEO, creates 400 non union jobs and gets shut down by the Department of Revenge and Suppression.

Does anyone else see a pattern developing here?
 
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