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Solar Co. Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Posted by: WingNut ()
Date: August 31, 2011 12:02PM

http://www.nbcbayarea.com/news/local/Solyndra-Shutting-Down-128802718.html




[the company] 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.




idontlikebeingrightaboutshitlikethisbutiam



Edited 21 time(s). Last edit at 5/31/1967 05:57AM by WingNut.

Last edit at 11/30/2015 01:37PM Last edit at 5/14/2015 03:52PM Last edit at 1/28/2014 05:57AM Last edit at 11/29/2015 01:10PM Last edit at 3/14/2011 11:52PM Last edit at 7/20/2012 04:07AM
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Edited 1 time(s). Last edit at 08/31/2011 06:16PM by WingNut.


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Re: Solar Company Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Date: August 31, 2011 12:36PM

The story isn't clear if the company actually received those loan guarantees. They said they would go belly-up if they didn't get them. Maybe they didn't.

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http://bible.cc/1_corinthians/13-11.htm

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Re: Solar Company Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Posted by: sadfsadf ()
Date: August 31, 2011 12:42PM

Who feeds this shit to Wingnut? The Republican propaganda machine is rather incredible and sophisticated. They are excellent on planting ideas of racism without ever saying the words. I wish the Dems had such a force behind them. Some day a bright reporter will find a chink in their armor and make a name for him/herself.

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Re: Solar Company Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Posted by: WingNut ()
Date: August 31, 2011 12:43PM




Solyndra, Inc. was supposed to have showcased the effectiveness of the Obama administration’s stimulus and green jobs initiatives, but instead it has become the center of congressional attention for waste, fraud and abuse of such programs.

According to a Feb. 17 letter signed by Energy and Commerce Committee Chairman Fred Upton, Michigan Republican, and Oversight Subcommittee Chairman Cliff Stearns, Florida Republican, to Energy Secretary Steven Chu, the Fremont, Calif.-based solar panel manufacturer should never have received a $535 million loan guarantee from the stimulus.*

The company became the first recipient of an Energy Department loan guarantee under the stimulus in March 2009, which was intended to “finance construction of the first phase of the company’s new manufacturing facility” for photovoltaic solar panels.

The Energy Department estimated in a March 20, 2009 press release that the loan guarantee would create 3,000 construction jobs and a further 1,000 jobs after the plant opened.

And President Barack Obama and Vice President Joseph Biden each personally showcased Solyndra as an example of how stimulus dollars were at work creating jobs, during appearances at the company over the course of the following year.

Biden personally announced the closure of Solyndra’s $535 million loan guarantee in a Sept. 9, 2009 speech, delivered via closed-circuit television, on the occasion of the groundbreaking of the plant.

The vice president justified the federal government’s investment in Solyndra in front of employees and other dignitaries, including Secretary Chu and former Calif. Gov. Arnold Schwartzenegger, saying the jobs the company intended to create would “serve as a foundation for a stronger American economy.”

“These jobs are the jobs that are going to define the 21st century that will allow America to compete and to lead like we did in the 20th century,” Biden said.

According to Biden’s speech, the $535 million loan guarantee was a smaller part of the $30 billion of stimulus money the administration planned to spend as part of its Green Jobs Initiative.

Obama made similar claims in a May 26, 2010 speech at the plant, but the 1,000 jobs he and Biden touted in their respective speeches failed to materialize.



Read more: http://dailycaller.com/2011/02/22/panel-green-jobs-company-endorsed-by-obama-and-biden-squandered-535-million-in-stimulus-money/#ixzz1Wcq2WCzC


A little something from the LA Times too...

http://latimesblogs.latimes.com/washington/2011/02/solyndra-obama-biden-stimulus-waste.html

House members probe $535-million loan guarantee by Obama Energy Dept. for Solyndra solar plant



Here's a sad and revealing chronology about a U.S. president named Obama, a California company named Solyndra and, now, a congressional investigation into the administration's loan guarantee of $535 million in a failed green energy project that was supposed to create jobs.

But it didn't.

At enormous taxpayer cost.

The story starts in the early 2009 days of the Democratic administration of Barack Obama and the hastily written economic stimulus legislation passed by the whopping Democratic congressional majorities of Sen. Harry Reid of Nevada and House Speaker Nancy Pelosi of San Francisco.

You'll remember it was very important to pass the $787-billion economic stimulus bill as quickly as possible then to keep the 7.1% national unemployment rate from rising further. Today, it's 9%. So, that didn't work out well, either.

Remember President Obama went to the Caterpillar plant in his home state of Illinois and said ....

... the worthy stimulus funds would enable the heavy-equipment giant to start hiring again? And Caterpillar's president said, well, no, not really. He foresaw more layoffs first. But the urgent flow of news moved on because it was very important to get that borrowed money moving out the door as quickly as possible.
Back in those days, the term "shovel-ready" wasn't a joke. It was a promise to put this money to work creating jobs ASAP so Obama could get on with the business of his beloved healthcare bill.

Obama had the idea that since he was going to spend three-quarters of a trillion dollars anyway, why not put a fair chunk of that dough into kick-starting green energy projects, which often need subsidies because they're still not economically practical to work on their own? Potentially win-win. Or not.

On Sept. 9 that year in a special closed-circuit TV program for the groundbreaking of Solyndra's new plant, Vice President Joe "Recovery Summer" Biden announced the signing of the $535-million federal loan guarantee, the Energy Department's first under the stimulus plan.

Joe said, "These jobs are the jobs that are going to define the 21st century that will allow America to compete and to lead like we did in the 20th century.”
The money would finance construction of a Solyndra facility, creating 3,000 construction jobs and 1,000 full-time positions in the modern plant making photovoltaic solar panels.

Because it was such a promising venture, Obama himself visited Fremont eight months later (see photos here and video report here) to hail his administration's decision to move in that direction.

The president said the facility was "leading the way to a brighter and more prosperous future" and the plant was "a testament to American ingenuity and the best workers in the world."

He said high-tech facilities like Solyndra would help "lay a new foundation for lasting growth."

Then came last November, the day after the midterm elections when everyone was focused on the historic shift to Republican control of the House. Solyndra announced then that not only was it not going to create those 1,000 full-time jobs so eagerly hailed by Obama and Biden, but it also was going to close an older factory and actually lay off 175 full- or part-time workers.

That left U.S. taxpayers holding the financial bag for nearly three-quarters of that loan guarantee, about $390 million.

(Clarification: A Solyndra spokeswoman notes "the Department of Energy guaranteed private loans at the height of an unprecedented credit crisis to free up private dollars for a growing – and threatened – strategic industry. These are private loans that Solyndra plans to fully pay back."

(The spokeswoman adds: "To lower costs in the face of intense, subsidized Chinese competition, the company ended production at its old manufacturing facility “Fab 1” in November 2010. That facility had nothing to do with the loan guarantee. Fab 2, a facility currently churning out 1,000 panels, 7 days a week was constructed using the guarantee. The taxpayers have not had to cover any of the company’s loans.")

But now Fred Upton and Cliff Stearns, chairmen of the House Energy and Commerce Committee and Oversight Subcommittee, have been examining the company's financials and the possibility of waste and fraud. Since its 2005 founding, it seems that Solyndra has never made a profit and its own auditor had raised serious questions that did not slow or stop the immense guarantee's approval by the Obama administration.

Last week Upton and Stearns wrote Energy Secretary Steven Chu. The Republicans said:

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 if Solyndra was the right candidate to receive a loan guarantee in excess of half a billion dollars.
Oh, one other thing: The majority owner of Solyndra is George Kaiser. He's an Oklahoma billionaire. He was also a bundler, a major fundraiser, for the 2008 presidential campaign of Barack Obama and Joe Biden.

But that's probably coincidence.




idontlikebeingrightaboutshitlikethisbutiam



Edited 21 time(s). Last edit at 5/31/1967 05:57AM by WingNut.

Last edit at 11/30/2015 01:37PM Last edit at 5/14/2015 03:52PM Last edit at 1/28/2014 05:57AM Last edit at 11/29/2015 01:10PM Last edit at 3/14/2011 11:52PM Last edit at 7/20/2012 04:07AM
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Re: Solar Company Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Date: August 31, 2011 12:48PM

WingNut-

Well, as we know, private banks are so much better at calculating risk than is the government.

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http://bible.cc/1_corinthians/13-11.htm

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Re: Solar Company Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Posted by: WingNut ()
Date: August 31, 2011 12:54PM

.


idontlikebeingrightaboutshitlikethisbutiam



Edited 21 time(s). Last edit at 5/31/1967 05:57AM by WingNut.

Last edit at 11/30/2015 01:37PM Last edit at 5/14/2015 03:52PM Last edit at 1/28/2014 05:57AM Last edit at 11/29/2015 01:10PM Last edit at 3/14/2011 11:52PM Last edit at 7/20/2012 04:07AM
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Re: Solar Company Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Posted by: SoylentGreen ()
Date: August 31, 2011 12:56PM

sadfsadf Wrote:
-------------------------------------------------------
> Who feeds this shit to Wingnut? The Republican
> propaganda machine is rather incredible and
> sophisticated. They are excellent on planting
> ideas of racism without ever saying the words. I
> wish the Dems had such a force behind them. Some
> day a bright reporter will find a chink in their
> armor and make a name for him/herself.


Aint that just rich.

Pleases point out said racism and don't forget the part where you picked on the Asians.

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Re: Solar Company Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Posted by: sumguy ()
Date: August 31, 2011 02:09PM

You shouldn't use the racist term "chink" they prefer to be called asian americans or by their name.

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Re: Solar Company Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Posted by: WingNut ()
Date: August 31, 2011 02:43PM

So is Obumma going to be considered a "good one term" president?

He sure knows how to "make an investment in America's future", doesn't he?


idontlikebeingrightaboutshitlikethisbutiam



Edited 21 time(s). Last edit at 5/31/1967 05:57AM by WingNut.

Last edit at 11/30/2015 01:37PM Last edit at 5/14/2015 03:52PM Last edit at 1/28/2014 05:57AM Last edit at 11/29/2015 01:10PM Last edit at 3/14/2011 11:52PM Last edit at 7/20/2012 04:07AM
Last edit at 6/29/2013 11:18PM Last edit at 3/19/2011 01:02PM Last edit at 3/26/2012 09:07PM


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Re: Solar Company Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Date: August 31, 2011 02:46PM

sumguy Wrote:
-------------------------------------------------------
> You shouldn't use the racist term "chink" they
> prefer to be called asian americans or by their
> name.


theres-a-chink-in-my-armor.jpg

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http://bible.cc/1_corinthians/13-11.htm

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Re: The year 2000 was 15 years ago so technically, soon I am supposed to start feeling nostalgia for the year 2000 right? except I am not I still think everything from the year 2000 onward SUCKED ASS.
Posted by: WingNut ()
Date: August 31, 2011 03:49PM

This story is getting a lot of press. The consensus is basically it was a waste of taxpayer "stimulus" cash and that Obama is a jackoff.


http://www.forbes.com/sites/toddwoody/2011/08/31/what-solyndras-bankruptcy-means-for-silicon-valley-solar-startups/

http://www.washingtonpost.com/politics/solyndra-solar-company-fails-after-getting-controversial-federal-loan-guarantees/2011/08/31/gIQAB8IRsJ_story.html

http://www.bloomberg.com/news/2011-08-31/solyndra-to-file-for-bankruptcy-mulls-sale-and-licensing-deals.html

http://www.cbsnews.com/stories/2011/08/31/scitech/main20099928.shtml


idontlikebeingrightaboutshitlikethisbutiam



Edited 21 time(s). Last edit at 5/31/1967 05:57AM by WingNut.

Last edit at 11/30/2015 01:37PM Last edit at 5/14/2015 03:52PM Last edit at 1/28/2014 05:57AM Last edit at 11/29/2015 01:10PM Last edit at 3/14/2011 11:52PM Last edit at 7/20/2012 04:07AM
Last edit at 6/29/2013 11:18PM Last edit at 3/19/2011 01:02PM Last edit at 3/26/2012 09:07PM



Edited 1 time(s). Last edit at 12/20/2015 09:27PM by WingNut.


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Re: Solar Company Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Posted by: it is written ()
Date: August 31, 2011 03:58PM

WingNut Wrote:
-------------------------------------------------------
> So is Obumma going to be considered a "good one
> term" president?
>
> He sure knows how to "make an investment in
> America's future", doesn't he?

Obama will win a second term for several reasons. He has the votes of blacks, admit it or not they vote for him due to his race. He has the support of the unemployed who will continue to receive benefits as long as he keeps extending them another two or more years. He will soon have 25 million illegals to add to his democratic base since he is about to offer full amnesty and citizenship to them.

He has union support after using taxpayers dollars to fund their bankrupt Cadillac health care plans . You have government workers who receive better pay than the private sector and much better benefits. Lastly you have the true Kool Aid drinkers who will pull the D no matter how unqualified the candidate is, see Jim Moran for example.

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Re: Solar Company Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Posted by: FOR THE LOVE OF GOD ()
Date: August 31, 2011 04:35PM

Please remove that hideous photoshop with Obama's head on it!! I damn near vomitted I'll admit i cracked up though!

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Re: Solar Company Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Posted by: Cheney ()
Date: August 31, 2011 04:48PM

Hey scumbag...how about a little outrage on the waste associated with the decade..that would mean 8 years of Bush and 2 years of Obama...on the wars your war crimianl president started!

http://www.foxnews.com/politics/2011/08/31/panel-widespread-waste-and-fraud-in-war-spending/?icid=maing-grid10%7Chtmlws-main-bb%7Cdl20%7Csec3_lnk1%7C91627

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Re: Solar Company Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Posted by: Freedom ()
Date: August 31, 2011 05:16PM

sadfsadf Wrote:
-------------------------------------------------------
> Who feeds this shit to Wingnut? The Republican
> propaganda machine is rather incredible and
> sophisticated. They are excellent on planting
> ideas of racism without ever saying the words. I
> wish the Dems had such a force behind them. Some
> day a bright reporter will find a chink in their
> armor and make a name for him/herself.

Any third grader can see through the Republican propaganda machine. The only people who believe the GOP bullshit are GOP zombies who are blindly following the GOP off the cliff.

The last thing the Democratic party needs is some bullshit artist spinning out stories that are completely slanted like the GOP.

It's obvious that Wingnut has some mental deficiencies, why should Democrats follow in his mental illness.

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Re: Solar Company Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Posted by: FMA ()
Date: August 31, 2011 05:40PM

Freedom Wrote:
-------------------------------------------------------
>
> The last thing the Democratic party needs is some
> bullshit artist spinning out stories that are
> completely slanted like the GOP.
>

You mean like the Washington Post and NBC?

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Re: Solar Company Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Posted by: srfasaef ()
Date: August 31, 2011 05:43PM

Freedom Wrote:
-------------------------------------------------------
> sadfsadf Wrote:
> --------------------------------------------------
> -----
> > Who feeds this shit to Wingnut? The Republican
> > propaganda machine is rather incredible and
> > sophisticated. They are excellent on planting
> > ideas of racism without ever saying the words.
> I
> > wish the Dems had such a force behind them.
> Some
> > day a bright reporter will find a chink in
> their
> > armor and make a name for him/herself.
>
> Any third grader can see through the Republican
> propaganda machine. The only people who believe
> the GOP bullshit are GOP zombies who are blindly
> following the GOP off the cliff.
>
> The last thing the Democratic party needs is some
> bullshit artist spinning out stories that are
> completely slanted like the GOP.
>
> It's obvious that Wingnut has some mental
> deficiencies, why should Democrats follow in his
> mental illness.


Because it's effective. Millions watch Fox News and it is the same thing. JC they have the Republican Party talking like the John Birch Society. They control the agenda. One Republican pharts that we ought to get rid of FEMA and every network is following it.

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Re: Solar Company Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Posted by: WingNut ()
Date: August 31, 2011 06:00PM

Who says I believe in the GOP? Of course I do about some things and not about others.

The Democrat Party on the other hand is a much larger fraud with a much broader and complicit group of conspirators and accomplices. This explains how much of Bushes war and counterterrorism policy was followed by Obama with none of the outrage or dissent that his predecessor got.

Let's stick to the subject at hand though, kids. This post is about yet another wasteful Obambi program that was supposed to get America back to work.

Should we stay the course?


idontlikebeingrightaboutshitlikethisbutiam



Edited 21 time(s). Last edit at 5/31/1967 05:57AM by WingNut.

Last edit at 11/30/2015 01:37PM Last edit at 5/14/2015 03:52PM Last edit at 1/28/2014 05:57AM Last edit at 11/29/2015 01:10PM Last edit at 3/14/2011 11:52PM Last edit at 7/20/2012 04:07AM
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Re: Solar Company Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Posted by: WingNut ()
Date: August 31, 2011 06:50PM

Hey, more juicy goodies from politico.com...




Besides questioning whether the company was a poor risk, critics have seized on news reports that one of Solyndra's prime financial backers was an Obama campaign bundler in 2008.



Read more: http://www.politico.com/news/stories/0811/62440.html#ixzz1WeKlPZmP

What more do we need? Looks like a potential quid pro quo worthy of a treason trial and a decade or two in Leavenworth.

Maybe it was Obumma being stupid, maybe it was Obumma being criminal.

I want the facts!


idontlikebeingrightaboutshitlikethisbutiam



Edited 21 time(s). Last edit at 5/31/1967 05:57AM by WingNut.

Last edit at 11/30/2015 01:37PM Last edit at 5/14/2015 03:52PM Last edit at 1/28/2014 05:57AM Last edit at 11/29/2015 01:10PM Last edit at 3/14/2011 11:52PM Last edit at 7/20/2012 04:07AM
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Re: Solar Co. Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Posted by: Atom ()
Date: August 31, 2011 07:05PM

I can't wait to hear what WingNut spouts after next years election.

Weather it's Obama or the Fourth Reich I hope we'll benefit from his wisdom to light our future path.

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Re: Solar Co. Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Posted by: WingNut ()
Date: August 31, 2011 07:13PM

Atom Wrote:
-------------------------------------------------------
> I can't wait to hear what WingNut spouts after
> next years election.
>
> Weather it's Obama or the Fourth Reich I hope
> we'll benefit from his wisdom to light our future
> path.

SO whaddya think 'bout the half billion wasted?

You cool with that?


idontlikebeingrightaboutshitlikethisbutiam



Edited 21 time(s). Last edit at 5/31/1967 05:57AM by WingNut.

Last edit at 11/30/2015 01:37PM Last edit at 5/14/2015 03:52PM Last edit at 1/28/2014 05:57AM Last edit at 11/29/2015 01:10PM Last edit at 3/14/2011 11:52PM Last edit at 7/20/2012 04:07AM
Last edit at 6/29/2013 11:18PM Last edit at 3/19/2011 01:02PM Last edit at 3/26/2012 09:07PM


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Re: Solar Co. Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Posted by: Atom ()
Date: August 31, 2011 07:40PM

(the following does not mean that I, or you, should buy into WingNutts' "facts")

I'd rather spend a half billion on start ups than hand it to a millionair to park in a savings account somewhere.

You know baseball? Do you get a hit every time you step up to bat? Is that a reason to not play the game.

Your reasoning defines market stagnation. That why investments have the potential to give you a return, because there are risks of failure. Unless your Bernie Madoff who, I'm sure, endorsed the Bush Tax Cuts anD republican theories of government oversight.



Edited 2 time(s). Last edit at 08/31/2011 07:42PM by Atom.

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Re: Solar Co. Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Posted by: tomahawk ()
Date: August 31, 2011 07:47PM

"Oh, one other thing: The majority owner of Solyndra is George Kaiser. He's an Oklahoma billionaire. He was also a bundler, a major fundraiser, for the 2008 presidential campaign of Barack Obama and Joe Biden."

Figures.

I guess if you're an Obama supporter and you can't disprove this story, you could always try to change the subject by whining about Bush some more.

Oh...looks like some of you are already doing that.

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Re: Solar Co. Touted by Obama, Given Half Billion $ is BANKRUPT (Another Green Jobs Failure)
Posted by: Full of Crap ()
Date: September 04, 2011 09:32AM

Face the facts libtards!!
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