Did Obama get conned....

[Dave Wettlaufer]

....or is he part of the scam?:hmm

How does a company go from being in business to bankrupt one year after Obama gave them 535 million dollars????? They also got a billion from investors!


:loser:

Solar company that Obama visited will shut down

 

[Sleek-Jet]

A flawed business model... the subsidies for solar are drying up, and even with the gov't bucks it's still spendy. With China undercutting the costs of the panels it doesn't take a rocket scientist to figure it all out.

I doubt within a year you'll be able to buy a domesticaly produced solar panel in the US.

 

[Dave Wettlaufer]

That's all well and good but why did Obama give them 535 million dollars and where is that money now???

 

[The Doctor]

Can you name all the victories this Kenyan has racked up that actually benefit anyone?
Olympics for Chicago=fail
His proposed budget=total failure with not a single vote (even Ryan's budget garnered 41 votes)
Called the TEA Party a "passing fad" = mid term "Shellacking" fail
Used Gulf Oil Spill to destroy America's Gulf oil production = fail
Promise of complete transparency = disastrous failure
Closing GITMO = fail
Failed stimulus promised to keep unemployment well under 8% = fail
Promise to place all legislation on the Internet for five days before any vote = complete fail.

The list goes on for hours but it appears he's not satisfied with his failures thus far. He needs to accumulate more before the next election so the liberals will hold their "hope and change" signs that much higher!

 

[MMD]

A flawed business model... the subsidies for solar are drying up, and even with the gov't bucks it's still spendy. With China undercutting the costs of the panels it doesn't take a rocket scientist to figure it all out.

I doubt within a year you'll be able to buy a domesticaly produced solar panel in the US.

Not at all true. The cost of modules (panels) have come way down and a number of the Chinese companies are in trouble.

 

[Old Texan]

Solar and wind are wish technologies that can't supply a high enough percentage of power to be a viable alternative.

We'll get there with alternatives one day but it takes time and work, 2 things impatient liberals can't understand because they think they are smarter than real scientists and have large egos wanting to be trendsetters.

Until politicians get out of the way amd/or realize they are better to help existing technology perform without ineffective restraints that do nothing but cost everyone money, we won't have enough left over for proper R&D of advancing technology.

The more HusseinO tries to make his legacy one of foresight and greatness, the more he solidifies it as one of failure and setback. The manchild is a legend in his own mind only......

 

[Tom Brown]

A flawed business model... the subsidies for solar are drying up, and even with the gov't bucks it's still spendy. With China undercutting the costs of the panels it doesn't take a rocket scientist to figure it all out.

China can build cheap panels but they can't build them with the efficiency of German or American panels. They aren't even close and they don't seem to be gaining any ground in the dollars per watt metric, either.

 

[Dave Wettlaufer]

It's my understanding that this company was a strait up scam. They had a handful of employees and somehow managed to lose more than a half billion dollars in 15 months.

It was a fucking scam from the start. :thumbsdown

http://abcnews.go.com/Blotter/solyndra-lowest-interest-rate/story?id=14460246

 

[ArcadiaBrad]

What the news and most people are failing to notice is that there are a huge number of suppliers to Solyndra that are now tettering on bankruptcy because of this debacle.....more "Green Jobs" lost.

 

[Not So Fast]

Its GW's fault
NSF

 

[Racey]

Is anyone surprised, this is no different than how the rest of the stimulus and bailout money was spent, it was a 'gift' to the people who got the politician into office, No different than Bush/Cheney and the Haliburton/Blackwater/Private Security/Logistics scams that have taken place in Iraq, the politicians serve to better themselves and their circle, they don't give a shit about the state of the nation, it's a self serving system and the people foot the bill.

 

[The Doctor]

It's my understanding that this company was a strait up scam. They had a handful of employees and somehow managed to lose more than a half billion dollars in 15 months.

It was a fucking scam from the start. :thumbsdown

http://abcnews.go.com/Blotter/solyndra-lowest-interest-rate/story?id=14460246

You understood correctly! This was nothing more than a payback to George Kaiser who took the lion's share of the money. Oh yeah, he was a huge fundraiser for the Kenyan's campaign.
http://abcnews.go.com/Blotter/fbi-raids-connected-energy-firm-solyndra/story?id=14473051

 

[Dave Wettlaufer]

Exactly...

 

[Dave Wettlaufer]

Solyndra loan "NOT ready for prime time," ABC News uncovers - YouTube!

September 14, 2011
Venture Socialism
Senator Jim DeMint

A year ago, President Obama jetted off to Solyndra?s California headquarters to sing its praises and tout other green energy companies his stimulus bill was funding. ?The true engine of economic growth will always be companies like Solyndra,? he said. This was part of the justification for giving the solar panel company a whopping $535 million in loans. Vice President Joe Biden also promoted the loans, saying, "These jobs are gonna be permanent jobs. These are the jobs of the future. These are the green jobs. These are the jobs that won't be exported."

A year later, Solyndra has gone bankrupt, 1,100 workers have lost their jobs, and the FBI is investigating the half-billion dollar bust.

Solyndra proves President Obama?s investment strategy doesn?t work. Venture socialism never will. Making investments based on political goals, not competitive merit is an outdated European notion?not a successful American one.

The Obama Administration?s decisions to favor companies like Solyndra, while targeting thriving job-creators like The Boeing Company and Gibson Guitar is not only unfair, it demonstrates sheer ignorance of economic principles that have made America the most prosperous country in the history of the world.

As USA Today editorialized, ?Even if Solyndra's collapse is nothing more than good intentions gone awry ? a big if ? it is a cautionary tale about why government should be extremely wary about betting tax dollars on specific companies. If there's one thing the marketplace virtually always does better than government, it's picking individual successes in an uncertain and highly competitive business. In fact, government involvement can unfairly tilt the playing field toward one company and away from competitors.?

?Extremely wary? the president is not. The White House is defending the Solyndra loan by calling it a ?high-risk, high-reward? venture and asking for even more money to hand out to favored companies and causes. Obama is now demanding that Congress pass a $450 billion bill that, if made law would create a permanent National Infrastructure Bank to fund future Solyndras of the world.

The Obama Administration shouldn?t be given another chance to attempt to pick winners and losers in the market. The government should not be permitted to micromanage the economy and decide what industries will thrive or perish. The only economic system that works is one based on free people making free decisions. Venture socialism will never produce the success that free-market capitalism has. Solyndra is proof.

 

[ikester]

THe company had to know what their liabilites were and their projections!

Why doesnt the governement hold the the top brass of this (these) corporations accountable and take back what ever assets/money these people have and jail them.

This would help stop these people from taking the money and scamming it. Any copropation of this maginitude knows what their financial situation is, and yet they take the money, OUR MONEY, we are supporting them. FUCK THEM!

Second is that the government is at major fault here for letting this money go to this company. Hold the goverment accountable. Is the government that stupid?

Obama blows!

 

[MMD]

The government should never be investing in risky high-tech startup companies with our tax dollars. And if they "must" they absolutely have to limit their investment in each company to a few million at the most.

Investing in risky high-tech companies with unproven technology and/or business models must be left to Venture Capital (VC) companies.

The governent must not risk our money on such ventures.

The government should do what it can to support US companies and that includes reducing obstacles (bureaucratic red tape, rules, regulations) and lowering taxes for startups to help them succeed.

The government can't even deliver the mail - no one should expect them to make good decisions on how to spend ("invest") billions!

And when the President has never held down a job (that we know of) or run a business or met a payroll or had employees, we are doomed!

He'll continue making these mistakes until we vote him and his buddies out!