Posts tagged Solyndra
TW3 & fotografia la dolce vita
verum honorem
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An idea whose time is long overdue…!!
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Obama was personally briefed on Solyndra…!
President Obama’s staff arranged for him to be personally briefed last summer on a loan program to help clean-energy companies, two months before the program was thrust into headlines by the collapse of its flagship, the solar company Solyndra, records show.
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The Harry Reid Solyndra…
Nevada Sen. Harry Reid, U.S. Rep. Shelley Berkley, D-Nev., and Gov. Brian Sandoval were among the political leaders who lauded the company when it announced it would start making solar panels in the Golden Triangle Industrial Park. Reid in particular has pushed for solar energy research and development in Nevada, drawing parallels between the value of Nevada sunshine and Saudi Arabian oil.
http://www.lvrj.com/business/amonix-closes-north-las-vegas-solar-plant-after-14-months-heavy-federal-subsidies-162901626.html
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Taxpayers on the hook for more than $500 million…
Newly-released documents show that nearly 1,900 people lost their jobs when Fremont’s Solyndra Solar Panel maker failed last year, hundreds more than the company’s initial claim.
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Where did all the money go…?
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Probe to be “thorough” and “rigorous
Right…!
Just like ‘Fast and Furious’ or Solyndra
…wake me when it’s over
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
He said he expects the probe to be “thorough” and “rigorous” — and that if the allegations turn out to be true, “then of course I’ll be angry.”
Read more: http://www.foxnews.com/politics/2012/04/15/congress-to-probe-secret-service-prostitution-scandal/#ixzz1sA8anyPR
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Solyndra welcomes you to your new scam, I mean home…!
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The grass always looks greener…
…Solyndra for instance
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Bonuses given after raises at Solyndra
Worker incentive paid during bankruptcy
The disclosure drew sharp criticism from U.S. Bankruptcy Judge Mary Walrath, who called it “shocking” that the company had not disclosed the pay raises in its bonus request.”
http://www.washingtontimes.com/news/2012/feb/22/bonuses-given-after-raises-at-solyndra/
Solyndra staff “mutiny”
before Obama visit
much more…
http://www.reuters.com/article/2011/12/01/us-usa-solyndra-mutiny-idUSTRE7B02DQ20111201
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“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”
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President Obama Monday said he does not regret a half-billion dollar government loan to the now-bankrupt solar energy company Solyndra and vigorously defended his administration’s policy of providing assistance to similar entities.
“No I don’t,” the president said when asked directly if he regretted the $535 million federal loan guarantee in 2009. “Because if you look at the overall portfolio of loan guarantees that had been provided, overall it’s doing well. And what we always understood is that not every single business is going to succeed in clean energy.”
The comments came in an interview with ABC and Yahoo News.
Obama specifically touted Solyndra in a visit to its California headquarters in 2010 but the company closed shop just over a year later, putting more than 1,000 people out of work and leaving the government unlikely to get back all the money it loaned.
Meanwhile, e-mails revealed by a House Energy and Commerce Committee investigation indicate at least some members of the administration expressed trepidation over the firm’s financial health before the loan was approved.
Obama brushed aside those contentions in the interview Monday, saying that “hindsight is always 20-20.”
Meanwhile, top Solyndra executives refused to testify before the House Energy and Commerce Committee last month, leading the Justice Department to seek additional oversight in the bankruptcy proceeding
more…
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![White House Email: ‘Coming Storm’ Over Solyndra
and Other Inside DOE Deals’
New internal White House emails reveal that a scathing critique of Energy Secretary Steven Chu by a former Obama political advisor was widely circulated at the highest levels of the administration.
The Feb. 25, 2011 email that sparked the deliberations landed on West Wing desks just as the solar energy firm Solyndra was starting to show outward signs of financial trouble. It was sent by Dan Carol, a former Obama campaign staffer and clean energy advocate who was described by Obama’s then-Chief of Staff Pete Rouse as someone whose views “reflect the President’s general philosophy on energy policy.”
Carol’s four-page proposal to restructure the Energy Department included the blunt recommendation that Chu be fired, and that his leadership team also be replaced, calling it time for “serious changes, even if they are uncomfortable to make.”
”I would respectfully suggest that the president be strongly encouraged to make major leadership changes as soon as possible,” Carol wrote.
Carol also predicted the political fallout that would result from what he saw as inevitable failures of the Energy Department’s now-embattled loan guarantee program. He made the dire predictions when advising that Obama replace Chu with someone who was not “too associated … with [the] Silicon Valley business elite.”
”Not because they aren’t talented,” Carol writes, “but because that appointment will be caught up in the wave of GOP attacks that are surely coming over Solyndra and other inside DOE deals that have gone to Obama donors and have underperformed. No reason to fuel that coming storm, and believe me it will come.”](http://25.media.tumblr.com/tumblr_lukeblI0ry1r1ct6ao1_400.gif)
White House Email: ‘Coming Storm’ Over Solyndra
and Other Inside DOE Deals’
New internal White House emails reveal that a scathing critique of Energy Secretary Steven Chu by a former Obama political advisor was widely circulated at the highest levels of the administration. The Feb. 25, 2011 email that sparked the deliberations landed on West Wing desks just as the solar energy firm Solyndra was starting to show outward signs of financial trouble. It was sent by Dan Carol, a former Obama campaign staffer and clean energy advocate who was described by Obama’s then-Chief of Staff Pete Rouse as someone whose views “reflect the President’s general philosophy on energy policy.” Carol’s four-page proposal to restructure the Energy Department included the blunt recommendation that Chu be fired, and that his leadership team also be replaced, calling it time for “serious changes, even if they are uncomfortable to make.” ”I would respectfully suggest that the president be strongly encouraged to make major leadership changes as soon as possible,” Carol wrote. Carol also predicted the political fallout that would result from what he saw as inevitable failures of the Energy Department’s now-embattled loan guarantee program. He made the dire predictions when advising that Obama replace Chu with someone who was not “too associated … with [the] Silicon Valley business elite.”
”Not because they aren’t talented,” Carol writes, “but because that appointment will be caught up in the wave of GOP attacks that are surely coming over Solyndra and other inside DOE deals that have gone to Obama donors and have underperformed. No reason to fuel that coming storm, and believe me it will come.”
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Shocker…!
Harry Reid’s Senate Doesn’t Care about Solyndra
The investigation is probing decisions top administration officials made in approving the loan guarantee and throughout the two years the government was on the hook for Solyndra’s loan.
But the Democratic-controlled Senate has not held a Solyndra hearing and has no plans to.
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Administration Seeking Half-Trillion Dollar
Currently, the administration is under fire for a $535 million loan to the solar panel firm Solyndra, a company that President Barack Obama, Vice President Joe Biden and Energy Secretary Steven Chu touted as the future of America’s economic growth.
The Obama administration, as a long-term goal, sought to spend three percent of the economy – or about $450 billion – on research and development of “transformational solutions to Nation’s challenges,” and it planned to prioritize spending on “solar energy, next-generation biofuels, and sustainable green buildings and building retrofit technologies.”
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Obama’s Solyndra Problem
President Obama exaggerated when defending his administration’s approval of a $535 million loan guarantee to Solyndra, a now-defunct solar company.
Obama referred to Solyndra’s loan at an Oct. 6 press conference as “a loan guarantee program that predates me.” That’s not accurate. It’s true that the Energy Policy Act of 2005 created a loan guarantee program for clean-energy companies developing “innovative technologies.” But Solyndra’s loan guarantee came under another program created by the president’s 2009 stimulus for companies developing “commercially available technologies.”
The president also overstated past Republican support for the program, saying “all of them in the past have been supportive of this loan guarantee program.” Republicans overwhelmingly opposed the American Recovery and Reinvestment Act of 2009, and some of them even voted against the Energy Policy Act of 2005 at a time when Republicans controlled both houses of Congress.
Lastly, the president deemed the loan guarantee program “successful” overall. But it is too soon to say.
Solyndra and the Stimulus
The Republican-controlled House has been investigating whether the administration ignored red flags about Solyndra’s financial condition when it offered a $535 million loan guarantee to the start-up company. The California company announced in August it would file for bankruptcy protection — about two and a half years after receiving the loan guarantee from the Department of Energy.
Asked whether the Solyndra controversy gave him “pause about any of the decision-making going on in your administration,” Obama first talked about the loan guarantee program.
