There just aren’t enough hours in the day to keep up with all of this crap. Pardon my French. But this green jobs agenda of President Obama’s is a steaming pile, and we’re paying for it.
The latest example is the solar company Solyndra which received about $500 million in federal loan guarantees and Obama touted as an example of the promise of green jobs. Where are they now? Shut down and headed to bankruptcy court, that’s where.
The California solar panel manufacturer that received a high-profile $535-million Energy Department loan guarantee said it was ceasing operations, laying of 1,100 workers and preparing to file for bankruptcy protection.
Solyndra of Fremont, Calif., said it had been rocked by stifling global economic conditions and faced heavy competition from Chinese firms that were undercutting it on costs.
It was quite a fall from late 2009, when Solyndra received a $535-million federal loan guarantee as part of the $787-billion economic stimulus package. In May 2010, company executives hosted President Obama on a factory tour and said they expected to add employees.
But in July of this year, management was grilled on Capitol Hill by House Republicans, who said that there were indications that the company was in weak financial condition and wasn’t a good choice for the loan program.
Solyndra would become the third such company to file for bankruptcy in recent days. …
Well there’s a record to run on! Green jobs for everybody, until your company goes bankrupt. The you’re on your own. Sorry folks, park’s closed.
Check out American Power and The Pirate’s Cove for more on this taxpayer funded debacle.
Ironic Surrealism linked – thanks!
Da TechGuy also linked, and compares the Solyndra debacle to the now bankrupt Evergreen Solar touted by Mass. Governor Deval Patrick, who showered the company with taxpayer funds.
Tags: bankruptcy, fail, federal, green jobs, loans, obama, Solyndra
[...] Solyndra – Another Obama Green Jobs Fail [...]
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[...] of dollars of government support to “create jobs” now files for Bankruptcy leaving taxpayers paying the bill, workers out of work and pols scrambling for [...]
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[...] of dollars of government support to “create jobs” now files for Bankruptcy leaving taxpayers paying the bill, workers out of work and pols scrambling for [...]
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[...] of dollars of government support to “create jobs” now files for Bankruptcy leaving taxpayers paying the bill, workers out of work and pols scrambling for [...]
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How about that hope and change the company hoped that they would get money from the gov’t and we are now stuck with very little change in alternative energy con game. Where did the 500 million go to? There are 4 major companies that produce the so called alternative energy products they employe a total of 93 thousand Americans for now until they go broke and move to china. Drill America we got enough here and the arabs can choke on their oil along with hugo chavez. Just look what happened here in Mass. and the company refuses to pay back the sap payers of Ma. Take the “green dream” and dump it
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