THE USUAL OBAMA GOLDEN TOUCH: Solyndra to Declare Bankruptcy:

[busybody..]

THE USUAL OBAMA GOLDEN TOUCH: Solyndra to Declare Bankruptcy:


President Obama touted the facility only a year ago. “Solyndra, a major manufacturer of solar technology in Fremont, has shut its doors, according to employees at the campus. . . . 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.’ The federal government offered $535 million in low cost loan guarantees from the Department of Energy. NBC Bay Area has contacted the White House asking for a statement.”

 

[Icarus_Fallen]

Wow, biased much? What does President Obama have to do with the company going bankrupt? It's not his responsibility to run it for them. Also, are you trying to say a Republican president wouldn't support alternate energy and American jobs? I'm pretty sure everybody supports alternate energy and wants more American jobs, it's not a liberal or a democrat thing.

 

[koalabear]

Maybe they just need a stimulus boost, green is in!

 

[JohnnySavage]

Maybe they just need a stimulus boost, green is in!

We pay a $73 million stimulus to China every day. Their solar technology is better and cheaper as a result.

 

[Frisco_Slug_Esq]

Wow, biased much? What does President Obama have to do with the company going bankrupt? It's not his responsibility to run it for them. Also, are you trying to say a Republican president wouldn't support alternate energy and American jobs? I'm pretty sure everybody supports alternate energy and wants more American jobs, it's not a liberal or a democrat thing.

Solyndra, a manufacturer of solar panels, is bankrupt, which is inconvenient for the Obama administration, which extended half a billion dollars’ worth of loan guarantees to the firm as part of the president’s stimulus effort. The inconvenience extends to the 1,100 Solyndra employees who have just lost their jobs and to the U.S. taxpayers who may be on the hook for the bankrupt firm’s loans. The project was indeed “shovel ready,” as the president likes to put it; unhappily, in this case, the shovel belongs to the gravedigger. Perhaps the gravestone could read: “Another project funded by the American Recovery and Reinvestment Act.”

Solyndra was an irrestibly juicy piece of bait for stimulus-happy progressives. President Obama, like all Democrats, labors under a special challenge when it comes to economic affairs: His economically illiterate base spends its time decrying “corporations,” but urban-gardening cooperatives don’t create a lot of jobs, and community-based nonprofits by definition don’t create any profit, and therefore no investment capital, and therefore no economic growth. You want to see some real, sustainable, long-term jobs created, your best bet is to look to a “corporation”—“corporation” simply being the word for a business that has grown large enough or profitable enough to require the legal organization of its affairs. But if you’re Barack Obama, not just any corporation will do: It has to be just the right sort of corporation.

And boy, was Solyndra just right: It made solar panels, a product so green that Democrats could almost forget that this was a profit-oriented corporation, backed by venture capitalists, oil money, and private-equity funds, and led by a former Intel executive. The firm was in Nancy Pelosi’s back yard, and it was looking to expand, with plans to build a factory for the mass production of its photovoltaic cells. But the firm was not thriving, and those venture capitalists were not eager to put their own money on the line for that new facility. So they put your money on the line, instead.

The Government Accountability Office would later single out the Solyndra deal as an example of the government’s failing to fully vet such arrangements before approving the loan guarantees. With all those stimulus dollars burning a hole in its pocket, the Obama administration was overeager to get them spent. “If you don’t have really strong processes in place, and if you’re under pressure to get a lot of these dollars allocated, you can make unproductive decisions and ones that ultimately put taxpayers’ dollars at risk,” GAO analyst Franklin Rusco said. In fact, the administration announced its commitment to the loan guarantees before the required outside reviews were even in hand.

And as those who have followed the machinations of T. Boone Pickens know, when there’s a green-energy plan looking for a federal backstop, there’s an Oklahoma oil man behind the curtain. In the case of Solyndra it was billionaire George Kaiser, a Democratic donation bundler and a major financial supporter of Barack Obama’s 2008 campaign. Mr. Kaiser was heavily invested in the firm. Other Democratic bundlers received similarly generous treatment under the guise of green jobs, stimulus, and other expressions of President Obama’s magical thinking. It’s easy to spend several hundred billion dollars of somebody else’s money in a hurry; it’s hard to spend it well or wisely.

So, the indictment reads: wasteful, inefficient, non-transparent, irregular, unseemly, and, finally, bankrupt. The thousands of jobs the Solyndra project was supposed to create have not appeared, and more than a thousand jobs have just disappeared. The president is planning a big speech about jobs, and perhaps he’s had enough law-school Latin to know what mea culpa means.

Editors
NRO
__________________
Barry 2012 Says: ”’Shovel-ready’ was not as shovel-ready as we expected.” (Laughter)
http://pajamasmedia.com/tatler/files/2011/04/obama-wide-grin80.jpg

 

[off2bed]

The dummies at Soylenta or whatever they're called were supposed to donate their stimulus money to mysterious left wing 527 groups as protection money.

 

[busybody..]

Maybe they just need a stimulus boost, green is in!

the RED!

 

[busybody..]

OOPS: Solyndra Filing A Disaster For Obama. “Wow, which radical right-wing deathbeast Obama-hating Rethuglican Web site ran that headline? Err, NBC’s Bay Area affiliate.” Yeah, this whole “Green Jobs” thing isn’t working out so well.

 

[busybody..]

THE USUAL OBAMA GOLDEN TOUCH

He LOVES the VOLT

VOLT sells what 38 per month?

33 to the gum nit, err, I mean GE

 

[koalabear]

THE USUAL OBAMA GOLDEN TOUCH

He LOVES the VOLT

VOLT sells what 38 per month?

33 to the gum nit, err, I mean GE

Volt sales should pick up now, GM just created jobs in it's production. Batteries from Korea.

 

[busybody..]

Today’s Questions for the President

September 1, 2011 10:29 A.M.
By Peter Kirsanow


It’s reported that the new jobs plan that you will unveil next week will, once again, focus in substantial measure on “green job” creation.

What, specifically, are “green jobs” and why do their creation merit more of your attention than other jobs?

Precisely how many “green jobs” have been created in the last two and a half years? At what price per job?

How many “green jobs” need to be created over the next 14 months to fulfill your promise of lowering the unemployment rate to 5.5 percent by November 2012?

What qualifies you, or any other politician, to determine which jobs are worthy of creating?

What evidence do you have that government can create jobs for which there is little or no current market demand?

Why do you believe your government-command approach to job creation will be any more successful than had been that of, say, the Industry Secretariat of the Odessa oblast?

 

[busybody..]

The project was indeed “shovel ready,” as the president likes to put it;



unhappily, the shovel belongs to the gravedigger

 

[off2bed]

*In my Johnny Paycheck voice*







"Take this job and shovel it."