Results 1 to 10 of 16
  1. #1 When "Green Energy Stimulus" Runs Dry 
    Senior Member malloc's Avatar
    Join Date
    Apr 2009
    Queen Creek, AZ
    Quote Originally Posted by The Daily Caller

    Stimulus-backed Solyndra files for Chapter 11

    In a move that the company says will result in 1,100 layoffs, solar energy firm Solyndra announced its intent to file for Chapter 11 bankruptcy protection. The company shuttered its headquarters Wednesday.

    In a statement, Solyndra announced that it was suspending manufacturing operations and seeking bankruptcy protection.

    The company said Wednesday it would “evaluate options, including a sale of the business and licensing of its advanced CIGS [copper indium gallium diselenide] technology and manufacturing expertise” while in Chapter 11.

    President Obama extended a $535 million loan guarantee to Solyndra in the American Recovery and Reinvestment Act. One significant Solyndra investor, George Kaiser, was also a major fundraiser for Obama’s 2008 campaign.

    The Solyndra loan guarantee had been a flashpoint for critics of the Obama-backed stimulus package. The Energy Department initially estimated that the loan guarantee would create 3,000 construction jobs and a further 1,000 manufacturing jobs.

    On Wednesday Solyndra officials cited competition from foreign manufacturers and “regulatory and policy uncertainties” as hurting the company’s ability to raise capital.
    These fly-by-government-dole "energy" companies are dropping like flies as taxpayer funds run dry. Who woulda thunk it? Oh, yeah, we all did, except our libtard trolls who will be along to say it ain't so any time now.

    I mean, if we greedy, fossil fuel burning eco-meanies had just dropped everything and bought these expensive energy alternatives instead of relying on good, cheap, reliable fossil fuels, the stimulus would have worked and Obama's "Green Energy" initiative wouldn't have made him look like a tool, right?
    Last edited by malloc; 08-31-2011 at 10:14 PM.
    "In England a king hath little more to do than to make war and give away places; which in plain terms, is to impoverish the nation and set it together by the ears. A pretty business indeed for a man to be allowed eight hundred thousand sterling a year for, and worshipped into the bargain! Of more worth is one honest man to society and in the sight of God, than all the crowned ruffians that ever lived."
    —Thomas Paine, Common Sense
    Reply With Quote  

Posting Permissions
  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts