Another Disaster… Obama’s Gleaming Example of Green Technology – Solyndra – Files For Bankruptcy

The hits keep on coming — Barack Obama’s gleaming example of green technology – Solyndra – filed for bankruptcy today. The Obama Administration gave the solar startup $535 million in federal promises from the Department of Energy.

Obama visited the plant in 2010 and said the factory is just a testament to American ingenuity and dynamism.
“You at Solyndra are leading the way.”

NBC Bay Area reported, via Free Republic:

President Obama faces political catastrophe in the form of Solyndra — a San Francisco Bay area solar company that he touted as a gleaming example of green technology. It has announced it will declare Chapter 11 bankruptcy. More than 1,100 people will lose their jobs.

During a visit to the Fremont facility in spring of 2010, the President said the factory “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. ”

It’s not his statements the administration will regret; it’s the loan guarantees. The President was celebrating $535 million in federal promises from the Department of Energy to the solar startup. The administration didn’t do its due diligence, says the Government Accountability Office. “There’s a consequence if you don’t follow a rigorous process that’s transparent,” Franklin Rusco of GAO told the website iWatch News.

The President touted the federally back money as a way to create jobs. The President’s opponents immediately jumped on the deal as Solyndra made its first layoffs.

Another Obama disaster. At least this one only cost us $535 million.

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  • bg
  • bg

    ++

    have no fear, the “bankruptcy” is a red flag denoting they found a
    better more secreted route, trust me, they have not gone “poof”..

    ==

  • Blacque Jacques Shellacque

    The biggest mistake Solyndra made was setting up shop here in California.

  • MAJ Mike

    Wow. One half of a billion dollars flushed down the crapper. Change we can believe in.

  • Marmo

    I guess green energy is not shovel ready.

  • Greg

    I saw one of these solar cell energy farms that was about 10 acres in size and thought that the only profit will be by the window cleaners and grass cutters union. This type of energy farm will be labor intensive

  • Finncrisp

    Community organizing is a lot easier than running a profitable busines. But Barry would not know that since he has only done the former and not the latter.

    Goods or services that are only priced competitively because of subsidies do not make a profit. Net profit for solar energy has never been a positive number for any venture. Real world reality is not Barry’s strong suit, either.

  • tommy mc donnell

    does anyone have a list of all these “green” businesses that he has used for political propaganda that have either gone bankrupt or moved to china. they all got money ripped from the paychecks of american workers that ends up being flushed down the toilet that is green technology.

    green technology another wonderful idea of the 60’s generation.

  • Ron

    Everything President Downgrade endorses, touches or tries push through turns into Sh!+. Look at what the most prestegious office in the world has turned into; Hip hop bar-b-que’s, gay family day Easter Egg hunts and a”crib”. This moron has only hurt the black community and set the community back for years to come. When Jan.20,2012 gets here I will be in DC to watch this chump and his mate evicted from the Whitehouse and hopefully see him arrested shortly thereafter. Goodbye President “Pimpin’ it up” and good riddance!

  • lemonaide

    The bad news is that they are indeed leading the way… as we all move toward bankruptcy.

  • Buffalobob

    Just think of how many coal fired power plants this fiasco could have taken of line, if only it was feasible.

  • bg

    ++

    along with all else, Obama et al are “transitioning” banks as well..

    keep telling you Obama et al aka: Greens (Weathermen, Black Panthers,
    Rothschild, Rockefella, Gore, Strong, Soros, Socialists, Farrakhan, Wright,
    Qadaffi, Islamists, etc..) are hell bent on correcting Hitlers mistakes..

    [In 1933 the German establishment thought it could use Hitler to restore a modicum of order to the confused and confusing Weimar Republic. In fact, Hitler did strengthen the German establishment, but not exactly in the way the bankers and businessmen had wanted; and now, fifty years later, it is clear who was using whom. Nevertheless, the Western World did not complain in 1933 because Hitler, though a fascist and a totalitarian, was seen, like countless American puppet dictators today, as someone who leaves the established order in place.

    Not so the Greens. If a group of young, anti-establishment pacifists with unusual ideas and uncomfortable answers to hard questions terrifies us more today than Hitler, Himmler, Goering and Goebbels did back in 1933, our terror says more about us than it does about the Greens or the Germans. It indicates that we have failed to comprehend the meaning of Nazism and blind obedience to authority in their full horror, and that we, unlike the Greens, have yet ourselves to learn the democratic lesson that we have taught the Germans so well.]

    the old red is the new green..

    ==

  • Ron

    Sorry; meant Jan.20,2013.

  • theBuckWheat

    In 2010, the median household income was $52,026. The government’s initial grants represent the incomes of about 10,200 households. But note that about 1,000 people are losing their jobs.

    Here we have an acme example of how green jobs relate to the jobs held by median households (you know, the little people). In this case, it takes the entire income of 10 households to fund a single green job. At this rate, we are Winning The Future faster than if we were riding high speed rail. Just like with everything in this administration, the hard truth is worse than the opposite of their spin and hype.

  • #1AMERICAN

    just fukken great…more tax payer money wasted by the mooslime POS

  • bg

    ++

    logic tells me that is NOT A TOILET ALL OF THAT MONEY IS
    SUPPOSEDLY BEING FLUSHED DOWN, but what do i know..

    ==

  • Ron

    How long after 2013 do you guys think it will be before the Obama’s have to declare personal bankruptcy and move into government housing? Hopefully President Perry, TEA Party majorities in the House and Senate and the American People can repair the damge already done.

  • Sam Stone

    We will soon seeing business owners BANNING Obama from naming them in any speeches because that business will soon be bankrupt by the Obama Curse! That curse is worse than Michelle eating deep fried fat cakes!

  • Sam Stone

    Finncrisp commented: Community organizing is a lot easier than running a profitable busines.

    When he was organizing his communities, they were a bunch of uneducated dependent idiots. Now he is facing those smarter than himself.

    HUGE difference.

    And where are all the stories about the effectiveness or lack of for our Secretary of State?
    With the world collapsing on her watch, we have seen or read little about her or her job!

  • Bill Mitchell

    No matter how much we try to engineer society, the Laws of Nature (Strong Shall Survive) always prevail. Unless a company meets a recognized demand with proper supply, it will fail. Period.

  • big L

    I recall that the plant moved to S.Carolina and then closed that branch. Also one of the principals
    was a bundler for Obama un 2008. Biden was there and so was Arnie..

  • bg

    ++

    not all are losing the shirts off their backs so to speak..

    Soros does extremely well, as do most of the no traitorous act is too
    exempt species Democrats beat the market by 73 basis points per
    month
    (much more in thread)..

    ‘Infrastructure Bank’ (scroll up for more)..

    ==

  • Billy Barty

    As long as I’ve had a functioning frontal cortex, I’ve been told that solar energy is the energy of the future!! as soon as we get some investors, we’ll have flying cars and homes operating on solar for freeeeeee!!! This nonsense was being touted as early as the late 70’s AFAIK.

    A ~40 year old tech isn’t “new” … and if it hasn’t taken off after getting billions in free money, then maybe the whole ‘green jobs’ movement should be laughed at and ridiculed any time its brought up.

    Green jobs are a scam. Bigfoot and alien ‘researchers’ have more credibility. Just think that our President promotes things more ridiculous than alien abduction! haha It’d be funny if it werent so damn serious. I think this rises to treason myself.

  • HadEnough

    Everything this assclown ever touches turns to sh*t………..

  • ebayer

    Obama said,“You at Solyndra are leading the way.”

    Yeah…

    …Into Chapter 11 bankruptcy and job losses.

  • Patty

    Some top Congressional Democrats are losing faith in President Obama’s signature employment initiative, the promotion of so-called “green jobs.” They’ve lost so much faith that on Thursday one liberal Democratic member of Congress called the president’s green jobs program “a lot of talk.”

    “Of course, we want to be a part of the new innovation and the green jobs,” Rep. Maxine Waters said on MSNBC Thursday. “But you know, the green jobs have been about a lot of talk and not a lot has been happening on that.” A few hours later, also on MSNBC, Waters said flatly: “All of this talk about the green jobs never materialized.”

    Waters is a senior member of the Congressional Black Caucus. Last month, the chairman of that group, Rep. Emanuel Cleaver, told the Huffington Post that green jobs had little meaning for his constituents. “African-Americans out there were saying, ‘What do we have in common with this new, green technology?’” Cleaver told the website.

    The skepticism from Waters and Cleaver comes after a Washington Post-ABC poll, published July 26, found serious erosion in liberal Democratic support for Obama’s jobs policies. “The number of liberal Democrats who strongly support Obama’s record on jobs plunged 22 points from 53 percent last year to 31 percent,” the Post reported.
    ______________________________

    http://reddogreport.com/2011/08/democrats-criticize-obamas-green-jobs-failure/

  • ebayer

    @ # 6

    I’m smiling because I AM a window cleaner! ;p

  • Andreas K.

    Well, we know from Spain that such companies can only survive when the government butters tons of money into them. In Spain the went bankrupt when the government ran out of money. A few still exist, this time the EU is spoon-feeding them.

    Solar energy, just like wind power, is utterly insane.

    Why?

    Well, first of, the University of Leicester did a study and they found that these panels will never be cost-effective. With proper maintenance solar panels survive 20 to 25 years.

    And then there’s the big killer: you’re effectively putting your energy production into a non-linear, chaotic system, which is just utterly insane.

    The last winter in the UK was very cold. The large wind parks in Scotland produced exactly 0.0% of the energy in the UK during that winter. Thus the UK had to import power from France. Because France had plenty. Why? France is riding lots of nuclear power stations.

    An in Germany not long ago, the wind parks in the North produced a lot of energy, due to the weather. However, nobody wanted to buy the power, since there was already a lot on the market. So the German government had to subsidize the sale.

    Green energy is the biggest scam in history.

  • Ripped

    “You at Solyndra are leading the way.” to bankruptcy!

  • tj

    Global Warming was the hype to sell green energy….

    Where did the $535M go? Not to 1000 employees… they got about 1/10 of it… Where is the other 90%

    Follow the money… bet the”consultants” are into the Dems in a big way… just my guess…
    only hard working investors and taxpayers lose out… betcha some Dems made big profits on this turkey…

  • surfin’ bird

    Jeez. the most expensive photo-op in history.

  • LC

    I drive by Solyndra’s main HQ offices in Fremont everyday on my way to and from work. Their parking lots have been a ghost town for months now. I’m not surprised to hear they are going BK. Shocker.

  • HadEnough

    BTW I bet you GE has plans for anything this company did to be now done in China……….I’m sure Joe Biden had it on his list of things to offer China on behalf of the WON…………scorched earth policy in effect

  • Louie_DaSmasher

    Obama won’t be satisfied until the the United States is destroyed.

  • Patty

    535 million that could have been spent decreasing the Debt.

  • Patty

    Obama liberal plans are all failures. Because of his intent to change and his hopes the future is less bright. There may be a time when America will be in shape for all the Green but in this time it is utter nonsense and non productive.

  • Patty

    #34

    At own home we say that every day! Kudos

  • Patty

    Obama throws anything on Green and hopes it sticks. No wonder other nations are laughing, scolding and thriving.

    Obama needs to be defeated! simple as that!

  • AuntieMadder

    Solyndra…too much like Soilent Green for my taste.

  • bg

    ++

    Patty #38 August 31, 2011 at 2:03 pm

    i wouldn’t call it “thriving” ..

    ==

  • bg

    ++

    re: #40 re: Patty #38..

    forgot to 😉

    btw, i don’t think many countries are doing better than US, even
    if they supposedly are.. iow: we could all be doing a lot better..

    ==

  • Patty

    “Hope and Change” was Obama’s campaign slogan in the 2008 campaign. My question was this: “What did we want to change?” The only things I could get out of his messages was that he was going to take things away from people. Certain people were making too much money. He wanted to restrict and tax these people. And with that message he implied that those lower on the totem pole were somehow going to benefit.

    Well, where are they now with the real unemployment rate above 16% (MSN Reports). Estimates range as high as 28% (Daily Finance Poll). During the Great Depression the unemployment rate reached 24.9% (Answers.com). Will we look back on this period as a depression?
    _____________________

    So, Gleam on this!

  • Patty

    #41

    My point is when China is insulting US. Scolding Biden, thriving Economically, yet wouldn’t want to live there ‘), we have given them the keys to our technology and Obama is working on failed green projects here. 535 billions here alone.

    China will be number one in Power and we have been Downgrade because of Obama’s hair brained ideas. Immelt in my opinion should be tried for Treason.

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  • bg

    ++

    aah, how soon we forget..

    Green Energy Is Really All About Social Justice

    bit more in linked thread above, and also via GREEN
    everything NWO links & connecting links in threads..

    ==

  • bg

    ++

    Patty #43 August 31, 2011 at 2:31 pm

    agreed, but there’s much more to it..

    the so called “failures”, imho, are deliberated
    & deliberate, and we ain’t seen nothin’ yet.. 🙁

    ==

  • Ausonius

    The potus is having the last laugh here.
    He is slowly killing the oil/coal industry that provides our energy needs, with nothing to replace it. The degree of evil required to knowingly weaken the last hope for freedom is impossible to fully appreciate unless we live to see the nation fall as a result of him and likeminded people’s actions.
    And fall it will if these things aren’t returned to:
    Moral fabric based on Christianity (sorry, it tweren’t the atheists, agnostics, adherents to the religion of peace, or any others that built this nation)
    Reliance on history as the only reliable predictor of the future (this would dramatically alter all sorts of things, not the least of which is foreign policy)
    Limited government as defined by a written Constitution (not the unwritten, living and breathing species that Anthony Kennedy and co. seem to rely on)

    Liberals being allowed to stop our energy production, in the 21st century, will ensure collapse or perhaps even war and subsequent occupation. War machines require energy, and lots of it.

  • logicfirst

    Follow the money folks

    From ABC news:

    The loan guarantee, the administration’s first for a clean energy project, benefited a company whose prime financial backers include Oklahoma oil billionaire George Kaiser, a “bundler” of campaign donations. Kaiser raised at least $50,000 for the president’s 2008 election effort.

    In one of those “twist of fates” you hear about; back in April of 2008 Senator Hillary Clinton exposed the Kaiser/Obama connection while she was battling the big O in the Arizona primary. Obama was running an ad that said:

    “I don’t take money from oil companies or Washington lobbyists”

    The Clinton campaign made a big deal of this and pointed squarely at George Kaiser and the fact that he was raising big bucks for O’s campaign.

    http://www.zerohedge.com/contributed/government-investment-disaster-works
    http://abcnews.go.com/Blotter/obama-administration-solyndra/story?id=13640783

    Here is a bit more on the Obama & Oil Billionaire George Kaiser connection

    Kaiser’s Argonaut Private Equity and its affiliates were the largest shareholder of Solyndra as it pushed for the IPO. Kaiser’s firm remains a “significant financial backer of Solyndra,” Solyndra spokesman David Miller confirmed. The Oklahoma oil magnate hosted a 2007 Tulsa fundraiser for Obama and regularly visits White House staff, visitor logs show.

    http://abcnews.go.com/Blotter/obama-administration-solyndra/story?id=13640783&page=3

  • bg

    ++

    re: #22 August 31, 2011 at 1:21 pm bg

    sorry, more direct links..

    thanks..

    ==

  • squeaky

    to be able to track the success/failure of all these green projects. and how much of the money spent went into the pockets of the politically favorable. maybe it isn’t important [to those in the know] that the money went down a dark hole. maybe it made its way to where they wanted it to go. they’ve succeeded at their task. good thing money grows on trees.
    http://www.bankruptcygeorgialawyers.com/2011/05/bankruptcy-worries-farmers-surrounding-atlanta.shtml

  • bg

    ++

    logicfirst #48 August 31, 2011 at 2:58 pm

    all part of the plan within the plan within the plan..

    not to mention the planned..

    ==

  • bg
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  • Sasja

    Kaiser is a big supporter of The Evil One. His parents were, I believe, refugees from Nazi Germany, and having witnessed Hitler’s systematic destruction of the Jews, should know better. Just another liberal Jew too blind to see past his liberalism and recognize his true enemy. If The Evil One ever took absolute control of this country, God forbid, those such as Kaiser would be the first to be eliminated and all their wealth confiscated. Right now he is a useful financial fool. It’s interesting that so many liberals make, or have made, their money in a free capitalist environment and now seem hell bent on seeing it destroyed.

  • Blacque Jacques Shellacque
  • Jenny

    Do you suppose that the cap and tax legislation was a racket to fund green jobs and funnel $$ to these now failed solar and green companies?? Because that legislation failed, there is no $$ to fund this new green industry they wanted to create..

    And do you suppose that is why people like Al Gore are looking so desperate right now defending global warming with all that they have? It is the foundation for all of their schemes and plans….

  • logicfirst

    #57 Jenny

    Good observation! Yes cap & tax was slated to be the new funding source for the central planners in Washington but it was also a means of 100% top down control over the economy. Part of cap & tax would have raised the price of gas to $7 over time. With high energy prices, the gov can strangle the economy and then offer central planning solutions.

    We have seen the 1,000 plus Obamacare waivers handed out to favored campaign contributors. Democrats would do the same with cap & tax to their favored allies and that is how you regulate your competition out of business. General Electric could make sure no competitor ever taps in to their marketshare with such crony politics.

    As for Al Gore – Al most likely convinced quite a few people the cap & tax system would result in hundreds of billions of tax dollars dumped in to these new green companies that they would reap record profits. Al was one of the largest shareholders in the Chicago Climate Exchange. The CCX was designed by a former Enron executive and we all know how the enron energy trading scam worked out. The software used to calculate carbon credits & such was given a patent that was awarded to none other than the acting CEO of Freddie Mac the day after Nancy Pelosi was sworn in. You can’t make this stuff up! The left wing version of climate change = new revenue stream to finance democrat’s quest to turn the USA in to a Euro welfare state while doing nothing about climate.

  • Man… This thing just keeps going with this guy. WTF? NOBAMA!! This is why I start the officialnobamablog. (linked in my name) This is all too insane. Maybe its time I pulled my hat down and rode into the sunset.

  • bg

    ++

    Dave Feld #60 August 31, 2011 at 5:42 pm

    don’t blame you.. think i got my answer
    to “how dumbed down are we”.. *sigh*

    will read more of your blog.. seems as if you have a bit
    more pertinent info v the sandbox gig going on in here..

    ==

  • “You at Solyndra are leading the way…………into the abyss.”

  • tommy mc donnell

    #58 jermone corsi…another liberal that didn’t hear obama’s speech in arizona on civility. i’m starting to think the only people that heard it other than the audience was me, o’reilly and krauthammer.

  • Valerie

    #63 August 31, 2011 at 7:20 pm
    tommy mc donnell commented:

    Keep in mind that the “jerome corsi” making a fool of himself here is not the real Jerome Corsi, and that the real Jerome Corsi has a new post about an obot that lacks both discipline and good sense.

    http://www.wnd.com/?pageId=43&authorId=82&AUTHOR_ID=246

  • Jerry Kimbro

    Every business obama visits or promotes goes belly up. Even that place he bought those hotdogs from in the mid west. He is the kiss of death to all business.

  • I’m very encouraged reading all the comments here. Clearly many more people can now clearly see the originally obscured system, now made clearer by events like climategate and the fact all claims can be checked online and usually found to be countered by many opposing but unreported studies. I’ve followed the money and politics here http://kingsbury.multiply.com/journal/item/35/Global_warming_The_conspiracy and keep finding more pieces to add to the jigsaw. I am in no doubt the Bilderberg group and associated interests such as George Soros have engineered global warming purely as a means to unite the world under one law, ie the UN world carbon tax, leaked in a report last year and reported of all people by the UK’s Guardian, the greatest left wing mouthpiece of the establishment. No one else picked it up and has since vanished into obscurity. While IPCC officers can openly declare global warming is no longer about the climate, but economic redistribution (Ottmar Edenhofer 2010) and no one reports it we know they are all working together, but they cannot silence the internet.

  • Jenny

    #59 August 31, 2011 at 5:37 pm
    logicfirst commented:

    Thanks for the background! Every bit helps.

  • bg

    ++

    David in London #66 August 31, 2011 at 8:10 pm

    thank you..

    [just in case you don’t have any of the info listed in threads @
    the GREEN, everything, NWO links, why not take a peek.. 😉

    yep, there’s a bit more, well, only because just about everything’s
    centered around “Global Warming”, but still hope that helps a bit..]

    ==

  • bg

    ++

    Jenny #57 August 31, 2011 at 4:43 pm

    oops missed your post..

    please check out links @ #52 August 31, 2011 at 3:52
    pm bg & #68 August 31, 2011 at 9:09 pm bg, thanks..

    ergo, my answer is, there is no other answer..

    btw: Gore may be desperate, but he’s well on his way (that’s if he isn’t
    there yet, as i don’t believe they’d announce it since GW was proved to
    be a hoax) to becoming the worlds first Carbon Tax, er, Global Warming,
    uh, Climate Change, yeah, that’s the ticket, billionaire..

    logicfirst #59 August 31, 2011 at 5:37 pm

    re: Enron & Fannie Mae et al

    just a sample:

    Franklin Raines et al

    Burning Down The House

    more @ links..

    ==

  • bg

    ++

    via #45 August 31, 2011 at 2:46 pm bg GREEN link

    1972 United Nations Conference on the Human Environment (Part 1)

    1972 United Nations Conference on the Human Environment (Part 2)

    have to say i’m partial to those (maybe because
    i’m almost 3 decades a older than they are).. 😀

    ==

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  • use your head

    The DOE loan guarantee was first initiated during the Bush administration. Hope that does not ruin your hateful rants.

  • bg

    ++

    use your head #71 September 1, 2011 at 12:04 am

    geez, then why isn’t Bush in line to be
    the first Carbon Tax billionaire?? gah!!

    fyi: Bush had been promoting alternative energy before he
    was president, just not for profit or windmills so to speak..

    ==

  • bg

    ++

    re: #72 September 1, 2011 at 12:21 am bg
    re: use your head #71 September 1, 2011 at 12:04 am

    DOE: Formed August 4, 1977

    ==

  • bg

    ++

    re: #72 September 1, 2011 at 12:21 am bg
    re: use your head #71 September 1, 2011 at 12:04 am
    re: #73 September 1, 2011 at 12:28 am bg

    oh yeah..

    The Department of Energy was formed after the oil crisis on August
    8, 1977 by President Jimmy Carter‘s signing of legislation, The
    Department of Energy Organization Act of 1977 (P.L. 95-91, 91 Stat.
    565).

    DOE Loan Guarantee Program (LGP)

    [The Department of Energy’s Loan Guarantee Program was created in the Energy Policy Act of 2005, but has not fully lived up to its promise of deploying clean, ready-to-commercialize energy technologies across the U.S. In July, President Obama announced loan guarantees for two solar companies; one for a 280-megawatt power plant in Arizona and the other for manufacturing facilities in Colorado and Indiana. The American Recovery and Reinvestment Act of 2009 modified the Loan Guarantee Program, adding a temporary program to spur the rapid deployment of renewable energy projects. However, significant challenges remain.

    SEIA supports the full funding of the Loan Guarantee Program,
    and urges expeditious processing of meritorious loan guarantee
    applications.]

    so, you were saying??

    ==

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