Solar Panel Company That Obama Praised as “Success Story” Hits the Skids (Video)

In August 2010 President Barack Obama spoke about the economy at the University of Nevada Las Vegas. In his address, President Obama described Amonix as a “success story”.

This week Aminox hit the skids.
Global Warming Org reported:

Earlier this week, Stimulus beneficiary Evergreen Energy bit the dust. Then, Ener1, a manufacturer of batteries for electric vehicles and recipient of Stimulus largesse, filed for bankruptcy. And today, the Las Vegas Sun reports that Amonix, Inc., a manufacturer of solar panels that received $5.9 million from the Porkulus, will cut two-thirds of its workforce, about 200 employees, only seven months after opening a factory in Nevada.

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  • shibumi

    Prez for Life Hussein: Killing Business, One Company at a Time.

  • Sasja

    So what else is new?

    But don’t worry, he has a vision for America. As he so eloquently stated in Vegas, I believe at UPS:

    I, I want us to make stuff, and build stuff, and move stuff around.

  • Carbon Pootprint

    Would it be possible to get him to talk himself up some more? Dude has a real gift for backing losers.

  • saveus

    obummer was wrong again
    what else is new?

  • arnonerik

    After we boot Obama out of Washington he should get a job as an investment counselor. We could hire him and do the opposite of whatever he advises for a sure road to financial independence.

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  • dba…vagabond trader

    Either a reverse Midas touch or its deliberate. I’ll go for the latter until proven wrong.

  • burt

    Obama: No one has stolen more.

  • airedale

    It would be great to have alisting of “green” projects/companies funded by the Porkulus with the date and amount of funding. The next column would be the date if failed (bankruptcy/shut down/laid off workers/moved to China, etc.) Finally an identification of the ties to the Obama administration and the Democrats in Congress (specific congress critters please). As they all die the dates of the chart would be filled in. We need to know which ones are a success and which ones were a money pit.

  • USMC Thomas

    When, rather than just incompetence does it become impeachment? Or treason?

  • Militant Conservative

    His record of failed crony socialism is intact.

    Obama = Evil.

    Powder is dry

  • bg

    ++

    OT..

    email via rbo2

    Credit is due to Barry Levinson, the famed Academy Award winning
    director, screenwriter, and producer who created and first published
    this two months ago in the Huffington Post. Enjoy!

    COSTELLO: I want to talk about the unemployment rate in America.

    ABBOTT: Good Subject. Terrible Times. It’s 9%.

    COSTELLO: That many people are out of work?

    ABBOTT: No, that’s 16%.

    COSTELLO: You just said 9%.

    ABBOTT: 9% Unemployed.

    COSTELLO: Right 9% out of work.

    ABBOTT: No, that’s 16%.

    COSTELLO: Okay, so it’s 16% unemployed.

    ABBOTT: No, that’s 9%…

    COSTELLO: WAIT A MINUTE. Is it 9% or 16%?

    ABBOTT: 9% are unemployed. 16% are out of work.

    COSTELLO: IF you are out of work you are unemployed.

    ABBOTT: No, you can’t count the “Out of Work” as the
    unemployed. You have to look for work to be unemployed.

    COSTELLO: BUT THEY ARE OUT OF WORK!!!

    ABBOTT: No, you miss my point.

    COSTELLO: What point?

    ABBOTT: Someone who doesn’t look for work, can’t be
    counted with those who look for work. It wouldn’t be fair.

    COSTELLO: To who?

    ABBOTT: The unemployed.

    COSTELLO: But they are ALL out of work.

    ABBOTT: No, the unemployed are actively looking for work…
    Those who are out of work stopped looking. They gave up.
    And, if you give up, you are no longer in the ranks of the
    unemployed.

    COSTELLO: So if you’re off the unemployment
    roles, that would count as less unemployment?

    ABBOTT: Unemployment would go down. Absolutely!

    COSTELLO: The unemployment just goes
    down because you don’t look for work?

    ABBOTT: Absolutely it goes down. That’s how you get to 9%. Otherwise
    it would be 16%. You don’t want to read about 16% unemployment do
    ya?

    COSTELLO: That would be frightening.

    ABBOTT: Absolutely.

    COSTELLO: Wait, I got a question for you. That means
    they’re two ways to bring down the unemployment number?

    ABBOTT: Two ways is correct.

    COSTELLO: Unemployment can go down if someone gets a job?

    ABBOTT: Correct.

    COSTELLO: And unemployment can also
    go down if you stop looking for a job?

    ABBOTT: Bingo.

    COSTELLO: So there are two ways to bring unemployment
    down, and the easier of the two is to just stop looking for work.

    ABBOTT: Now you’re thinking like an economist.

    COSTELLO: I don’t even know what the hell I just said!

    Now you know why Obama’s unemployment figures are improving,
    and you should be able to understand the State of the Union.

    ==

  • Militant Conservative

    Proof that keysian economics does not work.

  • Molon Labe

    And these are the people who will run healthcare….just like Fannie Mae, Freddie Mac, the US Postal service, Amtrak, etc, etc..

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  • Rose

    My neighbors will never know this has happened. They watch only MSM and it will never be mentioned all year long——and Obama will skate thru again. This so discouraging—-even Fox doesn’t talk about it. If there are only 2 or 3 debates, do you really think any of the moderators from the MSM will even mention it? We will all be socialists by 2012——ABO2012

  • donh
  • valerie

    The numbers of failed companies is running up. Were they designed to fail?

  • #1AMERICAN

    Everything zero touches turns to $hit…just like his entire term so far

  • donh

    Amo….a word meaning owner master ….Nix…..noun, plural nix·es.
    (in Germanic folklore) a water spirit that draws its victims into its underwater home.

  • Bonanza driver

    Obama and Chu were like two rubes who went to Vegas with a pot full of money…With predictable results, the community organizer and career academic blew billions of taxpayer dollars on pet projects…A few Obama star fundraiser types got rich many times over while we are left holding the bag…Now do you know why big donors pay 10,000 dollars a plate to hear Hussein blather about anything really. They are buying access to the trillion dollar man. Hussein and Chu would be in jail if they tried this in private business…Criminal malfeasance would be the charge.

  • Taqiyyotomist

    The so-called “reporters” on this matter don’t see what’s right in front of them.

    The creators of these “manufacturers”, scare quotes intended, never intended for their companies to be “successful”. They STOLE THE MONEY, after creating shell-companies, BIG-A$S FALSE FRONTS, folks. Facades. Theft from the treasury, the taxpayers, on a scale that the James Gang could only have dreamed about in their wildest peyote-fueled dreams. HUNDREDS OF BILLIONS OF DOLLARS have been stolen, so far. That we know of. Solyndra, Lightsquared, Amonix, Evergreen, Ener1, and probably about 50 more, whose intentional (though framed by the media as unintentional) so-called “bankruptcies” that have yet to hit the news wires.

    They meant for their new “businesses” to go “bankrupt”.

    Like Steve Miller said, “….and they’re still running today….go on, take the money and run!”

    The Obama administration has planned, supervised, and allowed the biggest heist of actual dollars in HUMAN FREAKING HISTORY. By an incredibly long shot.

    W.R.O.L., anything is possible!

    “Without Rule Of Law” is now the law of the land in America.

    Well, except for us Kulaks. All the laws still apply to non-Libs.

  • KornKing

    Everyone is missing something here, in Urkel’s world, a company failing IS a success

  • Patty

    BOMBSHELL CBS REPORT: 11 More Solyndras In Obama Energy Program, 5 Going Bankrupt
    Obama’s energy department didn’t stop with the failed crony company Solyndra. In total; the failing/failed ‘clean energy’ companies were collectively approved for $6.5 BILLION in federal (taxpayer) assistance.

    Five have filed for bankruptcy. The junk bond rated Beacon Power, Evergreen Solar, Spectra Watt, AES (a subsidiary of ‘Eastern Energy) and of course Solyndra.

    The others are not far behind; Nevada Geo Thermo (NGP) personally endorsed by Harry Reid, the recipient of $98.5 MILLION in loan guarantees, warns of multiple potential defaults, Sun Power received a $1.5 BILLION loan guarantee after a French oil company took it over, now owes more than it is worth, First Solar (the biggest S&P 500 loser in 2011) even though the CEO was forced out, taxpayers were forced to pony up $3 BILLION in loans.

    http://libertynews.com/2012/01/15/bombshell-cbs-report-11-more-solyndras-in-obama-energy-program-5-going-bankrupt/

    Blockbuster: Obama administration pressured Solyndra to delay layoffs for political gain

    ____
    Definition: Crony capitalism – a term describing a capitalist economy in which success in business depends on close relationships between business people and government officials. It may be exhibited by favoritism in the distribution of legal permits, government grants, special tax breaks, and so forth.
    The crony capitalism of the Obama administration has been on full display the last month or so, focusing on the unrelenting compulsion of the administration to waste away taxpayer money and wealth on ill deserving, non-profitable business ventures of the political friends of the Democratic party and the President. Can any American recall any other Presidency in their lifetime that was so blatant and careless with our money in rewarding it’s friends with little value in return?
    The Obama administration’s version of crony capitalism seems to be focused on alternative energy companies, starting with Solyndra, a bankrupt solar panel manufacturer company in California. As you may know frm news reports, the administration approved a half a billion dollar loan to the company even though PriceWaterhouse, the Office Of Budget Management, White House officials, the Treasury Secretary, the head of the President’s Economic Council, and other informed sources warned, ahead of granting the loan, that the company was unlikely to survive or flourish.
    Within two years after granting the loan, the company went under and the FBI, Congress, and other government organizations are investigating potentially criminal behavior. Solyndra’s top executives have claimed their fifth amendment rights in front of Congressional hearings in order to protect themselves in any subsequent criminal actions.
    The latest disgraces from the Solyndra disaster include:
    * It has become known that the Department of Energy likely broke the law by subordinating the Federal loan to the investments of private investors, a clear violation of the loan program. This subordination included putting the interests of a foundation with strong ties to a major Obama fundraiser, George Kaiser, ahead those of the American taxpayer. Crony capitalism?
    * This subordination will make it impossible for the government to recoup any of its loan since the assets of the bankrupt company will likely fall short of satisfying even the private investors that were moved ahead of the taxpayer.
    * In a circular conflict of interest twist, an Obama appointed advisor to the Energy Department, Steven Spinner, was a major driver of approving the Solyndra Federal loan even though his wife worked for Solyndra’s law firm. A New York Times article from early October discussed Solyndra-related emails: “The emails show Spinner discussed the pending final decision often with Solyndra officials, Energy Department colleagues, and the White House budget office. Crony capitalism?

    Read more: http://digitaljournal.com/blog/13563#ixzz1ktedcQg4

  • Patty

    All any candidate needs to do is research and get the word out. Facts that must be in ads everywhere. The destruction of America and the advancement of debt.

  • valerie

    OT: Global warming is passé — the new threat is “Cycle 25,” cuz we can’t call it an ice age, we did that a couple of decades ago. Anyway, the Thames river is going freeze over…

    http://www.dailymail.co.uk/sciencetech/article-2093264/Forget-global-warming–Cycle-25-need-worry-NASA-scientists-right-Thames-freezing-again.html

  • Patty

    Ad it up. And they think that Newt is crazy for wanting a space program. Obama needs to be stop. American voters will be the only hope.

  • Bonanza driver

    Funny how liberals, communists lite, pride themselves on being so much smarter than us knuckle dragger Republicans…Isn’t it amazing that liberals fell all over themselves to put a community organizer in charge of a Superpower. The man who has never held a job, but you know he is just so smart, has squandered hundreds of billions of our dollars with nothing to show for it…For a man who holds a thinly veiled hatred of wallstreet and corporations he couldn’t wait to put his skills to the test with our money…Now, we have Solyndra, Karma, the Volt, Amonix and an alphabet soup of failed ventures we don’t even know about that we still have to pay for…Remember, this was all deficit spending…He is brilliant!!!!

  • bigL

    Madoff should be released if these scronks are going free.So shouldthe TYCO ceo, and the World Telephone Guy too. Compariviely they wre just shaking the vending machine or pounding a phone in a phone booth

  • Taqiyyotomist

    #21 Bonanza driver

    Nope. You don’t see it, either. And many don’t, EVEN AFTER ALL THESE “BANKRUPTCIES”.

    Obama and his coterie didn’t “bet wrong” on anything.

    The money is still out there, in the pockets and bank accounts of outright theives, who created so-called “companies” FOR THE EXPLICIT AND INTENTIONAL REASON OF MAKING THEM GO “BANKRUPT” SO AS TO STEAL TENS OF MILLIONS FOR THEMSELVES.

    They were, ALL OF THEM, false fronts, which never intended in the FIRST F***ING PLACE to MAKE or SELL ONE DAMN THING.

    In the end of it all, you will all see that I am correct here. Not that it will even matter at that point, for any of us. This is abject and intentional fraud and theft, and NOT ONE DAMN THING WILL EVER BE DONE ABOUT IT.

    Because “WROL” is where we’re at, now, and stuck there for the foreseeable future.

  • Taqiyyotomist

    HELLO?

    OBAMA IS NOT STUPID.

    HE IS EVIL.

    NONE OF THESE “BANKRUPTCIES” WERE MISTAKES.

    THEY WERE PLANNED HEISTS.

    Good god. The delusion is strong in America. Quite strong, indeed.

  • donh

    It is not fair to dump this all on Obama…The Repblican establishment is in on this croney fascism….They are sitting in the get away car…scouting for the cops….provising cover. …beating down the forces of ” stop spending my country into bankruptcy” . Myth Romney is cashing in on this game at the hedge fund level.

  • Adi

    Thump. Thump. Thump.

    Another one bites the dust.

    (Too bad the song isn’t about Bozo’s pension plan but rather my own; maybe I should have taken that job in Japan *sigh*)

  • Bonanza driver

    #32 If I recall, not a single Republican voted for the stimulus…

  • Taqiyyotomist

    donh is right.

    The GOP has, especially recently, tipped their hand.

    But anyone who has studied the UN’s Agenda 21 (from their own damn documents) has known that the GOP and the Democrats — and even folks like Ron Paul, and Alex Jones, and who knows who else — are ALL IN ON IT.

    Discernment is not one of the more prevalent qualities among Americans. Sadly for us all. That and the fact that most Americans, even if they had discernment in good quantity, are too ignorant of facts and history to make any use of it.

    THANKS, COMMIE MSM AND SCHOOLS! You absolutely rock for that! — V. Lenin and Mao.

    OT: check this from American Thinker today — Yes, Alex Jones is part of the infiltration, I am thinking more each day.

    http://www.americanthinker.com/2012/01/alex_jones_and_kremlin_propaganda.html

    Stupid nation is stupid.

  • Taqiyyotomist

    Please delete double post.

    Mouse is thinking I am clicking twice, when I am clicking once.

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  • http://none tommy mc donnell

    everyone here complains about our income being squandered on these companies(i think obama looks for those most likely to fail to give money to)but nobody wants to do anything to take back our right to the fruits of our labor from the politicans. we all know that the politicans are all crooks so why do we keep letting them take more and more of our income. until the american citizen again truely has an inalienable right to the fruits of their labor we will never be free people.

  • Bonanza driver

    #35

    Confirmed, not a single Republican in the house voted for stimulus…Three Senators voted for it, Specter from PA who has already been handed his a$$, and Snowe and Collins from Maine…Are the two old cranks from Maine the Republican Vanguard leading the crony venture socialism???

  • donh

    You can’t judge the Republicans by opposition votes they make when sleezy spending bills are certain to pass. That is when they express righteous indignation and cast their meaningless no votes with fire and brimstone rhetoric…so they can pander for votes to the honest americans who wants this crap stopped….. However, once they have any power to do anything about fascism and cut the flow of croney money …there is no fight. Their real job is to run a humbug flim flam scam .Pretend to oppose….gather up all the good americans into a voting block….and take us down in a nose dive on behalf of their communist criminals in the other party. 40% – 60% of republicans are stealth communist/fascist who have no moral conscience for spending this country into a Soviet Style tyranny. This whole push for Romney is to keep their firewall in place. Obama vs
    Romney..they got it made another 4 years no matter who wins and will steal another 8 trillion dollars.

  • No Man

    I’m hoping the pharaoh picks the Patriots next Sunday.

  • kato

    Do those teleprompters run on solar or wind power?

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  • avery

    Donh 32# is right that is what the Tea Party is all about it got their the two party was the same.Harry Reid told the Rep. they need to get rid of the Tea party,that what they are trying to do,during this electing.

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  • http://none tommy mc donnell

    if the last decade has proved anything its that the american politican cannot effectively run the american economy. its time to take our money back and have a free-market economy.

  • SSBN 627(B)

    If any of these organizations were equipped with a large enough union-labor pool they would be ‘too big to fail’.

    Sustained large-scale donations keep the Gov’t mammary exposed for continued sustenance.

  • Wondering

    Well, that makes 3 solar companies, 2 electric car battery plant, and electric car that is either bankrupt or so bad obama had to send it overseas to cover the embarrassment until after the elections. By the way, California is still going bankrupt and is mandated to go totally electric cars by 2025. Idiots. Didn’t they read global warming is a sham?

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  • http://www.youtube.com/nalejbank Americanist

    Who has the cleanest, most consistently Constitutional voting record, without all the liberal baggage? Who hasn’t cheated on his wife, supported socialized medicine or voted to raise the debt limit 5 times? Who has never voted for an unbalanced budget or a congressional pay raise or voted against the peoples’ right to self defense? Who has actually laid out a plan to cut federal spending in real terms and balance the budget in his first term?
    The one and only standing conservative candidate that can beat Obama without being a hypocrite is, Ron Paul.
    There is only one big problem. The establishment insiders that chose John McCain and Barack Obama in 2008 do not care if Obama faces anyone on the Republican ballot as long as it is NOT – Congressman Ron Paul. Those who know the insides of the US political machines will tell you that if they were honest but any reasonable observer can see the bias against Paul, not for any real reason except that he stands squarely on the Constitution. That cannot be allowed in a President of the US. Reagan was the last President that gave more than lip service to our Constitution and look what happened to him on March 30th, 1981.
    Ron Paul is the authentic Ron Reagan of this election! He has with his votes in Congress , “vetoed” more unconstitutional bills than any other elected official in history.
    It is now time to grow up and elect a proven and consistent leader to save this republic while there is still time! Ron Paul is the man to do just that!
    Nothing will change with any other! Ignorant and free can never be! Do your own research! Put a high value on your vote in your state’s primary! Do not compromise your liberties or those of your countrymen! Remember, the first Veterans were the founders! Paul is the only veteran running! Veterans, not military-industrial complex talking heads support Paul over all others! Support the Constitution and Dr. Paul before we have neither!
    Start here: http://www.dailypaul.com or http://www.thenewamerican.com

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