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Thread: White House-Backed Solar Energy Company Collapses

  1. #1
    SiriuslyLong is offline
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    White House-Backed Solar Energy Company Collapses

    http://abcnews.go.com/Blotter/white-...ry?id=14420755

    Oh my. "Money well spent". Add this to the list failed white house investments.

    Obama should be impeached over this. What a scandel.

  2. #2
    SiriuslyLong is offline
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    The really sad part is that one of my customers is an unsecured creditor to this company. Now the failure propogates to innocent bystanders. All because of profound ideology.

  3. #3
    SiriuslyLong is offline
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    Solyndra failure draws attention to other firms

    (CBS/AP) WASHINGTON - The Obama administration is moving to finalize as many as 15 loan guarantees for renewable energy companies before the stimulus program ends on Sept. 30, and Republicans are questioning whether that could lead to more failures like Solyndra Inc., a company that filed for bankruptcy and may leave taxpayers on the hook for a half-billion-dollar loan.

    The loan guarantees essentially make it easier for the companies to get financing as the government guarantees repayment in the event of default. In Solyndra's case, the loan came from the government itself, but private banks often provide the financing.

    A spokesman for the Energy Department said the department won't take any shortcuts during the approval process.

    "We will only close the deals that are ready to close on Sept. 30," said spokesman Damien LaVera.

    Read the rest here: http://www.cbsnews.com/stories/2011/...20106602.shtml

    If either Atypical or Hava-gafa-kasha have information on this issue, it would be appreciated. I quest for information, information, information so I can analyze, analyze, analyze.................................. More information.

  4. #4
    Atypical is offline
    Holy Crap!! There is more information about this bankruptcy. Facts. And more facts. And even more facts.

    Oh, damn. It's rather long so maybe 'some' won't take the time. Pity, because nothing important is easy without a significant investment in time, effort and comprehension.

    But lets try anyway, shall we? There are many links to even more facts and information in this story. Want to know more? READ EVERYTHING - VERY CAREFULLY.

    http://act.alternet.org/go/11121?aki...18.Zy2vMA&t=18

    PS. Read the first post in this thread. (Oh my. "Money well spent". Add this to the list failed white house investments.
    Obama should be impeached over this. What a scandel.)

    No wait for more objective information just vicious ideology prompted that remark. That's what robots do. Vomit the kool-aid. I have accused him of many things. He has denied them all including being a member of the repuke party as if that makes his dumb remarks intelligent.

    He is again shown as a rabid ideologue undeserving of any respect re his 'opinions' about political and other matters.
    Last edited by Atypical; 09-16-2011 at 04:02 PM.

  5. #5
    alvinsmith is offline
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    This company received $500M in loans from the federal government that were rushed through, This company was linked to Obama supporters. This country which was touted by Obama in 2010 as a reason why his stimulus was doing so well, is now bankrupt and the loan will not be paid back.

    If anything else it shows you Obama's failure. We will see if anything more sinister occurred in order for this company to get the loan.

    Obama could have probably saved himself the trouble of having to defend this if not for the authorization of a NEW loan to ANOTHER solar company.


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    Last edited by alvinsmith; 09-23-2011 at 08:37 PM.

  6. #6
    SiriuslyLong is offline
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    Quote Originally Posted by alvinsmith View Post
    This company received $500M in loans from the federal government that were rushed through, This company was linked to Obama supporters. This country which was touted by Obama in 2010 as a reason why his stimulus was doing so well, is now bankrupt and the loan will not be paid back.

    If anything else it shows you Obama's failure. We will see if anything more sinister occurred in order for this company to get the loan.

    Obama could have probably saved himself the trouble of having to defend this if not for the authorization of a NEW loan to ANOTHER solar company.
    Oh yes Alvin. Something very sinister happened. Read the partisan headline from Typical.

    How Conservatives and Big Oil are Using a Phony Scandal to Undermine Obama, Clean Energy, and Government Itself

    Here is some information to help you push back on the latest whipped-up, anti-green, anti-government, anti-Obama "scandal."


    For someone so self acknowledingly bright, why does he have to go to web sites for direction?

    Even Ezra Klein smells a rat.

    Five myths about the Solyndra collapse

    "1) This scandal is no big deal. To the contrary, evidence is mounting that there was something irregular about the way the Solyndra deal got greenlighted. My colleagues Joe Stephens and Carol D. Leonnig have obtained e-mails showing that the White House pressed the Office of Management and Budget to hurry up in reviewing the deal (note, however, that this only came after the Energy Department had approved the loan), even as OMB officials voiced concern about being rushed.

    Does that prove the White House engaged in cronyism, shoveling cash toward a political ally? Not necessarily. Democrats have pointed out that Solyndra’s loan process was initiated by the Bush administration and that many key investors were Republicans. Still, there could have been other reasons the deal was hastened. As a former Clinton energy aide stressed to me, it was arguably a mistake to sell the loan guarantees as job-creating stimulus (the program was expanded as part of the 2009 stimulus bill). “It means you try to force huge amounts of money quickly through processes that aren’t quite ready yet,” the aide said. “It’d be better to have a calmer, steadier source of funding.”"

    http://www.washingtonpost.com/blogs/...yvRK_blog.html

    And now Solyndra exec's are taking the 5th.

    http://www.washingtonpost.com/busine...piK_story.html

    And Typical has the balls to call me an ideologue. Seriously, I think he just likes using the word. I was watching MSNBC for the first time this summer and Rachel Maddow used it like 5 times in her segment. Now I understand where they get it from. And yet, Fox News is bad.

    Are you really for real Typical?

    This loan was a poor use of tax payer dollars. The article you note claims that it was benefitial as we have know how, skilled worker and a bunch of other soft benefits that cannot buy you a cup of coffee.

    Anyway.... I'm sure we'll hear more left political spin that this was "good".
    Last edited by SiriuslyLong; 09-20-2011 at 05:21 PM.

  7. #7
    Havakasha is offline
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    Dont go too crazy S&L. I dont remember any such enthusiasm about Halliburton etc.
    I know you finally found your one possible example of govt malfeasance and your salvating because its a Democratic govt in power.Why dont we wait and see how this plays itself out.

    I do seem to remember you calling the money spent on Oil subsidies not worth even thinking about. I wonder if there might be a bit of hypocrisy in your sudden interest in this money. hmmm. Nothing to do with politics right? lol

    "Does that prove the White House engaged in cronyism, shoveling cash toward a political ally? Not necessarily. Democrats have pointed out that Solyndra’s loan process was initiated by the Bush administration and that many key investors were Republicans. Still, there could have been other reasons the deal was hastened. As a former Clinton energy aide stressed to me, it was arguably a mistake to sell the loan guarantees as job-creating stimulus (the program was expanded as part of the 2009 stimulus bill). “It means you try to force huge amounts of money quickly through processes that aren’t quite ready yet,” the aide said. “It’d be better to have a calmer, steadier source of funding.”"

    Thats a very fair analysis.

  8. #8
    SiriuslyLong is offline
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    Quote Originally Posted by Havakasha View Post
    Dont go too crazy S&L. I dont remember any such enthusiasm about Halliburton etc.
    I know you finally found your one possible example of govt malfeasance and your salvating because its a Democratic govt in power.Why dont we wait and see how this plays itself out.

    I do seem to remember you calling the money spent on Oil subsidies not worth even thinking about. I wonder if there might be a bit of hypocrisy in your sudden interest in this money. hmmm. Nothing to do with politics right? lol

    "Does that prove the White House engaged in cronyism, shoveling cash toward a political ally? Not necessarily. Democrats have pointed out that Solyndra’s loan process was initiated by the Bush administration and that many key investors were Republicans. Still, there could have been other reasons the deal was hastened. As a former Clinton energy aide stressed to me, it was arguably a mistake to sell the loan guarantees as job-creating stimulus (the program was expanded as part of the 2009 stimulus bill). “It means you try to force huge amounts of money quickly through processes that aren’t quite ready yet,” the aide said. “It’d be better to have a calmer, steadier source of funding.”"

    Thats a very fair analysis.
    Yeap, it's all Bush's fault LMFAO.

    Typical, but I would agree that it is a minor amount of money, yet so celebrated by Obama and the left. It's not about the money, but about the comments Obama (the closet republican) made about Solyndra.

    By the way, the account I call on who was left short on this bankruptcy will weather it. Thanks for your concern.

    Awarding a contract to a firm is NOTHING like handing a firm a preferential loan. I would agree that cronyism exists in both cases, but they are not the same. At least with a contract one is entitled to consideration. Do you even know what that means?

  9. #9
    Havakasha is offline
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    Siriusly Angry. No one said its all Bush's fault. No one should say its all Obama's fault. No would should take the Solyndra situation out of context and exaggerate it to make cheap political points. Do you understand what that means?

    Glad to hear the account you deal with will survive. Didnt know that fact. Thanks very much.

    P.S. Is Obama the first President you have called for the Impeachment of? That was a pretty crazy
    comment.

    You used the word IDEOLOGY above. Did you forget your railing against that word, or are just
    forgetful. Jesus. I just cant keep up with all your contradictions and hypocrisy.
    Last edited by Havakasha; 09-20-2011 at 09:39 PM.

  10. #10
    Havakasha is offline
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    U.S. Solar Industry Employs 100,000 a Growth of 6.8%

    If you listened to people like S&L and others you would think it had all collapsed.

    http://www.dailykos.com/story/2011/0...?via=spotlight

    20, 2011 AT 08:01 AM PDT
    US Solar Industry Employs 100,000, a Growth of 6.8% Over Last Year.
    byHoundDogFollowforKosowatt

    While the bankruptcies at Solyndra and Evergreen are sad, as a whole, the US solar industry is largely, healthy and still growing, despite global price and trade wars. Shakeouts in rapidly growing new industries are not unusual. Brian Merchant, reports in Treehugger, that U.S. Solar Industry Now Employs 100,000 People, Grew 6.8% Since August 2010 I don't mean to ignore the possible need for a US industrial policy to help protect the solar industry from unfair international competition, especially from China. After inventing most of the technology, and leading the way in research and development, the US now has only 7% of the global market share of the rapidly growing and vital solar photovoltaic industry.

    Don't let the Solyndra talk fool you: The clean energy sector is still booming. ... In fact, renewable energy remains one of the few sectors to see consistent growth over the last couple years.
    A new report highlights that health, revealing that the solar industry employs over 100,000 people, and added over 6,700 jobs in the last 12 months alone.

    •"As of August 2011, there are 100,237 solar workers in the U.S. in all 50 states.

    •Across the solar supply chain, from installers to balance of system (BOS) manufacturers, to yes, even solar PV manufacturers, that's a 6.8% growth rate since August 2010.

    •In terms of exact numbers, there were net 6,735 new solar jobs created since August 2010.

    While the failure of Solyndra and Evergreen are troubling, the reasons are complicated, so we should be cautious of the conclusions we draw. Part of the extra challenge that US producers face is that China has targeted dominance of the emerging solar industry as a top national economic goal, in the same way the Japanese targeted auto, consumer electronics, and computers industries in the 1950 and 60s.

    Large government subsidies tied with an aggressive low-cost producer strategy enabled the Chinese to drop prices for solar voltaic by 42% percent this year, after over 50% in the previous 2 years.

    Solyndra's technology promised lower cost in the long-term, based on a new copper indium gallium selenide, CIGS, technology, however trying to ramp up new technology R+D prototypes during an industry price war and global trade war proved too challenging. They did not expect the prices to fall 42% this year so far, and 50% in the previous two years when making their business plans.

    Other companies, are still trying to gain competitive advantage with the new CIGS approaches, and may succeed.

    In Analysis: Solar startups plough ahead despite Solyndra, Nicholas Groom reports that industry experts suggest that the CIGS technology used by Solyndra still has price advantages, new entrants may be able to exploit. The challenge is not the technology but their ability to raise capital at a time when poly-silicon manufacturers are aggressively cutting prices, 42% in this last year, and especially those manufacturers based in China.

    While the thin film panels using CIGS, or copper indium gallium selenide, have been slow to penetrate the market, one maker, Heliovolt, got a boost on Monday when it announced that South Korea's SK Group would make a $50 million investment to help commercialize its technology.
    Last month, Solyndra succumbed to industry pressure -- saying it could not get its costs down quickly enough to compete with Chinese rivals and had failed to secure additional funding. It filed for bankruptcy a few days later. ...

    CIGS solar panels have long been seen as potential challengers to traditional silicon-based panels because they cost less to manufacture and have the potential to generate close to as much electricity from the sun's light. ...

    Nanosolar, which has raised about $400 million in venture funding, said its manufacturing costs will be below $1 per watt next year. That compares with manufacturing costs of about $1.10 for the lowest-cost silicon manufacturers, but is still well above the 75 cents a watt of industry cost leader First Solar Inc, which uses cadmium telluride in its panels.

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