Your Questions About Solar Panel Manufacturers

Lizzie asks…

Was Solyndra a costly fumble or something else?

In Rush to Assist Solyndra, U.S. Missed Warning Signs
Luke Sharrett/The New York Times

President Obama toured Solyndra, a solar panel manufacturer in Fremont, Calif., in May 2010. There were signs that the company's business plan was imploding.
By ERIC LIPTON and JOHN M. BRODER
Published: September 22, 2011

WASHINGTON — President Obama’s visit to the Solyndra solar panel factory in California last year was choreographed down to the last detail — the 20-by-30-foot American flags, the corporate banners hung just so, the special lighting, even coffee and doughnuts for the Secret Service detail.

But behind the pomp and pageantry, Solyndra was rotting inside, hemorrhaging cash so quickly that within weeks of Mr. Obama’s visit, the company canceled plans to offer shares to the public. Barely a year later, Solyndra has become one of the administration’s most costly fumbles after the company declared bankruptcy, laid off 1,100 workers and was raided by F.B.I. agents seeking evidence of possible fraud.

Solyndra’s two top officers are to appear Friday before a House investigative committee where, their lawyers say, they will assert their Fifth Amendment right against self-incrimination.

The government’s backing of Solyndra, which could cost taxpayers more than a half-billion dollars, came as the politically well-connected business began an extensive lobbying campaign that appears to have blinded government officials to the company’s financial condition and the risks of the investment, according to a review of government documents and interviews with administration officials and industry analysts.

While no evidence has emerged that political favoritism played a role in what administration officials assert were merit-based decisions, Solyndra drew plenty of high-level attention. Its lobbyists corresponded frequently and met at least three times with an aide to a top White House official, Valerie B. Jarrett, to push for loans, tax breaks and other government assistance.

Administration officials lay the blame for Solyndra’s problems in part on the global collapse in the price of solar energy components, which forced the company to sell its innovative solar panels at less than it cost to make them. Some lawmakers on Capitol Hill question whether the firm’s executives may have engaged in a cover-up of their precarious financial condition, allegations the company denies.

But industry analysts and government auditors fault the Obama administration for failing to properly evaluate the business proposals or take note of troubling signs already evident in the solar energy marketplace.
“It was alarming,” said Frank Rusco, a program director at the Government Accountability Office, which found that Energy Department preliminary loan approvals — including the one for Solyndra — were granted at times before officials had completed mandatory evaluations of the financial and engineering viability of the projects. “They can’t really evaluate the risks without following the rules.”
http://www.nytimes.com/2011/09/23/us/politics/in-rush-to-assist-solyndra-united-states-missed-warning-signs.html?ref=politics

ssadmin answers:

I knew when Obama was talking about green jobs in 2007 that it was going to be an incredible waste of money. If these technologies were able to produce electricity at a reasonable cost they would not have a problem getting private funding.

At the very least it shows extremely poor judgement by the President.

Unfortunately Obama will never learn from this mistake. He never lets reality interfere with his ideology. If he thinks we need green jobs he will continue to throw trillions of dollars at it.

The only way to stop this crap is to vote him out of office

Paul asks…

How hilarious is it that the Obama administration is now trying to blame the Solyndra scandal on Bush?

http://www.npr.org/2011/09/16/140530082/weekly-standard-solyndra-debacle-blame-bush

Is there anything they won't blame him for?

Mark Hemingway is a writer for The Weekly Standard.

The Obama administration is now pushing a rather dubious defense for handing out $535 million in stimulus funds to the now-bankrupt solar panel manufacturer Solyndra. They're blaming Bush:

“After spending months touting the Obama administration's decision to loan $535 million to the California solar energy upstart Solyndra, top officials took a new tack Wednesday while testifying before Congress about the company's abrupt shut-down and bankruptcy: the loan, they said, was actually the Bush administration's idea. The Energy Department's top lending officer told Congress that the Solyndra loan application was not only filed during President Bush's term, but it surged towards completion before Obama took office in January 2009.

‘By the time the Obama administration took office in late January 2009, the loan programs' staff had already established a goal of, and timeline for, issuing the company a conditional loan guarantee commitment in March 2009,' said Jonathan Silver, who heads the Energy loan program.

Republicans pushed back hard against this version of events, unearthing internal Energy Department emails that indicate the panel evaluating the loans had made the unanimous decision to shelve Solyndra's application two weeks before Obama took office.”

If the first consideration of Solyndra came during the presidency of George W. Bush, that means that the application for the loan guarantee came after the Energy Policy Act of 2005 was passed. Clearly, this type of loan guarantee program was not a Bush Depratment of Energy (DOE) priority. The fact that Solyndra submitted a loan application does not mean the Bush White House or DOE approved the program or did more than accept the application and shuffle the paperwork a bit. And the DOE emails mentioned above appear to confirm that is all that happened.

It only became a White House priority after Obama took office. As the same ABC news report above goes on to note, “The Solyndra loan was so central to this strategy that the administration initially planned to have Obama personally announce it, and later sent the president to the company's solar panel manufacturing facility in Fremont, California to celebrate its work.”

ssadmin answers:

Don't… Don't take away their crutch man, its just cruel.

Bush made them do it. Just accept it.

Betty asks…

What do liberals think of Obama's favorite greenie company going bankrupt in a year, and wasting 1/2 Billion?

House probing $528M loan to failed solar company
By The Associated Press

WASHINGTON (AP) – House Republicans on Wednesday questioned whether the White House rushed approval of a government loan guarantee for a solar panel manufacturer before a review was complete. The company has since filed for bankruptcy, leaving taxpayers on the hook for the $528 million loan.

Solyndra Inc. was a major presence in Washington and spent millions lobbying the federal government, particularly about the Energy Department's loan guarantee program. Its executives raised thousands of dollars for President Barack Obama and Democrats. Obama visited its Fremont, Calif., headquarters to highlight the kind of renewable energy companies worthy of economic stimulus money.

The congressional panel examining the loan disclosed emails that appeared to show senior staff at the Office of Management and Budget chafing about having to conduct “rushed approvals” of federal loan guarantees designed to help jumpstart the nation's renewable energy industry.

GOP lawmakers said a groundbreaking for Solyndra featuring Vice President Joe Biden was scheduled for September 2009, even before the Energy Department had submitted its final paperwork on the terms of the OMB loan.

“We would prefer to have sufficient time to do our due diligence reviews and have the approval set the date for the announcement rather than the other way around,” said one of the emails from an unnamed OMB aide to Biden's office.

http://wvgazette.com/ap/ApTopStories/201109151956

ssadmin answers:

Listen to the IDIOT “chewy”!

He might just as well have said, “Oooops.”

EVERYTHING Buckwheat has touched has turned to shi+.

Nancy asks…

Whoa: White House Pressured Solyndra to Postpone Layoffs Until After 2010 Elections?

Hello, bombshell revelation:

The Obama administration urged officers of the struggling solar company Solyndra to postpone announcing planned layoffs until after the November 2010 midterm elections, newly released e-mails show. Solyndra, the now-shuttered California company, had been a poster child of President Obama’s initiative to invest in clean energies and received the administration’s first energy loan of $535 million. But a year ago, in October 2010, the solar panel manufacturer was quickly running out of money and had warned the Energy Department it would need emergency cash to avoid having to shut down.

Solyndra’s chief executive warned the Energy Department on Oct. 25, 2010, that he intended to announce worker layoffs Oct. 28. He said he was spurred by numerous calls from reporters and potential investors about rumors the firm was in financial trouble and was planning to lay off workers and close one of its two plants.

But in an Oct. 30, 2010, e-mail, advisers to Solyndra’s primary investor, Argonaut Equity, explain that the Energy Department had strongly urged the company to put off the layoff announcement until Nov. 3. The midterm elections were held Nov. 2, and led to Republicans taking control of the U.S. House of Representatives. “DOE continues to be cooperative and have indicated that they will fund the November draw on our loan (app. $40 million) but have not committed to December yet,” a Solyndra investor adviser wrote Oct. 30. “They did push very hard for us to hold our announcement of the consolidation to employees and vendors to Nov. 3rd – oddly they didn’t give a reason for that date.”

ssadmin answers:

Obama's trying to manipulate a business strictly for political gain? Say it ain't so!

Charles asks…

How's that promise of “transparency” with obamas administration figuring in your upcoming 2012 voting decision?

http://www.rediff.com/news/2009/jan/22obama-promises-transparency-and-rule-of-law.htm

quoting…

Obama said the way to make government responsible is to hold it accountable. And the way to make government
accountable is to make it transparent so that the American people can know exactly what decisions are being made, how they're being made, and whether their interests are being well served.

……………………..and presently………………………………

http://news.yahoo.com/white-house-rebuffs-subpoena-failed-solar-firm-211337315.html

quoting…

Associated Press (AP) — The White House on Friday strongly rebuffed a subpoena from House Republicans seeking all communications about a failed solar panel manufacturer that received a half-billion dollar federal loan guarantee.

Ruemmler said those documents show no wrongdoing or political favoritism by the administration. She added that curiosity alone is not a justification to encroach on the Executive Branch's longstanding confidentiality interests.

and the “no wrong doing” in question…

quoting…

Documents already obtained by the committee show that the administration knew the firm had problems, yet continued to support it.

ssadmin answers:

That's nothing. Look at the major Whitehouse blackout on NAFTA's “Fast and Furious” program. Or the denial of boots on the ground in Libya until we found out the CIA was operating there. Or “we have to pass it to find out what's in it”. Ludicrous. People that didn't see this coming in 2008 probably won't see it coming in 2012.

I still don't think Obama's supporters realize that Obama continued and broadened the major Bush era polices.

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