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NEWS AND VIEWS THAT IMPACT LIMITED CONSTITUTIONAL GOVERNMENT

"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams

Thursday, September 1, 2011

Obama's "shovel ready" company goes broke


Green Shovel Ready Jobs go Bust
Comrade Obama tours Solyndra solar panel manufacturing facility in Fremont, California.
The company goes bankrupt sucking away hundreds of millions in tax dollars. 

$535 million Federal Green Energy loan guarantee blows up in Obama's face


SHOCK:  Supply and demand costs the government nothing out of the treasury.  If people want a product or service they will pay for it themselves out of their own pockets.

So more American jobs vanish to a Socialist Administration that does not under the basics of business or foreign policy. 
  • They subsidize a "green" product that people do not want and
  • They allow Chinese Communists to dump cheap subsidized solar panels into the American market. 
Solar start-up Solyndra LLC, succumbing to pressure from lower-cost Chinese rivals, said it has suspended operations and plans to file for bankruptcy, 15 months after President Barack Obama visited a company factory that was to be expanded with the help of a federal loan guarantee.

The Bankruptcy filing, expected next week, will make Solyndra the third U.S. solar company to seek bankruptcy protection in the last month. Former Wall Street high flyer Evergreen Solar Inc filed for Chapter 11 two weeks ago, followed four days later by SpectraWatt Inc, a private company that was backed by Intel Corp. reports Reuters.

Solyndra said it could not compete with bigger overseas rivals. Earlier this year, cuts to generous solar subsidies in No. 2 market Italy stalled development of solar projects and led to a global glut of solar panels that sparked a 25 percent drop in prices.

About 1,100 employees are being laid off immediately, it said in a statement.  A company spokesman said the bankruptcy filing would likely come early next week in Delaware.

State supported Chinese companies drive out Americans

Solyndra simply could not compete with "Chinese firms that have received billions of dollars in low-cost loans from state banks and have access to a well developed domestic supply chain for solar manufacturing," GTM Research analyst Shyam Mehta said. The company's relatively unproven CIGS technology was another key reason for its demise, he added.

Shovel Ready Green Marxist jobs.  Supply
and demand means nothing as long as
you have subsidies from the Producer Class.

"Solyndra has been swimming upstream ever since it entered the market," Mehta said.

The announcement is the latest in a series of disappointments for Solyndra, whose fall from grace has been tracked closely because it received a $535 million loan guarantee from the Department of Energy in 2009.

The company also made headlines in May 2010 when Obama paid a visit to the company's Fremont, California, factory.

Solyndra was the first company to receive a loan guarantee under an advanced clean energy program created in 2005. The Energy Department came under criticism last year when the company postponed plans to expand the Fremont factory, cut jobs and withdrew plans for an initial public offering.

At the time, U.S. firms were just beginning to smart from the rapid influx of cheap solar panels from China.




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2 comments:

Anonymous said...

Oboma has NOT brought CHANGE, In fact ~~ THE ONLY real THING needing CHANGE !


Was Barack Hussein Obama II.

Barack Hussein Obama II ( Who hates American Values )

Who is A " SELF PROCLAIMED Enemy " ~ of responsible, Morally Conscious HARD WORKING Americans.

oBOMAS supporters KNOW~ that Barack Hussein Obama II, WILL FORCE YOU to paY THEM, out of your PockeT ....

This UN~CHANGABLE fraud, has done His VERY BEST to Inspire VIOLENCE.

THESE ARE OBAMAS OWN WORDS.. saying “Bring it on” To his supporters.

Oboma ~ Demands Saying “Get ready for hand-to-hand combat with your fellow Americans”

– Obama has ALSO DECLARED to his Supporters“I want all Americans to get in each others faces!–

Obama demands !

“You bring a knife to a fight pal, we’ll bring a gun” –

Obama Cant wait to get everybody involved in some kind OF CONFRONTATION of some sort....

THESE ARE OBAMAS OWN WORDS..

Obama has ALSO DECLARED "Republicans are our enemies"-

**

Obama on ACORN Mobs: “I don’t want to quell anger. I think people are right to be angry! I’m
angry!”

ANGER VIOLENCE and more taxes..... THIS IS OBAMAS Change for america

/“Hit Back Twice As Hard”. He commands !

THESE ARE OBAMAS Very OWN WORDS..

*Obama on the private sector: ~~ “We talk to these folks…~ / so I know whose a*$ to KICK.“
OBOMA wants to KICK your a*$ /

Shouting THAT Republican victory would mean ~ “hand to hand combat”

HE IS EXPECTING people to kill & BE VIOLENT / for their immoral CAUSE
THIS IS WHAT HE LIVES FOR

THESE ARE OBAMAS OWN WORDS..
* Obama Tells democrats: “ I’m itching for a fight.” !

PLEASE go to reXes NEW WebsiTe ~ ! Oboma *( Just like Adolf Hitler~~ In that oBOMA~~~ Demands

! -- [ THE FINAL SOLUTION - For Un~Wanted Children.

Barak Obama A MURDERER .~Torturing UNWANTED babys on DEATH ROE

http://obomanationinfanticide.sharepoint.com/Pages/default.aspx

OBAMA supports TAKING a little NEW BORN innocent child.. / BORN. ALIVE ~sTabing it iN the head & SUCKs ITS BRAINS OUT.

He also demands, that a Child SURVIVING a FAILED ABORTION, Has no RIGHT to Life or medical care.

After having Just been tortured Nearly to death, in agony.

Gary said...

They say venting anger is good for your health. You should be healthy for decades now.