Perhaps you should have Drilled Baby Drilled Mr. President
Solyndra Not Sole Firm to Hit Rock Bottom Despite Stimulus Funding
Solyndra, the solar panel company whose highly publicized failure and consequent investigation by federal authorities has flashed across headlines recently, isn’t the only business to go belly up after benefiting from a piece of the $800 billion economic stimulus package passed in 2009.
At least four other companies have received stimulus funding only to later file for bankruptcy, and two of those were working on alternative energy.
Evergreen Solar Inc., indirectly received $5.3 million through a state grant to open a $450 million facility in 2007 that employed roughly 800 people. The company, once a rock star in the solar industry, filed for bankruptcy protection last month, saying it couldn’t compete with Chinese rivals without reorganizing. The company intends to focus on building up its manufacturing facility in China.
Meanwhile Back at the Ranch
- BOMBSHELL CBS REPORT: 11 More Solyndras In Obama Energy Program, 5 Going Bankrupt !! (agirlwhoknowsherownmind.wordpress.com)
- CBS: Obama admin spent $6.5 billion on risky green-tech ventures; Update: Obama proposes to save (tarpon.wordpress.com)
- US Energy Department invested $6.5B in risky “Green” ventures (seeker401.wordpress.com)
- CBS Exposes ‘the New Solyndras’ – Will ABC and CBS Follow Suit? (papundits.wordpress.com)
- Higher gas prices were caused by Obama’s green energy policies (winteryknight.wordpress.com)
- You: Stalled Clean-Energy Loan Program Feels Solyndra’s Chill (nytimes.com)