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2011-08-31 Economy
Solyndra Shutting Its Doors - President Obama touted the facility only a year ago
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Posted by DarthVader 2011-08-31 11:51|| || Front Page|| [11134 views ]  Top

#1 The carcass will be picked over for 10 cents on the dollar and all the equipment shipped to China. Which nation is Obama supposed to be stimulating?
Posted by Eohippus Phater7165 2011-08-31 12:11||   2011-08-31 12:11|| Front Page Top

#2 I think you answered your own question.
Posted by tu3031 2011-08-31 12:13||   2011-08-31 12:13|| Front Page Top

#3 I suspect this place only existed as a mechanism to extract cash from taxpayers and investors. I bet big chunks of assets are now sheltered someplace like Grand Cayman.
Posted by Glenmore 2011-08-31 13:02||   2011-08-31 13:02|| Front Page Top

#4 The company employs a little more than 1,000 employees worldwide, according to its website.

Not anymore...
Posted by Inspector Clouseau 2011-08-31 14:52||   2011-08-31 14:52|| Front Page Top

#5 So it worked out exactly as the first un-American president hoped it would.
Posted by Hellfish 2011-08-31 15:30||   2011-08-31 15:30|| Front Page Top

#6 When obooboo said "I'm the only one standing between you and the people with the pitchforks," he had no idea how prophetic he was being. (Smiles...)
Posted by M. Murcek 2011-08-31 16:32||   2011-08-31 16:32|| Front Page Top

#7 The carcass will be picked over for 10 cents on the dollar and all the equipment shipped to China. Which nation is Obama supposed to be stimulating?

When the dollar is only worth a nickel, will that represent a clawback?
Posted by M. Murcek 2011-08-31 16:34||   2011-08-31 16:34|| Front Page Top

#8 In case you missed the article from June.

Solyndra’s DOE Solar Loan Under Investigation

Snippet:
Accusations of political favoritism and shady deals were traded based on the fact that George Kaiser, one of the larger investors in Solyndra, through Argonaut Equity, was a bundler of campaign funds for the Obama presidential campaign.
Posted by DepotGuy 2011-08-31 16:59||   2011-08-31 16:59|| Front Page Top

#9 For the record, the money that went into this rat hole includes 1 1/3 BILLION in private capital in addition to the porkulus cash, an enormous burn even for a hardware company. The venture capital funds that now will have to explain to their limited partners why they were playing the crony capitalist game by putting in equity after the DOE loan include Argonaut, Artis, CMEA, Madrone, Redpoint, Rockport, USVP and Virgin Green.

The last financing listed on Venturesource for Solyndra was a credit facility for $186m and change in February by 'undisclosed' financiers.

My guess is the company breached the covenants on its debt, the creditors are now in possession, and the venture capital investors will be wiped out. Serves them right for trying to suck on the Federal teat instead of building honest businesses.
Posted by Nero 2011-08-31 18:23||   2011-08-31 18:23|| Front Page Top

#10 I don't know how to feel; every time the Waffler-in-Chief visits someplace or puts a wager down, he loses or the place he visited goes T.U.
He is supposed to come to Seattle in September. Will that shut the libs down or kill Boeing?
Posted by USN,Ret. 2011-08-31 22:19||   2011-08-31 22:19|| Front Page Top

#11 "Will that shut the libs down or kill Boeing?"

The Bambi Administration is already trying to kill Boeing, USN. :-(
Posted by Barbara 2011-08-31 22:21||   2011-08-31 22:21|| Front Page Top

#12 I've driven past this trainwreck a couple of times over the last couple of years - in the middle of a recession they were working 24-hours per day to complete the facility. Construction lights blazing all through the night, construction equipment and hardhats all over.

Told my kids at the time that if there was real money to be made the government wouldn't be involved. Sorry to say that I was right.
Posted by Leigh 2011-08-31 22:44||   2011-08-31 22:44|| Front Page Top

#13 The Bambi Administration is already trying to kill Boeing, USN. :-(
I know Barbara. Perhaps I should have restated to something like ripping the heart out of Boeing. As you can imagine, the libtard press, WA state gov't and IAM locals are all making BCAC out to be the bad guy and that bambi is riding in on his white unicorn to save them all. :( "puke"
But at least I can rest easy knowing the even THE ONE can't screw up the Mariners any more than they already are......
Posted by USN,Ret. 2011-08-31 23:23||   2011-08-31 23:23|| Front Page Top

#14 Soylyndra Green is UNEMPLOYED PEOPLE!

You and I might find this exercise in teat-sucking to be Epic Fail (and it is!), but I bet the founders/company officers made a rather nice living since the company started in 2005; probably some people along the financing food chain also. Sucks to be a tax-payer or investor not in on the deal, though.
Posted by SteveS 2011-08-31 23:37||   2011-08-31 23:37|| Front Page Top

#15 Everything he touches turns to sh*t.
Posted by Mad Eye Glash2681 2011-08-31 23:52||   2011-08-31 23:52|| Front Page Top

23:54 Mad Eye Glash2681
23:52 Mad Eye Glash2681
23:37 SteveS
23:23 USN,Ret.
22:44 Leigh
22:31 trailing wife
22:21 Barbara
22:19 BrujoTejano
22:19 Barbara
22:19 USN,Ret.
21:50 Pappy
21:35 tu3031
20:48 Anguper Hupomosing9418
20:42 lotp
20:12 Procopius2k
20:03 Redneck Jim
20:02 JosephMendiola
19:58 Cincinnatus Chili
19:50 Uncle Phester
19:46 Uncle Phester
19:43 JosephMendiola
19:38 Pappy
19:36 SteveS
19:33 JosephMendiola









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