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Posted on 11/16/2011 11:27:47 AM PST by NormsRevenge
WASHINGTON (AP) — The Obama administration wanted the failing solar energy company Solyndra to delay announcing an early round of employee layoffs until after the 2010 midterm elections, according to newly released emails.
An October 2010 email from a Solyndra investment adviser to a colleague said Energy Department officials were pushing "very hard" to delay making the layoffs — an early sign of the company's financial woes — public until Nov. 3, 2010 — the day after the midterm elections.
"Oddly they didn't give a reason for that date," the email states. The email was released Wednesday by the House Energy and Commerce Committee, along with dozens of other emails related to the Solyndra investigation.
...
Solyndra announced dozens of layoffs on Nov. 3, 2010, after the election, but continued to receive federal assistance. The company, which received a $528 million federal loan in 2009, closed its doors on Aug. 31, 2011 and laid off its 1,100 workers.
The Oct. 30, 2010, email was from Steve Mitchell, managing director of Argonaut Private Equity, a major Solyndra investor, to George Kaiser, an Oklahoma billionaire who founded Argonaut and other firms. Kaiser was a "bundler" for President Barack Obama's 2008 campaign and a frequent White House visitor in 2009 and 2010. Argonaut invested $400 million in the solar company. Mitchell also served on Solyndra's board of directors.
Ken Levit, executive director of the George Kaiser Family Foundation, also received the email.
Energy Department spokesman Damien LaVera on Tuesday declined to confirm events described in the emails or to identify who at the Energy department may have urged the delay in the layoff announcement. He said "decisions about this loan were made on the merits."
Energy Secretary Steven Chu is scheduled to testify before the House energy panel on Thursday.
(Excerpt) Read more at news.yahoo.com ...
same reason as obamacare not going into effect until after the 2012 elections, if it’s not declared unconstitutional, first.
Barry tries to sneak things by without having to be responsible for their outcomes. Any bets that the Senate will finally pass a budget before the next cycle?
What a coincidence! Deval Patrick did the same thing with Evergreen Solar last November!
http://www.freerepublic.com/focus/f-news/2655268/posts
Evergreen shifts work to China
http://www.freerepublic.com/focus/f-news/2386999/posts
government never invests for monetary returns. they invest for political returns.
besides pure incompetence, this explains why gubmint investments nearly always hemmorage monetary losses.
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