Skip to comments.Flabeg, solar energy company in Findlay, going bust ( Pittsburgh's Solyndra )
Posted on 04/10/2013 12:26:03 AM PDT by george76
A Findlay-based solar power firm that was awarded nearly $20 million in state and federal tax breaks and grants ceased production last week and cannot afford to pay $197,000 that terminated employees say is owed in severance packages.
Flabeg Solar U.S. Corp. will "most probably" file for Chapter 11 bankruptcy but is open to takeover offers, said its Pittsburgh attorney, Robert Lampl. Flabeg's parent company in Germany has cut off funding for the subsidiary, which operated in a 4-year-old, 228,000-square-foot facility covering more than three acres near the Pittsburgh International Airport.
Over the past several years, the solar industry has seen several high-profile bankruptcy cases. They include Solyndra, the California solar cell firm that secured a $535 million loan guarantee from the U.S. Department of Energy before going bankrupt in 2011, leading the Treasury Department to launch an investigation into the loan arrangement.
(Excerpt) Read more at post-gazette.com ...
Solar power in Pittsburgh. In March.
What could possibly go wrong?
Another Obama “green” company bites the dust!
He’s amassing quite a track record isn’t he?
Severance pay for employees that work for a “corporation” that produces nothing?
228,000-square-foot facility covering more than three acres near the Pittsburgh International Airport.
Not knowing your math might be part of the problem....
I work in Findlay, and I never even knew that company was there.
He sure has the midas touch, doesn’t he.
5.2 acres is more than 3 acres, so technically they are right.
And it may be a two-story structure.
Likely you are right, for at least part of it. That makes more sense.
Reverse Midas...everything he touches turns to ...
Thats true...but you get the sense from the context somebody thought “over three acres” was PLENTY of room.