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Flabeg, solar energy company in Findlay, going bust ( Pittsburgh's Solyndra )
Pittsburgh Post-Gazette ^ | April 4, 2013 | Erich Schwartzel

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 ...


TOPICS: Crime/Corruption; Germany; Government; News/Current Events; Politics/Elections; US: California; US: District of Columbia; US: Pennsylvania
KEYWORDS: energy; flabeg; greenenergy; solar; solyndra

1 posted on 04/10/2013 12:26:03 AM PDT by george76
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To: george76

Solar power in Pittsburgh. In March.

What could possibly go wrong?


2 posted on 04/10/2013 1:43:15 AM PDT by martin_fierro (< |:)~)
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To: george76

Another Obama “green” company bites the dust!

He’s amassing quite a track record isn’t he?


3 posted on 04/10/2013 1:43:16 AM PDT by Forty-Niner (The barely bare berry bear formerly known as Ursus Arctos Horribilis.)
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To: george76

Severance pay for employees that work for a “corporation” that produces nothing?


4 posted on 04/10/2013 2:10:44 AM PDT by Minutemen ("It's a Religion of Peace")
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To: george76

228,000-square-foot facility covering more than three acres near the Pittsburgh International Airport.

Huh?

Not knowing your math might be part of the problem....


5 posted on 04/10/2013 3:01:59 AM PDT by Adder (No, Mr. Franklin, we could NOT keep it.)
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To: george76

I work in Findlay, and I never even knew that company was there.


6 posted on 04/10/2013 3:03:26 AM PDT by rightwingintelligentsia (Truth/Lies; Liberty/Tyranny--WHAT DIFFERENCE DOES IT MAKE??)
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To: martin_fierro

He sure has the midas touch, doesn’t he.


7 posted on 04/10/2013 3:08:05 AM PDT by SMM48
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To: Adder

5.2 acres is more than 3 acres, so technically they are right.

;-)


8 posted on 04/10/2013 5:24:17 AM PDT by thackney (life is fragile, handle with prayer)
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To: thackney

And it may be a two-story structure.


9 posted on 04/10/2013 6:14:52 AM PDT by FoxInSocks ("Hope is not a course of action." -- M. O'Neal, USMC)
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To: FoxInSocks

Likely you are right, for at least part of it. That makes more sense.


10 posted on 04/10/2013 6:22:25 AM PDT by thackney (life is fragile, handle with prayer)
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To: SMM48

Reverse Midas...everything he touches turns to ...


11 posted on 04/10/2013 6:35:07 AM PDT by hal ogen (First Amendment or Reeducation Camp?)
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To: thackney

Thats true...but you get the sense from the context somebody thought “over three acres” was PLENTY of room.

:]


12 posted on 04/10/2013 9:44:04 AM PDT by Adder (No, Mr. Franklin, we could NOT keep it.)
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