Skip to comments.Bankrupt solar panel firm took stimulus money, left a toxic mess, says report
Posted on 10/30/2013 3:07:52 PM PDT by lowbridge
A Colorado-based solar company that got hundreds of millions of dollars in federal loan guarantees before going belly-up didn't just empty taxpayers' wallets - it left behind a toxic mess of carcinogens, broken glass and contaminated water, according to a new report.
The Abound Solar plant, which got $400 million in federal loan guarantees in 2010, when the Obama administration sought to use stimulus funds to promote green energy, filed for bankruptcy two years later. Now its Longmont, Colo., facility sits unoccupied, its 37,000 square feet littered with hazardous waste, broken glass and contaminated water. The Northern Colorado Business Report estimates it will cost up to $3.7 million to clean and repair the building so it can again be leased.
As lawyers, regulators, bankruptcy officials and the landlord spar over the case, the building lies in disrepair, too contaminated to lease, the report stated.
The owner of the property tried to force a bankruptcy trustee to clean the facility, but the report said it would "place humans at imminent and significant health risk." One of the hazards is the presence of cadmium, a cancer-causing agent that is used to produce the film on the solar panels, the report said.
While the loan guarantees exposed taxpayers to hundreds of millions of dollars, the federal government lost a total of $70 million backing the failed company.
(Excerpt) Read more at foxnews.com ...
Where the heck are my free solar panels in all of this 0bamaScamming?
Time to move on. The government only lost $70 million. The rest was lost by Obama’s greedy banker friends.
Cadmium is currently about $0.78 per pound ... if the regulators promise not to look too close I’ll clean it up for free..
Quite honestly this sounds like an insurance scam ,,, the owner wants to cash out of a non-leasable (even if it was perfect) building ... knowing it will never rent out in this economy.
Their website probably didn’t work either...
These payoffs and slush funds went to most incompetent in society
The toxic mess should be dug up and dumped on obamas chcago property. It seems only fair that he should have to deal with it.
They left a toxic mess in DC. They might as well leave one at their factory too.
Thank you for calling the Obama Administration.
Please select a recorded excuse you would like for the issue.
Press 1 for “What difference, at this point, does it make?”
Press 2 for “I was not made aware of...
Press 3 for “The previous administration...”
Press 4 for “Let me be clear....”
Press 5 for “The Republicans have blocked....”
Press 6 for “Another phony scandal”
Left a toxic mess?
Just one chapter of the entire Obama Legacy.
The full impact of his existence will be a toxic mess.
Press 7 for Unexpected
According to the Denver Post, the Abound sites have been cleaned up. http://www.denverpost.com/ci_23621546/bankrupt-abound-solars-toxic-wastes-cleaned-at-4
What are the names and are there any pictures of the principle stockholders, board members and the major corporate officers? How much was contributed by this corporation and or its stockholders, officers or directors to the “Divine One”and his party? Don’t let the vermin hide behind the corporate form. Interesting patterns will develop.
shades of clinton.. stains left behind.. and more..
It does seem that way...
or being a taxpayer
One heckuva Green Industry you have going there... Not like evil Carbon.
Thank you Obama..The next time you want to 'SOCIALIZE' any business.... try a lemonade Stand in the Mojave Desert!! If it can make a profit, you know business -- if it FAILS, it would show you are STUPID!!!
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