Beam me to Planet Gore !
Posted on 11/04/2010 6:26:35 AM PDT by sasquatch
It seems that bets on Solyndra are going sour — the government provided the company with a flagship $535 million Department of Energy loan guarantee for that first factory, even getting a visit from President Obama. But in June, the company yanked its IPO filing, but still raised another $175 million by selling promissory notes to existing investors.
(Excerpt) Read more at venturebeat.com ...
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Half a billion dollars from the taxpayer, and the result is worse than useless.
For that kind of money Obama could have spent another two days in India.
Thank God for an activist “Industrial Policy” where the brain-trusters, elites and geniuses in government select the winners in certain industries. It beats the inefficient capital allocation and risk management of free markets every time.
/s (really snarky s)
Ping.
Let me guess Unionized?
Even the government cannot create a market where one doesn’t exist.
Solyndra was touted by the Obama administration as a major success story of the economic stimulus bill.
And it turns out to be a colossal waste of money, a destruction of capital, a mistake that no-one making decisions with their own money would have made.
F these morons.
I was given a lead to call on them and my first reaction was “Uhm, NO”.
I won’t do business with any retarded group of A-holes who take money from the government as part of their business plan and gets a protected, nay, legislatively dictated market.
If the entrepreneur doesn’t see a market demand for products then it doesn’t exist, no matter how much money you throw at that sink hole.
Exactly right, and why everything is in the crapper. Government intrusion at every level of decision making, resulting in decisions that lead to failure. Real estate, Auto manufacturing, Energy, on and on.
It seems that all liberal ideas require government subsidies. But if they can’t make it in the marketplace, what makes anyone think they’re going to make it with a subsidy?
We will wind up wasting hundreds of billions of dollars on “green” schemes that don’t work out. Money that could have been used for something else - like employing the unemployed.
It seems that all liberal ideas require government subsidies. But if they can’t make it in the marketplace, what makes anyone think they’re going to make it with a subsidy?
We will wind up wasting hundreds of billions of dollars on “green” schemes that don’t work out. Money that could have been used for something else - like employing the unemployed.
——And it turns out to be a colossal waste of money——
To the Democrat insiders who actually have all that money in their bank accounts, it was not a waste. It was manna from progressive heaven. It was legal theft.
The point was not to create a green industry, the point was to redistribute taxpayer money to a favored few. The effort was therefore a great success and certainly not a waste.
You aren't selling anything when you issue bonds or promissory notes ;all you are doing is borrowing money from someone else.
So they are now another 175 million in debt.- tom
Those paying attention in the 1970s saw this same kind of nonsense happen during the Carter era.
>> So they are now another 175 million in debt.- tom
No, YOU are now another 175 million in debt, Captain!
But it’s for the children, so no amount is too much to spend. Don’t you want them to grow up in a world of cylindrical solar cells and a cool climate?
A’hey hey
A’ho ho
Climate change has got to go
do i really need the /sarc tag
Syn fuels, anyone ?
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