Skip to comments.Solyndra Shutting Its Doors ( Goverrnment guaranteed loan of 535 million Dollars for Green Jobs)
Posted on 08/31/2011 8:59:15 AM PDT by Ernest_at_the_Beach
"I was told by a security guard to get my [stuff] and leave," one employee said. The company employs a little more than 1,000 employees worldwide, according to its website.
Shortly after it opened a massive $700 million facility, it canceled plans for a public stock offering earlier this year and warned it would be in significant trouble if federal loan guarantees did not go through.
The company has said it will make a statement at 9am California time, though it's not clear what that statement will be. An NBC Bay Area photographer on the scene reports security guards are not letting visitors on campus. He says "people are standing around in disbelief." The employees have been given yellow envelopes with instructions on how to get their last checks.
(Excerpt) Read more at nbcbayarea.com ...
H/T to the Drudge Report.
“people are standing around in disbelief.”
stuned. Oh yeah.
stripped of their entitlement subsidized green jobs.
Future TEA Party participants?
You’ve been fleeced long enough.
“Green Jobs” = flushing money down a rat hole
Was watching Varney on the Fox Business Channel this morning ...He was talking about a horrendous cost of some Green job s in Seattle in winterizing homes...actually ended up doing a few homes for millions of dollars.
Solar cells are a mature technology, and as such the manufacturing has been moved offshore to reduce costs.
Half a billion dollars???? Are you kidding me? I would say that the US is on its way to becoming Spain, but Spain is changing course. Obamanomics.
Their two large facilities are visible from I-880.
This green job crap IS A JOKE. We have poured billions of taxpayer dollars into a multitude of failed ventures.
The Left in America DOES NOT WANT “Clean” energy.
They want politically-correct energy beholden TO THEM, that they CONTROL.
If they were concerned about Clean Energy production, we’d be building hydro-electric dams all over America.
Seattle .. lol a fiasco 20 million,, 3 houses 14 jobs, mostly administrative..
FRom the Murky News
Fremont solar tech firm Solyndra shutting down, laying off 1,100 employees
President Barack Obama held it up as a poster child for clean energy, saying during a 2010 visit to its headquarters that “companies like Solyndra are leading the way toward a brighter and more prosperous future.”
And despite having raised more than $1 billion in venture capital and receiving a $535 million loan guarantee from the Department of Energy, Solyndra struggled. One reason for its woes is that low-cost Chinese manufacturers are building massive factories that have rapidly driven down the price of solar panels and shifted more than 50 percent of production to China.
They couldn’t get ramped up fast enough to compete?
How the heck did we ever win WW2?
The list, ping
Let me know if you would like to be on or off the ping list
I think they renovated a total of like 5 homes - that was it.
Thing is, you hear these stories one day, then they’re pretty much gone the next day.
Tomorrow, we’ll get to find out all we need to know about Beyonces belly.
Meanwhile, nobody goes to jail - whether it’s a few tens of millions or like this one, HUNDREDS OF MILLIONS...
I knew an engineer who was promised loads of stock options to join them. Two years later he was out of a job.
We tried to tell him it was a Pelosi Pipe Dream.
These Green Companies can’t even stay in business long enough to kick into the Obama 2012 campaign.
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