Caption anyone?
Posted on 10/11/2011 7:48:59 AM PDT by tcrlaf
How did a failing California solar company, buffeted by short sellers and shareholder lawsuits, receive a $1.2 billion federal loan guarantee for a photovoltaic electricity ranch project—three weeks after it announced it was building new manufacturing plant in Mexicali, Mexico, to build the panels for the project.
The company, SunPower (SPWR-NASDAQ), now carries $820 million in debt, an amount $20 million greater than its market capitalization. If SunPower was a bank, the feds would shut it down. Instead, it received a lifeline twice the size of the money sent down the Solyndra drain.
Two men with insight into the process are SunPower rooter Rep. George R. Miller III, (D.-Calif.), the senior Democrat on the House Education and Workforce Committee and the co-chairman of the Democratic Steering and Policy Committee, and his SunPower lobbyist son, George Miller IV.
SNIP--------
According to the SunPower PAC filings for its activities in the 2010 midterm election campaign cycle, it donated more than $36,000. Of the $15,650 donated to House and Senate candidates, $14,650 went to Democrats, with these top recipients: $4,000 to Sen. Harry Reid (D.-Nev.), $3,000 to Rep. Gabrielle Gifford (D.-Ariz.) and $2,900 Sen. Barbara Boxer (D.-Calif.).
The congressman was not forgotten either. The SunPower PAC remembered him with $500 for his 2010 campaign. While SunPower was a financial partner in the congressman’s reelection campaign, it straight-out hired his son.
(Excerpt) Read more at humanevents.com ...
I'm SURE we'll be seeing this on NBC News tonite, right?
How is it bad for Obama?
Solyndra hasn’t hurt him in any tangible way that I can see.
Way to go, GOP.
btt
As to the content - will any of this ever catch up to the crooks? It almost seems the purpose of the Occupy protesters is to monopolize the news cycles. Can't hear anything else on the hourly network news...
SonPower sounds like a Christian group,
and since Gang Green is anti-Christian (worships the creation instead of the creator),
this has to be in error.
The original name was Eos Electric Power, after the Greek goddess of the dawn
The list, ping
Let me know if you would like to be on or off the ping list
Figures... paganism on the left, who'dathunkit?
actually Solyndra has been really bad for Obama and Democrats - it has undermined the legitimacy of his "green-energy" push, it has been the first major scandal to hurt his image as honest, and it has definately added to the growing perception of him as incompetant. Trust me, we don't want Solydra or Fast & Furious to end up with Obama or Holder pushed out of office.
Obama & Holder are doing too good of a job at discrediting the Democrat party & do-gooder liberalism - give them another 16 months and they should accomplish long lasting, Herbert hoover type damage to the democrat party.
Just made Drudge in red. :-)
Nice.
Solyndra was the tip of the iceberg, and SonPower is just the next one in what will likely be a long line of these companies that will ultimately prove to be the black hole the regime has flushed billions of dollars down. No matter what, that money is gone, but the debt we owe the Communist Chinese for it certainly remains.
This is but one of the reasons why unemployment will likely remain high for at least the next decade...
Wow. If anyone knows anything about solar, SunPower is one of the leading lights in the industry. Trouble for them is trouble for the industry.
That said, Bush plowed a lot of money into the solar companies too, as well as federal tax breaks. The blame isn’t confined to Obama by a long shot.
Holder can go... he’ll be gone by Christmas.
I realize that it hurt the retarded green movement, but I want to know how Obama giving 535 million tax dollars to a company he was invested in that failed has hurt him.
I don’t care about his image, it’s dog poop. What price is he going to have to pay for this action?
Hope you're right but these exposures don't get much traction outside of conservative sites. I am constantly disappointed that most of my liberal acquaintances know nothing of these scandals and are reluctant to believe in the facts. Sad!!
George Miller’s main goal in life is to destroy all farming in the Central Valley of CA. He hates trees “growing in rows.” He’s cookoo/evil/both.
Caption anyone?
“Solyndra hasn’t hurt him in any tangible way that I can see.”
Yeah, the GOP is slow to act, probably because the congress members want time to hold hearings, etc. I could imagine the Chairman calling up oversight committees and being stalled until the committees process the matter.
In today’s face pace, we need faster response. Democrats understand that.
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