Another Green Company bites the dust
At the cost of $535 Million taxpayer dollars going down the rathole.
From
Zombie writing at PJ Tattler:
Breaking: Solyndra solar plant closes; $535 million vanishes; Obama curse strikes again; UPDATE: Bankrupt
This ought to be the top story on every news outlet nationwide, and ought to be the death knell for the �Stimulus� concept and for the �green jobs� fallacy. But I get the feeling the MSM will bury it.
When workers showed up at the Solyndra solar-panel factory in Fremont, California, this morning � they were ordered to leave by guards, and then given instructions on how to pick up their final checks. In other words, the dream is over:Solyndra Shutting Its Doors
Solyndra, a major manufacturer of solar technology in Fremont, has shut its doors, according to employees at the campus.
�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.
Solyndra was touted by the Obama administration as a prime example of how green technology could deliver jobs. The President visited the facility in May of last year and said �it is just a testament to American ingenuity and dynamism and the fact that we continue to have the best universities in the world, the best technology in the world, and most importantly the best workers in the world. And you guys all represent that.�
And of course:
UPDATE I:
Maybe this is a clue as to why Obama gave $535 million to Solyndra in the first place � it was a union stronghold.
An administration that refuses to study history or to learn from people who have tried the same thing and failed just as spectacularly.
Doesn't hurt that one of Solyndra's investors - George Kaiser -
contributed between $50K and $100K to Obama's 2008 campaign.
When I read about crap like this, I am always amazed that the actual dollar amount is so little. I would have been more than happy to contribute a hundred bucks into McCain's coffers if I knew that it would be matched by a couple thousand like minded citizens and that the sum total would be presented as being from this PAC.
Maybe it's time for a "Study your History and don't do anything Stupid" PAC...
Posted by DaveH at August 31, 2011 5:43 PM