Aug 312011
 

May 26, 2010: President Obama gives a speech at the Fremont, CA, Solyndra, Inc. solar panel factory, declaring the $700 million facility “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. ”

Obama was there to celebrate $535,000,000 in loan guarantees from the DoE to Solyndra.

And today?

Solyndra to Declare Bankruptcy

Awesome. 1,000 workers have been invited to explore exciting new opportunities in not getting another paycheck from this shining example of the Federal Stimulus At Work.

 Posted by at 1:43 pm
  • Pat Flannery

    It was the Chinese solar array business that nailed it; they can turn out solar cells at a fraction of our price, and have pretty much cornered the world market on them.

    • admin

      Yup. Basing an economic recovery upon factories that make bulk commodities like solar panels makes about as much sense as basing it on factories that make rubber duckies or cat food. You simply cannot compete against commieslave labor when the commieslaves have access to all the latest manufacturing technology.

  • Claudia Collier

    When we bought our solar panels we made sure they were made in America. And until Americans start realizing that price isn’t everything, and start supporting their neighbors, friends, families, and local businesses, we are in for a rough transition.

    • admin

      > And until Americans start realizing that price isn’t everything, and start supporting their neighbors, friends, families, and local businesses…

      Does this “support” mean massive corporate welfare at taxpayer expense, to support business models that just don’t work?

      We are an over-regulated, over-taxed, over-Unionized nation competing against nations that work basically on slave labor. The answer here is not jingoistic “Buy American” campaigns, but instead to focus one what We do better than Them, while getting rid of needless regulations and business taxes.

  • ABC News did a story on the loan guarantee back in May.

    Did Obama Administration Cut Corners For a Green Energy Company?

    The Obama administration bypassed procedural steps meant to protect taxpayers as it hurried to approve an energy loan guarantee to a politically-connected California solar power startup …

    The loan guarantee, the administration’s first for a clean energy project, benefited a company whose prime financial backers include Oklahoma oil billionaire George Kaiser, a “bundler” of campaign donations. Kaiser raised at least $50,000 for the president’s 2008 election effort.