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4 Bumps

And now we have the rest of the story.

How far out of touch is Obama? Oh wait, he relies on an uneducated population.

Despite millions in government grants and subsidies, the Manitowoc company President Barack Obama called a glimpse of the future lost $4.2 million last year and cannot promise shareholders it will be profitable in the foreseeable future.

Even Orion Energy Systems admits there are a lot of risks and uncertainties in the green energy industry.

“Many technologies do not become commercially profitable products, applications or services despite extensive development and commercialization efforts,”the company stated in its most recent 10-K SEC filing on June 14, 2010.

The last five years have been a rollercoaster for Orion. It lost a total of $3.9 million in 2005 and 2006, made $4.3 million in the next three years, and then finally lost $4.2 million in the 2010 fiscal year.

Answer Question

Asked by Carpy at 10:14 AM on Feb. 1, 2011 in Politics & Current Events

Level 39 (114,053 Credits)
Answers (8)
  • And how does this make his supporters uneducated?

    Considering any business is taking a risk, i'm confused as to how you made that jump. Besides, I don't think Obama himself (or any other president) makes the sole decision as to where government funding is headed.

    BTW, I am a republican and not an Obama supporter, but I don't believe in bashing the other side just because I can.

    Answer by layh41407 at 10:21 AM on Feb. 1, 2011

  • Ouch. Those numbers have got to hurt.

    Answer by QuinnMae at 10:27 AM on Feb. 1, 2011

  • And how does this make his supporters uneducated?

    y President Barack Obama called a glimpse of the future lost $4.2 million last year and cannot promise shareholders

    He left that part out when he called it a glimpse of the future. Unless he was implying failure as the future. Most followers will never hear the rest of the story and will never pay attention if they do.

    Comment by Carpy (original poster) at 10:37 AM on Feb. 1, 2011

  • Unfortunately, the financial industry can be a fickle one and we in the US tend to be greedy. Orion is a glimpse of the future because of their green practices and goal on protecting the environment. What is right isn't always profitable.

    Look how the government is offering tax breaks for people to install items like solar panels to help produce energy. Solar energy companies are not profitable either, but it doesn't mean their supporters are uneducated.

    Answer by layh41407 at 10:58 AM on Feb. 1, 2011

  • While other energy companies have ROI's that are doing very well, the green ones aren't. It's the law of supply and demand, and Orion chose to follow the green path and the liberal agenda that was going on at the time. Had orion followed some shale oil exploration companies, or natural gas suppliers, they would be profitable right now.

    Answer by jewjewbee at 11:07 AM on Feb. 1, 2011

  • wow just wow..

    Answer by mrssundin at 11:31 AM on Feb. 1, 2011

  • Big surprise, huh?

    The elusive alternative, is still elusive! Our country and other companies, BP and GE for instance, say they have invested millions, probably even billions into affordable alternative energy sources but they never materialize, wonder why that is? Maybe... probably, because the elite are making WAY too much money off of oil, to seriously get serious about alternatives…jmo

    Answer by agentwanda at 12:02 PM on Feb. 1, 2011

  • Many companies make losses . Remember the govt. baol-outs of the banks and the auto industry ?

    Answer by janet116 at 8:12 PM on Feb. 1, 2011

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