Is this an example of
Winning the Future?
What the F'k?
According to a Feb. 17 letter signed by Energy and Commerce Committee Chairman Fred Upton, Michigan Republican, and Oversight Subcommittee Chairman Cliff Stearns, Florida Republican, to Energy Secretary Steven Chu, Solyndra the Fremont, Calif.-based solar panel manufacturer squandered $535 million of stimulus money. …
According to Biden’s speech, the $535 million loan guarantee was a smaller part of the $30 billion of stimulus money the administration planned to spend as part of its Green Jobs Initiative.
Obama made similar claims in a May 26, 2010 speech at the plant, but the 1,000 jobs he and Biden touted in their respective speeches failed to materialize.
Instead, Solyndra announced on Nov. 3 it planned to postpone expanding the plant, which cost the taxpayers $390.5 million, or 73 percent of the total loan guarantee, according to the Wall Street Journal.
It also announced that it no longer planned to hire the 1,000 workers that Obama and Biden had touted in their speeches and that it planned to close one of its older factories and planned to lay-off 135 temporary or contract workers and 40 full-time employees...
.....A closer look at the company shows it has never turned a profit since it was founded in 2005, according to its Securities and Exchange Commission (SEC) filings.
A June 2010 Wall Street Journal report indicating that Solyndra’s majority owner, Oklahoma billionaire George Kaiser, was a major fundraiser for the 2008 Obama-Biden campaign has stimulus opponents such as Citizens Against Government Waste crying foul.
Answer by jewjewbee at 12:25 PM on Feb. 22, 2011
Answer by Carpy at 1:01 PM on Feb. 22, 2011
Answer by Carpy at 1:02 PM on Feb. 22, 2011
Answer by tnmomofive at 1:07 PM on Feb. 22, 2011
Answer by Carpy at 1:13 PM on Feb. 22, 2011
Answer by yourspecialkid at 1:18 PM on Feb. 22, 2011
Answer by sopranomommy at 1:19 PM on Feb. 22, 2011
Answer by yourspecialkid at 1:19 PM on Feb. 22, 2011
Answer by yourspecialkid 23 minutes ago...Oh and this is def a WTF....WASTING The Future moment.
Answer by agentwanda at 1:46 PM on Feb. 22, 2011