Skip to comments.Bankrupt solar company with fed backing has cozy ties to Obama admin
Posted on 09/01/2011 11:09:08 AM PDT by Nachum
A solar energy company that intends to file bankruptcy received $535 million in backing from the federal government and has a cozy history with Democrats and the Obama administration, campaign finance records show.
Shareholders and executives of Solyndra, a green energy company producing solar panels, fundraised for and donated to the Obama administration to the tune of hundreds of thousands of dollars.
Tulsa billionaire George Kaiser, a key Obama backer who raised between $50,000 and $100,000 for the presidents election campaign, is one of Solyndras primary investors. Kaiser himself donated $53,500 to Obamas 2008 election campaign, split between the DSCC and Obama For America. Kaiser also made several visits to the White House and appeared at some White House events next to Obama officials.
Campaign finance records show Kaiser and Solyndra executives and board members donated $87,050 total to Obamas election campaign.
(Excerpt) Read more at dailycaller.com ...
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Democrat Corruption and “the Chicago Way” pay very well if you are one of the connected fascist more-equalz-pigz
Kaiser and Solyndra executives and board members donated $87,050 total to Obamas election campaign. And he raised between $50,000 and $100,000. For that he received $535,000,000 from the federal government. Wow. Who said opportunity is dead in America.
Which raises the question ‘what is the REAL status of the $535 million?’
“Kaiser and Solyndra executives and board members donated $87,050 total to Obamas election campaign. And he raised between $50,000 and $100,000. For that he received $535,000,000 from the federal government. Wow. Who said opportunity is dead in America.”
I bet they personally got a GREAT ROI.
Donate $53,500, receive $535,000,000?
Does that mean if I donate $5.35 I can get back $ 53,500.00?
Dont know, but the taxpayers can kiss it bye bye.
Thanks for this post as I have been wondering about the political contributions of “Green” corprations and their stockholders, directors and officers. I suspect a lot more has been contributed “under the table.”
Pi$$ed away, I reckon.
Thanks for the ping.
The “Climate Change” scam was always in the plan to help bankrupt this country and to pay off the communist and democrat government workers of the world.
This reminds me of the Mel Brooks movie/play “The Producers”.
Get a bunch of people to “invest” in your play. Make sure the play is a bomb. Keep all the money when the play shuts down after the first night.
Sure would like to know what salaries the company executives scammed from our taxpayer money who driving the bus over the Cliff.
By this definition if I jumped off an eight story building I would "succeed" in flying. That is until altitude conditions changed dramatically.
It's an old scam in Silicon Valley. Driving by the enormous Solyndra buildings regularly it was noteworthy that, unlike the expensive heardquarters buildings along HW 880, the Solyndra parking lots appeared never to have more than a skeleton staff's number of cars. In the glory days venture money paid startup executives royally, until the company closed the doors. The investors were generally ignorant about what did or didn't happen inside. But investors are often very smart, and politcally savvy.
Kleiner Perkins, which invested in Al Gore's abiity to sell global warning so they could get rich on the carbon credit scam, are clearly politically savvy. The supposed Solyndra investors were major Obama supporters. The enormous campus in Silicon Valley was for show - photo ops. It was obvious, to someone who has looked for commercial real estate for expanding companies, a scam from the outset. It was “optics.” No genuine venture fund, looking at the profitability of the solar electric industry, would invest. Startups begin in low-rent industrial parks. Solyndra began with space age buildings with enormous signage and what appeared as hundreds of thousands of square fee for manufacturing. Hardly anyone manufactures in Silicon Valley, and those for very high margin and usually sophisticated assemblies. Iphones and IPads are manufactured in China. Solar panels are not as sophisticated at LCD display panels, and those are all manufactured in Asia.
Progressives control the banks and the justice department. Solar energy, along with wind energy, is an old scam dependent upon the ignorance of the public, ignorance guaranteed by the complicity of state-run media and state-run educational system.
Some investors may think that if the left, Obama’s cadre, can only cut off all other sources of energy, these technologies will become profitable. If we prevent drilling everywhere, prevent pipelines from Canada, prevent Alaska from tapping new sources so that the Alieska pipeline is irreparably damaged by the low flow, then solar and wind generators will become profitable. That is either naive, or sabotage - probably some of each. Remember, Holdren and his minions have never veered from his openly stated belief that the world has four or five billion too many people. These are would-be revolutionaries. Everything they say, or fund, should be scrutinized.
Even the vaunted Wall Street Journal is feeding from the trough slop provided by the political left, with subtle propaganda in most every issue, paid for with our taxes, participating in the shrill campaign against nuclear power enabled by the earthquake and tsunami at Fukushima. The Japanese government must, in order to stay at the trough, not argue with the nonsense being propagated. All the while the perfect safety record for commercial nuclear power continues - no carbon emissions, no injury from radiation for commercial nuclear power, with four core meltdowns in sixty years(Chernoble was not a commercial nuclear plant, but still killed far fewer people than its coal replacement).
It is reminiscent of the war by the left on DDT, which saved more lives before Rachel Carson's acolytes forced us, based upon false rumors and manufactured data, to doom twenty to forty million youngsters in Africa to horrible death from malaria. Of course our pretty co-eds and their partners didn't know they were condemning millions of African children to death, but that is the power of political propaganda. The “renewable energy” campaign is purely an attack on capitalism.
The solar business is just such a scam, except that the government is providing the venture money - our money - and the principals are kicking back political donations. We have another one in The Valley which tickles elites, Tesla. Of course, who can say that the few remaining private sector workers won't stand in line to buy a $100,000 electric sports car which may drive 100 miles and even carry a passenger? Tesla has a beautiful and empty showroom in tony Menlo Park, and the cars themselves look like Ferraris. Obama should buy a few Teslas to keep at Martha's Vineyard for his drives to the golf course. Of course his handlers know that the 'optics' might be a bit too obvious. Besides, to provide the power to charge the Tesla would require covering a significant portion of Martha's Vineyard with heliostats (solar collectors) or the less efficient solar panels. Perhaps Marth's Vineyard would tolerate, unlike Holdren's and the Kennedy's Cape Code neighborhood, being surrounded by ocean-based wind turbines?
We saw the wind turbine scam fifteen years ago. The enormous field of dead windmills is a monument to graft and tax breaks for the wealthy on the Altamont pass. Farmworkers over the mountains paid for those subsidies while the wealthy used the turbines as tax write-offs.
Every advertisement (just count the tax subsidized marketing on radio and television) is siphoning our productivity to insure that the media only survives with government funding, and, naturally, reports what it's masters dictate. Because the left produces nothing, they are parasites who will milk our productivity until there is nothing left.
These little dictators are bright, like John Holdren, just not bright enough to compete with honest scientists and engineers. Being a Utopian dictator can be very profitable. A scientist of no accomplishment has become quite wealthy, much more financially successful than most physicists, by never doing an experiment, but producing political polemics - a community activist to inhibit the productivity of capitalist engineers. The numbers are not obvious, particularly since our media are controlled, and most reports are provided by outright propagandists. The place to begin is with the relatively minuscule energy density of solar energy (flux density). There are a few high value applications which will ever make economic sense for a low density energy source. Swimming pool heating is one application which does makes sense, but if someone can afford a swimming pool, he can save money by heating it with solar energy, and should invest because it makes economic sense. Solar electric should never be subsidized, and is likely being used by our current rulers to destroy capitalism - Cloward Piven at work!.
The unions, whose leadership is dominated at the top by self-described Marxists, will consume the source of jobs for their workers, who are more useful idiots.
Good post. There are lots of scams masquarading as startups around the Valley and elsewhere. Often they cross subsidize and I suspect a lot of the 500+ million went to other such “startups” including some savvy VC’s. A fair chunk of the VC industry is slimy leftists with political connections. It is not true of the whole industry and all industries have their share. But alt energy will create a perfect storm of wheeler dealers who would sell their mother, leftist politicians intent on destroying the economy, topped off with gullible morons like McCain. It won’t be easy to stop but our future as a free and prosperous country depends on it.
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