Skip to comments.Solar firm with Kaiser ties shuts down
Posted on 09/02/2011 7:53:42 AM PDT by Oldeconomybuyer
Solyndra LLC, a Fremont, Calif.-based solar panel maker, was partially funded by Tulsan George Kaiser. It had long been an administration favorite. Over the past two years, President Barack Obama and Energy Secretary Steven Chu each had made congratulatory visits to the company's headquarters.
House Republicans and government auditors had questioned the wisdom of the administration's loan guarantees to the company, backed in part by capital from a group controlled by Kaiser, a billionaire Tulsa oilman, banker and Democratic fundraiser.
The largest investor, according to a report by CNN Money, was the George Kaiser Family Foundation.
The Treasury Department provided Solyndra's loan, on the assurance of the Energy Department. The terms were reviewed in advance by the White House Office of Management and Budget, and almost all of the $535 million has been disbursed to Solyndra.
(Excerpt) Read more at tulsaworld.com ...
the albatross strikes again
It won’t lead anywhere good.
Democrats - Thieves. Thugs, Thralls and Thickheads
but!but!! Can’t we just keep talking about the Koch brothers?
Your tag line needs a few more names as well. LOL
The Kaiser Family Foundation has been the 800-lb. gorilla in Tulsa politics for a long time so there are plenty of people around here laughing up their sleeves about the emperor having no clothes. OOTH, the Kaisers have also been generous to lots of community causes so this loss means funds may not be available when those needs arise.
Don’t think there’s a connection.
Thanks, just wondering.
Amazing headline writer. The headline should be ‘Solar firm with Obama ties shuts down’.
“Solar shenanigans will never see sunlight.”
Somebody should go to jail.........
That somebody is too busy partying, playing golf, and setting himself up as czar in chief for life of a soon-to-be third world banana republic.
Even if they didn’t sell one stinking panel you would think that 500 million would keep the company aflot for more than one measly year......
Of course the money was probably funneled away through various “means” and the company was allowed to collapse because they never intended to actually use the money to “save the world”.
This is a scam Bernie Madoff would blush at.
Bush’s fault! Cheney and Karl Rove too!!
I saw a presentation from a Solyndra exec at an energy conference a couple years ago. Their innovation was (gasp!) cylindrical-shaped solar panels, which he claimed would be more efficient than conventional flat panels. In the Q&A afterward, I challenged him on this, and got no straight answer in response. It was clear then that these solar panels would be MUCH more expensive than conventional units, and less effective - but a cost-no-object DOE bureaucrat’s dream. These developments should be a surprise to no one.
“”Even if they didnt sell one stinking panel you would think that 500 million would keep the company aflot for more than one measly year......””
I read also today that the Kaiser Foundation had given the company $1 billion so they actually had $1,535,000,000.00 to run their business for that one year. I’ve read so much about this one subject today that I’m having trouble remembering where I read that - must be here on FR with a link..
Sure sounds like a great way to launder money to me. Obozo should be ticked off that his campaign only got $53,500 in donations from the company or Kaiser.