Skip to comments.Solyndra: The Green Bay Of Pigs?
Posted on 09/17/2011 9:33:46 PM PDT by Nachum
It seems that Uncle Sams Mickey Mouse loan deal to the now-bankrupt solar manufacturer Solyndra was not only a bad investment decision, but likely a contributing factor to the companys implosion. The new factory built with Department of Energy funds foisted fixed costs on a company already struggling through an industry shake-out, [investors] say. Whats more, the debt paradoxically made raising more money difficult. Once the government demanded priority in the event of failure, private investors were less likely to prop up the company. One Solyndra investor said that, in retrospect,''the worst thing that happened to Solyndra was the loan.''
(Excerpt) Read more at blogs.the-american-interest.com ...
I have to wonder what the real story is. I've read some reports indicating that 'the government' (inexplicably?) subordinated its loans to those of private investors.
What a crock. It wasn't a "loan."
It was Five.Hundred.Million.Dollars.
It was A.Half.Billion.Dollars.
What POSSIBLE legitimate company could receive that much money and STILL need more investors?
It was dead in the water from the beginning. It couldn't succeed, no matter how much money was thrown at it (and squirreled away by who knows who).
It was SUPPOSED to fail to cover up the theft of the loan money. And it did EXACTLY as it was supposed to do. Mission Accomplished, Payoffs Made.
As I mentioned on another Solyndra thread, it was intended from the get-go to be like the production of Springtime for Hitler. It was supposed to flop, so they could claim failure, pocket their loot, and move to Rio.
probably the best overall expose of the Solyndra fiasco I’ve read so far.
While I can't be certain that it's the situation, I think it was more a case of "the government" (i.e. the current administration) wanting to protect its campaign contributors.
No, Bay of Pigs involved a lot of deaths.
They must be thinking of Fast and Furious.
If the deal in question was a pure restructure without further investment (new money) then that’d be true.
Yup. Exactly what we are NOT hearing. Where (and to whom) did the money go to.
The lack of investigation by the newsies is screamingly silent...
Solydra is the stink on a pile of government corruption..
Highway and Agriculture funds are ripe for exposure..
Education, Energy and Welfare is the same..
Federal government funds are pilfered in a hundred ways.. maybe a thousand..
Probably true in many States as well.. and Locally in some places..
The federal government is what keeps the Unions strong and RICH... and seditious..
ALL States need to be right to work States..
The Billionaire that owned Solyndra needs to go to prison.. quickly as possible..
Send George Soros a clue of what going to(should) happen to him..
Trump seems to be after some of the FREE money these guys get..
He isn’t stupid.. He’s been “watching”..this going on.. for DECADES..
The white flag will be Steve Chu’s firing.
This Frucker personally directed the fast tracking of all these fraudulent “loans”.
When I saw the title, I thought it was going to be a football metaphor, but now i get it. It’s not the Green Bay (Packers) of pigs, but the green Bay of Pigs (Cuba).
What the hell... is going on here!
The mindset of the management was if we make it, people will buy it, said the former executive.
When gas was cheap the Greenies were saying the only reason people didnt buy tiny fuel efficient cars was that the (evil) manufacturers wouldnt make them. When I pointed out there were plenty of fuel efficient $15,000 cars available, I never got a response. It was as if they didnt hear me. Now, I understand that GM is retooling the Volt factory to make 100,000 cars a year. They sell less than 200 Volts per month. This is more of the if-we-build-it-they-will-buy-it mentality.
The problem with these people is they vote and they dont live in the real world.
I had trouble with the title. I parsed it as [Green Bay] of Pigs. In others, an outstanding franchise in the league of pigs. I think he meant us to read it as Green [Bay of Pigs], the Bay of Pigs being a foreign policy and military fiasco. Who even remembers the Bay of Pigs anymore?
I do... even when I am sober!
No wonder you are lonesome in Taxachussets... he who forgets history is forced to relive it over and over again!
That’s what was reported on FNC morning, that after some kind of deal that got a piddly 75 mil in new loans, the gov’t went to the back of the line of the people to be repaid, with the folks putting in the 75 mil zooming to the head of the line.
History doesn’t repeat itself, historians repeat one another. I remember the Bay of Pigs very well. I doubt my daughter, or almost anyone in her generation has heard of it. How many in my generation remember the good ship Ruben James?
I guess when Barry was pursuing his studies he missed a basic principle in Econ 101...don’t manufacture for $10 what retails for $5.
Meanwhile, the article hit a few other high notes one of which is why did they build a manufacturing plant in a very high cost area for land and payroll. The answer is the “investors” were not in it for the money at least not at the outset. They were in it to show this solar panal could be viable. Fine, maybe the application worked in the lab BUT when it went into large scale production in a high cost area, it was doomed from the start. Barry et al were convinced they could overcome a problem by throwing money at it, just like with every other problem they face. It never works that way, never has never will.
Don’t miss this then:http://www.freerepublic.com/focus/f-news/2780069/posts
What an intteresting but appropriate caption;
“Solyndra; The Green Bay Of Pigs”
The referal to JFK’s term in office is most insightful. The interesting question. Would John Fitzgerald Kennedy had he not been asassinated been re-elected ? I (BTW I Voted since Eisenhower and around since Hoover)) for one would not have voted for him the second time. Two reasons; the assassination of South Viet Nam’s President Diem, and the Bay Of Pigs.
Had either of these two episodes been handled differently by a novice legislator going into the most important and complex executive office in the US, would we have had two foreign policy disasters lasting into this new century ? Namely Cuba, and South Viet Nam .
Some day our historical recall of that era may raise that issue.. Right now JFK’s short reign is getting histriionic and most ofter hysterical reviews.
He is one reason why I allways prefered a person with executive/ legislative experience at the nation’s helm.
thanks, that was great, very quotable:
"As it turns out, the $38.6 billion loan program for clean energy firms that Solyndra benefited from has created just 3,545 permanent new jobs after parceling out half its dough. That works out to around $5 million a job."
why people keep looking to the government to solve our problems is beyond me.