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Crony Socialism: Obama Gives $737 Million to Solar Firm Linked to the Pelosi Clan
Gateway Pundit ^ | 9/28/11 | Jim Hoft

Posted on 09/28/2011 11:45:49 AM PDT by Nachum

It’s as if Solyndra never happened. The Obama Administration is giving $737 million to a Tonopah Solar, a subsidiary of California-based SolarReserve. PCG is an investment partner with SolarReserve. Nancy Pelosi’s brother-in-law happens to be the number two man at PCG.

Team Obama is spending $737 million to create 45 permanent jobs. The Hill reported, via Free Republic:

The Energy Department announced Wednesday that is has finalized a $737 million loan guarantee for a Nevada solar project.

The decision comes several weeks after a California-based solar manufacturer that received a $535 million loan guarantee from the Obama administration in 2009 filed for bankruptcy and laid off 1,100 workers, setting off a firestorm in Washington.

The $737 million loan guarantee will help finance construction of the Crescent Dunes Solar Energy Project, a 110-megawatt solar-power-generating facility in Nye County, Nev. The project is sponsored by Tonopah Solar, a subsidiary of California-based SolarReserve.

(Excerpt) Read more at thegatewaypundit.com ...


TOPICS: News/Current Events
KEYWORDS: crony; cronyism; cronysocialism; envirogate; greencorruption; greengate; obama; pelosi; socialism; solar; solarreserve; tonopahsolar

1 posted on 09/28/2011 11:45:59 AM PDT by Nachum
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


2 posted on 09/28/2011 11:46:33 AM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: SF_Redux

Ping

Hat tip for the link.


3 posted on 09/28/2011 11:51:51 AM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: Nachum

Have to raid the treasury now because they might not be able to after 2012. Democrats - Thieves, Thugs, Thralls and Thickheads


4 posted on 09/28/2011 11:51:51 AM PDT by blueunicorn6 ("A crack shot and a good dancer")
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To: Nachum

It’s only a “loan guarantee”, nothing to see here, move along.


5 posted on 09/28/2011 11:52:21 AM PDT by bitterohiogunclinger (Proudly casting a heavy carbon footprint as I clean my guns ---)
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To: Nachum

Can these numbers be right ?.... this is over one million dollars per job with 600 of them temporary construction jobs. Unbelievable !


6 posted on 09/28/2011 11:53:53 AM PDT by layman (Card Carrying Infidel)
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To: Nachum; Jim Robinson; kristinn

FR mentioned.

A hat tip for the research would have been nice. :)


7 posted on 09/28/2011 11:56:19 AM PDT by maggief
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To: Nachum

I hope someone digs deeper. If they have the guts to. This is the tip of the iceberg, with Pelosi sitting on top.


8 posted on 09/28/2011 11:56:48 AM PDT by b4its2late ("Pray for Obama. Psalm 109:8")
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To: Nachum

So, now we know how much it takes to sign the DNC nomination certification.


9 posted on 09/28/2011 11:57:40 AM PDT by bgill (There, happy now?)
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To: maggief

http://www.freerepublic.com/focus/f-news/2784962/posts


10 posted on 09/28/2011 11:57:55 AM PDT by maggief
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To: Nachum

Convene the 2011 “new Watergate” hearings immediately. It’d be a 2fer if we could ride Obama and Pelosi out on the same rail. Do we have a Reid connection yet?


11 posted on 09/28/2011 12:00:39 PM PDT by afraidfortherepublic
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To: Nachum

Convene the 2011 “new Watergate” hearings immediately. It’d be a 2fer if we could ride Obama and Pelosi out on the same rail. Do we have a Reid connection yet?


12 posted on 09/28/2011 12:00:43 PM PDT by afraidfortherepublic
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To: Nachum

Can Congress stop this?


13 posted on 09/28/2011 12:02:46 PM PDT by Psalm 73 ("Gentlemen, you can't fight in here - this is the War Room".)
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To: afraidfortherepublic

Solyndra’s $733M Plant Had Robots, Spa Showers

. It had robots that whistled Disney tunes, spa-like showers with liquid-crystal displays of the water temperature, and glass-walled conference rooms.
“The new building is like the Taj Mahal,” John Pierce, 54, a San Jose resident who worked as a facilities manager at Solyndra, said ...
http://www.bloomberg.com/news/2011-09-28/solyndra-s-733-million-plant-had-whistling-robots-spa-showers.html

The only way to make it more of a boondoggle would be to put the solar arrays on a high speed train run by the postal service.


14 posted on 09/28/2011 12:03:39 PM PDT by WOBBLY BOB (See ya later, debt inflator ! Gone in 4 (2012))
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To: Nachum
Pelosi and Reid in this $737 million deal? How nice!

And now let us read the words of Pete Stark, the US Representative of Congressional District 13, where Solyndra was located:

Obama to visit Solyndra on green jobs tour (Silicon Valley)

Rep. Pete Stark (D-CA) welcomed the president's visit to the solar panel manufacturing plant.

"President Obama recognizes that the East Bay is a major center for green manufacturing jobs in the country," said Rep. Stark. "I welcome the President to the East Bay to see firsthand how Recovery Act investments have created green jobs. Our skilled workers and innovative companies, like Solyndra and now Tesla Motors, will keep the region's green economy growing."

The solar startup received a $535 million loan guarantee from the federal stimulus plan and has also raised $970 million in venture capital.

Solyndra hopes to raise $300 million in an IPO announced in December.

15 posted on 09/28/2011 12:03:57 PM PDT by Eagle of Liberty (Shaking My Head on a daily basis)
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To: maggief

http://www.scrippsnews.com/node/38688?page=11

... The recent death of cultural doyenne Belinda Barbara Newsom provided a peek into that tightly knit world. She was the aunt of San Francisco Mayor Gavin Newsom, but also the former wife of Ronald Pelosi, a former city supervisor and brother-in-law of U.S. House Speaker Nancy Pelosi.
To very briefly expand on those connections (only a book would do them justice):
— Belinda Newsom’s brother and Gavin Newsom’s father, William Newsom, is a retired state appellate court justice whose decades-long friendship with billionaire Gordon Getty, and special legislation carried by the current state treasurer, Bill Lockyer, led to William Newsom’s becoming manager of Getty investment trusts.
— Those trusts provided most of the initial capital for Gavin Newsom’s hotel and restaurant business, originally in partnership with Billy Getty, Gordon Getty’s son — a business whose “Plumpjack” moniker came from an opera by the elder Getty.
— William Newsom owes his judicial career to appointments from another old chum, former Gov. Jerry Brown, now the state attorney general and a likely candidate for governor again in 2010.
— William Newsom’s father, William Sr., was a confidant of and fund-raiser for Brown’s father, the late Gov. Pat Brown, one-time San Francisco district attorney. Under Pat Brown, the state invested heavily in Squaw Valley for the 1960 Winter Olympics, and after the Games, William Sr. was granted a low-cost lease on state-owned facilities, including the Olympic Village Inn. A decade later, however, the state canceled the lease and gave William Sr. state property in Stockton that he quickly sold for $1.6 million.
— Gavin Newsom and Billy Getty opened one of their first restaurants in the Getty-owned Squaw Valley Inn, which has since been renamed “Plumpjack.”
— Gordon Getty’s wife, socialite Ann Getty, was Jerry Brown’s unofficial hostess during his governorship. During this year’s presidential campaign, the Gettys hosted a fund-raiser for Barack Obama at their mansion.
— Finally, Jerry Brown and Gavin Newsom may be rivals for the 2010 Democratic gubernatorial nomination — that is, if another member of the city’s elite, U.S. Sen. Dianne Feinstein, doesn’t run. And if we had more space, we could explore the connections of Feinstein and her very wealthy husband, University of California Regent Richard Blum.


16 posted on 09/28/2011 12:05:12 PM PDT by maggief
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To: maggief

Actually, Jim Hoft has mentioned the site before. He is one of the few who do.

:)

Nachum


17 posted on 09/28/2011 12:08:13 PM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: Nachum

The MSM will try and ignore this too so send this out to everyone you know.


18 posted on 09/28/2011 12:09:06 PM PDT by dragonblustar
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To: Nachum

bflr


19 posted on 09/28/2011 12:10:02 PM PDT by Captain Beyond (The Hammer of the gods! (Just a cool line from a Led Zep song))
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To: layman
"this is over one million dollars per job"

Do you understand the difference between capital intensive and labor intensive.

If we wanted to make it labor intensive, we could spend far less capital with bicycles hooked up to generators and then hire many more workers. Estimate that at a thousand dollars per job.

The first thing the capital equipment salesman tells the buyer is how many jobs will be removed from the payroll.

20 posted on 09/28/2011 12:11:35 PM PDT by Ben Ficklin
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To: bgill
So, now we know how much it takes to sign the DNC nomination certification.

Sniff, sniff........ yep... smells like Clinton to me.

21 posted on 09/28/2011 12:12:49 PM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: maggief

http://articles.sfgate.com/2001-05-02/business/17597775_1_fund-family-forward-funds-mutual-funds

Big name behind scenes at Forward Funds / Mutual funds group doesn’t publicize owner Gordon Getty

Gordon Getty has a secret family of mutual funds.

The billionaire composer/investor is the man behind Forward Funds, a small group of mutual funds based in San Francisco. ...

http://www.pcgam.com/leadership/board/Ronald_Pelosi.html

Mr. Pelosi brings to PCG Asset Management a distinguished career in business and public service. He has an extensive background in the securities industry, mutual funds, and private equity. He is an accomplished Financial Industry Regulatory Authority (FINRA) mediator, and has served in a number of positions as a public official.

Mr. Pelosi is the President of Trenholm Associates, a consulting firm offering specialized services to companies in the financial industry. His investment firm experience includes: Senior Advisor, ReFlow Management; President, Forward Funds, diversified mutual fund group; ...

(snip)


22 posted on 09/28/2011 12:14:13 PM PDT by maggief
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To: Psalm 73
Can Congress stop this?

It depends on whether their palms are being greased too.

23 posted on 09/28/2011 12:14:55 PM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: Nachum

No shame. No concept that maybe they need to rethink (arrogance). No worry about how it will look to give money to a politically connected company. By next year he might lose to Jimmy Carter in a primary.


24 posted on 09/28/2011 12:18:58 PM PDT by wiggen (The teacher card. When the racism card just won't work.)
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To: Nachum

And where is boehner Mcconnell, Ryan, Cantor et al screaming over this?


25 posted on 09/28/2011 12:20:54 PM PDT by GlockThe Vote (The Obama Adminstration: The flash mob who wonÂ’t leave.)
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To: Nachum

“Crony Socialism”

That’s redundant.


26 posted on 09/28/2011 12:21:05 PM PDT by Tublecane
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To: afraidfortherepublic
Do we have a Reid connection yet?

Reid Announces Major Solar Project in Tonopah, Nearly 5000 Jobs - May 19,2011

Senator Harry Reid joined U.S. Energy Secretary Steven Chu Thursday to announce the Department of Energy’s conditional commitment for a loan guarantee for the Crescent Dunes Solar Energy Project in Tonopah.

“The DOE conditional loan guarantee commitment is a substantial milestone in the continuing and successful development of the Crescent Dunes Solar Energy Project,” said Kevin Smith, CEO of SolarReserve. “We appreciate the tremendous support from the DOE’s Loan Programs Office, which further validates the importance, effectiveness and deliverability of this leading U.S.-designed clean energy technology. We will continue to advance our plan to start construction this summer to bring Nevada’s electricity customers the benefits of reliable solar power generated without greenhouse gas emissions. This solar technology is a genuine alternative to baseload coal, nuclear or natural gas burning electricity generation facilities.”

27 posted on 09/28/2011 12:25:28 PM PDT by Eagle of Liberty (Shaking My Head on a daily basis)
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To: Eagle of Liberty
Found this comment on an article about the Tonapah facility:

I once found an old beer bottle that was left out there at the foot of the Crescent Dunes. It was so abraded by the blowing sand, it was hardly recognizable. Is it just me, or does this seem like a really stupid place to build thousands of delicate mirrors?

FUNNY!!!
28 posted on 09/28/2011 1:01:39 PM PDT by Eagle of Liberty (Shaking My Head on a daily basis)
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To: blueunicorn6

Yep. They’re redistributing our wealth as fast as they can. They ARE a brazen bunch of thieves, I’ll give ‘em that. Absolutely no shame.


29 posted on 09/28/2011 1:02:54 PM PDT by Basil Duke
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To: Nachum
The Secret Government Bank That's Financing More Solyndras

.

30 posted on 09/28/2011 1:15:39 PM PDT by Elle Bee
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To: Nachum

The dims are busy raiding the treasury with all of their green job money.I want investigations as soon as we retake all 3 houses and I want that Piglosi woman in handcuffs.


31 posted on 09/28/2011 1:43:55 PM PDT by chris_bdba
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To: Basil Duke

“Yep. They’re redistributing our wealth as fast as they can. They ARE a brazen bunch of thieves, I’ll give ‘em that. Absolutely no shame.”

Truly, shameful...makes you want to go Hoffa style baseball bat to the knees on somebody.


32 posted on 09/28/2011 1:47:20 PM PDT by rbmillerjr
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To: maggief

http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/enron-vet-turns-737m-solar-loan-guarantee


33 posted on 09/28/2011 3:27:32 PM PDT by mewzilla (Forget a third party. We need a second one.)
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To: Nachum

Well at least this technology is proven. I’m surprised the environuts are not screaming over the transmission line that will be required to move the power out.


34 posted on 09/28/2011 3:41:04 PM PDT by Mike Darancette (Psalm 109:8)
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To: WOBBLY BOB
“Backlog” is a term sometimes used loosely in the industry and may not represent firm orders at all, he said.

Not in this household, or in our company. My husband has been in manufacturing for most of his life, either working for others or working for our own company. He has NEVER heard the work "backlog" used that way.

35 posted on 09/28/2011 5:05:19 PM PDT by afraidfortherepublic
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