Posted on 03/01/2012 4:26:55 PM PST by Kaslin
Green Energy: Another stimulus-backed solar panel maker, one the president touted in a weekly radio address, lays off most of its workers. The definition of insanity is doing the same thing and expecting a different result.
President Obama is the Little Orphan Annie of presidents. He is always singing that the sun will come out tomorrow and shine on the American economy and his dreams of green energy. Yet companies such as Solyndra have proved the rule rather than the exception, producing more pink slips than green jobs as solar power and alternative energy continue to be eclipsed by advances in fossil fuel production.
The latest casualty is Abound Solar Manufacturing. The Longmont, Colo.-based recipient of a $400 million federal loan guarantee to expand solar panel production said Tuesday it is laying off 280 workers and delaying a new factory in Indiana. That amounts to a 70% reduction in its workforce.
The company says it's merely restructuring. "We are facing tough market conditions and falling prices," said Steve Abely, Abound's chief financial officer, in remarks eerily reminiscent of Solyndra's last will and financial testament.
Lost in the tap-dancing verbiage is the simple fact that solar power is not financially competitive without subsidies like Abound and Solyndra have received.
This is a far cry from the bright future painted by the president in his weekly radio address of July 3, 2010. Touting his push for a clean energy economy, Obama said Abound would "manufacture advanced solar panels at two new plants, creating more than 2,000 construction jobs and 1,500 permanent jobs" at plants in Indiana and Colorado.
(Excerpt) Read more at news.investors.com ...
Barack 'Jackwagon' Obama only hears the voice of those committed to his Marxist vision.
No Plan, No Leadership! -- We much resist! I say we much!
Countdown until Jackwagon leaves Office: 325 days as of March 1, 2012.
I'd personally be happy with a mere tap dance at this point. How come I feel like we're financing a hundred different lap dances that only a select few really lucky fellows are getting woodies over!
Title should read: “Obama’s Failures Continue To Abound”
Everything he touches fails.
They fail,bacause the technology is just not there yet. In the meantime we should be taking advantage of the energy sources we do have,
But for some reason idiot boy cannot see the forest for the trees.
The only thing they misjudged in this scheme is how quickly these businesses would collapse. No doubt uncontrolled greed hastened their failure.
But, of course, the books have been cooked, the emails erased, so no criminal charges will be brought, especially from the Holder Racially Biased Injustice Dept.
So true. And total media whitewashing.
Compare Enron vs Solyndra or MF Global.
Energy scam ping
Again, notice the silence out of the US Congress.
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