Posted on 06/13/2012 9:30:21 AM PDT by Nachum
On the day it closed, Solyndra said it was laying off 1,100 full-time and temporary employees.
But 1,861 workers lost their jobs as the solar panel manufacturer shut its doors, according to U.S. Labor Department documents provided to The Bay Citizen under the Freedom of Information Act.
The documents also show the Fremont-based company increased production in 2011, even though it failed to sell all the panels it made the previous year.
By the time it closed last August, Solyndra had an unsold inventory of more than 23 megawatts – enough solar panels to power about 23,000 homes.
Analysts said the revelations are likely to add new fuel to the partisan fire surrounding the demise of Solyndra, which received a $535 million federal loan guarantee from the U.S. Department of Energy in 2009.
“Information like this represents a great deal of ammunition for Romney and his allies,” said Dan Schnur, a former Republican political consultant who now runs the Jesse M. Unruh Institute of Politics at the University of Southern California.
Last month, Mitt Romney, the GOP presidential candidate, appeared outside the grounds of the shuttered factory with news cameras in tow and declared Solyndra to be a symbol of economic “failure.”
(Excerpt) Read more at baycitizen.org ...
The list, Ping
Let me know if you would like to be on or off the ping list
But at least Upper Managment got their bonus's first < /s>
The reports of Solyndra’s product being destroyed at the factory after the bankruptcy announcement has been nagging me recently. If the product couldn’t be sold at a sustainable price to keep the company alive, couldn’t the products be sold at a lower price to do what they were supposed to do and get some money to distribute among the investors? My guess is that the product didn’t work and wasn’t designed to work. The only thing produced was some cheap glass objects that looked like solar devices that could be used as props to prop up the company and keep money coming in. Almost like a pyramid scheme.
That is what I was thinking also. They had to destroy the evidence that they were producing defective panels before they could be inspected.
[ The only thing produced was some cheap glass objects that looked like solar devices that could be used as props to prop up the company and keep money coming in. Almost like a pyramid scheme. ]
Boy that story should some reporter famous.. if you could prove it.. Heck even you floated the possibility of it being true.. The NYT and NYP does THAT all the time.. and gets away with it..
“If the product couldn’t be sold at a sustainable price to keep the company alive...”
###
I’m not convinced that even legitimate solar products could survive the marketplace without government, and coerced utility company subsidies.
Uuuuuh . . . one part-time megawatt powers 1,000 homes?
23 megawatts of capacity is worth about $40,000,000 were it used for conventional power generation. That's without factoring capacity factor of around 40% tops for this.
Only the government political math makes this viable. Spend $500 million to get back $40 million.
There are plenty of rooftops in Las Vegas / SoCal that could use these.
Let’s see.... 23 megawatts for 23,000 homes. That’s 1000 Watts per home. Awfully short, I think. The average home consumes about 5,000 Watts. That’s 4,600 homes at best.
I’m not thinking defective—I’m thinking never intending to work. Those solar devices or whatever were made from cheap materials to look like a functioning device, but without whatever it was that made them work.
Maybe someone figured out early on that the numbers weren’t going to work, or it was a scam from day one. Just make something—don’t bother spending a whole lot on manufacturing. Keep bringing in the money for us on top until it all comes crashing down.
I drove by the plant Sunday. There’s a big FOR SALE sign on the building. Maybe the socialist democrats can use it for their CAMPAIGN HEADQUARTERS until somebody buys it.
True.. Zero had no intention of making anything actually WORK...
He is trying (on purpose) to make “things” NOT WORK..
Its all in “Rules for Radicals”- Saul Alinsky..
Only a RINO could give Zero the benefit of the doubt..
Because there IS NO DOUBT.. it’s obvious..
And WHY Zero is trying to financially bankrupt the U.S... (ON PURPOSE)..
And by the way literally ALL OTHER DEMOCRATS and a few Rinos..
Zero is all about throwing Monkey Wrenches into the infrastructure..
And the Chicago and New York City political Machines not to leave out Washington D.C. are maleficent enablers..
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