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Obama Donor: Stimulus Was Like a Hooker in Prison
Townhall.com ^ | July 23, 2012 | John Ransom

Posted on 07/23/2012 5:24:52 AM PDT by Kaslin

Another green company backed by an Obama bundler just bit the dust.

After announcing earlier this year that the company would lay off 200 of its 300 employees, solar manufacturer Amonix Inc. closed its operation in North Las Vegas leaving taxpayers in the red by $20 million.

Editor's note: We've updated this piece with research from the RNC below, entitiled:  "The Big Payback: Where It All Began," which details the massive payoffs directed to Obama supporters using taxpayer dollars in the guise of "stimulus." 

“Just seven months after California-based solar power company Amonix Inc. opened its largest manufacturing plant, in North Las Vegas,” reports the Las Vegas Sun, a liberal paper, last January, “the company’s contractor has laid off nearly two-thirds of its workforce. Flextronics Industrial, the Singapore solar panel manufacturer that partnered with Amonix to staff the new $18 million, 214,000-square-foot plant, laid off about 200 of its 300-plus employees Tuesday.”

Now only 14 months after opening the facility, and seven months after massive layoffs, it has closed due to manufacturing over-capacity in the solar industry, along with quality control issues.

"I don't think they had a lot of training," said Rene Kenerly, a former material and supply manager at Amonix, according to the Las Vegas Review Journal. "There were a lot of quality issues. A lot of stuff was coming back because it had some functionality issues."

Sounds like a picture perfect Obama program: Very expensive with "functionality issues."     

The man behind the company, Steve Westly, has received over $500 million in taxpayer-funded grants, loans and cash for a variety of companies- mostly in the in the green space after raising $86,000 for Obama as a bundler in 2008, according to the campaign cash website opensecrets.org.

So far this election cycle, Westly has donated $101,000 to various Democrat candidates and groups according to data compiled by opensecrets, including $60,000 to DNC Service Corp, also known by the less creepy name of the Democrat National Committee.

Earlier this week, I detailed plans by another Obama bundler, Steven Gluckstern, to help municipalities seize mortgage loans under eminent domain laws- that is, abuse eminent domain laws- in order to generate fees for his company, Mortgage Resolution Partners.

Westly’s list of interests backed by the Obama administration is much, much longer than the Gluckstern scheme however.

From the Center for Public Integrity:

“We believe that with the Obama administration, and other governments … committing hundreds of billions of dollars to clean tech, there has never been a better time to launch clean tech companies,” says his company website. “The Westly Group is uniquely positioned to take advantage of this surge of interest and growth.”

Uniquely positioned, indeed.

One of President Barack Obama’s most prolific fundraisers, Westly was among guests at January’s state dinner for the president of China. A month later, he dined with Obama again at an exclusive San Francisco Bay area gathering for prominent high tech CEOs, including the leaders of Facebook, Google and Apple.

In addition to the $20 million in loans and tax credits for the failed Amonix plant, Westly also is involved in other companies that have benefited from Obama-directed taxpayer help: Tesla Motors, CalStar Products, Solexel, Recycle Bank, EdenIQ and Amyris Biotechnologies.

Now I understand why the Democrats are so worried about Mitt’s tax returns: Mitt’s showing income not losses.

Obama's taxpayer rate of returns shows losses not income.

Occupy that.

Here’s my proposal: If it’s constitutional to tax people who don’t have healthcare, isn’t it constitutional to levy a tax on investors who benefit from federal green energy boondoggles?

If you are going to go after millionaires and billionaires, here’s a set of folks who are just crying for it.

Because if you want to know what happened to the all the stimulus jobs that were supposed to be created, now you know: They were sacrificed to stimulate the bundlers.

That’s all.

From RNC Research:

obama-crist

The Big Payback: Where It All Began

Obama Relives His High Profile Stimulus Rally, A Bill Defined By Cronies Given Payoffs And Middle Class Layoffs

Today, President Obama Will Appear At The Harborside Event Center In Fort Myers. FL. "President Barack Obama will talk about the economy when he returns to a downtown Fort Myers civic center Friday, more than three years after he first visited. Campaign officials said Tuesday night that Obama will hold a public rally Friday morning at Harborside Event Center in downtown Fort Myers." (Jenna Buzzacco-Foerster, "Tickets Available Wednesday For Obama Visit To Fort Myers On Friday," Naples Daily News, 7/17/12)

Obama Appeared At The Harborside Event Center In February 2009 To "Rally Support For His $800 Billion-Plus Stimulus Package." "That's the same place the president held a town hall meeting in 2009 to rally support for his $800 billion-plus stimulus package." (Jenna Buzzacco-Foerster, "Tickets Available Wednesday For Obama Visit To Fort Myers On Friday," Naples Daily News, 7/17/12)

IN FORT MYERS IN 2009, OBAMA TOUTED GREEN STIMULUS JOBS

Obama Said Stimulus Would Create New Jobs In Renewable Energy, "Jobs Building Wind Turbines And Solar Panels And Fuel-Efficient Cars." OBAMA: "And they won't be make-work jobs. They'll be jobs that lay the groundwork for a lasting economic boom, jobs that put people to work today preparing America for tomorrow: Jobs building wind turbines and solar panels and fuel-efficient cars -- (cheers, applause) -- doubling our investment in clean energy, helping end our dependence on foreign oil. (Cheers, applause.)." (President Barack Obama, Remarks At A Town Hall Event, Fort Myers, FL, 2/10/09)

A Month Later At A Green Energy Venture Capital Conference, Obama Donor Paul Holland Made An Off Color Joke When Asked " How Can We All Make Some Money Off" The Stimulus

"In A Video Appearance From 2009, Venture Capitalist Paul Holland - Who Had Given The Maximum Legal Contribution To Obama, And Whose Companies Received Over 6 Million In Government Dollars - Described His Feelings When Heard About The Billions Up For Grabs." (Michael Hastings, "Obama Official Was Like 'A Hooker Dropped Into A Prison Exercise Yard,'" BuzzFeed, 7/17/12)

Question: "One of the things, and Paul I'm going to start with you because you just go off a plane from Washington, D.C. and there are a lot of entrepreneurs out there and you guys in particular who are specifically looking at the stimulus package or packages I should say. And wondering if there is an opportunity there, for your companies, for new companies what is the latest from DC, what were you doing there, and how can we all make some money off of that?"

Foundation Capital's Paul Holland: "Yeah, that's big question. So I guess I would just peel it back to a couple of weeks before I was at the Wall Street Journal's Economics Conference and Matt Rogers who probably a number of you know came in and was doing a talk and this is going to be a little off collar so I don't want to get in trouble for this. He came in to do his talk and opened his talk with, 'I'm Matt Rogers I am the Special Assistant to the Secretary of Energy and I have $134 billion that I have to disperse between now and the end of December.' So upon hearing that I sent an email to my partners that said Matt Rogers is about to get treated like a hooker dropped into a prison exercise yard . And I had the lack of judgment to go up and share that with him and the other people who were all standing around him at the end of the talk and uh fortunately for me they all laughed and thought it was funny."

(Paul Holland, Remarks, Venture Capital Panel, Green:Net 09, 3/24/09)

OBAMA USED THE STIMULUS TO SHOWER BILLIONS IN TAXPAYER FUNDS FOR GREEN ENERGY COMPANIES TIED TO HIS POLITICAL SUPPORTERS

Obama Bundlers Worked In His Department Of Energy "As It Showered Billions In Taxpayer-Backed Stimulus Money On Alternative Energy Firms." "Several of Barack Obama's top campaign supporters went from soliciting political contributions to working from within the Energy Department as it showered billions in taxpayer-backed stimulus money on alternative energy firms, iWatch News and ABC News have learned." (Ronnie Green and Matthew Mosk, "Bundlers On The Inside," iWatch 9/29/11)

  • "The Administration Tapped Industry Players To Take On Key Energy Department Roles, Both As Agency Staffers And Outside Advisers On Agency Boards." (Carol D. Leonnig and Joe Stephens, "Venture Capitalists Play Key Role In Obama's Energy Department," The Washington Post , 2/14/12)

The Washington Post: "You Can Call It Crony Capitalism Or Venture Socialism - But By Whatever Name, The Energy Department's Loan Guarantee Program Privatizes Profits And Socializes Losses." (Editorial, "The Energy Department's Loan Guarantee Program Is The Real Solyndra Scandal," The Washington Post, 11/17/11)

Steve Westly Brought In Big Bucks For Obama And Got A Tremendous Return On His Investment

As An Obama Bundler, Steve Westly Has Raised Over $1 Million For Obama During The 2008 And 2012 Election Cycles. (Center For Responsive Politics, Accessed 7/13/12)

  • In 2008, Westly Served As The California Co-Chair Of Obama For President And As A National Finance Committee Member. "In the 2008 election cycle Mr. Westly served as a California co-chair and a National Finance Committee member of the Obama for America campaign." ( The Westly Group Website, Accessed 7/13/11)

Steve Westly On Investing: "Who Cares About What I Think, Let's Talk About What Does Obama Like?" WESTLY: "People ask me about this all the time and I'm so flattered. But what I'd say is 'who cares about what I think let's talk about what does Obama like?' Here's what he likes because here's where the federal government is putting money and let me tell you whatever he likes, that's what I like." (Steve Westly On Clean Teach On GTM TV, 2/10/10)

  • Westly: "The Key Is In Clean Tech Investing Is Venture Capitalists Are Going To Have To Know The Ins And Outs Of Government And That Will Make Us Better Investors." (Steve Westly, Remarks, Venture Capital Panel, Green:Net 09, 3/24/09)
  • The Westly Group's Website Boasted That They Are "Uniquely Positioned To Take Advantage" Of The Billions In Subsidies That Obama Offers To Green Energy Firms. "'We believe that with the Obama administration, and other governments … committing hundreds of billions of dollars to clean tech, there has never been a better time to launch clean tech companies,' says his company website. 'The Westly Group is uniquely positioned to take advantage of this surge of interest and growth.'" (Ronnie Greene and Matthew Mosk, "Green Bundler With The Golden Touch," Center For Public Integrity & ABC News, 3/30/11)

Westly's Venture Capital Firm Has "Received More Than Half A Billion Dollars In Loans, Grants Or Stimulus Money From The Obama Energy Department …" "All the while, Westly's four-year-old green business has boomed. Since June 2009, four companies in his venture firm's portfolio have received more than half a billion dollars in loans, grants or stimulus money from the Obama Energy Department, a review by the Center for Public Integrity and ABC News has found." (Ronnie Greene and Matthew Mosk, "Green Bundler With The Golden Touch," Center For Public Integrity & ABC News, 3/30/11)

  • "Relatively Few Companies Succeed In Winning Such Benefits. More Than 90 Percent Of Applicants Have Failed To Secure Funding In Two Programs Benefiting Three Westly-Backed Firms." (Ronnie Greene and Matthew Mosk, "Green Bundler With The Golden Touch," Center For Public Integrity & ABC News, 3/30/11)

Biden's Former Chief Of Staff Got A One-Month Lobbying Contract To Get A Green Energy Client Their Loan Guarantee

BrightSource Hired Bernard Toon, Vice President Biden's Former Chief Of Staff, To Lobby For Its Loan Guarantee As Their Deadline Neared. "BrightSource spent more than $500,000 on lobbying in the third quarter of 2010 through the second quarter of 2011, according to federal records, on behalf of the loan program and its own loan. The records show that $40,000 of the BrightSource lobbying money went to Bernie Toon, who was chief of staff to Mr. Biden, then a U.S. senator, in the 1990s." (Alicia Mundy and Ryan Tracy, "Solar Firm's Big Push For U.S. Loan," The Wall Street Journal, 6/5/12)

Just Days After Being Hired, Toon Went To The White House With Three BrightSource Executives And Met With Alan Hoffman, A Top Aide To VP Biden. "On March 9, 2011, just days after being hired, Mr. Toon went to the White House with three BrightSource executives, according to Senate and White House records. There he visited a former colleague, Alan Hoffman, now the top aide to Mr. Biden, whose office was working on green-energy programs, the records show. The White House didn't make Mr. Hoffman available for comment." (Alicia Mundy and Ryan Tracy, "Solar Firm's Big Push For U.S. Loan," The Wall Street Journal, 6/5/12)

  • "The Loan Was Approved April 5 And Mr. Toon's Lobbying Contract Ended."(Alicia Mundy and Ryan Tracy, "Solar Firm's Big Push For U.S. Loan," The Wall Street Journal, 6/5/12)
  • On April 6, 2011, Toon's Lobbying Report Notes That He Terminated His Contract With BrightSource Energy. (Lobbying Report: The Ingram Group DBA The First Group, House Of Representatives, Effective 4/6/11)

Brightsource Is "Sustained By An Impressive Array Of Federal, State And Local Subsidies, Including A $1.6 Billion Loan Guarantee From The Department Of Energy." "Fortunately for BrightSource, its efforts are sustained by an impressive array of federal, state and local subsidies, including a $1.6 billion loan guarantee from the Department of Energy, one of the largest solar guarantees on record. The company notes federal provisions providing solar projects with a 30% investment tax credit through 2016, as well as accelerated depreciations of capital costs for solar entities, among other goodies." (Editorial, "Secretary Of Subsidy," The Wall Street Journal, 6/2/11)

The Wall Street Journal : BrightSource Energy's IPO States The Company Has "A String Of Net Losses, Totaling $177 Million" And Most Of Its Revenue Comes From A Contract With Chevron To Recover "Not-So-Renewable Heavy Oil." "Mr. Bryson, who had a long tenure running California energy company Edison International, has more recently served as chairman of BrightSource Energy, a startup specializing in solar-thermal power. Founded in 2004, the company has attracted more than $500 million in private funding and has become a renewables darling, with agreements to supply electricity to California utilities PG&E and Southern California Edison. That's the good news. But the company's SEC filing in April for a $250 million IPO tells a more, er, interesting story. The company has posted a string of net losses, totaling $177 million. Much of its $32 million in revenue over the past three years has come not from power generation, but from a contract with Chevron to use its technology to recover . . . not-so-renewable heavy oil." (Editorial, "Secretary Of Subsidy," The Wall Street Journal, 6/2/11)

After First Wind Hired Larry Rasky's Lobbying Firm, The Close Personal Friend Of Biden Helped The Company Secured Over $500 Million In Loans And Grants

Obama Fundraiser Alan Solomont Said Of Rasky "Larry Rasky Is In A Unique Position, He's Very Close To (Vice President-Elect) Joe Biden. Certainly Larry Is Someone Whose Voice Will Be Heard." "Jockeying across New England is intense because local Democrats haven't been up for the well-paid federal posts since 1992. Early Obama support from the state's top politicians - Gov. Deval Patrick and Sens. Edward M. Kennedy and John F. Kerry - means Massachusetts will have more clout than usual, Solomont said. Other behind-the-scenes elves in the federal jobs sweepstakes include politically wired PR gurus such as Larry Rasky and Tom O'Neill, son of U.S. House Speaker Thomas P. 'Tip' O'Neill Jr., observers say. 'Larry Rasky is in a unique position, he's very close to (Vice President-elect) Joe Biden. Certainly Larry is someone whose voice will be heard,' Solomont said." (Hillary Chabot, "Crowning Achievement; Mass Dems Have Influence Over Obama's Picks," The Boston Herald, 12/26/08)

Larry Rasky Is An Obama Bundler, Having Pledged To Raise Over $500,000 During The 2012 Election Cycle. (OpenSecrets.org, Accessed 7/18/12)

  • Rasky Is A "Close Associate And Former Spokesman" For Vice President Joe Biden. "Sen. Joe Biden has received $5,300 from politically wired Hub lobbyist Joseph Baerlein, whose firm, Rasky/Baerlein, is co-owned by Biden's close associate and former spokesman Larry Rasky. The lobbying/public relations firm, which is registered federally and in Massachusetts, organized fund-raisers in Boston for Biden during the Democratic presidential primary." (Dave Wedge, Dems In Denver; Lobbyist$ Paid Off For Sen. Joe Biden," The Boston Herald, 8/28/08)

First Wind Hired Larry Rasky's Firm To Lobby On Its Behalf; Rasky Baerlain Strategic Communications Registers On January 5, 2009. (Data.gov, Accessed 7/18/12)

  • First Wind Paid Rasky Baerlain $405,000 Between The First Quarter Of 2009 And The Third Quarter Of 2011. (Data.gov, Accessed 7/18/12)
  • Julia Bovey, First Wind's Director Of External Affairs, Was Formerly Director Of External Affairs For Obama's Federal Energy Regulatory Commission From June 2009 To June 2010. (Julia Bovey, LinkedIn, Accessed 7/18/12)

Since Obama Took Office, Lawrence "Larry" Rasky Has Visited The White House At Least 21 Times. Three Times On September 23, 2009; December 14, 2009; December 15, 2009; February 23, 2010; March 29, 2010; May 5, 2010; July 12, 2010; August 17, 2010; February 2, 2011; February 16, 2011; April 27, 2011; June 17, 2011; Twice On July 20, 2011; July 28, 2011; November 4, 2011; January 10, 2012; February 16, 2012. (Data.gov, Accessed 7/18/12)

On July 27, 2010, First Wind's Kahuku Wind Farm In Hawaii Received A $117,330,968 Loan Guarantee From Through The 1705 Program. (Recovery.gov, Accessed 7/18/12)

  • Since Obama Took Office, First Wind's Projects Have Received Over $452 Million In Grants Through The Stimulus' 1603 Program. The Grants Went To First Wind's Stetson Wind Farm In Maine, 40,441,471; Cohocton Wind Farm In New York, $52,352,334; Dutch Hill Wind Farm In New York, $22,296,494; Milford Wind Corridor Phase I In Utah; $120,147,809; Milford Wind Corridor Phase II In Utah, $80,436,803; Rollins Wind Farm In Maine; $53,246,347; Sheffield Wind Farm In Vermont, $35,914,864; Kahuku Wind Farm In Hawaii, $35,148,839; Steel Winds II Wind Farm In New York, $12,778,751. ( Department Of The Treasury, Accessed 7/18/12)

D.E. Shaw Was Also An Investor In The Kahuku Wind Farm. "Rep. Jim Jordan (R-Ohio) asked Chu whether his decisions had been influenced by several specific people tied to the administration, including former National Economic Council Chairman Larry Summers, who before joining the White House worked as a part-time managing director at D.E. Shaw, a New York-based investment firm that has an ownership stake in the Kahuku Wind project." (Darren Samuelsohn, "Steven Chu On Solyndra: enough Already," Politico, 3/20/12)

In Late 2011, Former Obama National Economic Council Chairman Larry Summers Rejoined Hedge Fund D.E. Shaw As A Consultant. "It hasn't been widely reported, but late last year Summers rejoined the firm, this time as a consultant. According to a person familiar with Shaw, he is spending about five to ten per cent of his time working for the firm, largely in an advisory capacity. Asked what sort of things Summers does, this person said he addresses standard macroeconomic questions-such as the likelihood of a revaluation in the Chinese currency-and also advises the firm on how to limit risk." (John Cassidy, "Summers And The World Bank: Is Obama Serious?" The New Yorker, 3/22/12)

  • In 2008, Before Joining The Obama White House, Summers Was Paid Over $5 Million From Hedge Fund D.E. Shaw. "Larry Summers made a lot of money last year, and boy is it voyeuristically impossible to resist looking through his disclosure to see who paid him what. The really big money, unsurprisingly, came from DE Shaw: a salary of $1,432,497 (weird amount, that), along with partnership distributions of $3,756,126, for a total of $5,188,623. But just because he was earning $100,000 a week from DE Shaw doesn't mean he wasn't earning lots of money elsewhere, too: his speaking engagements alone came to another $2.8 million or so." (Felix Salmon, "Larry Summers's Millions," Reuters, 4/4/09)


TOPICS: Business/Economy; Crime/Corruption; Politics/Elections
KEYWORDS: bhoenergy; boondoggle; donors; fundingtheleft; greenenergy; greenjobs; scam; taxandspend

1 posted on 07/23/2012 5:25:01 AM PDT by Kaslin
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To: Kaslin

I can’t say what I’m thinking. I’d get banned for foul language.


2 posted on 07/23/2012 5:31:46 AM PDT by afraidfortherepublic (ABO)
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To: Kaslin

Why don’t they just cut the charades, print more money and give it to themselves? Oh wait ... They do!


3 posted on 07/23/2012 5:36:33 AM PDT by dubyajam ("Life is Hard ... It's Even Harder When you're Stupid" --- John Wayne)
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To: Kaslin

Ayn Rand would be proud. Crony capitalists “invested” $1B in electing Obama in 2008, and they brought in $4T of our tax dollars in return on that investment. Only a liberal would consider that making money or earning a profit. Liberals claim to despise both concepts, yet they are the ones who engage in crony capitalism.


4 posted on 07/23/2012 5:49:24 AM PDT by Pollster1 (Freedom is never more than one generation away from extinction. - Ronald Reagan)
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To: Kaslin

“BLAH BLAH BLAH.
You are a racissssssssssttttt for bringing up anything that would take away from American’s
FIRST BLACK PRESIDENT!!!!!”

that is the response that will come IF Mitt ever grows a pair and mentions ANY of this during the campaign.


5 posted on 07/23/2012 6:14:01 AM PDT by a real Sheila (Hypocrisy, thy name is Leftist.)
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To: Kaslin
Now I understand why the Democrats are so worried about Mitt’s tax returns: Mitt’s showing income not losses.

Obama's taxpayer rate of returns shows losses not income.

Occupy that. Too bad only us on the right read articles at Townhall. This is the meme that we need to pound into the mainstream talking points.

6 posted on 07/23/2012 6:22:28 AM PDT by SC Swamp Fox (Aim small, miss small.)
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To: Kaslin

Amonix is another company declaring bankruptcy after not being able to make it in the solar energy market. This is another company that was heavily subsidized by the federal government with 6 million dollars in tax credits and a 15 million dolllar grant from the US Department of Energy. The company has only been open for 14 months.

This is one of a long line of clean energy companies that have recently failed or faced difficulty

* Solar Trust of America - Opened in 2009 and went bankrupt in April of 2012. Solar Trust received a 2.1 billion dollar loan guarantee from the Dept of Energy but fortunately turned it down.

* Bright Source - Opened in 2008 and is still in business thanks to a last minute 1.6 billion dollar loan in March of 2011 that staved off financial failure. Interestingly enough, the loan is now part of an ethics probe. Apparently, Bright Source hired Vice President Joe Biden’s former chief of staff to lobby the administration for the loan.

* Solyndra - Founded in 2005 and bankrupt in August of 2011. Solyndra was considered for a US Dept of Energy Loan by the Bush Administration, but it was eventually unanimously declined. In March 2009, the US Dept of Energy approved a 527 million loan even though a budget analys stated that “This deal is not ready for prime time.” Solyndra received a 25 million dollar tax break from California. To help sales, in 2010, the IRS chipped in and gave an additional 30% tax credit for customers who installed 10,000 dollars worth of Solyndra panels.

* Azure Dynamics - In another case of good fortune, the DOE did not give a grant or loan to Azure Dynamics before it declared bankruptcy in the spring of 2012. The state of Michigan did give a 1.7 million dollar tax credit in 2009. Azure did receive a four year 112 million dollar contract from the Government Service Agency which allowed the military and government agencies to order the Transit Connect EV.

Related to this, Johnson Controls received a 299 millon dollar grant from the American Recovery and Reinvestment Act and 168.5 millions dollars in incentives from the state of Michigan to build a plant in Holland, MI. This plant was supposed to work in conjunction with Azure Dynamics to build electric vehicles. The bankruptcy unfortunately has caused a slow down in production at the plant and caused Johnson Controls to lose money that it invested in Azure Dynamics.

* Beacon Power - Beacon was founded in 1997 and went bankrupt in October of 2011. In 2009, Beacon received a 43 million dollar loan guarantee from the DOE. Beacon also received an additional 29 million dollars in grants from Pennsylvania and the US. As a side note, in Feb of 2012, Rockland Capital, a private equity group, bought most of the companies’ assets. As another aside, partner Joseph Lambeth of Rockland gave 20,000 to the DNC and Barack Obama in 2011.

* Abound Solar - Abound Solar received a 400 million dollar loan from the DOE in 2010. In declared bankruptcy in June of 2012. Forutnately for tax payers, it is reported that only 40 to 60 million dollars of the loan will be lost after the sale of assets. In 2010, President Obama praised the company in one of his speeches: “The second company is Abound Solar Manufacturing, which will manufacture advanced solar panels at two new plants, creating more than 2,000 construction jobs and 1,500 permanent jobs.” Pat Stryker, one of the wealthiest 400 people in America, was a major backer of the plant and a bundler for President Obama.

* Evergreen Solar - Founded in 1994, it went bankrupt in August of 2011. Evergreen received 58 million dollars in financial aid from the state of Massachusetts. After the bankruptcy, Evergreen was sued by the DOE in order to prevent it from selling patents to firms not based in the US. It is argued that these patents were developed between 2002 and 2005 using a 3 million dollar federal grant.

* Ener1 - Ener1 received a 118.5 million dollar grant from the DOE in 2010. The company declared bankruptcy in March of 2012. In January of 2011, Vice President Biden visited Ener1 in order to proclaim how successful it was.

* Uni-Solar - Uni-Solar received a 13.275 million dollar federal tax credit in January of 2010. Then, in June of 2012, Uni-Solar declared bankruptcy. In May of 2006, The Greenville City Council approved 45 millions dollars worth of incentives for Uni-Solar. These included tax breaks, grants, and employee training.

* Energy Conversion Devices - Another Michigan company declared bankruptcy in February of 2012. This company was a subsidiary of Uni-Solar. In the Spring of 2009, it received a 13.3 million dollar tax credit from the stimulus program and it was predicted that the company would create 600 new jobs. In order to save money, in August of 2010, it shipped 140 jobs from its Michigan factory to Mexico.

* A123 Systems - In August of 2009, A123 received 249 million dollar grant from the DOE. Part of the grant was used to refurbish plants in Livonia and Romulus MI. In November of 2011, 125 workers were laid off from these plants after A123 produced faulty batteries for another DOE grant recipient Fisker Automotive. The faulty batteries were quite the embarrassment since they prevented Consumer Reports from testing a Fisker automobile. In the modern vernacular, this is an epic fail. As of now, there is a 55 million dollar recall effort out by A123 to reclaim and repair faulty batteries. The DOE grant was supposed to be completely used by the end of 2012, but much of it is left. The DOE has extended the period to the end of 2014. In 2011, A123 lost 257 million dollars in 2011, 152.6 million in 2010, and 85 million in 2009. At the start of 2010, A123’s stock price was over 20 per share. Now it is under 90 cents. It is currently being sued by a NY based law firm over inadequacies in disclosure related to the defective batteries.

Between 2008 up until now, executives from the company donated more than 22000 dollars to Barack Obama, the Democratic Senatorial Campaign Committee, Senator John Kerry, and Representative Ed Markey while sending 1000 dollars to Scott Brown.

* Ecotality - In August of 2009, Ecotality received a 99.8 million dollar grant from the DOE. In June of 2010, it received another 15 million dollar grant from the DOE. Since June of 2010, Ecotatlity has been investigated by the SEC for stock issues and sued the state of California for working with NRG in building a competing network of charging stations. Ecotatlity turned it first ever profit in the first quarter of 2012, making 1.2 million dollars. The stock was valued at 34.80 in August of 2007. In July of 2012, it is valued at .47 per share.

* SunPower - The already financially troubled SunPower (over 800 million in debt) received a 1.2 billion dollar loan guarantee from the DOE in the spring of 2011. Shortly thereafter, it sold a 60% stake of itself to French Energy company Total, who then gave the company a 1 billion dollar credit line. The 1.2 billion dollar loan was to be used to create a solar power ranch. This was actually sold to NRG. The ranch is projected to create 15 full time jobs. Representative George Miller has stated that SunPower is a success after touring one of its plants. Mr Miller’s son works for the lobbying firm employed by SunPower. Interestingly enough, after the Solyendra scandal broke, someone at the DOE went back and scrubbed the website of references to SunPower.

The Obama Administration has stated over and over that each of these companies received funding based on merit. In the book “Throw Them All Out”, the author Peter Schweizer shows that 71% of the DOE grants and loans went to bundlers for Obama’s Presidential campaign, members of Obama’s National Finance Committee, or large donors to the Democratic Party. The 71% raised 457,834 dollars for Obama and the Democratic Party. The 71% received 11.35 billion dollars in DOE handouts.


7 posted on 07/23/2012 6:32:13 AM PDT by CriticalJ (Suppose you were an idiot. And suppose you were a member of Congress.. But then I repeat myself. MT)
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To: dubyajam

GREEN SCAM: 80% Of Green Energy Loans Went To Obama Donors - 19 Companies Went Bust

For those who only hear about these failing companies one by one, the following is a list of all the clean energy companies supported by President Obama’s stimulus that are now failing or have filed for bankruptcy. The media hopes you’ve forgotten about all of them except Solyndra, but we haven’t.

Evergreen Solar SpectraWatt Solyndra (received $535 million) Beacon Power (received $43 million) AES’ subsidiary Eastern Energy Nevada Geothermal (received $98.5 million) SunPower (received $1.5 billion) First Solar (received $1.46 billion) Babcock & Brown (an Australian company which received $178 million) Ener1 (subsidiary EnerDel received $118.5 million) Amonix (received 5.9 million) The National Renewable Energy Lab Fisker Automotive Abound Solar (received $400 million) Chevy Volt (taxpayers basically own GM) Solar Trust of America A123 Systems (received $279 million) Willard & Kelsey Solar Group (received $6 million) Johnson Controls (received $299 million) Schneider Electric (received $86 million)

That’s 19 (that we know of so far).

http://www.thegatewaypundit.com/2012/06/green-scam-80-of-green-energy-loans-went-to-obama-donors-19-companies-went-bust-video/


8 posted on 07/23/2012 6:38:04 AM PDT by TurboZamboni (Looting the future to bribe the present)
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To: Kaslin
I did not see it mentioned that Steve Westley was once State Controller of California and then a candidate for governor.
9 posted on 07/23/2012 7:06:35 AM PDT by Carry_Okie (The Slave Party Switcheroo: Economic crisis! Zero's eligibility Trumped!! Hillary 2012!!!)
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To: Kaslin

Related...

http://www.exposingtheleft.blogspot.com/2012/07/amonix-another-obama-subsidized-solar.html


10 posted on 07/23/2012 7:09:19 AM PDT by traderrob6
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To: Kaslin

Crony capitalism is too nice a phrase for this stuff.


11 posted on 07/23/2012 7:12:54 AM PDT by MulberryDraw (That which cannot be paid, won't be paid.)
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To: CriticalJ; TurboZamboni
One of you said:
Solar Trust received a 2.1 billion dollar loan guarantee from the Dept of Energy but fortunately turned it down.

The other said:
Solar Trust of America A123 Systems (received $279 million)

Look, I enjoy reading this kind of damning information about Obama. But when I see stuff like above, it makes me wonder if you are just making it up like the Dems. We need to set ourselves above the fray by always telling the truth, or not telling it at all.

You two have any comments? It puts both of your full posts in question.

12 posted on 07/23/2012 7:27:31 AM PDT by Scooter100 ("Now that the fog has lifted, I still can't find my pipe". --- S. Holmes)
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To: Kaslin

Mark Steyn made an excellent observation.

For the price of the 2009 stimulus, we could have built 1,567 Golden Gate Bridges.

Where are they? Where are, say, the first dozen?

I know where the money went, into the pockets of public unions and subsequently back into the democRat campaign coffers.


13 posted on 07/23/2012 7:31:35 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter knows whom he's working for)
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To: afraidfortherepublic

Better your language than mine!
Language aside, two phrases came to immediate mind; RICO and money laundering.


14 posted on 07/23/2012 7:49:08 AM PDT by Huaynero
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To: Kaslin

When will some GOP office holder somewhere call this what it is....money laundering? Obama gives taxpayer dollars to cronies in “green businesses” with connections to his administration. The “business” is a shell operation that goes bust, but the money has made its way into Obama campaign coffers. Some of the CEOs have even emerged as “bundlers” of campaign cash, which probably had its origins in stimulus money.

It’s the Chicago way of doing politics. Someone really needs to go to prison in 2013.


15 posted on 07/23/2012 8:00:31 AM PDT by txrefugee
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To: Scooter100

” It puts both of your full posts in question.”

You should question everything and verify. Don’t take some post you find on the internet as fact.

I’ll help you out this time:

http://ir.a123systems.com/releasedetail.cfm?ReleaseID=403090

http://washingtonexaminer.com/article/1209621


16 posted on 07/23/2012 8:10:19 AM PDT by CriticalJ (Suppose you were an idiot. And suppose you were a member of Congress.. But then I repeat myself. MT)
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To: Kaslin

I have not read the comments all the way down and expect that someone has already offered similar to what follows.

IF, and it is a big if, anyone ever investigates this mess I would be they will find huge sums of the stimulus money has made its way back to an account(s) for some dark person. This administration will make Teapot Dome look like a teabag. Someone has suggested that obastard is only in this for the money... wouldn’t surprise me a bit.

When this bastard leaves, if he ever does, he will be the richest most powerful SOB in the world and it will be all gotten under the table.


17 posted on 07/23/2012 8:14:20 AM PDT by Sequoyah101 (Half the people are below average, they voted for oblabla.)
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To: CriticalJ

I think Scooter is a obastard troll. There are a lot of them out spreading the spin, grasping at straws and otherwise picking nits.

Bottom line, HUNDREDS OF BILLIONS OF DOLLARS have disappeared to somewhere invisible.


18 posted on 07/23/2012 8:21:25 AM PDT by Sequoyah101 (Half the people are below average, they voted for oblabla.)
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To: Kaslin
After announcing earlier this year that the company would lay off 200 of its 300 employees, solar manufacturer Amonix Inc. closed its operation in North Las Vegas leaving taxpayers in the red by $20 million.

But that's ok... the big Obama donors at the top of the "company" got their cut, and Obama got his cut, so it all goood.

19 posted on 07/23/2012 8:27:00 AM PDT by Albion Wilde ("Real men are not threatened by strong women." -- Sarah Palin)
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To: CriticalJ

Ok, granted, you copied them from somewhere else. Still doesn’t answer my question. One says they didn’t receive any money, and the other says they got $279m. Maybe they are not the same companies.


20 posted on 07/23/2012 8:32:43 AM PDT by Scooter100 ("Now that the fog has lifted, I still can't find my pipe". --- S. Holmes)
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To: Kaslin
If I could have one wish come true before my time on earth is over, it would be for Obama - wait - ALL politicians - including Obama - to be investigated by an honest and impartial investigative team for their crimes of funneling taxpayer cash into their coffers via stimulus, loans through the DOE, etc. If there's one thing we can do for the next generation, it's to set the example that this will not be tolerated. Without these wrongs being righted, we cannot move forward.
21 posted on 07/23/2012 8:43:45 AM PDT by liberalh8ter (If Barack has a memory like a steel trap, why can't he remember what the Constitution says?)
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To: Kaslin
OBAMA USED THE STIMULUS TO SHOWER BILLIONS IN TAXPAYER FUNDS FOR GREEN ENERGY COMPANIES TIED TO HIS POLITICAL SUPPORTERS

If this information was shoved in the face of the MSM they would ignore it...

22 posted on 07/23/2012 9:02:04 AM PDT by GOPJ (Political correctness is simply George Orwell's Newspeak by a non-threatening name. FR- Bernard Marx)
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To: Scooter100

4/4/12

Reuters’s original story Monday did not make it clear Solar Trust never got the money. It put out an updated story on Wednesday specifying that fact.

Solar Trust’s project in Blythe, Calif.— which would have been one of the largest solar farms in the world — received a conditional commitment for a $2.1 billion loan guarantee from DOE in April 2011.

The deal, almost four times as large as Solyndra’s, got star treatment from administration officials. Energy Secretary Steven Chu lauded it in a White House blog post, and Interior Secretary Ken Salazar attended the project’s groundbreaking ceremony in June. (It’s located on federally controlled land).

http://www.politico.com/news/stories/0412/74848.html#ixzz21SNkINb7


23 posted on 07/23/2012 9:26:40 AM PDT by kcvl
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To: Kaslin

“Like a hooker in prison” - Sooo... in trouble, probably diseased, and liable to start a riot the first day?


24 posted on 07/23/2012 9:27:45 AM PDT by arderkrag (ABOs are Romneybot trolls. LOOKING FOR ROLEPLAYERS. Check Profile.)
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To: Scooter100

“Ok, granted, you copied them from somewhere else. Still doesn’t answer my question. One says they didn’t receive any money, and the other says they got $279m. Maybe they are not the same companies.”

It seems like you are trying to make me responsible for what another poster writes (which looked like a cut and paste error to me).

I gave you two links were you can check the numbers. If you are not happy with that, so be it.


25 posted on 07/23/2012 9:33:45 AM PDT by CriticalJ (Suppose you were an idiot. And suppose you were a member of Congress.. But then I repeat myself. MT)
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To: CriticalJ

excellent compilation of obama’s crony capitalism.


26 posted on 07/23/2012 9:58:48 AM PDT by zeugma (Those of us who work for a living are outnumbered by those who vote for a living.)
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To: Scooter100

so many “green” scandals, it’s hard to keep track of:

“A $2 billion solar mistake — from the media”

http://www.politico.com/news/stories/0412/74848.html

(The Associated Press and Reuters got it wrong as well)

I must be part of the “right-wing noise machine” the Huffpo complains about.


27 posted on 07/23/2012 11:01:58 AM PDT by TurboZamboni (Looting the future to bribe the present)
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To: Kaslin

A huge load of good information.


28 posted on 07/23/2012 12:28:16 PM PDT by Excellence (9/11 was an act of faith.)
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To: Kaslin

Harry Reid, at the opening, with a shovel in his hand:
http://www.lvrj.com/business/amonix-closes-north-las-vegas-solar-plant-after-14-months-heavy-federal-subsidies-162901626.html


29 posted on 07/23/2012 5:00:32 PM PDT by bronxville
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