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Solar-panel company on verge of end
The Toledo Blade ^ | 6/30/2013 | KRIS TURNER

Posted on 06/30/2013 10:10:42 AM PDT by Deadeye Division

Jim Appold talks about Willard & Kelsey Solar Group as if the company is bustling with activity.

The phrase “we are” consistently rolls off the 74-year-old company president’s tongue. When it was formed in 2007, Willard & Kelsey’s founders wanted to revolutionize the solar-panel industry. They projected profits of almost $70 million for the first year of production.

Last week, that vision seemed like a far-fetched dream: No one tended to the machinery that hissed, beeped, and hummed from all corners of the company’s more than 200,000 square-foot building in Perrysburg.

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


TOPICS: Business/Economy; Culture/Society; News/Current Events; US: Ohio
KEYWORDS:

1 posted on 06/30/2013 10:10:42 AM PDT by Deadeye Division
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To: Deadeye Division

And Obama is counting on companies like this to grow the American economy.


2 posted on 06/30/2013 10:14:20 AM PDT by AU72
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To: Deadeye Division

It’s much easier to run a company in such a way as to have a 90% ROI than a 100.1% ROI. If subsidies mean that companies in a field only need a real ROI of 90% to yield a profit for the owners, many people will be able to enter the field and turn a profit for themselves without having to produce anything of value.


3 posted on 06/30/2013 10:17:31 AM PDT by supercat (Renounce Covetousness.)
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To: Deadeye Division

After Solyndra, all of these entirely predictable failures seem like just so many flesh wounds, don’t they?

And this is the way, isn’t it? Start with the most outrageous fraud you can and once the impact of that has blown over, all the slightly lesser frauds you can come up with afterwards seem like Khloe Kardashian’s third helping of carrot cake at the dessert bar.

MFGlobal > PFG. If anyone thinks Corzine will spend 30 seconds in prison for stealing $1.6 billion they are flaming delusional. His pardon ticket is already printed and carefully held in a safe under the control of either Val Jarrett or 0bama himself. And why would such a ticket be revealed today, when it can used for the next 2.5 years to extract whatever might be extracted from it? In classic Marc Rich style Corzine will be pardoned, if he’s found guilty at all, shortly before Jan 19, 2016. It’s simply a matter of drawing out the legal proceedings leading to a trial, if any, to that point.


4 posted on 06/30/2013 10:22:51 AM PDT by Attention Surplus Disorder (Both parties are trying to elect a new PEOPLE.)
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To: Deadeye Division

Entrepeneurs once devised business plans to a provide a product or service at an affordable price to meet a real market demand.

Obama cronies devise business plans to extract the largest possible government subsidies with promises to supply unaffordable, unmarketable products that Obama wants.


5 posted on 06/30/2013 10:26:10 AM PDT by Iron Munro (Rubio's New Book: From Nobody To Senator, To Conservative savior, Then Back To Nobody")
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To: Deadeye Division
    Bad business plan
  1. Cadmium telluride technology
  2. Cadmium is highly toxic and an environmental hazard
  3. Toxic waste does not equal "green"
  4. Cd-Te solar cells are not as efficient as desired.

6 posted on 06/30/2013 10:26:26 AM PDT by reg45 (Barack 0bama: Implementing class warfare by having no class.)
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To: AU72

“And Obama is counting on companies like this to grow the American economy.”

No he isn’t, his goal is to cripple America while giving our tax dollars to other leftists both here and overseas.

The left’s goal is ZERO growth and it’s many benefits, lower birth rates for one, more people willing to let the government have more power to steal even more money form those who work.


7 posted on 06/30/2013 10:32:15 AM PDT by stockpirate (GOP = Good Ol' Progressives)
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To: Deadeye Division
In related news, here's their salvation (assuming they're democrats):

Obama to unveil broad African electrical power initiative ($7 Billion)

8 posted on 06/30/2013 10:36:04 AM PDT by null and void (Republicans create the tools of oppression, and the democrats gleefully use them!)
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To: Deadeye Division

And this is why government bureaucrats and politicians who do not understand business, should stop trying to pick winners and losers. When the government tries to pick winners and losers the biggest loser is the taxpayer.


9 posted on 06/30/2013 10:40:24 AM PDT by Entrepreneur (We're past the tipping point - the only variable is the rate of decline)
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To: Deadeye Division

Obama found a new way to launder the money. Take it with him on trips.


10 posted on 06/30/2013 10:54:14 AM PDT by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: AU72

No, companies like these are fronts for money laundering operations, where OUR TAX DOLLARS go to building Potemkin Village factories, DNC contributions are made, the fat cats pocket “their share”, and the companies then go bankrupt, blame it on the Republicans and the Tea Party.

What’s left of the Gambino and Bonnanos families are probably kicking themselves for not thinking of such a racket. All under the governments protection, that’s the ticket!

Seriously, this has RICO written all over it.


11 posted on 06/30/2013 10:55:43 AM PDT by Fred Hayek (The Democratic Party is now the operational arm of the CPUSA)
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To: stockpirate

Bingo!
Obumbler not only gives less than a $%@& about the U.S economy; he is, in fact, consciously and with malicious forethought, wrecking the economy, the culture, the Nation.


12 posted on 06/30/2013 11:10:21 AM PDT by Tucker39
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To: Entrepreneur

Politicians will never stop picking winners and losers. Because every time they shovel government largesse to some entity or another, a substantial chunk of that largesse magically finds its way into the under-the-counter coffers of that politician; else, why would they do it?/JMO

That also might explain a politician’s arrival in office as a shallow-pocketed slug, and after a term or two in office they leave as millionaires.


13 posted on 06/30/2013 11:19:21 AM PDT by Tucker39
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To: Deadeye Division
"Besides the firm’s five owners, the company has about five employees...In its second year of operation, executives began paying themselves millions. They also freely used funds for things such as sporting events, a birthday party, and ATMs in casinos."

Better than those isolationist, peasant scum who'd be "buggy whip" manufacturers, thinking that they could compete with the elite, eh? Our economy is booming, because the born government-linked bosses don't allow such activities to destroy their environment and animal deities.


14 posted on 06/30/2013 11:27:33 AM PDT by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
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To: Deadeye Division

Reads a little like the story of 20th Century Motors, minus the rank and file compensation part.


15 posted on 06/30/2013 11:37:28 AM PDT by NonValueAdded (Unindicted Co-conspirators: The Mainstream Media)
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To: Deadeye Division
"The production line never has been capable of spitting out the 120 solar panels an hour" needed to sustain monstrous cash flow to a few lazy, gambling crooks.


16 posted on 06/30/2013 11:37:32 AM PDT by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
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To: NonValueAdded
"...minus the rank and file compensation part."

Yes. The "five employees" of Willard & Kelsey Solar Group are most likely company officers ("executives"), while the "owners" are the members of the board. Quite a little gang.


17 posted on 06/30/2013 11:41:43 AM PDT by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
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To: Deadeye Division
the power bill alone cost him $17,000 a month

Maybe they should go solar.

18 posted on 06/30/2013 12:00:36 PM PDT by informavoracious (We're being "punished" with Stanley Ann's baby. Obamacare: shovel-ready healthcare.)
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To: AU72

no he wasn’t. it was never the plan. it was to waste money on stuff that was never intended to work, to waste money and produce nothing, so thst tht money woudn’t go to productive things andactually make us more energy independent and prosperous. it was payback to supporters and also a kickback mechanism at the same time.

waste money on stuff that will never have a result. keeps money away from actual solutions and beneficial ideas. rewards cronies. cronies reward dems. company goes bankrupt, everything goes away down the memory hole.


19 posted on 06/30/2013 12:16:18 PM PDT by Secret Agent Man (Gone Galt; Not averse to Going Bronson.)
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To: Deadeye Division

but but .. Obama is proposing all kinds of money to keep them going.. if they donate to his ‘cause’.

What’s a few laws between this country’s future and despotism worth these days?

very little , it seems.


20 posted on 06/30/2013 12:36:30 PM PDT by NormsRevenge (Semper Fi --)
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No, per Obama, many laws are irrelevant, in fact.


21 posted on 06/30/2013 12:37:46 PM PDT by NormsRevenge (Semper Fi --)
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To: Deadeye Division
Willard & Kelsey is on the hook to repay more than $12 million in state loans, which it defaulted on last fall, and owes millions more to suppliers. It also faces a slew of lawsuits.

Whether the state can recoup the public money it spent funding this private venture is unclear. Willard & Kelsey doesn’t own its $6.4 million building and has leased half its equipment.

In other words: No Assets! They don't own the building or most of the equipment. Taxpayers took it in the backside again because some feel good moronic state employees felt inclined to save the world with a solar company that was not on solid financial ground - ever! The state actually gave them an additional $5 million in 2010 after they had already ceased production of any panels. Over $60 million and it created in the area of 50 jobs for a couple of years.

22 posted on 06/30/2013 1:05:27 PM PDT by RobertClark (My shrink just killed himself - he blamed me in his note!)
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To: informavoracious

....good one...


23 posted on 07/01/2013 1:45:54 AM PDT by Does so (Progressives Don't Know the Meaning of INFRINGED...)
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