Tech company headed by former CEO of bankrupt Solyndra to receive $6.6 billion from Biden admin
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Just the News ^
| 4/9/24 | By Kevin Killough
A semiconductor company whose president was head of the now-bankrupt Solyndra solar energy company stands to receive $6.6 billion in funding from the Biden administration. Under
a preliminary agreement, according to CNBC, a subsidiary of Taiwan Semiconductor Manufacturing Co. (TSMC) in Arizona will receive the funding under the U.S. CHIPS and Science Act. The company’s president is Brian Harrison. The Washington Free Beacon reported that Harrison was CEO of Solyndra, which in the early 2000s was involved in the manufacturing of solar panels and considered at the forefront of the sustainable energy industry.
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The Biden Administration’s Electric Vehicle Subsidies Are Becoming Another Solyndra
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The Federalist ^
| 11/24/2023 | Helen Raleigh
Energy Secretary Jennifer Granholm made $1.6 million from an electric car company the Biden administration boosted that just went bankrupt. Proterra,
an electric bus and battery company that President Joe Biden touted as a success of his green energy initiative, filed for bankruptcy in August. Last week, it finally sold its embattled battery business at a rock-bottom price as part of the bankruptcy proceeding. The rise and fall of Proterra demonstrates once again that politicians should refrain from betting taxpayers’ money on business ventures to advance their political agenda. According to the Wall Street Journal, Proterra has sold only 550...
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What Happened to the Solyndra Records?
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FreeRepublic ^
| 3/16/2023 | Mr.K
When Obama was 'President' he gave a half a billion dollars to startup energy company Solyndra. They created the company, cleared a location, constructed a building, installed factory equipment, purchased inventory, hired workers, and went bankrupt- all within one year. Within
2 days of the bankruptcy announcement, the FBI swooped in and grabbed all the financial records. Instead of returning inventory to suppliers, they bulldozed it. And then it disappeared from history. No financial accounting was ever made, no Congressional hearings, no one was investigated... It all went down the memory hole.
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A Biden Labor Dept. rule change could force your retirement nest egg to be invested in Solyndra-like green and woke companies
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American Thinker ^
| 02/11/2023 | Thomas Lifson
Joe Biden is opening the door for the investment management companies that handle the retirement funds of 152 million Americans to no longer seek the best financial returns, but instead fund companies, like Solyndra, that pledge to advance the progressive agendas encapsulated in the expression ESG (Environmental, Social and Governance). The New
York Post editorially warns us: "Don't let Biden & Co. force YOUR nest egg to be invested in woke-only companies."A new Biden Labor Department rule aims to steer the retirement funds of 152 million Americans toward companies with woke policies on climate change and other "environmental, social and...
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Solyndra 2.0? Biden Megadonor Gets $500 Million Loan to Build Solar Company in India
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GP ^
| December 11, 2021 at 12:37pm | By Cristina Laila
The Washington Free Beacon reported: A solar energy company owned by a Biden megadonor received a $500 million government loan to build a manufacturing facility in India, the Biden administration announced this week, raising questions about whether the company’s political clout played any role in the financing decision. The
U.S. International Development Finance Corporation granted the loan to First Solar, which is owned by billionaire Walmart heir Lukas Walton, to build a solar module plant in India. Walton contributed over $300,000 to President Joe Biden’s campaign last year, and over $100,000 to the Democratic National Committee, according to campaign finance...
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‘Worse than Solyndra’: Republicans Press for Information on Biden Admin’s Favorite Electric Battery Company
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https://freebeacon.com ^
| • April 29, 2021 5:00 am | Matthew Foldi
Energy Secretary Jennifer Granholm has up to $5 million invested in company Biden promoted Republican senators are working to make the electric battery company President Joe Biden toured to promote his $1.9 trillion infrastructure plan this administration's Solyndra. Biden's promotion of electric battery and bus manufacturer Proterra has struck a nerve on
Capitol Hill after the Washington Free Beacon reported that Biden's energy secretary, Jennifer Granholm, still has up to $5 million invested in the company. The administration's $1.9 trillion infrastructure plan includes a $174 billion investment in electric vehicles, as well as plans to replace diesel-powered buses with electric-powered...
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Would Leftists Invest Their Own Money in a “Green New Deal?” [Remember Solyndra>]
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Big League Politics ^
| March 4, 2019 | Jonathon A. Moseley
Would you invest your own money in the “Green New Deal” as a good investment for the future? Or
will leftists only put at risk other people’s money through taxpayer funds? Confront candidates for office and office-holders with whether they would sink their own money into this project. Send their answers to Big League Politics. The “Green New Deal” has been recently popularized primarily by Congresswoman Alexandria Ocasio-Cortez (D-Venezuela) — while overshadowing many other Democrat Members of Congress standing right beside her. Even as snow fell in Los Angeles this year, and many cities experienced record — not just cold,...
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Ocasio-Cortez’s green energy plan ignores Obama’s failures (shovel-ready Solyndra)
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NY Post ^
| 2/09/19 | Sunil Sharan
A charismatic Barack Obama peddled the idea of 5 million new green jobs as he ran for the presidency in 2008. Actually,
the number was Hillary Clinton’s idea, but when she lost, Obama appropriated it. I wrote an article in 2010 in the Washington Post busting Obama’s myth, and the green industry rewarded me by keeping me unemployed ever since. Obama invested billions in the clean energy sector. Flameout after flameout like the solar company, Solyndra, resulted. There was hardly any accrual in new green jobs. That was the myth of the clean-energy industry — that the technology and business...
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Trump's Carrier Is Not Obama's Solyndra
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American Thinker ^
| December 4, 2016 | Daniel John Sobieski
No sooner had president-elect Trump announced a deal had been reached with air conditioner manufacturer Carrier to keep 1,100 manufacturing jobs in Indiana rather than being shipped to Mexico, the usual suspects began chattering about “corporate welfare”, “crony capitalism”, and the hypocritical picking of winners and losers. Carrier
is an established business, not a pipe dream like the green energy failures President Obama subsidized like Solyndra. It is one of many U.S. businesses struggling to survive in the Obama era of high taxes and oppressive regulation. Trump has promised to cut corporate taxes and eliminate oppressive and job-killing regulations, but...
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Hillary Calls for Solyndra 2.0
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lifesette ^
| 26 Sep 2016 at 10:30 PM | y Jim Stinson
In first moments of debate, Clinton reboots subsidy push for well-connected green energy firmsne of the first dust-ups in the debate was about green energy.As expected, Democratic presidential Hillary Clinton pleaded for expanded green energy policies — or in other words — expanded green subsidies.Within the first 10 minutes, Clinton said she
wanted the United States to be the world capital of clean, green energy.“Some country is going to be the clean energy super power of the 21st century,” said Clinton. “Donald thinks climate change is a hoax perpetrated by the Chinese. I think it’s real.”Trump interrupted, protesting her claim....
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Solyndra and the Obama Legacy
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American Thinker ^
| August 6, 2016 | Ryan M. Yonk
As contenders scramble for the White House this fall, thoughts have naturally turned to President Obama’s legacy, and particularly his environmental legacy. As
taxpayers consider the lessons of that legacy they would do well to consider past support and use of taxpayer dollars for favored industries and companies. One of those once favored companies is the now defunct renewable energy company Solyndra. During the late 2000s, the Obama administration deployed its political capital to cultivate an environmentally friendly image for the president. In a quest for renewable energy as part of the stimulus package and at the urging of the...
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When Obama carried out his Solyndra scam, he broke the same law that Martha Stewart went to prison
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wordpress ^
| September 8, 2012 | Dan from Squirrel Hill
When Obama carried out his Solyndra con game, he broke the same law that Martha Stewart went to prison for breaking In 2009 the Obama administration gave $535 million to Solyndra, claiming that it would create 4,000 new jobs. However,
instead of creating those 4,000 new jobs, the company went bankrupt. It was later revealed that the company’s shareholders and executives had made substantial donations to Obama’s campaign, that the company had spent a large sum of money on lobbying, and that Solyndra executives had had many meetings with White House officials. It was also revealed that the Obama administration had...
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If you thought Solyndra was a waste of money...
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Investor's Business Daily ^
| 1/13/2015 | Staff
Energy: There's no shortage of points to pick apart in the president's final State of the Union, as we've done above. But
one deserves close scrutiny: Obama's claim that he "reinvented our energy sector."
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Solyndra investor who made out like a bandit to host Hillary fundraiser
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American Thinker ^
| December 12, 2015 | Rick Moran
On Friday, Hillary Clinton attended a fundraiser hosted by George Kaiser, a noted businessman and philanthropist who was a major bundler for resident Obama in 2008. He
is also the founder of Argonaut Private Equity, a hedge fund that poured $270 million into the now bankrupt solar company Solyndra. In 2009, Solyndra received more than half a billion dollars in taxpayer guaranteed loans. When the company went belly up in 2011, Kaiser and other investors were given a soft landing when they were guaranteed certain tax breaks that would kick in if Solyndra went bankrupt. Kaiser is a curious choice...
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US Taxpayer Faces $230 Million Loss As Spain's 'Solyndra' Files For Creditor Protection
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Zero Hedge ^
| 25 November 2015 | Taylor Tyler
"The future of the company seems very black," notes on trader as the bonds and stocks of Spanish renewbles form Abengoa lives up to its name and files for creditor protection, just as we warned was likely. With
the stock crashing 70% to 28c and 4-month bonds trading at just 22c on the dollar, market participants face an almost total loss.. but, as we detailed previously, it is the American taxpayer - who thanks to Ex-Im Bank loans to keep this zombie alive - face losses of $230 million as Spain's Solyndra exposes another symptom of the Oligrachic ignorance of...
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Solyndra II: Energy Company Busts on Eve of Climate Summit
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Breitbart ^
| November 29, 2015 | by CHRISS W. STREET
As President Barack Obama departed for the climate summit in Paris, he faces a new “Solyndra†scandal as Spain’s Abengoa SA, which received $3 billion in administration sustainable energy loans and Export-Import Bank guarantees, announced that it has started bankruptcy proceeding and may soon default on its debt. The
Obama administration tucked $90 billion of stimulus money for energy projects into a huge corner of the $800 billion American Recovery and Reinvestment Act, passed with no Republican votes barely a month into Obama’s presidency. The money was supposedly allocated to fund “strategic clean energy investments intended to promote job creation...
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Solyndra autopsy: Did Inspector General go too easy on Department of Energy?
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Watchdog ^
| August 31, 2015 | Rob Nikolewski
An Inspector General of the Department of Energy report that picked over the bones of the Solyndra green energy fiasco placed most of the blame on Solyndra executives for losing more than $500 million in taxpayer money. But
a close reading shows DOE made plenty of mistakes as well. The report authored by DOE Inspector General Gregory H. Friedman came just short of calling Solyndra’s highest officials liars, saying their actions during the loan process were “at best, reckless and irresponsible or, at worst, an orchestrated effort to knowingly and intentionally deceive and mislead the Department.” While the 13-page report...
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Solyndra Misrepresented Facts to Get Loan Guarantee, Report Says
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Wall Street Journal ^
| Aug. 26, 2015 | Associated Press
A four-year investigation has concluded that officials of the solar company Solyndra misrepresented facts and omitted key information in their efforts to get a $535 million loan guarantee from the U.S. government. Solyndra
was the first company to get federal loan guarantees under a program that was created in 2005 and expanded by President Barack Obama’s 2009 economic stimulus package. The company’s failure soon after receiving the loan guarantee likely will cost taxpayers more than $500 million. Republicans and other critics cite it as an example of wasteful spending under the stimulus program. The report by the Energy Department’s inspector...
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Report: Solyndra Misrepresented Facts to Get Loan Guarantee
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ABC ^
| KEVIN FREKING Associated Press
A four-year investigation has concluded that officials of the solar company Solyndra misrepresented facts and omitted key information in their efforts to get a $535 million loan guarantee from the federal government. The
company's collapse soon after getting federal backing provided ammunition to lawmakers and other critics who portrayed President Barack Obama's economic stimulus program as wasteful government spending. The company's failure likely will cost taxpayers more than $500 million. "In our view, the investigative record suggests that the actions of certain Solyndra officials were, at best, reckless and irresponsible or, at worst, an orchestrated effort to knowingly and intentionally...
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Meet Solyndra 2.0: This US-Taxpayer-Subsidized Spanish "Renewables" Firm Is Collapsing
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Zero Hedge ^
| 08/04/2015 | Tyler Durden
News that bonds and stocks of Abengoa SA - the Spanish renewable-energy company - plunged after a plan to shore up capital failed to reassure investors that it can stop burning cash is likely to have passed many by. But
coming just one day after President Obama unleashed his Clean Power Plan, the fact that the company - that is now facing significant liquidity concerns - received over $230 million in US taxpayer subsidies in 2014 - despite two ongoing federal investigations - may raise an eyebrow or two as images of Solyndra's government-sponsored farce come to mind... as...
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