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Colorado's own green loan sinkhole
There's no escaping Solyndra Syndrome. Here in my home state of Colorado, citizen journalists have uncovered our own gaping government green loan sinkhole. The stench of Chicago-on-the-Potomac is fouling the fresh Rocky Mountain air.
Meet Loveland-based Abound Solar, the lucky winner of a $400 million federal loan guarantee from the Obama administration. Earlier this month, the thin-film cadmium telluride solar module-maker announced layoffs of nearly 300 employees (70 percent of its workforce). In addition, the firm froze plans to build a new factory in Indiana. Abound says it will ride out bad market conditions and "hopefully" survive until the market recovers.
But White House hope-a-nomics is what got Abound and taxpayers into trouble in the first place.
This week, CompleteColorado.com obtained a new set of documents revealing "that Abound Solar created an unexpected, and previously unreported 10 day production shutdown over the Christmas and New Year's holidays, and then went on to tell employees, 'Don't let the rumor mill create false purposes for this shutdown.' The shutdown was announced to employees just after Thanksgiving by company president Craig Witsoe."
Well, at least Indiana can take comfort in the fact that another ' Obama-Green-Hope ' scheme isn't coming to their state.
. In addition, the firm froze plans to build a new factory in Indiana. Abound says it will ride out bad market conditions and "hopefully" survive until the market recovers.
Originally posted by TsukiLunar
I dont know what you guys are so mad about. We are going to have to spend money investing in renewable energy at some point. Not too mention in the long run this will probably end up saving a lot of money.
People just aren't buying the technology. They just don't see the need and do not want to deal with the upkeep.
There is also the fact of cost of production as well. To sell people the technology it needs to be reasonably priced. Well... that can get a bit tricky.
All in all, an endeavor like this cannot be expected to succeed automatically and in fact failures absolutely should be expected.
Rather, isnt it a bit odd that people on ATS complain when the government invest in something that has actual honest value to the world at large?
All in all, an endeavor like this cannot be expected to succeed automatically and in fact failures absolutely should be expected.
Originally posted by ltinycdancerg
How about all you haters direct your hate where it's deserved...edit on 10-3-2012 by ltinycdancerg because: (no reason given)
Originally posted by ltinycdancerg
reply to post by xuenchen
FOR THE RECORD-
ACTUALLY, the government has ONLY given Abound about 1/4 of that loan-
and a big part of WHY Abound is having to cut back is BECAUSE the GOVERNMENT has failed to meet their end of the deal:
- Because of Solyndra;
- Because of the MSM and their typical BS: REPUBLICANS WANT THEM TO FAIL SO IT LOOKS BAD ON OBAMA- really pathetic and unpatriotic (which is nothing new though...);
- Because of CHINA;
oh yeah...and...
WE ARE BROKE...
thanks to the government.
DON'T TAKE IT OUT ON THESE COMPANIES, PEOPLE!
TAKE IT OUT ON THE POLITICIANS.
WHY would you want thousands of our fellow, hardworking, innocent citizens TO FAIL?!?
You may as well change your name to BILL O'REILLY.
All of us haters?
Originally posted by ltinycdancerg
How about all you haters direct your hate where it's deserved...edit on 10-3-2012 by ltinycdancerg because: (no reason given)
Obama backed a solar panel company that has ties to Democratic Party donors, we should absolutely expect failure.
Originally posted by TsukiLunar
All in all, an endeavor like this cannot be expected to succeed automatically and in fact failures absolutely should be expected.
Just for truth.
Originally posted by TsukiLunar
reply to post by butcherguy
Obama backed a solar panel company that has ties to Democratic Party donors, we should absolutely expect failure.
I don't understand why you felt the need to take a dig a democrats. Just for fun...?
The government money = MY money.
And we as a nation are busted out financially -- right ?
A capitalist system allows private (voluntary) investors to create new technology. Let them gamble on failure.
Originally posted by TsukiLunar
I dont know what you guys are so mad about. We are going to have to spend money investing in renewable energy at some point.
Not too mention in the long run this will probably end up saving a lot of money.
Exactly. And if they fail then that means there's no demand for it, and hence should disappear.
Originally posted by TsukiLunar
I am not exactly sure what you mean. Are you saying that you don't want virtually free energy?