FREMONT (CBS 5) — After filing for bankruptcy last year, Fremont solar company Solyndra still owes American taxpayers half a billion dollars. But CBS 5 caught them destroying millions of dollars worth of parts. At Solyndra's sprawling complex in Fremont, workers in white jumpsuits were unwrapping brand new glass tubes used in solar panels last week. They are the latest, most cutting-edge solar technology, and they are being thrown into dumpsters. Forklifts brought one pallet after another piled high with the carefully packaged glass. Slowly but surely it all ended up shattered. And it's not a few loads. Hundreds of thousands of tubes on shrink-wrapped pallets will meet a similar demise. Solyndra paid at least $2 million for the specialized glass. A CBS 5 crew found one piece lying in the parking lot. Solyndra still owes the German company that made the tubes close to another $8 million. So why is a bankrupt company that owes a fortune to creditors, including American taxpayers, throwing away millions of dollars worth of assets? Solyndra is not commenting. But court documents reveal the company received permission from the bankruptcy trustee to abandon the high grade glass, the court agreeing that it was of "inconsequential value" because the cost of storing them exceeds their value. An employee for Heritage Global Partners, the company in charge of selling Solyndra's assets, told CBS 5 they conducted an exhaustive search for buyers but no one wanted them. But how <b>...</b>
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Fact Check: Obama TV Ad Touts Record on Ethics, Clean Energy ABC News (blog) Please subtract a few hundred for Solyndra scam, 565 million dollars of tax payer money for political paybacks to Kaiser all gone. The man has no shame. The only jobs he created and that is arguable, is big box stores working part time with minimum ... and more » |
For Help With Their Failed GM 'Investment,' Obama Administration Asked…Bain ... Big Government See, President Obama – it's kind of like your “investing” in Solyndra, and Fisker, and Beacon Power, and…. Only President Obama – yours never work out. And Bain would never dump money into such absurd companies or concepts. And Bain uses their own ... and more » |
Romney's Attack on Crony Capitalism Big Government The VCs can also do the "visionary" thing but they are constrained by the fact that they are risking their own money. The fact that Solyndra failed was not what made the story newsworthy. It was just a very clear example of a universal phenomenon. and more » |
Obama's TV ads to go up soon? msnbc.com And we are getting that ad plus the Koch Brothers - Americans for Prosperity $6 million ad buy against President Barack Obama on Solyndra. The ads will run in Ohio and other swing states from Monday, Jan. 16th (yesterday) through the Jan. and more » |
Jim DeMint Is Right: It's Time for a Debate Between Conservatives and Libertarians Big Government At this point I question everything, and trust no one. I can do my own thinking This is a good article. Senator Demint is right. This is why Ron Paul needs to be part of the conversation. So he goes off the deep end in some ways. |
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