Solyndra- Obama's new nightmare.

[boedicca]

Definitely C. Most Definitely.

 

[edthecynic]

Link?

I already posted the link in this thread. Why didn't you ask oldstyle to post a link showing the BUSH administration said no to the loan the BUSH administration requested approval on?

Bush admin pushed Solyndra loan guarantee for two years | Grist

January 2009: In an effort to show it has done something to support renewable energy, the Bush administration tries to take Solyndra before a DOE credit review committee just one day before President Obama is inaugurated. The committee, consisting of career civil servants with financial expertise, remands the loan back to DOE because it wasn't ready for conditional commitment.

Absolute Spin Cycle Nonsense.

Bush left office with the loan UNAPPROVED. It wasn't until the summer of 2009 that that the Obama Administration DISREGARDED negative assessment by a DOE analyst and proceeded with the loan anyway.

Notice the backpedal. CON$ went from the BUSH administration SAID NO to the loan, to the loan was unapproved when BUSH left office, once it was shown that the BUSH administration requested approval of the loan and non BUSH appointed civil servants said no to the BUSH administration loan.

 

[Jarhead]

But that was not the case when the loan was approved. The price dropped because the Chinese begin rapidly scaling domestic manufacturing and set a path toward dramatic, unforeseen cost reductions in PV. Between June of 2009 and August of 2011, PV prices drop more than 50 percent. The Chinese recognized the value of solar energy production and proceeded to take over the market. The GOP let them do it without a fight!

Oh NOEESSS!!11!!!!!!!

The EVUL GOP did not prevent COMPETITION!

No, the GOP DID prevent competition by not SUPPORTING American competition against China!!!
Dang, CON$ are always ass backwards.

lol.

The sad thing is, you are serious.

You will dig deep to find some way to blame the GOP on anything anyne on the left does.

I will admit...you are quite creative....if only you would apply such creativity to innovation...I bet you would be a successful business owner and fighting on the side of the right.

 

[boedicca]

B'loney.

Edthemoron can spin and lie as much as he wishes. One fact remains immutable: the loan was approved and promoted as approved by the Obama Administration.

 

[Warrior102]

I already posted the link in this thread. Why didn't you ask oldstyle to post a link showing the BUSH administration said no to the loan the BUSH administration requested approval on?

Bush admin pushed Solyndra loan guarantee for two years | Grist

January 2009: In an effort to show it has done something to support renewable energy, the Bush administration tries to take Solyndra before a DOE credit review committee just one day before President Obama is inaugurated. The committee, consisting of career civil servants with financial expertise, remands the loan back to DOE because it wasn't ready for conditional commitment.

Absolute Spin Cycle Nonsense.

Bush left office with the loan UNAPPROVED. It wasn't until the summer of 2009 that that the Obama Administration DISREGARDED negative assessment by a DOE analyst and proceeded with the loan anyway.

Notice the backpedal. CON$ went from the BUSH administration SAID NO to the loan, to the loan was unapproved when BUSH left office, once it was shown that the BUSH administration requested approval of the loan and non BUSH appointed civil servants said no to the BUSH administration loan.

Oh, I get it. This is Bush's fault.

Where's Obama? Golfing?

 

[Warrior102]

Oh NOEESSS!!11!!!!!!!

The EVUL GOP did not prevent COMPETITION!

No, the GOP DID prevent competition by not SUPPORTING American competition against China!!!
Dang, CON$ are always ass backwards.

lol.

The sad thing is, you are serious.

You will dig deep to find some way to blame the GOP on anything anyne on the left does.

I will admit...you are quite creative....if only you would apply such creativity to innovation...I bet you would be a successful business owner and fighting on the side of the right.

I bet he'd qualify for one of those "Shovel Ready" jobs his hero created.

 

[Jarhead]

I already posted the link in this thread. Why didn't you ask oldstyle to post a link showing the BUSH administration said no to the loan the BUSH administration requested approval on?

Bush admin pushed Solyndra loan guarantee for two years | Grist

January 2009: In an effort to show it has done something to support renewable energy, the Bush administration tries to take Solyndra before a DOE credit review committee just one day before President Obama is inaugurated. The committee, consisting of career civil servants with financial expertise, remands the loan back to DOE because it wasn't ready for conditional commitment.

Absolute Spin Cycle Nonsense.

Bush left office with the loan UNAPPROVED. It wasn't until the summer of 2009 that that the Obama Administration DISREGARDED negative assessment by a DOE analyst and proceeded with the loan anyway.

Notice the backpedal. CON$ went from the BUSH administration SAID NO to the loan, to the loan was unapproved when BUSH left office, once it was shown that the BUSH administration requested approval of the loan and non BUSH appointed civil servants said no to the BUSH administration loan.

you see...this is why there is a hearing and an investigation.

The Bush administration wanted to lend the money, but hired individuals who had the responsibility of analyzing the viability of the loans said "bad deal".

Now it APPEARS (we will soon find out) that those hired individuals told the Obama administration the same thing, but the White House pushed for them to approve the loan anyway.

And if this is true (and the emails imply it is)...the question is "does the President have the ability to analyze the creidt worthiness of a borrower"...and if he does, is he more qualified than an accreddted financial analyst such as PWC?

And if he is, then why did he spend tax payer money on hiring PWC?

Sorry Ed...this thing stinks and your attempts to blame Bush are pathetic......albeit, expected.

 

[Meister]

B'loney.

Edthemoron can spin and lie as much as he wishes. One fact remains immutable: the loan was approved and promoted as approved by the Obama Administration.

the loan was approved and promoted as approved, and the funds were distributed by the Obama Administration

 

[edthecynic]

This really is a perfect example of Crony Capitalism. The Obamites loaned taxpayer money to a company (that everyone knew would fail) simply because it fit their narrative of "Green Jobs". They make a product that sells for less than it costs to make! Maybe in a liberal utopia that plan works? Here in the real world, nobody would lend these people a dime. Obama and his team are economic nincompoops.

But that was not the case when the loan was approved. The price dropped because the Chinese begin rapidly scaling domestic manufacturing and set a path toward dramatic, unforeseen cost reductions in PV. Between June of 2009 and August of 2011, PV prices drop more than 50 percent. The Chinese recognized the value of solar energy production and proceeded to take over the market. The GOP let them do it without a fight!

With all due respect, you don't know what you are talking about. The Solyndra products were never competitive with standard PV modules or even thin film PV - whether manufactured in the US or in China. They were the industrial equivalents of Narcissus, staring at their reflections and seeing only a beautiful product. Never once considering the economic realities that were involved. The price of installed Solar is essentially the same now as it was 2 years ago when the nincompoops approved the loans. I have personally installed and sold Industrial PV systems for the past 5 years. My Company has priced out the Solyndra system numerous times and they are always 30-40% higher installed cost to the customer than other systems. Uni-solar is manufactured in Michigan and is a thin film PV- it costs 25% less that the price of Solyndra- and that's after Solyndra discounted their price to less than cost. Sell crazy somewhere else.....

Except, the Solyndra design produces more electricity than flat thin film solar collectors, so the price difference per power generated per day is negligible. The big problem with thin film solar collectors is they are less efficient than silicon requiring more roof surface to collect the same energy as silicone collectors. Not everyone has a large enough roof area to make thin film collectors practical. Solyndra's self-tracking thin film design allows collecting more energy throughout the day making them more competitive with silicone collectors.

 

[saveliberty]

Solyndra itself released a statement saying they couldn't compete Ed. Pretty funny watching your spin. Dizzy yet?

 

[Jarhead]

B'loney.

Edthemoron can spin and lie as much as he wishes. One fact remains immutable: the loan was approved and promoted as approved by the Obama Administration.

the loan was approved and promoted as approved, and the funds were distributed by the Obama Administration

and up to the final minute before they are funded, loans go under full and final scrutiny.

As a matter of fact, when you re-finance your mortgage, it does not fund for 3 days after for the reason of final scrutiny of the credit worthiness of the borrower and the viablility of the collateral.

I truly think this was cronyism to the max and will be Obamas demise.

 

[edthecynic]

Absolute Spin Cycle Nonsense.

Bush left office with the loan UNAPPROVED. It wasn't until the summer of 2009 that that the Obama Administration DISREGARDED negative assessment by a DOE analyst and proceeded with the loan anyway.

Notice the backpedal. CON$ went from the BUSH administration SAID NO to the loan, to the loan was unapproved when BUSH left office, once it was shown that the BUSH administration requested approval of the loan and non BUSH appointed civil servants said no to the BUSH administration loan.

you see...this is why there is a hearing and an investigation.

The Bush administration wanted to lend the money, but hired individuals who had the responsibility of analyzing the viability of the loans said "bad deal".

Now it APPEARS (we will soon find out) that those hired individuals told the Obama administration the same thing, but the White House pushed for them to approve the loan anyway.

And if this is true (and the emails imply it is)...the question is "does the President have the ability to analyze the creidt worthiness of a borrower"...and if he does, is he more qualified than an accreddted financial analyst such as PWC?

And if he is, then why did he spend tax payer money on hiring PWC?

Sorry Ed...this thing stinks and your attempts to blame Bush are pathetic......albeit, expected.

Again the BUSHIES try to take credit for hiring people they didn't hire.

The civil servants worked for the DOE before BUSH and after BUSH and it was these same civil servants who modified the rejected BUSH loan to protect the taxpayers' investment that was finally approved. The White House pushed nothing, and the loan was approved in 2009 but PW did not do their audit until 2010.
But keep spinning, I'm enjoying it.

 

[boedicca]

Not half as much as the rest of are enjoying watching you making a Total Tard of yourself.

 

[Warrior102]

Notice the backpedal. CON$ went from the BUSH administration SAID NO to the loan, to the loan was unapproved when BUSH left office, once it was shown that the BUSH administration requested approval of the loan and non BUSH appointed civil servants said no to the BUSH administration loan.

you see...this is why there is a hearing and an investigation.

The Bush administration wanted to lend the money, but hired individuals who had the responsibility of analyzing the viability of the loans said "bad deal".

Now it APPEARS (we will soon find out) that those hired individuals told the Obama administration the same thing, but the White House pushed for them to approve the loan anyway.

And if this is true (and the emails imply it is)...the question is "does the President have the ability to analyze the creidt worthiness of a borrower"...and if he does, is he more qualified than an accreddted financial analyst such as PWC?

And if he is, then why did he spend tax payer money on hiring PWC?

Sorry Ed...this thing stinks and your attempts to blame Bush are pathetic......albeit, expected.

Again the BUSHIES try to take credit for hiring people they didn't hire.

The civil servants worked for the DOE before BUSH and after BUSH and it was these same civil servants who modified the rejected BUSH loan to protect the taxpayers' investment that was finally approved. The White House pushed nothing, and the loan was approved in 2009 but PW did not do their audit until 2010.
But keep spinning, I'm enjoying it.

Who's this "Bush" guy you're fixated on. Pull your nose off of Obama's ass for a moment and take a deep breath.

 

[edthecynic]

B'loney.

Edthemoron can spin and lie as much as he wishes. One fact remains immutable: the loan was approved and promoted as approved by the Obama Administration.

the loan was approved and promoted as approved, and the funds were distributed by the Obama Administration

and up to the final minute before they are funded, loans go under full and final scrutiny.

As a matter of fact, when you re-finance your mortgage, it does not fund for 3 days after for the reason of final scrutiny of the credit worthiness of the borrower and the viablility of the collateral.

I truly think this was cronyism to the max and will be Obamas demise.

The DOE credit committee gave provisional approval to the reworked loan in March of 2009. The loan guarantee was not issued until September 2009. That's 6 months of final scrutiny!!!

 

[saveliberty]

The DOE credit committee gave provisional approval to the reworked loan in March of 2009. The loan guarantee was not issued until September 2009. That's 6 months of final scrutiny!!!

Scams like this go on in penny stocks all the time. Key Obama advisors have no business experience. I have said this for years now. The left thinks it makes no difference. It certainly looks like it will in this case.

 

[boedicca]

the loan was approved and promoted as approved, and the funds were distributed by the Obama Administration

and up to the final minute before they are funded, loans go under full and final scrutiny.

As a matter of fact, when you re-finance your mortgage, it does not fund for 3 days after for the reason of final scrutiny of the credit worthiness of the borrower and the viablility of the collateral.

I truly think this was cronyism to the max and will be Obamas demise.

The DOE credit committee gave provisional approval to the reworked loan in March of 2009. The loan guarantee was not issued until September 2009. That's 6 months of final scrutiny!!!

And a few months later, looking at the same financial data the DOE did, Pricewaterhouse issued a going concern opinion which killed the IPO:

The auditor of Solyndra Inc has questioned the survival prospects for the maker of thin film solar panels, an assessment that could threaten the company's ability to raise as much as $300 million in an initial public offering.

PricewaterhouseCoopers LLP said Solyndra's recurring operating losses, negative cash flows, $532.3 million stockholder deficit and other factors "raise substantial doubt about its ability to continue as a going concern."

The assessment was disclosed in an amended registration statement filed by Solyndra last month with the U.S. Securities and Exchange Commission.

(snip)

In the filing, Solyndra reported a $172.5 million net loss for the year ended January 2, on revenue of $100.5 million.

That compared with a net loss of $232.1 million on revenue of $6 million a year earlier.

Solar company Solyndra's survival in doubt pre-IPO | Reuters


The Obama Administration approved a loan in excess of $500M+ to a company that lost $232.1M the year before.

WOW.

 

[saveliberty]

Must be hard to get SEC documents over at DOE. Typing out a request and sending the email. Hard stuff.

 

[Soggy in NOLA]

the loan was approved and promoted as approved, and the funds were distributed by the Obama Administration

and up to the final minute before they are funded, loans go under full and final scrutiny.

As a matter of fact, when you re-finance your mortgage, it does not fund for 3 days after for the reason of final scrutiny of the credit worthiness of the borrower and the viablility of the collateral.

I truly think this was cronyism to the max and will be Obamas demise.

The DOE credit committee gave provisional approval to the reworked loan in March of 2009. The loan guarantee was not issued until September 2009. That's 6 months of final scrutiny!!!

Yeah, six months of inept scrutiny apparently... but what'd ya expect? My paper boy has more experience than this bunch.

 

[Ame®icano]