Difference between revisions of "Solyndra scandal"
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| − | The '''Solyndra scandal''' is a scandal, which | + | The '''Solyndra scandal''' is a scandal, which broke as september of 2011 began. <ref>[http://www.google.com/trends?q=Solyndra&ctab=0&geo=all&date=mtd&sort=0 Google trends: Solyndra, last 30 days] retrieved Sept 17th 2011</ref> Solyndra was a thin film [[solar panel|solar cell]] company that began in 2008 and received a loan guarantee of approximately $535,000,000 as part of the [[green jobs]] portion of the [[Obama]] [[stimulus]] bill in early 2009. The company used this easy money to build a state of the art factory which they continued to improve on up until within 1 week of filing for bankruptcy protection. Before the plant was constructed a Chinese firm had begun producing a similar thin film solar product at a lower price than that projected for Solyndra's product.<ref>[http://www.breitbart.tv/ex-solyndra-employee-everyone-knew-the-plant-wouldnt-work/ Ex-Solyndra employee everyone knew the plant wouldn't work] Breitbart TV, retrieved Sept 17th 2011</ref> Divorcing the financing of projects from the market reality of the sector enables these sorts of mishaps and Solyndra is not the only green jobs stimulus firm affected.<ref>[http://www.foxnews.com/politics/2011/09/15/despite-stimulus-funding-solyndra-and-4-other-companies-have-hit-rock-bottom/ Solyndra Not Sole Firm to Hit Rock Bottom Despite Stimulus Funding] FOX News, Retrieved Sept 17th 2011</ref> The plant has had difficulty finding a buyer <ref>[http://www.reuters.com/article/2011/09/17/us-solyndra-idUSTRE78F4SS20110917 Solyndra says needs more time to find buyers]Reuters news organization, retrieved Sept 17th 2011</ref> presumably because of the futility of producing a product at an inferior price. |
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Revision as of 04:01, September 18, 2011
The Solyndra scandal is a scandal, which broke as september of 2011 began. [1] Solyndra was a thin film solar cell company that began in 2008 and received a loan guarantee of approximately $535,000,000 as part of the green jobs portion of the Obama stimulus bill in early 2009. The company used this easy money to build a state of the art factory which they continued to improve on up until within 1 week of filing for bankruptcy protection. Before the plant was constructed a Chinese firm had begun producing a similar thin film solar product at a lower price than that projected for Solyndra's product.[2] Divorcing the financing of projects from the market reality of the sector enables these sorts of mishaps and Solyndra is not the only green jobs stimulus firm affected.[3] The plant has had difficulty finding a buyer [4] presumably because of the futility of producing a product at an inferior price.
- ↑ Google trends: Solyndra, last 30 days retrieved Sept 17th 2011
- ↑ Ex-Solyndra employee everyone knew the plant wouldn't work Breitbart TV, retrieved Sept 17th 2011
- ↑ Solyndra Not Sole Firm to Hit Rock Bottom Despite Stimulus Funding FOX News, Retrieved Sept 17th 2011
- ↑ Solyndra says needs more time to find buyersReuters news organization, retrieved Sept 17th 2011