Solyndra to auction office equipment, spare parts
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October 19, 2011 BusinessWeek
businessweek.com
SAN DIEGO
Taxpayers will have a chance next month to recoup their losses on the federal government's $528 million loan guarantee to Solyndra Inc. when it auctions its office equipment, computers and more than seven megawatts of finished solar panels.
At least, you may get a deal on a laptop or a high-end desk chair.
Solyndra, which made solar panels, is selling the equipment Nov. 2 and Nov. 3 online and at its looming headquarters along Interstate 880 in Fremont, Calif., as part of its bankruptcy proceedings.
The sale will not include the factory or the production machinery inside, which Solyndra will auction separately as a "turnkey" operation.
Solyndra laid off more than 1,000 workers when it filed for bankruptcy court protection Sept. 6. The company received the $528 million loan guarantee as part of a federal program intended to encourage green energy production and job creation.
The auction will be conducted by Heritage Global Partners, which is based in San Diego and specializes in hawking the leftover pieces of bankrupt firms.
The auction will include equipment not necessary for Solyndra's manufacturing process, including millions of dollars' worth of spare parts, Heritage said. The seven megawatts of panels could provide enough electricity for more than 1,000 homes.
Members of the public can preview the items for sale from 8 a.m. to 5 p.m. Oct. 31 and Nov. 1. Further details on the auction and photos of much of the equipment for sale are at www.hgpauction.com. |
