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Politics : The Solyndra Scandal -- Ignore unavailable to you. Want to Upgrade?

To: Hope Praytochange who wrote (533)	7/16/2012 8:53:14 PM
From: joseffy	2 Recommendations Read Replies (1) \| Respond to of 1400

Obama Vows More Money for Green Energy: ‘When I Try Something That Doesn’t Work, Then I Don’t Try It Again' By Fred Lucas July 16, 2012 CNS Excerpt: (CNSNews.com) – President Barack Obama told a Cincinnati audience on Monday that he does not make the same mistake more than once. Minutes later, he told the same crowd he would continue spending federal dollars on green energy. The Obama administration has spent billions of taxpayer dollars on green energy companies, many of which either declared bankruptcy or created most of their jobs outside the United States. The most notable among these was Solyndra, which got a $535 million Energy Department loan in 2009, but declared Chapter 11 bankruptcy in 2011 shortly before being raided by the FBI. Speaking in the critical swing state of Ohio on Monday, Obama blamed tax cuts and other policies of the Bush administration for the country’s economic problems. He said Republicans are not proposing any different ideas for this campaign season. “I don’t know about you, but in my life what I’ve found, you know, sometimes I do boneheaded things, I make mistakes,” Obama said. “I find, when I try something that doesn’t work, then I don’t try it again. I don’t – you don’t go back to doing something that didn’t work.” Less than 10 minutes later, the president pledged that continuing to “invest” in green energy would be part of his agenda if reelected. “We’re going to invest in American energy,” Obama said. “Yes, we want to continue to expand our production of oil and natural gas, but I also want to make sure we are the leaders in solar and biodiesel – the energy of the future that can help reduce dependence on foreign oil.” The Obama administration spent $9 billion on solar and wind projects from 2009 to 2011 resulting in the creation of 910 “direct jobs,” according to a report by the National Renewable Energy Laboratory, which is part of the Energy Department. A study by the Heritage Foundation found that 19 of the companies that received loans or grants by the Obama administration have filed for bankruptcy or are in the process of doing so. Article

To: Hope Praytochange who wrote (533)	7/17/2012 11:32:06 AM
From: joseffy	1 Recommendation Read Replies (1) \| Respond to of 1400

Media Fail: Chevy Volt Makes NO Money, Costs Taxpayers Hundreds of Thousands of Dollars Per Car By Seton Motley \| July 17, 2012 \| 09:54 The Jurassic Press is missing much in their reporting on the $50 billion bailout of General Motors (GM). The Press is open channeling for President Barack Obama - allowing him to frame the bailout exactly as he wishes in the 2012 Presidential election. The President is running in large part on the bailout’s $30+ billion loss, uber-failed “ success.” And the Press is acting as his stenographers. An epitome of this bailout nightmare mess is the electric absurdity that is the Chevrolet Volt. The Press is at every turn covering up - rather than covering - the serial failures of President Obama’s signature vehicle. The Press has failed to mention at least five Volt fires, myopically focusing on the one the Obama Administration hand-selected for attention. The Press has failed to mention that the Volt fire problem remains unsolved. Is it the battery? Is it the charging station? Is it the charging cable? All of the above? GM and the Administration don’t know. And the Press ain’t breaking their necks trying to find out. In more recent news, the Press has almost as one hailed the June Volt sales increase. GM's Volt Sales Up in June Surprising June Sales for Volt Chevy Volt Leads US Plug-In Car Sales Chevy Volt Sales Increases Volt Records Second-Best Sales Month The Press has for the most part failed to mention how pathetic this “second-best sales month” actually is. And even when one Dinosaur does, the unwarranted enthusiasm is palpable. GM sells 1760 Volts in June, double from 2011 Wow. Huge number. The Press also fails to put this pathetic tally in perspective. The Chevy Cruze is basically a Volt without the dead-weight, flammable 400-lb. electric battery. Which makes it $17,000, rather than the Volt’s $41,000. Chevy in June sold 18,983 Cruzes - more than *ten times* the number of Volts. And that’s down 1/3 from last June’s 24,648. But that feeble Volt tally has the Press all revved up. And speaking of the Volt’s ridiculous $41,000 sticker price: According to multiple GM executives there is little or no profit being made on each Volt built at a present cost of around $40,000. Furthermore, the $700 million of development that went into the car has to be recouped. Get that? GM makes “little or no profit” on the Volt. So it makes perfect sense that GM would spend millions of dollars advertising it, does it not? No ideological or campaign intent there, eh President Obama? Look, I get it, it’s fun. I just spent $1 million - of your money - advertising free air. On which my profit margin is just as good as GM’s is on the Volt. Only my ads didn’t have a song, or a dance. We just aren’t as cool as the Volt. I mean, it’s so cool - it can travel back in time to inspire the production of cars before it even existed. I mean, it’s so cool - it can travel back in time to offer the exact same technology as a car from 1991. And the exact same electric battery range as a car from 1897. We’re talking retro-grade cool. But wait - there’s so much more. (A)dd $240 million in Energy Department grants doled out to G.M. last summer, $150 million in federal money to the Volt’s Korean battery supplier, up to $1.5 billion in tax breaks for purchasers and other consumer incentives, and some significant portion of the $14 billion loan G.M. got in 2008 for “retooling” its plants, and you’ve got some idea of how much taxpayer cash is built into every Volt. Speaking of those “tax breaks for purchasers and other consumer incentives” - as of November of last year that tally all by itself was $250,000 per Volt sold. And that excruciating pain is ongoing. Again, a Volt sold makes GM no money - but costs We the Taxpayers a $7,500 bribe - I mean “incentive.” Oh - and President Obama wants to jack that bribe to $10,000 per. I guess it’s good news after all that Volt sales remain so anemic. And with GM’s new 60-day return policy, it looks like you can buy a Volt and cash the $7,500 bribe check. Then return the Volt - and keep the $7,500 bribe cash. How’s that for Taxpayer coin stewardship? Keep all of this outrageousness in mind when next the Jurassic Press joins with the Obama Administration in celebrating the Chevy Volt. But it (allegedly) helps President Obama get reelected. And nothing would make the Press happier - and for that there’s (almost?) nothing they won’t do. Read more: newsbusters.org

To: Hope Praytochange who wrote (533)	7/18/2012 10:40:29 AM
From: joseffy	Read Replies (1) \| Respond to of 1400

Obama Official Doling Out Stimulus Green Energy Billions was like “A Hooker Dropped Into A Prison Exercise Yard” Buzzfeed found this amazing video of venture capitalist Paul Holland describing what it was like for Obama Department of Energy adviser Matt Rogers, who was charged with doling out $134 Billion in Green Energy Stimulus Money: This was at the Earth2Tech’s Green: Net 09 conference venture capital panel, a day after Foundation Capital’s Paul Holland had visited the White House. He was responding to the question, “what is the latest from DC, what were you doing there, and how can we all make some money off of that.” Holland’s description of Matt Rogers as “about to get treated like a hooker dropped into a prison exercise yard” doesn’t exactly sound like a careful, responsible “redistribution” of taxpayer money does it? But hey, it’s not like these Green Energy boondoggles are going into bankruptcy or anything, right? uhm. right? ............ http://www.soopermexican.com/2012/07/17/obama-official-doling-out-stimulus-green-energy-billions-was-like-a-hooker-dropped-into-a-prison-exercise-yard/

To: Hope Praytochange who wrote (533)	7/18/2012 11:39:40 PM
From: joseffy	2 Recommendations Read Replies (1) \| Respond to of 1400

Amonix closes North Las Vegas solar plant after 14 months, heavy federal subsidies Jerry Henkel/Las Vegas Review-Journal The Amonix solar manufacturing plant in North Las Vegas is seen Wednesday. The plant, which was heavily financed under an Obama adminstration energy initiative, has closed. By Hubble Smith LAS VEGAS REVIEW-JOURNAL: Jul. 18, 2012 lvrj.com The Amonix solar manufacturing plant in North Las Vegas, subsidized by more than $20 million in federal tax credits and grants, has closed its 214,000-square-foot facility about a year after it opened. Officials at Amonix headquarters in Seal Beach, Calif., have not responded to repeated calls for comment this week, but the company began selling equipment, from automated tooling systems to robotic welding cells, in an online auction Wednesday. A designer and manufacturer of concentrated photovoltaic solar power systems, Amonix received $6 million in federal tax credits for the North Las Vegas plant and a $15.6 million grant from the U.S. Department of Energy in 2007 for research and development. Rene Kenerly, a former material and supply manager at Amonix, said the plant has been idle since May 1, when he was laid off. At its peak, the plant had about 700 employees working three shifts a day to produce solar panels for a utility in Amarosa, Colo., he said. "I don't think they had a lot of training," Kenerly said. "There were a lot of quality issues. A lot of stuff was coming back because it had some functionality issues." The Amonix plant was highly touted by political leaders and economic development officials when it opened in May 2011. Company executives said they would employ as many as 300 assembly line workers paid $12 to $14 an hour, plus benefits. Nevada Sen. Harry Reid, U.S. Rep. Shelley Berkley, D-Nev., and Gov. Brian Sandoval were among the political leaders who lauded the company when it announced it would start making solar panels in the Golden Triangle Industrial Park. Reid in particular has pushed for solar energy research and development in Nevada, drawing parallels between the value of Nevada sunshine and Saudi Arabian oil. "Last year, Amonix CEO Brian Robertson was tragically killed in a plane crash and unfortunately the company was unable to recover from this difficult time," Reid said Wednesday in an e-mail statement. "Some people will be tempted to use today's unfortunate news for political gain. But I am hopeful that the bipartisan support for this project and the public-private partnership that helped make this and many other projects possible will not be degraded by dirty energy supporters for their own profit or political gain. The clean energy sector is too important to Nevada's future and I hope that those that publicly acknowledge this will continue to strengthen the bipartisan support for renewable energy programs and incentives that exists in Nevada." Department of Energy press secretary Jen Stutsman noted that the project had bipartisan support from elected officials, including Republicans Sandoval and North Las Vegas Mayor Shari Buck. Amonix was selected for a grant under the Bush Administration's Department of Energy in 2007, and eventually received a total of $15.6 million under the grant, she said. "The global solar industry is facing significant challenges that are impacting solar manufacturers worldwide," Stutsman said Wednesday from Washington. "Amonix, an innovative solar startup company with strong backing from Republicans as well as Democrats, received a tax credit to expand its American manufacturing operations and help ensure the United States continues to compete for the manufacturing jobs of the future. While today's news is disappointing, the United States simply can't afford to cede America's role in the growing, highly competitive solar energy industry." The company announced 200 layoffs in January, one month after Robertson was killed in a plane crash in Pennsylvania, but a representative at the time said the plant was "retooling to redeploy our next generation utility-scale CPV (concentrated photovoltaic) solar power system" and would "ramp back up based on the manufacturing build plan in second half of 2012." Mary-Sarah Kinner, press secretary for Gov. Sandoval, also noted Robertson's death. "After the tragic loss of their CEO late last year, today's news is a sad ending for Amonix," Kinner said. "The governor supported a company which was expanding to Nevada and creating jobs in a targeted economic development sector, which is a priority for him." Nevada's Department of Employment, Training and Rehabilitation's rapid response team is doing all it can to assist displaced workers in finding new employment, she said. North Las Vegas Mayor Buck and city economic development officials did not respond to requests for comment. Founded in 1989, Amonix is headquartered in Seal Beach with additional facilities in Torrance, Calif., and North Las Vegas. The company had a five-year lease on the North Las Vegas site with Operating Engineers. Donna Alderson, a CB Richard Ellis broker in charge of leasing the building, said she was told the facility would be vacated by the end of July and go on the market for lease at about 30 cents a square-foot. The North Las Vegas plant was a joint venture with Singapore's Flextronics Industrial. Amonix founder and chairman Vahan Garboushian had estimated capital investment of $15 million in the plant, including equipment, construction and tenant improvements. Kenerly, the former Amonix manager, said many investors pulled back after Robertson's death and the company was about $100 million in debt, including $34 million owed to Flextronics. Bombard Electric, the Las Vegas contractor that did the electrical work, has placed a lien on the property used for the solar panels, he said. Mitchell "Moe" Truman, president of Pan Western, a transportation service in North Las Vegas, said his company is owed about $60,000 for shipping Amonix products to and from Colorado. "I'll never see that money," Truman said. "I'd like to know how they burned through that money." POLITICAL FALLOUT In July 2010 President Obama talked up the Amonix plant during a Nevada visit to support Reid's re-election, saying that tax credits for the plant provided by federal economic stimulus efforts had already made an "extraordinary impact." "Now, the only problem we have is these credits were working so well, there aren't enough tax credits to go around,'' Obama said in a speech at the University of Nevada, Las Vegas. "There are more worthy projects than there are tax credits. When we announced the program last year, it was such a success we received 500 applications requesting over $8 billion in tax credits, but we only had $2.3 billion to invest. In other words, we had almost four times as many worthy requests as we had tax credits." The plant's closure quickly became a political football in the Nevada Senate race. "Congresswoman Berkley, when you voted for the trillion dollar stimulus, you promised it would create 34,000 jobs in Nevada," wrote Chandler Smith, spokeswoman for Nevada Rep. Dean Heller, a Republican running against Berkley for the open Senate seat. "Nevada lost jobs. Congresswoman Berkley, you pushed $6 million in funding to a company that has created zero long-term jobs for Nevada. It's time for you to admit the stimulus - and your policies - aren't working." Berkley's communications director, Xochitl Hinojosa, responded: "Shame on Senator Dean Heller. While Shelley Berkley and Republican Governor Brian Sandoval are working to make Nevada the clean energy jobs capital of America, Senator Heller is cheering the fact that hundreds of Nevadans have just lost their jobs because he thinks it will help his political campaign. However, Heller's rooting for failure should come as no surprise to Nevada's middle class, given his track record protecting tax breaks for corporations that ship American jobs overseas and defending China's unfair trade policies that are cheating Nevada workers out of thousands of good-paying jobs." Amonix isn't the only solar company to go under after receiving an infusion of federal capital. California-based Solyndra filed for bankruptcy last year after receiving $535 million in federal loan guarantees from the Obama administration. Colorado-based Abound Solar, which received a $70 million loan guaranteed by the Energy Department, filed for bankruptcy in June, succumbing to intense competition from China that has sharply driven down the cost of solar panels, chairman Thomas Tiller said in a Reuters news article.