The company, SunPower (SPWR-NASDAQ), now carries $820 million in debt, an amount $20 million greater than its market capitalization. If SunPower was a bank, the feds would shut it down. Instead, it received a lifeline twice the size of the money sent down the Solyndra drain
I'm afraid the whole greens job push by the administration has been a bust at best, and crony capitalism at its worst. And as I was reading, it's clear the administration doesn't know how to create a "green economy" - but are masters at wasting tax payers money.
"The Green Ball And Chain"
If companies were legitament investment opertunities, the free market would take car of it. The only possible reason for the government to have to do it is because it's a bad investment.
That is the best indicator of how cost effective it really is, or isn't. But when no private investors go near it, that's a red flag.
I am shocked they tried this shit in California, where cluster-fucks run amuck.
"The Energy Department says on its website that the $1.2 billion loan to help build the California Valley Solar Ranch in San Luis Obispo County, a project that will help create 15 permanent jobs, which adds up to the equivalent of $80 million in taxpayer money for each job."
Read more: http://www.foxnews.com/politics/2011/10/12/solar-firm-that-received-12-billion-federal-loan-plagued-by-financial-problems-702546811/#ixzz1adY6r9lD
http://news.yahoo.com/solyndra-loan-figure-raises-500k-obama-222716169.htmlSolyndra loan figure raises $500K for Obama
I do not know because I do not have the ability to be an expert on all things , but I am willing to bet that a lot of failures are due to Wall Street designing vehicles to pillage these companies
Just curious, how do you pillage a company that takes 1 million and upwards to create a job?
Car Company Gets U.S. Loan, Builds Cars In Finland
Sloth, I'm sorry to interject here, but you have made your profile private. I do inquire whether I could prevail upon you to graciously grant me the privilege of sending you PM's? If you are so inclined please PM me when you have.
You pillage a company by taking more money than something is worth
Pittbull what does that even mean? How did "wallstreet" pillage a company that received $1B in loans from our Gov to provide 16 jobs? It sounds like we got pillaged and someone got a nice kickback.
An example would be creating a job that pays $30,000 and figuring a way to pocket $100,000
Pillage is asimple concept . I promise to create 16 jobs for $1 billion dollars , do you remeber the $1000 toilet seats , coruption is an inherent part of American culture, mostly from that top %1
How so? Poor people don't steal shit?
Of course they do , they are just not in the position to steal big (AND GET AWAY WITH IT)
But you said wall street designed a vehicle to "pillage" these companies, the companies worked in collusion with the gov and their cronies to get a bunch of money for projects that no venture capital or private equity firm would touch. Wall Street had nothing to do with a shitty company getting a fuck ton of money from the Fed Gov and it never being a good investment in the first place, and secondly our Fed Gov should not be playing Lender like this especially if it's to push some green agenda bullshit.
Solyndra, Fisker, Tesla roadster, SunPower, you know just a few billion in loans that will never be paid back, ohh and how many of them have conflict of interest connections to the Fed Gov? ALL OF THEM!
Hey, you need to stop talking about this. Don't you know, Obama is honest and scandal free!
Well , I have not researched it , as I am sure you have not as well . But vehicles are designed to make theft apear to be ligitimate . Other wise it would be a simple theft .
I can not argue with your DEMAGOUGED theory .