Abound Solar is latest government-backed bankruptcy

[mad1]

NEW YORK (CNNMoney) -- Abound Solar announced plans Thursday to file for bankruptcy and suspend operations, becoming the industry's latest government-backed firm to close its doors.

The solar-panel manufacturer was approved for a $400 million loan guarantee by the Department of Energy in 2010, though the Department ultimately lent the company only $70 million.

Abound Solar is latest government-backed bankruptcy - Jun. 28, 2012

This makes it the third government backed green energy company to file for bankruptcy in the last year.

[Whir]

Shoulda gone non-profit, man.

[aldtech]

Abound Solar is latest government-backed bankruptcy - Jun. 28, 2012

This makes it the third government backed green energy company to file for bankruptcy in the last year.

So what's your point?

[Chuckiechan]

The government does a lousy job of picking winners. It's best left to the market place.

[Epidemic]

Chuckie,


What is the winner to loser ratio right now? I don't know how many green investments they have made?

[sharder8]

To date . . . Winners = 0, Losers = 3.

To early yet, to have winners. Some are surviving and still gaining ground, some are holding, and some are sliding toward Loser.

Also, not all got money through Obama's stimulus, some got money under Bush JR. Those that got money under Bush JR haven't made "winner" status yet as well and I'm sure there were some losers under Bush JR's funding as well.


Harder

[Taxmancometh]

Just goes to show you the government can't create jobs! They can't do anything! Like health care! It will be a catastrophe.

[sharder8]

Just goes to show you the government can't create jobs! They can't do anything! Like health care! It will be a catastrophe.

What do you mean, the Government can't create jobs???

War = employment possibilities for the military
Crappy economy = welfare agency employment opportunities.
Obama Care = IRS employee opportunities

Just think of how many jobs the Government has created in the last 3 years alone!




Harder

[Taxmancometh]

[tony_j15]

The government does a lousy job of picking winners. It's best left to the market place.

I've pointed out before that you're FoS when you state this. Look no farther than than our security and war industries. Everything they make is off of government contracts, and the government picks the winner of the contracts. I don't hear you complaining that Lockheed got the F-35 contract instead of Boeing.

Just goes to show you the government can't create jobs! They can't do anything! Like health care! It will be a catastrophe.

I would like to refer you to what I wrote above to Chuck. If you say government can't create jobs, you're saying that everyone who works in Defense industries making planes, bombs, and bullets would still be employed if government withdrew their contracts. Is that what you actually think?

[The Real Bingo]

Corporatism FTL.

Tony has a learning disability when it comes to this sort of thing, apparently. How is a loan guarantee the same thing as contracting a company to build something for the government?

Let's see...pay creditors when company goes bankrupt vs. paying a company for a product. Yeah, sounds the same, all right.

[Taxmancometh]

Once again I

[brandon184]

To date . . . Winners = 0, Losers = 3.

You think that the federal government has only ever made 3 loan guarantees?

LMAO!!!!

[pickel]

The government does a lousy job of picking winners. It's best left to the market place.

They did a GOOD job of picking the companies that supply guns , ammo, uniforms, oil, gas, etc. for the Wars that Bush started. He made ALL he's buddies very rich men. Reckon these guys don't count. Huh, Chuckie ???

[sharder8]

You think that the federal government has only ever made 3 loan guarantees?

LMAO!!!!

Still haven't learned to read . . . huh brandon.

RE-READ MY POST AGAIN!




Harder

[tony_j15]

Tony has a learning disability when it comes to this sort of thing, apparently. How is a loan guarantee the same thing as contracting a company to build something for the government?

I suggest going back and actually reading what I wrote, who I wrote it to, and the context. You're out in left field, unfortunately.

[Chuckiechan]

Everything they make is off of government contracts, and the government picks the winner of the contracts.

You are right Tony. They do pick winners... Of contracts... My bad...

The difference between defense and solar is the private sector does not have it's own defense industry. All of it's efforts are directed at meeting government 'specs', and arriving at a price or prototype.

The solar industry, is giving tax money to connected cronies, and letting them build a factory "to see what happens". In the case of Solyndra, the cronies money was protected from loss by being made "last in line", rather "first in line" as in a normal business. But who cares, it's only "funny money! You know what that is! Taxpayer money! There is no end of that!

Solyndra and it's siblings are a money pit run my Obama's cronies at taxpayer expense.

[The Real Bingo]

I suggest going back and actually reading what I wrote, who I wrote it to, and the context. You're out in left field, unfortunately.

Yeah, I see it. You compared "winning" a contract to "winning" a loan guarantee.