Solyndra scandal
The Solyndra scandal began in September 2011. [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 an inferior product while making a profit.
See Also
References
- ↑ 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
