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Solyndra was a manufacturer of cylindrical panels of copper indium gallium selenide (CIGS) thin film solar cells. It was based in Fremont, California . In 2009, the Obama administration co-signed $535 million in loans to Solyndra.
In 2011 and 2012, AFP spent $8.4 million in swing states on television advertisements denouncing a loan guarantee the Department of Energy had made to Solyndra, a manufacturer of solar panels. Solyndra was the first recipient of such a guarantee under the American Recovery and Reinvestment Act of 2009, and the company went bankrupt. [139]
Spinner was born and grew up in North Woodmere, New York.He received his BA from Wesleyan University in 1991, where he majored in economics and classics. At Wesleyan he ran cross country for four years, was elected a member of Phi Beta Kappa and won the school’s Maynard Award as the top scholar-athlete. [3]
Megan McArdle is a senior editor for The Atlantic, where she writes about business and economics. Megan was interviewed by The Motley Fool's Tim Hanson at our 2011 Investing Conference, held in ...
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Solyndra, a California solar panel company declares bankruptcy. Only 2 years earlier, Solyndra had received over $500 million from the federal government as requested by the Obama administration. [254] [255] The United States Department of Justice files a lawsuit in an attempt to stop the $39 billion merger between cell phone giants AT&T and T ...
In May 2010, amid concerns about whether the now-defunct solar-panel company Solyndra was viable, Klain gave the go-ahead for an Obama visit to the factory, and stated in an email to White House advisor Valerie Jarrett that "the reality is that if POTUS visited 10 such places over the next 10 months, probably a few will be belly-up by election ...
Yes, the loans weren't tax payer funds, but tax payers backed those loans, so when solar prices fell (as was projected by literally everyone except Solyndra) and Solyndra folded the tax payer backed program had to pay those loans, and $500 million dollars that would have otherwise been returned to the general fund (where tax moneys are kept ...