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Post by jeffolie on Sept 3, 2011 9:08:44 GMT -6
U.S. must probe $1.7 billion in 2 years solar-tech manufacturing bankruptcy, looks suspicious & wrong to me Most likely over $1.7 Billion came into solar-tech manufacturer Solyndra in Fremont, California in the form of fed loans and venture capital investments since 2009, a mere 2 years; yet, solar-tech manufacturer Solyndra went bankrupt quickly. In business, this 'burn rate' looks like fraud, corruption or a criminal act such as embezzlement. A gambler going to the tables in Las Vegas would have a hard time losing $1.7 Billion in 2 years all by himself. Are there more 'solar-tech manufacturer Solyndra $1.7 Billion' bankruptcies coming? Why? ============================================== U.S. must probe solar-tech failure The abrupt closure of solar-tech manufacturer Solyndra in Fremont is terrible for the 1,100 workers who lost their jobs and for California, which needs a thriving green-tech economy to climb out of this economic morass. It was a bad day, too, for the Obama administration, which awarded the company a controversial $535 million loan guarantee in 2009. It's a reminder of the steep climb U.S. companies face in competing with heavily-subsidized competitors in China and elsewhere. The main reason Solyndra collapsed was its failure to adjust to the rapidly dropping price of solar panels, driven by China's massive investment in the industry and the falling price of silicon on which other manufacturers rely. The company's bankruptcy raises questions about whether the government was monitoring the company's performance. Warning signs appeared soon after the guarantee was announced, and a San Jose Mercury News story in January quoted one analyst saying, "Solyndra is a disaster waiting to happen." In the spring, auditors worried that it couldn't remain a "going concern." Assuming the Energy Department, which approved the loan, was aware of all this, the public needs to know what steps it took to minimize taxpayer exposure to losses. Venture capital companies that put $1.1 billion into Solyndra face similar questions from their investors. Investigators are also asking whether the loan was expedited without proper vetting, at least in part because a key Solyndra investor, George Kaiser, is an Obama fund-raiser. The administration must fully answer these questions. Private companies that fund research and development don't expect every investment to result in a marketable product. They do expect that their overall R&D investment will bolster the bottom line over the long term. That's how the government's clean-energy investments should be judged - on whether, over the long term, they create jobs and an environment for private industry to thrive. It will be years before that score can be tallied, but the solar industry is doing well overall. Mike Mielke of the Silicon Valley Leadership Group told the Mercury News Wednesday that it grew more than 100 percent last year; dozens of new projects go on line in California every week. It will be important for Americans to understand why the energy department put so much faith in Solyndra. But one company's failure doesn't change the government's role in ensuring that America can compete in an intense, global race for clean-energy jobs. The alternative - leaving this industry to China, Germany and others - would be a calamity for American workers. www.presstelegram.com/opinions/ci_18807875
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Post by graybeard on Sept 3, 2011 10:23:33 GMT -6
Evergreen Solar of Mass., after taking govt handouts, recently moved mfg to Commie China.
GB
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Post by jeffolie on Sept 8, 2011 10:15:09 GMT -6
Re: U.S. must probe $1.7 billion in 2 yrs solar-tech bankruptcy, looks suspicious & wrong to meI hope any wrong doing results in punishment. ============================================ US agents search California solar firm FREMONT, California (AP) — FBI agents executed search warrants on Thursday at the headquarters of California solar firm Solyndra, which received a $535 million loan from the federal government before filing for bankruptcy last week. Agents executed multiple search warrants at the company's headquarters in Fremont as part of an investigation with the Department of Energy's Office of Inspector General, according to FBI spokesman Peter Lee. Lee said he could not provide details about the investigation. Solyndra is a solar-panel manufacturer once touted by President Barack Obama as a beneficiary of his administration's economic policies. It announced last week that it was laying off 1,100 workers and filing for bankruptcy. The company was held up as the model for government investment in green technology. In addition to the $535 million loan guarantee, it received visits from the president and other state and federal officials. It filed bankruptcy amid hard times in the nation's solar industry. The price for solar panels has tanked, in part because of heavy competition from Chinese companies, dropping by about 42 percent this year. Republicans have been looking into the Solyndra loan for months. The House Energy and Commerce Committee subpoenaed documents relating to the loan from the White House Office of Management and Budget. The company is also being sued by workers who were abruptly laid off after last week's announcement. news.yahoo.com/us-agents-search-california-solar-firm-155505127.html
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Post by graybeard on Sept 8, 2011 10:56:55 GMT -6
A friend of a friend works for an electrical contractor who installed solar panels on Solyndra's own roof. Somehow, they were paid for work done. We kill off our manufacturing with illegal foreign competition, then expect green jobs to succeed? Yeh, onesy-twosey jobs installing Communist Chinese panels and converters. Obama's green jobs sermon is just like Bu$h's "re-education" sermon. GB
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Post by jeffolie on Sept 8, 2011 13:02:36 GMT -6
Obama's White House may have illegal campaign contributions and/or cover up still ongoinglooks suspicious & wrong to me======================================= "... Solyndra officials and investors made no fewer than 20 trips to the West Wing. In the week before the administration awarded Solyndra with the first-ever alternative energy loan guarantee on March 20, four separate visits were logged. George Kaiser, who has in the past been labeled a major Solyndra investor as well as a Obama donor, made three visits to the White House on March 12, 2009, and one on March 13. Kaiser has denied any direct involvement in the Solyndra deal and through a statement from his foundation said he “did not participate in any discussions with the U.S. government regarding the loan.” But the countless meetings at the White House seem hardly coincidental. Kaiser, in fact, is responsible for 16 of the 20 meetings that showed up on the White House logs. In the meetings on March 12, Kaiser met with former Chairman of the Council of Economic Advisors Austan Goolsbee at 11 a.m., Senior Advisor Pete Rouse at 3 p.m., and Deputy Director of the Domestic Policy Council Heather Higginbottom at 6:30 p.m. On the 13th, Kaiser met with Deputy Director of the National Economic Council Jason Furman at 9 a.m. Other Solyndra officials that made the trek over to the White House include Chairman and Founder Christian Gronet on September 22, 2009, at 9:30 a.m.; and Board Members Thomas Baruch and David Prend. Baruch went to the White House May 7, 2010, and September 20, 2010, at 8:40 a.m. and 1 p.m., respectively. Prend visited on September 21, 2010, at 9:15 p.m. The visitor logs also show that a number of members of the administration though a loan guarantee for Solyndra was pressing enough to take meetings. Former Chief of Staff Rahm Emmanuel and Adviser Valerie Jarrett even took meetings with Kaiser. As TheDC previously reported, Solyndra officials, including Kaiser himself, donated hundreds of thousands of dollars to Barack Obama. Kaiser personally donated $53,500 to Obama’s presidential campaign in 2008. Ben Bierman, executive vice president of operations donated $5,500 to Obama, and Karen Alter, senior vice president of marketing gave $23,000, just to name a few. In 2009, Solyndra secured a $535 million loan guarantee from the U.S. Treasury to produce solar panels. But on August 31, 2011, the company shut its doors and announced its intent to file for bankruptcy. The revelation came after President Obama visited the plant in May 2010 and touted it as a shining light for the future of green jobs and a green-energy economy. “The promise of clean energy isn’t just an article of faith — not anymore,” Obama said at the time. “The future is here.” The future was bankruptcy. dailycaller.com/2011/09/08/solyndra-officials-made-numerous-trips-to-the-white-house-logs-show/
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Post by jeffolie on Sept 8, 2011 13:55:50 GMT -6
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Post by jeffolie on Sept 10, 2011 14:59:57 GMT -6
Obama talked with the primary winner in the bankruptcy: George Kaiser, an Obama donor. Republicans may have campaign material to attack Obama or even impeachment material. "....George Kaiser, who has in the past been labeled a major Solyndra investor as well as a Obama donor, made three visits to the White House on March 12, 2009, and one on March 13. Kaiser has denied any direct involvement in the Solyndra deal and through a statement from his foundation said he “did not participate in any discussions with the U.S. government regarding the loan.” dailycaller.com/2011/09/08/solyn ... logs-show/ [below] "... owning a company that lists $850mm in assets for less than $100mm ..." ====================================================== Saturday, September 10, 2011 More on Solyndra – The next move In any Chapter 11 filing the senior lenders have preference. This means that if there are any liquidation proceeds Senior Creditors get their money back first. It is important to note that those same senior lenders have significant influence regarding how the company’s assets are disposed of. In the case of Solyndra, the senior lender is also the largest equity owner, Argonaut Ventures, an investment vehicle controlled by George Kaiser. Argonaut got the preferential position when it agreed to make a $75mm term loan to Solyndra back in February of 2011. Note: DOE representatives participated in the structuring of the Argonaut term loan. The DOE specifically granted the preferred position. Six months ago the good folks at the DOE had to have known that Solyndra was a sinking ship. If we later hear that either the DOE or the President were shocked and surprised that Solyndra went into the tank, then we know they are lying. In the layer cake of creditors the highest tier is the DIP (Debtor in Possession). This loan is only granted after a chapter filing. It is approved by the court and as a result stands first in line. The DIP lender has significant sway in the timing and the manner of assets sales. Not surprisingly, the proposed provider of the DIP is Argonaut. (The deal calls for a 15% rate and an $80,000 front end fee. Not bad for a four-week loan) This means that Argonaut is in control two ways, the senior loan and the DIP. They have both a belt and suspenders, they are wearing the pants in this deal and their pants are not going to fall down. The Debtor has filed a plan with the court. The CFO, W.G. Stover Jr, has filed this petition. This document is the company’s plan for what should happen next. Note: Solyndra is being advised in these matters by the cream of the crop, Gibson Dunn and Crucher. GDC is a very high dollar firm. They typically represent private money interests. I would have expected GDC to represent Argonaut. The fact that they are representing Solyndra is another question mark in this questionable deal. The plan put forward is a four-week sale of the company. The logic behind this very rapid schedule is that Solyndra is still burning cash at the rate of $1mm a week. How long will the $4mm DIP financing last? Four weeks. The terms of the DIP makes it a sure thing that Solyndra is going to be sold ASAP. That sounds good. But not for the DOE. The one-month period is a very short time frame. The likely result will be that no serious alternative buyer will appear. Should that happen, the senior creditor will get all of the assets of the company at the end of 30 days. That would be Argonaut. It's possible that Argonaut will end up owning a company that lists $850mm in assets for less than $100mm. A bankruptcy attorney who is knowledgeable about the Solyndra case has contacted me. I thought I’d share his thoughts with you. His words describe the situation much better than I: Two things that jump out at me from the Affidavit - the Tranche A lenders (Argonaut) are offering to be the DIP lender. The terms contained in the DIP agreement usually are the vehicle by which assets are stolen via seemingly innocuous terms that when taken as a whole, serve to control the bk process. The secured lender will seek to bid for the assets via a credit bid, where they don't have to put new money on the table - their existing secured loan becomes their bid. The second item that pops out is the dual track marketing - where they will market Solyndra as a whole and as pieces. The affidavit talks about a 4 week marketing runway - that's crazy short even for a podunk company with 1/10th the size. No one can do Due Diligence in 4 weeks. It leaves the DIP lender in a great spot. The company will claim they don't have the cash to survive a longer marketing runway, and then they will throw their hands up 4 weeks later and say that the horrible deal on the table is the best and only option (and usually for good measure they throw in that it will preserve jobs, they always throw that in) - and at that point the shitty contrived deal is the only option. Judge bangs his gavel down and the deal is done, and all legit, sanctioned by the bk process itself - everyone was given an opportunity to object in court, provided you can afford 700 dollar an hour bk attys. Okay, after all of that you have to conclude that Argonaut stinks in this. They are sitting in the catbird seat with the preferential position. They have the courts (and the lawyers) on their side. What possible option could the US Government have to stop this from happening? That’s easy. All they have to do is accuse the existing management of fraud. No BK judge would accept the petition of a former corporate officer regarding the disposition of company assets if that same officer was under the cloud of fraud charges. I think this must be the reason that both the company’s headquarters and senior officers homes (including the CFO) have been raided by the FBI. There is a clue in the affidavit submitted to the court: “In Early August, Solyndra, certain holders of Tranche A Debt, and representatives of the DOE undertook negotiations regarding further restructuring that would allow Solyndra to attract necessary new investment. The negotiations over the terms of the further restructuring continued throughout August 2011." It's simply not possible for the folks at DOE who were part of these meeting to not have realized that Solyndra was headed for the garbage can. They had to be lawyers. They are not stupid. There had to have been memos and phone calls back to the DOE and ultimately with the President during August on the failing status of the company. If during that month they had any suspicions of wrongdoing or fraud by the company’s officers they would have alerted DOJ and the FBI raids would have happened before the company filed a bankruptcy petition. The business about raiding homes is just a smoke screen. In the next week the Court will rule on the proposal for a four week sale and the $4mm Argonaut DIP. If that plan is approved, what is left of Solyndra will go to Argonaut and the US DOE will suffer a loss of 100% of its $528mm loan. As part of this process DOE will file a brief. That brief has to be a smoking gun that forces the judge to deny the company’s/Argonauts plan. That brief HAS to have some teeth in it. The only teeth that has merit is that the people who ran the company were crooks and lied to the DOE. The problem with that contention is that there is so much evidence to the contrary. It should be interesting to see what the DOE has to say. It will be very interesting to see how the judge rules. I’ll be watching/writing. brucekrasting.blogspot.com/2011/09/more-on-solyndra-next-move.html
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Post by jeffolie on Sept 14, 2011 10:19:38 GMT -6
IMHO Obama's staff actions will create Republicans in the House to call for IMPEACHMENT and provide campaign material. Legally, taking actions moves beyond politics into criminal charges Pressing for the loan while taking campaign contributions is taking actions ... emails, callsObama aided and promoted loan fraud... ====================================== Solyndra loan: White House pressed on review of solar company now under investigation Rep. Henry A. Waxman (Calif.) and Rep. Diana DeGette (Colo.) — Democrats on the committee who had once defended the choice of Solyndra — last week also questioned whether they had been misled. In a letter, they wrote that Solyndra chief executive Brian Harrison “did not convey to us the perilous condition of the company, and the Committee should know why. ” www.washingtonpost.com/politics/white-house-pushed-500-million-loan-to-solar-company-now-under-investigation/2011/09/13/gIQAr3WbQK_print.html
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Post by jeffolie on Sept 16, 2011 9:39:36 GMT -6
Worse ... Obama's Admin VERY RECENT bad act: Dem donor comes first, not taxpayers After the recent bankruptcy, Obama's Admin acted recently to make sure Dem donor Kaiser gets top dog priority in the money coming out of the bankruptcyRepublicans will have a field day, holiday, demand a Special Prosecutor ... some will demand impeachment ====================================== ".... In February 2011, Solyndra renegotiated with creditors, including the United States Government, in order to try to avoid bankruptcy. In that deal, an investment group funded by Obama donor George Kaiser, gave Solyndra $75 million in additional money in the form of debt on the condition that the US Government took a subordinated position in any bankruptcy after the first $150 million was returned to the government. What that means is that in a liquidation of Solyndra, the administration will allow that the first $150 million goes to the government, the next $75 million goes to Kaiser's fund. That would leave the government with a balance of $377 million outstanding unless a liquidation fetches more than $225 million. In that case, the Kaiser investor group would likely control the amount of money that is eventually paid out to the government and other creditors and shareholders. This is a technique, known as a "cram down," that is often used by investors looking to gain control of a troubled company at the expense of other investors. Democrat Senator Michael Bennet from Colorado used the same tactics to take control and combine three ailing movie theater groups in 2002. Bennet bought the senior debt of the companies while they were going down the tubes. This in turn allowed him to cut out other investors as the companies liquidated. Teachers' pension funds and other investors were forced to take pennies on the dollar for their investment because the Bennet group owned the senior position. Within two years Bennet's group paid themselves back every penny they spent on the investment, gave Bennet $11 million, took on another billion dollars in debt, while public investors saw the price of the stock tank from $24 to $12 currently. finance.townhall.com/columnists/johnransom/2011/09/16/congress_likely_to_cram_down_solyndra_billionaire
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Post by jeffolie on Sept 17, 2011 9:29:35 GMT -6
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Post by jeffolie on Oct 6, 2011 9:21:04 GMT -6
"... Obama administration’s Energy Department was poised to give Solyndra a second taxpayer loan of $469 million last year, even as the company’s financial situation grew increasingly dire ... " =============================================== E-mails show Energy Department was moving toward second loan for Solyndra October 5 Newly released e-mails show the Obama administration’s Energy Department was poised to give Solyndra a second taxpayer loan of $469 million last year, even as the company’s financial situation grew increasingly dire. The department was still considering providing the second loan guarantee to the solar-panel manufacturer in April and May 2010, at a time when Solyndra’s auditors were already warning that the company was in danger of collapsing. Details of the plan are revealed in e-mails released this week by Democrats on the House Energy and Commerce Committee, which is investigating the original loan. On Wednesday, the probe intensified as committee Republicans requested that the White House provide all documents, dating back to President Obama’s inauguration, that would show communications between staff members and other officials regarding Solyndra’s original $535 million federal loan guarantee. Republican leaders said that documents obtained in recent weeks show that Obama’s “closest confidantes” monitored the loan, and that his campaign donors offered advice on the company. “Documents reveal a startlingly cozy relationship between wealthy donors and the president’s confidantes, especially in matters related to Solyndra,” Cliff Stearns (R-Fla.), chairman of the committee’s investigations panel, said in a statement. E-mails already made public in the eight-month investigation have kept the White House and the Energy Department on the defensive for weeks, showing in part that Valerie Jarrett and Lawrence H. Summers, top Obama advisers at the time, took part in discussions about Solyndra. The Energy Department provided Solyndra with its first taxpayer-backed loan guarantee in September 2009. Documents released this week show that White House career staffers, who first questioned the loan that fall, by April 2010 were using gallows humor to describe the prospect of giving Solyndra a second round of help. That spring, industry analysts were publicly questioning how the Silicon Valley start-up could be spending cash so quickly from the federal loan and $933 million in private capital. “Apparently the loan size for Phase II is $469 million,” one analyst at the Office of Management and Budget wrote. “I’ve been told we should expect [to] see that project soon for conditional commitment.” Another joked: “Possible to close and default on one before closing on a second??? Could be a new record.” The agency didn’t drop plans for a second loan until October 2010, an Energy Department spokesman has confirmed. That was the month Solyndra executives and investors first warned the government that the company faced the threat of liquidation without emergency cash. Energy Department spokesman Damien LaVera said Wednesday that OMB staffers were wrong in describing the agency as actively pushing to provide the second loan. “In fact, the career staff at the department had only barely begun to do the due diligence that would have been required for a second loan,” LaVera said. “This application would have had to undergo many more months of analysis before being approved,” but that was rendered moot when the company reported severe financial problems. www.washingtonpost.com/politics/solyndra-e-mails-dept-of-energy-was-poised-to-approve-469-million-for-firm/2011/10/05/gIQA0IvgNL_story.html?hpid=z2
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Post by jeffolie on Oct 6, 2011 16:21:17 GMT -6
IMHO this resignation is insignificant. Futhermore, the guy already indicated he was going to quit soon anyways. Of potential interest is this guys potential conflict of interest or potential financial gain: "... Before joining the federal government, Silver co-founded and served as managing director of Core Capital Partners, a venture capital firm specializing in alternative energy technology, advanced manufacturing, telecommunications and software. His last day at the Energy Department will be Friday ... " =========================================== Head of Energy Department loan program steps down amid Solyndra controversy October 6, The head of the Energy Department’s controversial loan guarantee program has decided to step down, department officials confirmed to The Washington Post on Thursday. Jonathan Silver, who was named executive director of DOE’s Loan Programs Office in November 2009, has come under fire from congressional Republicans since the solar manufacturer Solyndra declared bankruptcy Aug. 31 after receiving a $535 million federal loan guarantee. While DOE made the initial loan to Solyndra before Silver took the program’s helm - a point he made repeatedly during his congressional testimony last month — he remained the administration’s point person for the embattled initiative. Energy Secretary Steven Chu said in a statement Thursday that Silver had informed him in July, when it was clear that no significant new funds were being budgeted for the loan program, that he would leave at the end of the fiscal year. The program’s authorization expired Friday: On its last day the agency committed an additional $4.7 billion in loan guarantees to support four major clean-technology projects across the country. “Because of my absolute confidence in Jonathan and the outstanding work he has done, I would welcome his continued service at the Department, but I completely understand the decision he has made,” Chu said. Chu made a point of defending the agency’s loan guarantee operation, saying, “Under his leadership, the loan program has demonstrated considerable success, with a broad portfolio of investments that will help American companies compete in the global clean energy market.” Under Silver’s leadership, the program grew to be the largest project finance effort in the United States. He headed both a $35.9 billion dollar investment program in alternative energy and a $20 billion investment program in advanced automotive technology. The House Energy and Commerce Oversight Subcommittee is investigating a range of issues surrounding the federal government’s loan guarantee to Solyndra, including the fact that DOE officials learned the company was violating its loan deal and subsequently changed the loan terms so that it could continue receiving taxpayer funds. In a hearing last month. the subcommittee’s chairman Cliff Stearns (R-Fla.) grilled Silver on whether DOE officials had been more skeptical about backing a loan for Solyndra under the Bush administration. After reading an e-mail exchange from that period, Stearns asked, “Do you understand that the Bush administration essentially decided that the due diligence was not complete at this point?” “No, Mr. Chairman, in fact the credit committee which you are referring to is, as I said, made up of a group of career professionals, is also exactly the same group of career professionals . . .” Silver replied, before Stearns cut him off. “Oh I understand that, but the point is, what I just quoted to you is the truth, isn’t that correct, that that quote is accurate?” “I haven’t seen that e-mail, sir. I wasn’t there,” Silver responded. “Well you can be assured it is,” the congressman said. “And the DOE should quit talking with Solyndra, that was the recommendation.” The day after the hearing, Stearns called for Silver to be fired. Before joining the federal government, Silver co-founded and served as managing director of Core Capital Partners, a venture capital firm specializing in alternative energy technology, advanced manufacturing, telecommunications and software. His last day at the Energy Department will be Friday www.washingtonpost.com/national/health-science/jonathan-silver-head-of-doe-loan-guarantee-program-to-step-down/2011/10/06/gIQAzQmlQL_story.html
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Post by jeffolie on Nov 9, 2011 13:51:04 GMT -6
Obama lies proved wrong by emails Obama & Biden show "high crimes and misdemeanors" plus Biden's Staff 'About Had an Orgasm' ============================== Solyndra Emails Claim Biden's Staff 'About Had an Orgasm' About Energy Loans to Firm November 09, 2011 In this May 26, 2010, file photo, President Obama and Solyndra Chief Executive Officer Chris Gronet look at a solar panel during a tour of Solyndra, Inc. A series of emails provided to the House Energy and Commerce Committee from individuals tied to Solyndra offer striking characterizations about running strategy with the White House to secure assistance for the now-bankrupt solar energy firm. Emails among George Kaiser, head of the George Kaiser Family Foundation; Ken Levit, the executive director of the Foundation; and Steve Mitchell, who manages Argonaut Private Equity and was a member of Solyndra's board; show that Vice President Joe Biden's office were very gung-ho. "They about had an orgasm in Biden's office when we mentioned Solyndra," reads a Feb. 27, 2010, email from Levit to Mitchell. A follow-up email from Mitchell to Levit later that day responds with: "That's awesome! Get us a (Department of Energy) loan." According to exchanges obtained by Fox News, in an email from Mitchell to Kaiser on March 5, 2010, Mitchell writes that "it appears things are headed in the right direction and (Energy Secretary Steven) Chu is apparently staying involved in Solyndra's application and continues to talk up the company as a success story." In a Feb. 27, 2010, message from Levit to a party whose name has been redacted, Levit writes that there was a meeting with a group of people in "Biden's office -- they seemed to love our Brady Project -- also all big fans of Solyndra." One email from Kaiser to Mitchell and Levit on Oct. 6, 2010, reads: "We can possibly reinforce the effort so long as it is in the form of 'I thought you should know, in case it comes up' rather than 'can you help with this.'" In another communique dated Oct. 6, 2010, Kaiser tells Mitchell and Levit that he is "concerned that DOE/Chu would resent the intervention and your problem could get more difficult. I would see an appeal as only as last resort an, even then, questionable. We need to discuss." Solyndra received a half billion dollars in loans from the Department of Energy even as questions were raised over whether the California-based firm would stay afloat. The company filed for bankruptcy in September even just weeks after the administration weighed a bailout. Now House Republicans want to know how much influence the White House put on the Energy Department to approve the loans. Energy officials deny any influence affected the decision. A well-placed source told Fox News that Kaiser was interviewed by investigators for the House Energy and Commerce Committee on Tuesday. In an email between Mitchell and Kaiser, Mitchell notes that the White House has "started a policy discussion as to whether a company should be able to get a second loan." Another message from Kaiser to Mitchell on March 5, 2010 says that Solyndra "came up"during a meeting with White House officials about the stimulus law. "Every one of them responded spontaneously about their thorough knowledge of the Solyndra story, suggesting it was one of their prime poster children.” In an email from Mitchell to Kaiser on March 5, 2010, Mitchell writes that "it appears things are headed in the right direction and Chu is apparently staying involved in Solyndra's application and continues to talk up the company as a success story. In a letter to White House Counsel Kathryn Ruemmler regarding their panel's recent subpoenas relating to Solyndra, Energy and Commerce Committee Chairman Fred Upton, R-Mich., and Oversight and Investigations Subcommittee Rep. Cliff Stearns, R-Fla., the two note the seeming inconsistency in White House responses. "The White House has repeatedly stated that no political influence was brought to bear with regard to Solyndra, and that Mr. George Kaiser, a Solyndra investor and Obama fundraiser, never discussed Solyndra during any of his 17 visits to the White House. Documents recently obtained by the committee directly contradict those statements," they wrote. www.foxnews.com/politics/2011/11/09/solyndra-emails-claim-bidens-staff-about-had-orgasm-about-energy-loans-to-firm/
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Post by graybeard on Nov 9, 2011 14:18:29 GMT -6
How many celfones and emails has Faux hacked to get their info?
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Post by jeffolie on Nov 10, 2011 1:24:47 GMT -6
[from Associated Press not Fox News] Obama proven liar ... protects oil Billionaire that arranged donations to Obama====================== Obama donor discussed solar loan with White House..."... Rep. Cliff Stearns, R-Fla., who heads a subcommittee that is investigating the Solyndra loan, said the emails contradict White House claims that Kaiser did not actively lobby White House officials on Solyndra. "It is clear from these documents that Kaiser and his employees enjoyed ready access to the West Wing of the White House and exercised influence throughout the loan process,"... contradict repeated assurances by the Obama administration that the donor, George Kaiser, never talked about Solyndra Inc. with the White House. Solyndra's name came up at a White House meeting with Kaiser last year at a time when the California company was seeking a second federal loan, after it had already received a $528 million loan in 2009, the emails show. ... Kaiser, an Oklahoma billionaire, was a "bundler" for Obama's 2008 campaign, raising between $50,000 and $100,000 for the president, records show. He also was a frequent White House visitor in 2009 and 2010. White House officials for months have denied that Kaiser talked about Solyndra during those visits. news.yahoo.com/obama-donor-discussed-solar-loan-white-house-193256632.html
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Post by graybeard on Nov 10, 2011 7:52:00 GMT -6
I saw on tv yesterday that oil subsidies still far outweigh alternatives. It was on "Gashole" on FSTV, Free Speech TV. It appears to be a documentary, so may be available on Neftlix.
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