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Senior Contributor

Re: NASA cuts

  Whose administration approved Solyndra's loan and tried to make the disbursement before that person left office?????????

Highlighted
Senior Contributor

Re: put em on welfare

have you ever seen a gov worker produce anything but another gen of gov workers

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Senior Advisor

Re: NASA cuts


@tomtoolbag wrote:

  Whose administration approved Solyndra's loan and tried to make the disbursement before that person left office?????????



Bush administration turn them down. Said it was too risky.

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Advisor

Re: NASA cuts

Highlighted
Senior Advisor

Re: NASA cuts

January 2009: In an effort to show it has done something to support renewable energy, the Bush administration tries to take Solyndra before a DOE credit review committee just one day before President Obama is inaugurated. The committee, consisting of career civil servants with financial expertise, remands the loan back to DOE because it wasn’t ready for conditional commitment.
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Senior Contributor

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Highlighted
Veteran Advisor

Re: NASA cuts

You are changing the subject.  You said that it would be like the GOP to sell things for pennies on the dollar, and I pointed out that Solyndra had a sale, where that very thing happened, in the current administration.  I'm not trying to blame one party or the other for doing odd things.  When it comes to griping about dumb things the government does, I'm totally equal opportunity.

Highlighted
Senior Contributor

Re: NASA cuts

  LOL, who changed the subject???? FYI, i never mentioned any sale of anything.

 

  And just what did Solyndra supposedly sell by the way?

Highlighted
Advisor

Re: NASA cuts

  Well that's cool, sort of anyway, not addressing the fact government is not needed to have reached this point, there is an established business and personnel existing the entire industry be needs to be released to a free market?   The industry is large and is quite capable of working on it's own without the 'benefit of centralized government.   The communication enterprises certainly are capable of generating a prosperous economic engine; Like agriculture/food production.  It is the momentum of change and opportunity going forward,

 

  The satellite technology is changing international relations allowing peoples of the world interact with out the interference of government.  People around the world are able to discuss, form opinions and act together through the ability to communicate without regulation to police abuses of government.  Natural competition to provide goods and services will continue to finance research and educational investments and combined with mans romantic and inquisitive nature will most likely developed the technology for deep space  exploration and perhaps direct communication with other worlds in a few thousand years.  I believe the existence of 'The Enterprise' patrolling the galaxy 'Wild West' fashion should never happen.

Highlighted
Veteran Advisor

Re: NASA cuts

My apologies.  It was Bruce who said this, and for some reason I thought it was him replying back, and not you.  Sorry about that.

 

(here is a snippet of what Bruce said, that I was replying to ---  Now, of course, if the GOP were to take over the Senate it would most likely get sold out the back door for 10-15 cents on the dollar  )

 

 

As to the asset sales of Solyndra:

 

http://www.washingtontimes.com/news/2012/feb/8/solyndra-sold-assets-cheap-for-fast-cash/

 

 

Fast running out of money, solar-panel maker Solyndra LLC last summer sold off nearly $60 million worth of inventory for less than $20 million in cash to a newly formed corporate entity closely tied to the company’s biggest investors, records show.

Backed by $535 million in federal loan guarantees but burning through the little cash it had left, Solyndra made its first sale in late July to a corporate entity that had been formed just a day earlier. Three more transactions followed over the next few weeks with the same buyer, Solyndra Solar II.

By the time the last sale took place on Aug. 29 — two days before the company announced plans to file for bankruptcy — Solyndra had sold off a total of $58.1 million worth of inventory for $17.5 million, according to documents Solyndra attorneys filed last month in U.S. Bankruptcy Court in Delaware.   

 

-snip-

 

 

Todd Zywicki, bankruptcy professor at the George Mason University School of Law, said it’s not unusual for troubled companies to sell off assets to improve liquidity. But he said the inventory sales figure cited by Solyndra — $58.1 million in inventory for $17.5 million in cash — seems unusual.

“The test under the bankruptcy code is whether the sale was for reasonably equivalent value and selling inventory at such a huge discount raises real concerns,” he said. “If Solyndra Solar II is owned or controlled by any insiders or anything like that, then it becomes even more suspicious.”

 

 

There are also reports of this sort of thing happening:

 

http://sanfrancisco.cbslocal.com/2012/01/19/bankrupt-solyndra-caught-destroying-brand-new-parts/

 

 

FREMONT (CBS 5) — After filing for bankruptcy last year, Fremont solar company Solyndra still owes American taxpayers half a billion dollars. But CBS 5 caught them destroying millions of dollars worth of parts.

At Solyndra’s sprawling complex in Fremont, workers in white jumpsuits were unwrapping brand new glass tubes used in solar panels last week. They are the latest, most cutting-edge solar technology, and they are being thrown into dumpsters.

Forklifts brought one pallet after another piled high with the carefully packaged glass. Slowly but surely it all ended up shattered.

And it’s not a few loads. Hundreds of thousands of tubes on shrink-wrapped pallets will meet a similar demise.

Solyndra paid at least $2 million for the specialized glass. A CBS 5 crew found one piece lying in the parking lot. Solyndra still owes the German company that made the tubes close to another $8 million.

 

-snip-

 

 

 

The tubes were never included on the list of Solyndra assets put up for sale at two auctions last year.

If they were, David Lucky told CBS 5 he would have bought them. “We certainly would have bid on them, yes,” Lucky said

Lucky owns several large warehouses near Las Vegas. He buys and then resells manufacturing equipment and components all the time.

“Our company has bought a lot of stuff over the years. Truck loads and warehouses full of inventory that companies were just ready to send to the dump, because they don’t want to take the time to find markets for it,” he said.

 

 

-snip-

 

CBS 5 also called the German company that made the glass tubes to see if they would have wanted the tubes back. After all, they are still owed almost $8 million dollars. A spokesman said he had no idea they were being destroyed