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Solar Firm That Got DOE Loan To Declare Bankruptcy

Associated Press -- WASHINGTON (AP) — A Colorado-based solar panel maker that received a $400 million loan guarantee from the Obama administration is set to file for bankruptcy, the latest setback for an industry battered by the recession and stiff competition from companies in China.

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Submitted Jun 29, 2012 By: BJ1947

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teafortwo Champion Author Washington Posts:22,106 Points:1,384,910 Joined:Feb 2009	Message Posted: Jul 16, 2012 2:34:09 PM Ignore teafortwo Report Abuse I smell a rat.
KarateDude Champion Author Cincinnati Posts:2,487 Points:836,260 Joined:Mar 2008	Message Posted: Jul 16, 2012 12:12:24 PM Ignore KarateDude Report Abuse Yet more well spendt bailout tax money !!!
honda0105 Champion Author Tallahassee Posts:18,623 Points:1,609,520 Joined:Nov 2008	Message Posted: Jun 30, 2012 9:02:20 PM Ignore honda0105 Report Abuse company #3... don't all things come in threes?
mad_low Rookie Author St. Louis Posts:40 Points:304,740 Joined:Jun 2008	Message Posted: Jun 30, 2012 4:51:19 PM Ignore mad_low Report Abuse Hey, no balls no babies. If we want to beat China we're going to have to take some risks. In the end only $67 mil. was actually spent on this company. Heck my little town spends more than that fixing cracks in the streets. I say queue up the next American innovator with a plausible idea and give him the balance on the $400 mil. This is tiny potatoes in the grand scheme of things. However, the payoff is kicking China’s butt while getting one more step towards energy independence. Can’t tell you how little I care that we ‘wasted’ $67 mil. on a chance at the big tamale. Articles like this are all breathe-into-a-bag with no real crisis.
kgbellman Champion Author Ann Arbor Posts:2,713 Points:731,840 Joined:Mar 2011	Message Posted: Jun 30, 2012 8:51:10 AM Ignore kgbellman Report Abuse Hmm, another one
remay Champion Author Houston Posts:6,963 Points:2,117,390 Joined:May 2006	Message Posted: Jun 30, 2012 8:50:48 AM Ignore remay Report Abuse Another $400M down the drain?
dave27johnson Champion Author Chicago Posts:1,787 Points:408,325 Joined:Feb 2012	Message Posted: Jun 30, 2012 6:21:03 AM Ignore dave27johnson Report Abuse China has been dumping solar panels. Selling below cost isn't a free market.
Go4EVA Sophomore Author Houston Posts:186 Points:66,195 Joined:Aug 2011	Message Posted: Jun 30, 2012 5:45:33 AM Ignore Go4EVA Report Abuse November 6th is our chance to elimnate such waste!!!
FNB1967 Champion Author Ontario Posts:1,832 Points:766,120 Joined:Jan 2011	Message Posted: Jun 30, 2012 5:25:31 AM Ignore FNB1967 Report Abuse Not good news
TXryder Champion Author Texas Posts:2,709 Points:432,730 Joined:Jan 2012	Message Posted: Jun 29, 2012 11:45:20 PM Ignore TXryder Report Abuse ,,,,,allergic reaction
2bigtanks All-Star Author Akron Posts:772 Points:371,610 Joined:Jun 2011	Message Posted: Jun 29, 2012 11:35:40 PM Ignore 2bigtanks Report Abuse November, oh November. PLEASE BE SMART PEOPLE!
sprocketsplines Champion Author Washington Posts:1,682 Points:860,640 Joined:Oct 2010	Message Posted: Jun 29, 2012 11:32:15 PM Ignore sprocketsplines Report Abuse Investors of these companies might have better luck with pinning a tail on a donkey while blind-folded.
vulcan96 Champion Author Ohio Posts:26,916 Points:3,103,675 Joined:Aug 2004	Message Posted: Jun 29, 2012 11:23:22 PM Ignore vulcan96 Report Abuse wow, imagine that......not the "change" we need. vote a little smarter next time....
OilOnTheCheap Champion Author Ventura Posts:2,097 Points:450,160 Joined:Jan 2012	Message Posted: Jun 29, 2012 11:16:20 PM Ignore OilOnTheCheap Report Abuse Not surprised … waiting for November!
BEngr Champion Author Illinois Posts:6,711 Points:1,580,615 Joined:May 2008	Message Posted: Jun 29, 2012 11:12:18 PM Ignore BEngr Report Abuse Say it isn't true, another fine example of the Obama/DOE's ability to pick winners and losers. My tax dollars would have been better spent paying off some of the debt which is real and growing each year.
btex49 Champion Author Austin Posts:2,715 Points:530,105 Joined:Aug 2011	Message Posted: Jun 29, 2012 11:12:15 PM Ignore btex49 Report Abuse Likely that the CEO is a friend and contributor to Mr. Obama.
Prodaddy Champion Author Houston Posts:8,375 Points:1,894,210 Joined:May 2007	Message Posted: Jun 29, 2012 11:06:49 PM Ignore Prodaddy Report Abuse I am not suprised at all
rd2000 Champion Author Florida Posts:3,571 Points:686,995 Joined:Jul 2007	Message Posted: Jun 29, 2012 11:06:07 PM Ignore rd2000 Report Abuse This si not good for clean engery.
hubcapLA Champion Author Louisiana Posts:3,905 Points:940,435 Joined:Apr 2009	Message Posted: Jun 29, 2012 11:03:28 PM Ignore hubcapLA Report Abuse More taxpayer money wasted by Obozo and given to his greenies
unclemattie Veteran Author Atlanta Posts:289 Points:459,155 Joined:Oct 2011	Message Posted: Jun 29, 2012 11:01:03 PM Ignore unclemattie Report Abuse US Congress needs to file some charges!
BWJM Champion Author KW Posts:1,113 Points:303,780 Joined:Oct 2011	Message Posted: Jun 29, 2012 10:56:34 PM Ignore BWJM Report Abuse ok
NOTSOGRN Champion Author Michigan Posts:2,056 Points:1,511,265 Joined:Dec 2007	Message Posted: Jun 29, 2012 10:55:58 PM Ignore NOTSOGRN Report Abuse . . Let some one who knows business invest not some amateur...
Liefhebber Champion Author Chicago Posts:2,352 Points:366,250 Joined:May 2012	Message Posted: Jun 29, 2012 10:51:00 PM Ignore Liefhebber Report Abuse Trying to help clean energy companies is a bad idea?
CheeseMan Champion Author Raleigh Posts:10,740 Points:1,775,000 Joined:Mar 2005	Message Posted: Jun 29, 2012 10:47:27 PM Ignore CheeseMan Report Abuse Good going O'bama. Let's just keep on throwing our money away on BS projects, etc. Can we keep on doing that??? Hey O'bama, the time for you to wave "Bye-Bye" to all the people is getting closer and closer. See you in November!!
jtfftj Champion Author New Hampshire Posts:2,178 Points:1,248,220 Joined:Sep 2005	Message Posted: Jun 29, 2012 10:47:25 PM Ignore jtfftj Report Abuse Over and over again. Same scam, just new victims.
HA4CNN Champion Author Toronto Posts:5,624 Points:1,543,390 Joined:Dec 2006	Message Posted: Jun 29, 2012 10:46:53 PM Ignore HA4CNN Report Abuse Not a very wise move by Government.
Bruno44 Champion Author Texas Posts:7,075 Points:1,768,195 Joined:Sep 2007	Message Posted: Jun 29, 2012 10:42:46 PM Ignore Bruno44 Report Abuse Time to put a stop to this madness.
BobD2009 Champion Author Long Island Posts:6,989 Points:1,239,785 Joined:Apr 2009	Message Posted: Jun 29, 2012 10:42:45 PM Ignore BobD2009 Report Abuse More DOE/Obama scams.
GasholeMI Champion Author Lansing Posts:10,134 Points:1,717,315 Joined:Jul 2008	Message Posted: Jun 29, 2012 10:40:18 PM Ignore GasholeMI Report Abuse Another $400 million tossed away. Can not wait until November.
viperND Champion Author South Bend Posts:3,310 Points:735,940 Joined:Apr 2011	Message Posted: Jun 29, 2012 10:40:02 PM Ignore viperND Report Abuse it happens
cloud23465 Champion Author Virginia Beach Posts:8,304 Points:1,617,050 Joined:Aug 2008	Message Posted: Jun 29, 2012 10:37:19 PM Ignore cloud23465 Report Abuse Well I'm glad to see the Change(money) we put into these companies... FAIL? yeah, that's the word i'm looking for... like this looser as a president.
bvrbill Champion Author Eugene Posts:3,217 Points:518,525 Joined:Jul 2011	Message Posted: Jun 29, 2012 10:37:03 PM Ignore bvrbill Report Abuse No more gov't loans for unstable businesses. I'm sure the execs walked away with a big golden parachute.
Dragnet Champion Author Arizona Posts:15,406 Points:2,908,760 Joined:Jul 2004	Message Posted: Jun 29, 2012 10:36:51 PM Ignore Dragnet Report Abuse It's Obummer, Obummer, Obummer, the killer of America.
CAroadrunner101 Champion Author California Posts:1,827 Points:1,316,175 Joined:Mar 2009	Message Posted: Jun 29, 2012 10:32:55 PM Ignore CAroadrunner101 Report Abuse greed...
SBlouch Champion Author San Antonio Posts:8,730 Points:1,859,265 Joined:Apr 2007	Message Posted: Jun 29, 2012 10:31:03 PM Ignore SBlouch Report Abuse Another money hand out by Obama with OUR tax money has bit the dust. Hope people at the polls remember all the money he gave out to green companies which failed isn't helping the economy. of course, Obama thinks the economy is doing just fine and dandy.
Ron77095 Champion Author Houston Posts:3,060 Points:602,675 Joined:Sep 2011	Message Posted: Jun 29, 2012 10:30:49 PM Ignore Ron77095 Report Abuse What!?
slowpoke63 Champion Author Louisiana Posts:2,737 Points:886,390 Joined:Jul 2009	Message Posted: Jun 29, 2012 10:30:33 PM Ignore slowpoke63 Report Abuse Will Obama be surety for it??
greshams Champion Author Cincinnati Posts:2,005 Points:375,520 Joined:Nov 2011	Message Posted: Jun 29, 2012 10:28:35 PM Ignore greshams Report Abuse again, what is up with this. sounds like a scam
TIGERPAW46 Champion Author Florida Posts:7,126 Points:1,355,680 Joined:Mar 2004	Message Posted: Jun 29, 2012 10:26:39 PM Ignore TIGERPAW46 Report Abuse And China STILL enjoys Favored Trade Status!!! Shakes head in astonishment! Oh that's right they are holding a massive loan for the Bail outs etc. Like the Auto companies that the Government then told to claim Bankruptcy anyway. They could have done that to begin with & not used the Bail out money. [Edited by: TIGERPAW46 at 6/30/2012 1:29:54 AM EST]
krobp46 Champion Author Milwaukee Posts:2,711 Points:541,095 Joined:Sep 2011	Message Posted: Jun 29, 2012 10:25:25 PM Ignore krobp46 Report Abuse So what is Obama batting now?
roadrunnerMO Champion Author Kansas Posts:8,406 Points:1,699,465 Joined:Jul 2008	Message Posted: Jun 29, 2012 10:23:32 PM Ignore roadrunnerMO Report Abuse Sure another one. Their bosses were all political appointees and friends of the obama government family. Vote OBOZO OUT IN NOVEMBER and there will likely be no more of this crap. Of course Pelosi brother in law is running another one in Nevada that Harry Reid approved monies for. It will be drained of monies by their corporate headquarters leader.
TIGERPAW46 Champion Author Florida Posts:7,126 Points:1,355,680 Joined:Mar 2004	Message Posted: Jun 29, 2012 10:22:44 PM Ignore TIGERPAW46 Report Abuse What's another $400 million dollars among good ol Boys. Just more friends & donors to the current Administration. Yet He & his cohorts may still get re-elected. Sad that so many can't see the forest for the trees. Stupid investments are still stupid even if they weren't deliberate fraud. [Edited by: TIGERPAW46 at 6/30/2012 1:24:57 AM EST]
thirstyauto Champion Author Milwaukee Posts:14,712 Points:1,618,895 Joined:Nov 2008	Message Posted: Jun 29, 2012 10:22:44 PM Ignore thirstyauto Report Abuse Par for the course
GAS1251 Champion Author Texas Posts:5,148 Points:1,626,230 Joined:Jun 2008	Message Posted: Jun 29, 2012 10:22:31 PM Ignore GAS1251 Report Abuse The $70 million should have been split between the workers being laid off.
ican2step Champion Author Pittsburgh Posts:1,681 Points:426,650 Joined:Feb 2012	Message Posted: Jun 29, 2012 10:21:09 PM Ignore ican2step Report Abuse All but one of FDR's new deal still exist. Government spending DOES NOT equal GNP or economic growth.
AuburnTim Champion Author Indiana Posts:6,828 Points:1,559,190 Joined:May 2005	Message Posted: Jun 29, 2012 10:20:39 PM Ignore AuburnTim Report Abuse k
dlzastera Champion Author Minnesota Posts:4,510 Points:1,023,345 Joined:Mar 2006	Message Posted: Jun 29, 2012 10:20:38 PM Ignore dlzastera Report Abuse Hey people..... remember this shit in November....
GigHarborHound Champion Author Tacoma Posts:2,532 Points:487,515 Joined:Sep 2011	Message Posted: Jun 29, 2012 10:19:24 PM Ignore GigHarborHound Report Abuse Not another one????
SteelPenny Champion Author Dallas Posts:30,960 Points:2,607,490 Joined:Sep 2005	Message Posted: Jun 29, 2012 10:18:13 PM Ignore SteelPenny Report Abuse It figures. Another Zero'BOY 'investment' (with our money goes down the crapper right after his cronies have sucked all the momey out of it/us.
PetroScopper Champion Author Houston Posts:6,622 Points:1,549,975 Joined:Aug 2008	Message Posted: Jun 29, 2012 10:16:27 PM Ignore PetroScopper Report Abuse There is always going to be risks when a new company goes online. Therefore, there will be companies who may not make it.