The loan guarantees were from the department of energy. The head of which, is Dr. Steven Chu, who is the man who said we should all paint the roof of our houses white to reflect solar radiation back out of the atmosphere to combat global warming. Guess painting the roof white was a term in the loan guarantee. Voting Democrat probably was too, for all we know.
Doing a deal like that with a government agency is like letting the mafia get into your business. They will take you over from within and dictate everything you do from then on.
500 million dollars would have saved 100 start-ups in 2009. So many new companies with real business and employment prospects had to shut down in that year because of inability to find the few million dollars needed to bridge them thru the crisis - from the CEO of a start-up fortunate to survive 2009
Not necessarily. In most states, wages are given top priority. This means that those employees with employment contracts, including executive management, get their employment contracts paid out in full, and so in effect are at the front of the line.
They claimed it made installation much simpler then using standard flat panels...
I have very hard time understanding how cylindrically-shaped solar panels could be performing as good as flat panel levels, the performance hit must be huge.
If I remember correctly, they were requiring to paint roof white to get some of the sunlight in that way. Pretty crazy stuff.
It boggle the mind that company with no real revenues and totally ridiculous technical ideas could get 1.5 billion dollars! I really do not understand how they managed to do it. Could it be that wishful thinking and support of current administration had something to do with it?
Come on, "we (tech people)" are supposed to be the logical ones who use facts to make decisions and don't jump to conclusions based on opinions. If "we" cannot keep the rhetoric at bay how can we expect the electorate or the government to do so?
I know much of this is "tongue in cheek", but it is sad no matter whether you call our president Obama or Odumba - we all loose. We need to look at this particular situation and see what happened. IF there was a golden parachute than we have to find out how that happened - the board approved it??
I believe the bulk of the loss here is private, and the guarantees will not cover the entire amount, but whatever the situation we need to get the emails and paperwork to find out if the company's development was handled appropriately. IF this turns into a witch hunt THEN condemn it, otherwise it's justifiable.
To complain that they went to the white house cannot be used as an argument against this administration by conservatives as big business has had their hand out and their wallets open as long as there has been a government - unfortunately it's how we do business. That is the bigger argument, and issue that must be addressed.