From Vent Page XX Sarkazein said..."Some solar company that got $535,000,000 of our tax money has suspended operations and is declaring bankruptcy. Obama, in all of his glorious business world experience, bragged about them in a speech last year." Thanks Sark....
A Quick Google on Solar Companies going bankrupt....Articles referenced include those
From Daily Caller, NPR, and Nextbigfuture.com,
"Green jobs are about government subsidies, cronyism, and job cannibalism. They aren’t self-sustaining because they rely on giveaways of taxpayer money and they cannibalize existing jobs.
As Aaron Glantz recently wrote in The New York Times, “federal and state efforts to stimulate creation of green jobs have largely failed” and Obama’s goal of creating 5 million new green jobs within 10 years is a “pipe dream.”
Many others have known this for quite some time.
The Washington Times reported almost a year ago: “After months of hype about the potential for green energy to stimulate job growth and lead the economy out of a recession, the results turned out to be disappointing, if not dismal.”
ABC News found that 80% of the $2 billion set aside in the “stimulus” package for “green jobs” is going overseas — mostly to China.
Too many green jobs and renewable energy companies can’t make it without taxpayer subsidies. Some can’t make it even with that help, such as Evergreen Solar in Massachusetts, which went bankrupt even with $40 million of help. (It was offered even more.)"
BOSTON — Evergreen Solar Inc., the once-promising company that took tens of millions of dollars in incentives from state government, is bankrupt.
The Marlborough company is filing for Chapter 11 and plans to cut 65 jobs in Europe and Massachusetts, on top of the 800 it eliminated earlier this year by closing its plant in Devens.
Solyndra Inc
OBAMA MAY 26, 2010: It's here that companies like Solyndra are leading the way toward a brighter and more prosperous future.
SOLYNDRA INC
It was considered the great hope of the solar industry and a poster child for the government’s efforts to remake the U.S. economy with clean-tech as a linchpin. Now, after about $1 billion invested by venture capitalists, Solyndra Inc. has gone bust. The Fremont, Calif., company, which received a $535 million federal loan guarantee in 2009 in addition to its massive venture capital support. They will lay off 1,100 full-time and temporary employees."
8 comments:
If you are going to start a business and find that the market place won't support it and you need to rely on the government subsidizing you....then you don't have a "business". You are merely the recipient of government welfare and, unless you find a way to support yourself, the welfare will EVENTUALLY run out.
Give me $535,000,000 and I could start an oil company that would support generations of Sarkaziens.
The solar company had to be a scam from the start.
New Guy, did you use the Broyhill Inn as a temple for your very astute post?
It operated in the red for years and was a text book example of that which you speak except for the fact it was owned by the university. As such, it could be considered a government operation.
Guy...I actually did think about the Broyhill while I was posting that post!
I also thought about the matter again when I read in the HIGH COUNTRY PRESS about the town of Boone and the governmentally sponsored DBDA considering the purchase of the old "Appalachian Theatre" on King Street....
Making a venue for music and a place to sell alcoholic beverages? Sounds more like the Boone Saloon to me - but then again, presumably the Boone Saloon is privately owned and likely profitable. If the market place thought that a music theatre/bar in the old theatre would be profitable, don't you think some entrepreneur would have figured this out?
New Guy, you forget one very important point. If an entrepreneur tried to turn the theater into a venue as you describe, the Town Council would fight him with every breath in their bodies.
That which they do and that which they allow others to do (no matter what the UDO says) are very different things.
You are right about that Guy...and, it also dawns on me that a corrupt town could strictly enforce the "noise ordnance" against any competitors in the area!
http://www.daybydaycartoon.com/2011/08/31/
Where's Joe Wilson when you need him?
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