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The closing will result in 40 Solyndra employees being laid off. Another 150 subcontractors will not have their current work contracts renewed, according to the report.
But the news follows the opening of Solyndra's state-of-the-art Fab 2 plant near its original Fremont plant just weeks ago, which was built in part with a $535 million federal loan guarantee from the Department of Energy.
When this defaults.. The US Government will own a solar panel plant..
The use of the failure of one undercapitalized company is a poor example of the failure of the stimulus program. It takes at least four or five bankruptcies before a new technology manufacturer obtains enough capital to become successful.
You have no idea about what would have happened if the bailout had not been implemented. The big auto companies would have failed with the unemployment of many thousands of direct and supplier workers. Almost all of the local banks would have failed as depositors defaulted on mortgages and credit card debt with the draining of small savings accounts. The big finance companies would have also gone under as people without money cannot save for their pensions. As a result of these failures all the private pensions would have disappeared placing unsupportable demands on Social Security. In short the entire economy would have collapsed as the money disappeared because the wealth it represented was never there.
At least the stimulus programs are keeping some people employed and some cash flowing.
In a nutshell, Solyndra will shut its first factory and scale back its production goal from 610 megawatts in 2013 to 300 megawatts in 2013. Declining prices in solar panels -- spurred by cheaper silicon, cheaper products from competing Chinese manufacturers, and other factors -- were cited as the culprits.
Do ya think that our trade agreements with China and outsourcing have anything to do with this? Duh!
How many businesses have close and how many have not had the chance to start up because of the very same problems. This is par for the course on the road of corporate greed that we have taken as a nation. Why would this surprise anyone? Let's just throw in the towel, admit defeat to China and neve again produce another product in the USA!
What I find really stunning, is that people on CD are actually glad about this because it gives them a reason to bash Obama. You are disgusting an blatantly un-American!
In a nutshell, Solyndra will shut its first factory and scale back its production goal from 610 megawatts in 2013 to 300 megawatts in 2013. Declining prices in solar panels -- spurred by cheaper silicon, cheaper products from competing Chinese manufacturers, and other factors -- were cited as the culprits.
Do ya think that our trade agreements with China and outsourcing have anything to do with this? Duh!
How many businesses have close and how many have not had the chance to start up because of the very same problems. This is par for the course on the road of corporate greed that we have taken as a nation. Why would this surprise anyone? Let's just throw in the towel, admit defeat to China and neve again produce another product in the USA!
What I find really stunning, is that people on CD are actually glad about this because it gives them a reason to bash Obama. You are disgusting an blatantly un-American!
How can you repeatedly post about "corporate greed" without also acknowledging the role government regulations and the 35% corporate tax play into sending manufacturing and jobs overseas? Seriously!
It wasn't a bailout. It was loan guarantee, made under the Energy Act of 2005, on 1/2 the amount raised privately.
Solyndra has not defaulted on the loan.
The closing will result in 40 Solyndra employees being laid off. Another 150 subcontractors will not have their current work contracts renewed, according to the report.
But the news follows the opening of Solyndra's state-of-the-art Fab 2 plant near its original Fremont plant just weeks ago, which was built in part with a $535 million federal loan guarantee from the Department of Energy.
When this defaults.. The US Government will own a solar panel plant..
Not every promising start-up company makes it big.
How can you repeatedly post about "corporate greed" without also acknowledging the role government regulations and the 35% corporate tax play into sending manufacturing and jobs overseas? Seriously!
So let's lower ther minimum wage, to hell with working standards and conditions to make our middle class the equivalent to slave labor so that corporation can squeeze every penny out of them. Raise the damn tarrifs for imports...period! As long as the corporate pigs increase the bottom line we can have people jumping out of widows to escape fires in the workplace like back in 1911.
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