Yet another Obama-backed ‘green’ company fails, takes your tax money with it
At this point is there ANY company touted by Obama as our future that’s still in business?
“The latest casualty is Abound Solar Manufacturing,” Investors Business Daily writes today. “The Longmont, Colo.-based recipient of a $400 million federal loan guarantee to expand solar panel production said Tuesday it is laying off 280 workers and delaying a new factory in Indiana. That amounts to a 70% reduction in its workforce.”
“This is a far cry from the bright future painted by the president in his weekly radio address of July 3, 2010. Touting his push for a clean energy economy, Obama said Abound would ‘manufacture advanced solar panels at two new plants, creating more than 2,000 construction jobs and 1,500 permanent jobs’ at plants in Indiana and Colorado.”
“Apparently Abound was not helped by last July’s $9.2 million Export-Import Bank loan to support exports of thin-film solar photovoltaic modules from Abound Solar to Punj Lloyd Solar Power Ltd., a company in India building a five-megawatt solar project on a 62.5-acre site near the village of Bap.
“In a January report, Sharyl Attkisson of CBS News counted at least 12 clean energy companies that were having trouble after collectively being approved for more than $6.5 billion in federal assistance. Five have filed for bankruptcy: the junk bond-rated Beacon, Evergreen Solar, SpectraWatt, AES’ subsidiary Eastern Energy and the infamous Solyndra.”
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