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CBS NEWS: 11 More Solyndras In Obama Energy Program

The New Solyndras.

Investigative report that aired in January, though we just discovered it recently.

CBS News counted 12 clean energy companies that are having trouble after collectively being approved for more than $6.5 billion in taxpayerl assistance.  Five have filed for bankruptcy: The junk bond-rated Beacon, Evergreen Solar, SpectraWatt, AES' subsidiary Eastern Energy and Solyndra.

Others are also struggling with potential problems.  Nevada Geothermal -- a home state project personally endorsed by Senate Majority Leader Harry Reid -- warns of multiple potential defaults in new SEC filings reviewed by CBS News.  It was already having trouble paying the bills when it received $98.5 million in Energy Department loan guarantees.

Continue reading at CBS...



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Reader Comments (6)

Thanks DB. AES slipped under my radar.
Dec 7, 2012 at 6:23 AM | Unregistered Commenterjohn
Is it at all possible to get in on some of this action or do we have to perform some sort of service to get some of this money.
Dec 7, 2012 at 9:30 AM | Unregistered CommenterSKINFLINT
Evergreen Solar, Beacon Power, Konarka Technologies, and A123 Systems are all Massachusetts-based companies that have filed for bankruptcy protection. We may well qualify as the nation's green bubble venture capitol. Governor Patrick has said if we get it right the world will be our customer, but politics trumped merit. The Patrick Administration got it wrong. Citizens are on the hook for billions, with publicly-funded technology, intellectual property, in the hands of China where US citizens' have funded jobs.


March 20, 2012

'The Department of Energy’s Disastrous Management of Loan Guarantee Program'.

This Congressional Report sharply criticizes Massachusetts' companies Beacon Power and First Wind, "Kahuku", (SAP “Junk” rated) loan guarantees, and states:

"3. Systemic Risks from “Crony Capitalism” and Wasteful Spending

There is evidence a number of loan guarantee recipients have engaged in clearly profligate spending. Such wasteful spending threatens the financial viability of the recipient companies, creating risks to both the DOE’s loan commitment portfolio and taxpayer dollars. It is particularly troubling that this waste often takes the form of large cash bonuses to company executives – such payments feed the perception that taxpayer funds are being used to line the pockets of green energy executives.

Beacon Power Corp, the second recipient of a § 1705 loan guarantee, paid three executives more than a quarter million dollars in bonuses in March 2010.58 Eighteen months later, Beacon declared bankruptcy, leaving taxpayers to repay the loan. Adding insult to this injury, these bonuses were explicitly linked to the executives securing the DOE loan guarantee..." continue reading-

Dec 7, 2012 at 10:19 AM | Unregistered CommenterBarbara Durkin
Of course!

Because the Controllers NO longer care whether we see this or not! They're sticking it in our faces!

you should have read between the lines of obummers Cop-15 Speech.


He laid it all there, all their plans and intents. In the Speech, he called for " all Members uniting, leaving their differences aside. Otherwise, they would lose all that they had worked for over the Generations. That this was the final opportunity to take full control of the Planet, for their spawn, their future."

Awkward, strange wording.

And you just knew, he wasn't addressing this Speech to Humanity, but to Soul-less creatures.
The "We" in the SPeech is for the Overlords of this Planet, be they over the Americans, the Mexicans,Canadians, the UK, French, Chinese or the rulers of any other countries.

(In each countries, there are TWO Levels, THE People and then there's the Rulers- ALWAYS)

Nothing they've done in the Past or Now, has been for the benefit of any Living Thing on this Planet. Not Human Beings, or 4-leggeds, or Plants or water or Earth, or even Air. These creatures are NOT Native to this Earth.
Dec 7, 2012 at 10:51 AM | Unregistered CommenterBonnie
Leader of Dem governors promises ‘laser’ focus on climate


Likewise, we will be focused like a laser on them...

Dec 8, 2012 at 7:29 AM | Unregistered Commenterjohn

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