Solyndra's Bankruptcy

http://www.futureofcapitalism.com/2011/08/solyndra-bankruptcy

Another government-backed American solar energy company, Solyndra, has filed for bankruptcy. The Wall Street Journal has an editorial, the New York Times has a news article ("The Energy Department gave Solyndra a conditional guarantee for $535 million, in multiple stages, contingent on reaching a variety of milestones, and to date, it had received $527 million. ... More than 1,000 employees were laid off"), and embedded below is a YouTube video of President Obama's May 2010 visit to a Solyndra factory in California. Said the president, "Incredible, cutting edge solar panels that you are manufacturing… it is just a testament to American ingenuity and dynamism, and the fact that we continue to have the best universities in the world, the best technology in the world, and most importantly, the best workers in the world, and you guys all represent that….Companies like Solyndra are leading the way toward a brighter and more prosperous future....The true engine of economic growth will always be companies like Solyndra."

by Editor  |  Aug 31, 2011 at 9:18 pm Related Topics:  Energy, President Obama receive the latest by email: subscribe to the free futureofcapitalism.com mailing list