what they said



(Reuters) - Solyndra LLC, the bankrupt solar panel maker that owes $500 million to the U.S. government, plans to auction off its machinery in January if it does not get bids for the entire business by an extended deadline.

Solyndra said last week that an initial deadline passed without any satisfactory bids to buy the entire company and restart production, damping hopes that some of its 1,000 idled workers might be rehired.

The company's advisers have focused on selling the business as a whole as the best way to generate money to repay creditors.

Solyndra filed for bankruptcy in September as panel prices have plummeted due to a glut of supply. The company had a $535 million loan that was guaranteed by the Department of Energy.

The company's failure has been an embarrassment for the White House after President Barack Obama visited the company last year. His administration has promoted clean energy as one way to create jobs.

Solyndra will file a motion as soon as Tuesday evening for permission to sell its equipment at an auction in mid-January, Debra Grassgreen, the company's attorney, told a bankruptcy court hearing.

If a buyer for the entire business emerges, then the machinery auction would be unnecessary, Grassgreen said.

Solyndra's advisers still hold out hope they may strike a deal to sell the business as a going concern. Todd Neilson, Solyndra's chief restructuring officer, said after the hearing that Solyndra did receive bids for the business, but said he would not describe them as serious bids.

Solyndra's headquarters were raided by the Federal Bureau of Investigation shortly after it filed for bankruptcy, and Congress is investigating if political connections played a role in approving the loan guarantee.

Neilson said he sensed that potential bidders were being driven away by politics as well as the depressed market for solar businesses.

The case is In re Solyndra LLC, U.S. Bankruptcy Court, District of Delaware, No. 11-12799


It doesn't work! Why? The established energy companies have been in the business for 100 plus years. They have perfected their methodologies and reduced their costs to practical minimums. They exist in the economic world providing their services and products to the consumer at the lowest possible cost.

The so-called green or renewable energy companies are starting off with no track record. They have no established base line to build on. Until a few years ago, windmills were used to grind grain not turn generators.

A 100 foot  high wind generator with twenty foot blades costs over a million dollars. It requires constant maintenance and would be bankrupt in a month if the only payment they received was the same as the price established electric companies sell their power for. They are all subsidized just as Solyndra was.

What's a subsidy? Its our money, taxpayers hard earned cash! Its handed over to political allies of Hussein obama with virtually no strings except those necessary to create a plausible cover story.

In the case of Solyndra, Obama's appointee, Director Chu, a committed liberal socialist ideologue, fell on his sword and tried (unsuccessfully) to minimize White House involvement.

All those involved knew positively, regardless of their public lies, that Solyndra was a loser. Yet, still they passed over to them $535 million of our money.

Everyone knew that the chinks were building solar panels and that their product would be half the cost of any built in California. Solyndra could have used the funds cleverly and rented hundreds of feet of empty warehouse space but they just had to build a multi-million dollar new factory - stupid, until you realize that the contractor likely 'kicked-back' to the management team.

Someday, solar and wind might be competitive but, not with the present technology. If it ever is to compete in the market place it can't be with the tax payers money. It will have to stand on its own feet like all energy companies. If hydro, gas, coal and oil are better , meaning cheaper-  then so be it.

Robert Kennedy , another obama supporter, got over a billion of our dolars for his failed green energy project

We ( the American tax payers)  should not be subsidizing failed, inefficient technology like solar cells. As with the beyond stupid ethanol fetish of the 2000s which did nothing but drive up the cost of gas and food, solar energy has been spearheaded by a stupid,likely fake, black leader who surrounded himself with nutty true believers rather than objective scientists.

A fraction of the billions wasted on inefficient technology could instead have been spent on basic research that might actually get us sustainable renewable technology.

The wildly pro-obama progressive, Robert Kennedy, Jr.  lost $1.4 billion of our money in a bailout for his company, BrightSource, through a loan guarantee issued by a former employee-turned Department of Energy official.

How did a company with $17 million in total revenue get $1.4 billion from the government? Easy, they kissed black ass and claimed they would create 1,400 jobs if everything went really, really well - like if a miracle occurred.

In the end, it is as I have said in the past, the chinks will drive Hummers and we'll be riding bikes.