Just heard on KCBS, San Francisco, California. Solyndra to lay off 1,100 workers and file Chapter 11 Bankruptcy.
“Solyndra LLC, the American manufacturer of innovative cylindrical solar systems for commercial rooftops today announced that global economic and solar industry market conditions have forced the Company to suspend its manufacturing operations,” the company said in a statement.
So, back to that $534 million federal loan guarantee. Will the taxpayers get stiffed? Will anyone be prosecuted?0 Remember, the ex-CEO is a Obama buddy, so I wouldn’t hold my breath waiting for any action.
I’d call this another Obama downgrade and another green jobs fail for Governor Jerry Brown, ex-Governor Schwarzenegger and the state of California.