Category Archives: California

Solargate: FBI executing search warrant at Solyndra

There is a new turn in the Solyndra debacle this morning. It is being reported by papers, radio and TV that the FBI is executing a search warrant at Solyndra and the Inspector General at the Department of Energy is also involved.

No word on what they’re looking for but I would suspicion it has to do with the $500+ million in loan guarantees provided by the government and Solyndra’s sudden closure last week, laying off about 1,000 employees without notice.

It makes me also wonder if there are any plans to do a search at Oklahoma billionaire George Kaiser’s place as he is the majority owner of Solyndra, who is reported to be a large fund-raiser for Obama in 2008 and who was possibly instrumental in getting Solyndra the loan guarantees.

Update 1: This now has me wondering what exactly is going on.  Is this a raid to get evidence for a possible prosecution? Or, is this a raid to remove evidence that may come back and haunt the Obama administration? The way things are going these days (Operation Gun Runner and Operation Fast & Furious), I certainly would not be surprised if this turned out to be some move by Attorney General Eric Holder to sanitize things for the President. Reelection is coming up you know.

More later as things develop.

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Filed under California, California Green Jobs, Climate Alarmism, Climate Change, Climate Disruption, CO2, Co2 Insanity, EPA, Financial, Global Warming, Government, Green Energy, Green Tech, Prop 23, Solar, Solargate, Solyndra

Solargate: Solyndra Bankruptcy Announcement

Solyndra Suspends Operations to Evaluate Reorganization Options

FREMONT, Calif., August 31, 2011 – 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. Solyndra intends to file a petition for relief under Chapter 11 of the U.S. Bankruptcy Code while it evaluates options, including a sale of the business and licensing of its advanced CIGS technology and manufacturing expertise.  As a result of the suspension of operations approximately 1,100 full-time and temporary employees are being laid off effective immediately.

Despite strong growth in the first half of 2011 and traction in North America with a number of orders for very large commercial rooftops, Solyndra could not achieve full-scale operations rapidly enough to compete in the near term with the resources of larger foreign manufacturers.  This competitive challenge was exacerbated by a global oversupply of solar panels and a severe compression of prices that in part resulted from uncertainty in governmental incentive programs in Europe and the decline in credit markets that finance solar systems.

“We are incredibly proud of our employees, and we would like to thank our investors, channel partners, customers and suppliers, for the years of support that allowed us to bring our innovative technology to market.  Distributed rooftop solar power makes sense, and our customers clearly recognize the advantages of Solyndra systems,” said Solyndra’s president and CEO, Brian Harrison.  “Regulatory and policy uncertainties in recent months created significant near-term excess supply and price erosion.  Raising incremental capital in this environment was not possible.  This was an unexpected outcome and is most unfortunate.”

Customers who have implemented Solyndra solutions can be assured that their systems will generate economical, clean, solar power for decades.

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Contact:  Dave Miller, Director Corporate Communications (510) 440-2979.

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Solargate: Update – Solyndra to Lay off 1,100 and file Chapter 11 Bankruptcy.

Just heard on KCBS, San Francisco, California. Solyndra to lay off 1,100 workers and file Chapter 11 Bankruptcy.

From Gigacom:

“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.

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Solargate: Solyndra to close?

DOA ?

UPDATE: Just heard on the radio that Solyndra is filing for Chapter 11 bankruptcy and will lay off 1,100 employees, essentially their entire workforce.

Yesterday I questioned what’s going on in the solar industry and picked Solyndra as a potential candidate to close its doors since it’s losing titanic amounts of money.

I wasn’t off the mark at all. This morning, it sounds that Solyndra may announce it’s closing its doors. According to KTVU Channel 2 News in Oakland, California this morning, employees are being laid off and given unemployment packets. Today, I again wonder if they’ll now file bankruptcy and take their manufacturing to China like Evergreen Solar of Massachusetts?

The Street reports:

U.S. solar company Solyndra, which once had dreams of a big IPO, is headed into bankruptcy.

A analyst in the solar market said an announcement from the embattled U.S. solar company was imminent, expected at noon on Wednesday, after speaking with an employee of the firm in Europe, where all employees were told on Wednesday that they were being let go.

A local Bay Area NBC affiliate also posted a report saying doors of a Solyndra California location had been shuttered and quoted employees as saying the company was finished.

KRON TV in San Francisco, California,  is also now reporting live that workers are getting pink slips and are getting ready to attend a meeting inside Solyndra HQ to hear about what is happening.

No wonder the CEO resigned and appears to be hiding out. Now I wonder how much of that loan money and VC money he has stuffed in his bank accounts and what will happen to it? After visiting this plant and touting green jobs I wonder what President Obama will  have to say about this? He’ll probably remain silent and play golf or go on another vacation.

That’s $535 million of your tax dollars thrown out the window by President Obama. That’s what the federal loan guarantee was and no doubt Solyndra won’t be able to make good on it. With things like this it’s no wonder we need to increase the federal debt limit.

As for Jerry Brown and Arnold Schwarzenegger, who have been touting all these wonderful green jobs in California, here’s another massive green jobs fail for you. Now California will again get to blow more money on unemployment checks instead of raking in tax dollars. Their sub-contractors will no doubt be laying off their people next and the city of  Fremont, California, will not be getting any revenue from this bad deal either. There will now be two Solyndra building that will be empty or almost empty sitting beside Highway 880 in Fremont.

Want to bet no one goes to jail over this? I hope Congress takes a hard look at this. Yet more CO2 Insanity of the expensive kind.

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Mitt Romney does an Al Gore

No, we don’t make this stuff up. If you remember, the Reverend Al Gore, head kook of the Church of Global Warming, preached the gospel about how global warming will cause the sea-level to rise. Then, after all that preaching, Reverend Al bought beach front mansion in upscale Montecito, California.

We thought it was hysterical when I Hate the Media’s Mr. Editor and Mr. Administrator were so excited they bought a full-page ad in the local paper to welcome the Reverend Al to town, which got some warmer type people upset.

It seems that Mitt Romney has now developed a similar case of AGW hypocrisy. Back in June he told everyone he believes in anthropogenic global warming, ergo he believes in sea-level rise. Ergo, if one is going to build a mansion it had better be on top of Mount Araratnext to what’s left of Noah’s Ark so it’s safe.

So, what does Uncle Mitty do? Well, not only does Uncle Mitty own some beachfront property just north of San Diego in La Jolla, California, he now wants to tear down that measly 3,000 square foot mansion and replace it with an 11,062 square foot mansion, larger than Revered Al’s 6.500 square foot villa.

Sounds like a case of keeping up with the Gore’s to us. Or, perhaps a game of who has the bigger beachfront mansion full of global warming BS. Or, perhaps Uncle Mitty has some warmer-type investments we don’t know about? Or, it could just be a case of common CO2 Insanity.

Meanwhile, poor Obama has to rent his beach front vacation house. Loser!

Source: Daily Mail

Written by: CO2 Insanity

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Filed under Al Gore, California, Climate Alarmism, Climate Change, Climate Disruption, Climategate, Co2 Insanity, Global Warming, Mitt Romney, Sea-Level

Costco isn’t getting a charge out of EV’s

In another blow to EV’s (electric vehicles) COSTCO has decided to remove all the electric vehicle chargers at their stores.

“We were early supporters of electric cars, going back as far as 15 years. But nobody ever uses them,” said Dennis Hoover, the general manager for Costco in northern California, in a telephone interview. “At our Folsom store, the manager said he hadn’t seen anybody using the E.V. charging in a full year. At our store in Vacaville, where we had six chargers, one person plugged in once a week.”

Mr. Hoover said that E.V. charging was “very inefficient and not productive” for the retailer. “The bottom line is that there are a lot of other ways to be green,” he said. “We have five million members in the region, and just a handful of people are using these devices.”

Evidently COSTCO thought they’d attract customers by putting in EV chargers and it went kerfloppin. It’s apparent even in California, the Greentard state, very few are charging their EV’s up even when it’s free.

EV sales make it apparent why no one’s using the chargers.  According to New American:

The Volt is currently leading the electric car battlefront in North American sales, but a mere 2,029 units have been sold since the Volt’s late 2010 launch. The Nissan Leaf trails behind with only 1,044 units sold.

Divide the total 3,033 units by 50 states and that’s a measly 61 cars per state. I call that evidence not many are biting the EV apple.

Source: NY Times

 

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Here’s “More” Green Jobs for California

Well, I keep hearing about all these terrific green jobs California is going to be getting. We heard it from the Governator and Jerry Brown and a host of others. Seems like they’re using a reverse process because it seems more are leaving the state than coming in. We already have a lot going on with Solyndra, including an investigation by Congress. Whether they’ll survive or not, who knows?

Two solar companies are leaving for Mississippi and South Carolina, too and taking a lot of jobs with them. I guess the sunny climate in California is not enough to overcome the onerous taxes and regulations that businesses have to deal with on a daily basis to operate.

The latest casualty is a start-up electric car manufacturer called Green Vehicles. The city of Salinas, California loaned them $500,000 dollars, and now they’re going belly up. No jobs, no taxes, no nothing except another hole that tax-dollars were tossed down. Like anyone would have bought this fugly looking thing anyway.

Source: KSBW

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