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Old 03-06-2012, 07:42 AM
 
Location: Chicagoland
41,314 posts, read 38,426,333 times
Reputation: 7103

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Green Firms Get Fed Cash, Give Execs Bonuses, Fail - ABC News

Quote:
President Obama's Department of Energy helped finance several green energy companies that later fell into bankruptcy -- but not before the firms doled out six-figure bonuses and payouts to top executives, a Center for Public Integrity and ABC News investigation found.
3 videos at the link, on Nightline, Nightly News and GMA.

Well covered and a devastating indictment on obama's "green" push.

Meanwhile, the jobs promised are being created in Finland, not the US.

Oh, these cars are made for the 1%.
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Old 03-06-2012, 07:49 AM
 
14,133 posts, read 7,361,006 times
Reputation: 7967
"Obama's Department of Energy helped finance several green energy companies that later fell into bankruptcy -- but not before the firms doled out six-figure bonuses and payouts to top executives" Thats how green power works with this administration, nothing innovative, just more fleecing of America.
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Old 03-06-2012, 07:52 AM
 
Location: NC
1,673 posts, read 1,478,607 times
Reputation: 523
Businesses still fail with or without government money. Heck it is a good thing they DO fail with government assistance or every company wouldn't start without government backing.

As for execs getting bonuses as a company fails, it happens all the time. The excuse is to "keep upper tier talent." Not a big believer in that excuse myself.
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Old 03-06-2012, 07:54 AM
 
Location: Chicagoland
41,314 posts, read 38,426,333 times
Reputation: 7103
Quote:
Originally Posted by Maabus1999 View Post
Businesses still fail with or without government money. Heck it is a good thing they DO fail with government assistance or every company wouldn't start without government backing.

As for execs getting bonuses as a company fails, it happens all the time. The excuse is to "keep upper tier talent." Not a big believer in that excuse myself.
How about "green" companies, headed by big obama bundlers getting BILLIONS in taxpayer loans, reneging on creating jobs in this country, giving out lavish bonuses before going bankrupt and screwing the taxpayer?

That happen all the time too?
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Old 03-06-2012, 07:58 AM
 
Location: NC
1,673 posts, read 1,478,607 times
Reputation: 523
Quote:
Originally Posted by sanrene View Post
How about "green" companies, headed by big obama bundlers getting BILLIONS in taxpayer loans, reneging on creating jobs in this country, giving out lavish bonuses before going bankrupt and screwing the taxpayer?

That happen all the time too?
I work in the defense industry and have seen similar issues for more then a decade (i.e., before Obama). It happens more then just green companies, which are just a hot political football. In fact I would say I've seen way more waste in defense then anything close to green companies.

Oh, and the reason most solar companies have failed (being I invested many years ago but thankfully got out near the height) is they can not compete with subsidized Chinese companies. That is right, the Chinese government is outplaying and spending the U.S. government to corner a future market.

Welcome to the real world of business.
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Old 03-06-2012, 08:23 AM
 
15,357 posts, read 8,655,599 times
Reputation: 13700
Quote:
Originally Posted by Maabus1999 View Post
I work in the defense industry and have seen similar issues for more then a decade (i.e., before Obama). It happens more then just green companies, which are just a hot political football. In fact I would say I've seen way more waste in defense then anything close to green companies.

Oh, and the reason most solar companies have failed (being I invested many years ago but thankfully got out near the height) is they can not compete with subsidized Chinese companies. That is right, the Chinese government is outplaying and spending the U.S. government to corner a future market.

Welcome to the real world of business.
Right, business. Which our government has no business in by picking winners and losers.

Defense is our country's job. Pushing green energy companies, to line the pockets of your political donors is NOT.
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Old 03-06-2012, 08:38 AM
 
5,527 posts, read 8,763,642 times
Reputation: 1860
I guess by "green initiatives" they meant green backs.
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Old 03-06-2012, 08:52 AM
 
Location: NJ
15,848 posts, read 10,918,077 times
Reputation: 10077
Obvama's string of bad investments can only be considered money laundering.

When an unexplainable disaster resulting in the loss of half a billion $$$ of taxpayer money by a president who celebrated 40$ more a paycheck as a the difference between life and death, something is definitely amiss. Lack of media outrage and coverage is another red flag.

When investment after investment by our government caretakers in green business fails and places the taxpayer on the hook we have a definite 'conspiracy'. A conspiracy of incompetence by people who wish to now manage your health care. Not a good feeling.

Even when Obama was given the grace of speaking from hindsight he said he did not regret "investing" in Solyndra. That statement is on a par with Pelosi's , "we have to pass it to see what's in it". Both will be forever repeated as indicative of the low point in American history....barring any attempt to 'change our history'.
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Old 03-06-2012, 09:20 AM
 
Location: Chicagoland
41,314 posts, read 38,426,333 times
Reputation: 7103
Quote:
Originally Posted by Maabus1999 View Post
I work in the defense industry and have seen similar issues for more then a decade (i.e., before Obama). It happens more then just green companies, which are just a hot political football. In fact I would say I've seen way more waste in defense then anything close to green companies.

Oh, and the reason most solar companies have failed (being I invested many years ago but thankfully got out near the height) is they can not compete with subsidized Chinese companies. That is right, the Chinese government is outplaying and spending the U.S. government to corner a future market.

Welcome to the real world of business.
Yeah....consumer demand plays a part, doesn't it?

Obviously, IF there were a demand for the technology, no amount of subsidizing would make a difference.
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