Solyndra shuts its doors

posted at 2:05 pm on August 31, 2011 by Ed Morrissey

At one time, Solyndra was the poster child for Barack Obama’s promise of a green-jobs explosion.  Today, the solar-energy technology manufacturer a poster child for the failure of his stimulus, his green-jobs push, and social engineering in general.  Solyndra abruptly shut its doors today and declared bankruptcy, two years after getting over a half-billion dollars from the Obama administration’s Porkulus:

View more videos at: http://nbcbayarea.com.

Solyndra, a major manufacturer of solar technology in Fremont, has shut its doors, according to employees at the campus.

“I was told by a security guard to get my [stuff] and leave,” one employee said. The company employs a little more than 1,000 employees worldwide, according to its website.

Obama insisted in a May 2010 appearance last year that Solyndra would prove the effectiveness of his economic policies:

Solyndra was touted by the Obama administration as a prime example of how green technology could deliver jobs. The President visited the facility in May of last year and said  “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. “

Unfortunately, the administration doesn’t have the best researchers in the world.  As it turns out, Solyndra never made a profit, either before or after soaking up $535 million in loan guarantees.  The money went to build a massive new facility, but eventually canceled an expansion and started laying off workers.  Now, with Solyndra moving into Chapter 11, it looks like all that money is lost for good — and instead of saving or creating jobs, a thousand or more workers will have to start looking for a new job soon.

Solyndra certainly proved something about Obamanomics. It proved it to be a costly flop.

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I read this and can’t help but think that I’m living out a chapter of Atlas Shrugged.

tryptic on August 31, 2011 at 3:57 PM

OBAMA IS 100% RIGHT! SERIOUSLY OBAMA NAILED IT. Solyndra is an example of the kind of jobs and results we can hope to get from the green jobs market. Wasted money and closed doors.

USBB on August 31, 2011 at 4:06 PM

Obama insisted in a May 2010 appearance last year that Solyndra would prove the effectiveness of his economic policies

And so it has.

disa on August 31, 2011 at 4:11 PM

They failed because you people don’t believe in AGW and want to continue using coal and oil for energy and not invest in solar or windmills.The president is right and you are all wrong.

crr6 on August 31,2011

docflash on August 31, 2011 at 4:17 PM

Oh well. One less shell corporation for the Dems to launder campaign contributions through.

Mike Honcho on August 31, 2011 at 4:24 PM

Solyndra abruptly shut its doors today and declared bankruptcy, two years after getting over a half-billion dollars from the Obama administration’s Porkulus

That explains where some of it disappeared to…how many other billions that supposedly went to help states remain solvent are actually in private bank accounts and political war chests?

Dr. ZhivBlago on August 31, 2011 at 4:26 PM

You’ll know Solar Power is viable when the average house can afford it and install it,and you can buy it from Sears. As it is now, go look for information.

For $50 you can buy a book the purportedly tells you all the Solar Power “Secrets”. No one is kitting these up, but they’ll sell ya a book. Sounds like most Conservatives on TV/Radio, just sell’n books.

orbitalair on August 31, 2011 at 4:31 PM

See?

If you back Barack Hussein Obama and his cavalcade of arseclowns you get Half a Billion Dollars. If you don’t back Barack Hussein Obama and his cavalcade of arseclowns, well, you get a visit from his agents of his federal government who seize your wood and all of your guitars.

Barack Hussein Obama is master. Bow down before the one you serve, or you’ll get what you deserve.

FlatFoot on August 31, 2011 at 4:38 PM

Perfect example of the Obama three card montee…

Trillions wasted for an obama photo op…

Kuffar on August 31, 2011 at 5:00 PM

be a great backdrop for one of the republican candidates to film a commercial or give a speech. a great example of the obama economy

chasdal on August 31, 2011 at 5:02 PM

And let me guess, most if not all of the now-unemployed employees received money in the form of a bonus after the “Porkulus” money was given to the company. Mmmm, they all seemed to make maximum donations to the Obama campaign. Merely a coincidence I’m sure. Money laundering 1A.

sgtstogie on August 31, 2011 at 5:28 PM

Wouldn’t be surprised if while 1100 or so employees get their closing checks, there’s a handful at the very top who are closing on very nice homes.

TimBuk3 on August 31, 2011 at 5:28 PM

At one time, Solyndra was the poster child for Barack Obama’s promise of a green-jobs explosion. Today, the solar-energy technology manufacturer a poster child for the failure of his stimulus, his green-jobs push, and social engineering in general.

That is some really awkward, confusing writing.

Django on August 31, 2011 at 5:51 PM

Solyndra, hit the road, Jack–and don’t you come home no more…..

MaiDee on August 31, 2011 at 5:58 PM

The money went to build a massive new facility buying Prius’ for the owners’ girlfriends.

peacenprosperity on August 31, 2011 at 6:47 PM

Time to start another “green company”, I will step up and become the president of the company that will eventually fail…that is the kind of guy I am, a sacrifice (worth 100 million)…
You gotta hand it to the scam artists, they know how to rake in the money…and they know who is a soft touch (code for who is really naive and stupid).

right2bright on August 31, 2011 at 7:00 PM

Same as visiting the coffee shop in Ohio, and a week later they closed…

PatriotRider on August 31, 2011 at 2:15 PM

Are you serious!?!? The Obama jinx strikes again!

Mary in LA on August 31, 2011 at 7:44 PM

Daryl Hannah on BOR. At last BOR has found his intellectual match.

slickwillie2001 on August 31, 2011 at 8:15 PM

Obama insisted in a May 2010 appearance last year that Solyndra would prove the effectiveness of his economic policies:

Well by golly he was sure as heck right about that!

Gwillie on August 31, 2011 at 8:27 PM

O’Bozo beclowned again.

Jaibones on August 31, 2011 at 9:08 PM

Okay I searched CNN’s website with a keyword of Solyndra to see if they bother covering this closure…and here is what was returned….
Did you mean: Sondra ?Top 2 results shown

malkinmania on August 31, 2011 at 9:30 PM

Where exactly is that money now?? Every executive should be followed to find out what their lavish assets are. San Francisco’s newspapers are already blaming China, with the lemming bloggers enthusiastically agreeing. This is like a giant comedy, only its not funny because its at our expense. get this clown out..now..not in 2012.

malkinmania on September 1, 2011 at 7:02 AM

I live not far from Solyndra and having done some research work in the solar industry during my collegiate career I know only too well that Solyndra’s business model was hopelessly optimistic. Boiled down to basics it was as follows:

1) Get taxpayer money.
2) Use government muscle to convince reluctant customers to buy overpriced, over-hyped and inefficient products.
3) Get more government money
4) Repeat as many times as they can get away with it.

The only sad part is all the employees who are now jobless. But hey, the Press gets to use their favorite word again. Yup, unexpectedly! Funny how this Administration’s policies always seem to end up unexpectedly not doing very well. One would think that by now, bad results would be expected! But I guess the Press’ capacity for self-propaganda and deliberately blinding themselves to plain evidence cannot be overstated.

StoneHeads on September 1, 2011 at 11:39 AM

1) Get taxpayer money.
2) Use government muscle to convince reluctant customers to buy overpriced, over-hyped and inefficient products.
3) Get more government money
4) Repeat as many times as they can get away with it.

# 5. Funnel a certain percentage of govt. money to Barack Hussein Obama to get him re-elected.
Repeat steps 1 thru 5 till someone wakes up and marches you to a Federal Penitentiary.

Marco on September 1, 2011 at 5:40 PM

To steal an old programmer chestnut.

You have a jobs problem, and you think “I know! Green jobs!” Now you’ve got two problems.

Axeman on September 2, 2011 at 10:46 AM

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