How’s That Green Thing Working Out For You?

From The Lincoln Journal Star

1. Raser Technologies in 2010, which has fewer than 10 employees, was given $33 million to build a power plant. According to the Wall Street Journal the company Filed For Bankruptcy Hearing this year.

2. ECOtality in 2009 was given $126.2 million for the installation of 14,000 car chargers in 5 states. The company has since incurred more than $45 million in losses, and the company is under investigation for insider trading.

3. Nevada Geothermal Power was given $98.5 million in 2010. The New York Times reported in October that the company is in “financial turmoil,” and there was significant doubt the company’s ability to continue as a going concern.

4. First Solar was given $3 billion for power plants in Arizona and California, and Business week reported their stocks fell to a record low after reporting $401 million restructuring costs, and had fired 30 percent of its workforce.

5. Abound Solar was given $400 million to build photo-voltaic panel factories. Forbes reports in February the company halted production and laid off 180 employees. In June of 2012, Abound went Bankrupt.

6. Beacon Power was given $43 million even though Standard and Poor’s had given the company a dismal outlook. Last fall the company received a delisting from NASDAQ and has Filed For Bankruptcy.

7. Sunpower was given $1.2 billion and as of January owed more than it was worth.

8. Bright Source was given $1.6 billion and then posted a string of net losses totaling $177 million.

9. Solyndra, a solar panel manufacture, was given $535 million and since then has gone Bankrupt.

10. Tonopah Solar got $737 million. Tonopah Solar is run by Nancy Pelosi’s brother-in-law.

Now, Here Is What Is Most Interesting In This Article:

“Of all these grants and loans 71 percent of the money went to “individuals who were bundlers”, members of Obama’s Nation Finance Committee, or large donors to the Democratic Party.”

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