Friday, September 9, 2011

The Fall of Solyndra in Fremont California

Solyndra a solar manufacturing company in Fremont California files for
Chapter 11 on September 6, 2011 and lays off 1,100 employees.  It has been
about two years since Solyndra in Fremont California broke ground and
secured over $535-million dollar federal loan guarantee part of the
$787-billion economic stimulus package to create jobs now files
bankruptcy. How did this happen? I thought when President Obama visited in
May 2010; maybe the economy was finally going to turn around with green
tech jobs. Solyndra is not alone, Spectrawatt Inc. in Hopewell Junction,
New York filed on August 19, 2011, Evergreen Solar Inc. in Marlboro,
Mass., filed on August 15, 2011. Solyndra said “its business had run into
trouble because of difficult global business conditions, including slowing
demand for solar panels, and stiff competition.” The United States
Department of Energy said “China’s subsidies to its solar industry were
threatening the ability of Solyndra and other American manufacturers to
compete.”  Three U.S. solar companies to fail in the same year and one
month apart is unacceptable someone did not do their homework, The FBI
served a search warrant on September 8, 2011. The CEO of Solyndra Brian
Harrison is under investigating for possible fraud. The House subcommittee
wants him to testify next week they want to know how Solyndra won its
loans. The United States has been known for being the inventor of
technology. What happened? Why are we falling short?  I feel for the 1,100
employees that were laid off. The former employees of Solyndra in Fremont
Califorina have a class action lawsuit seeking severance pay. The law
makers need to stop fighting among themselves and work together to make is
nation the power it used to be. If they keep going the way they are going
this nation will keep falling short and we the people will continue to



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