From the Reno Gazette Herald: A California solar-panel manufacturer once touted by President Barack Obama as a beneficiary of his administration's economic policies -- as well as a half-billion-dollar federal loan -- is laying off 1,100 workers and filing for bankruptcy.
Solyndra LLC of Fremont, Calif., became the poster child for government investment in green technology. The president visited the company in May 2010 and noted that Solyndra expected to hire 1,000 workers to manufacture solar panels. Other state and federal officials, such as former Gov. Arnold Schwarzenegger and Energy Secretary Steven Chu, also visited the company's facilities.
But hard times have hit the nation's solar industry. Solyndra is the third solar company to seek bankruptcy protection this month. Officials said Wednesday that the global economy as well as unfavorable conditions in the solar industry combined to force the company to suspend its manufacturing operations.
Republicans have been looking into the Solyndra loan for months. The House Energy and Commerce Committee subpoenaed documents relating to the loan from the White House Office of Management and Budget.
http://www.rgj.com/article/20110901/BIZ15/109010331/Solar-company-got-federal-loan-shuts-down?odyssey=tabtopnewstextFRONTPAGE ]
And this is what Obama and Crybaby Harry Reid are looking at to turn the economy around and create jobs.
This video pretty much says it all.
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