Apple Didn't Get Any Government Loan Gurantees

From The Washington Examiner: Steve Jobs showed how one person's innovation and creativity can create a company and an industry of previously unimagined products.
Apple Inc. was located in the San Francisco Bay area, not far from Solyndra, the bankrupt solar panel company, in which in which taxpayers have a $528 million exposure.
Unlike Solyndra, Jobs didn't get government loan guarantees for his first Apple computer, or for the Mac, iPod, iPhone or iPad.
With Solyndra's bankruptcy, surely September would have been a good time to halt the Energy Department's loan guarantee program and understand why the government can't pick winners.
But instead of pausing, the Energy Department recklessly issued another $8 billion of loan guarantees in September under the Energy Policy Act of 2005.
Twelve companies received loan guarantees last month, including First Solar ($2 billion), Sunpower Corp. ($1.2 billion) and Abengoa Solar (a second loan for $1.2 billion, following a first loan for $1.4 billion in December). This brings to $16 billion the sum of guarantees issued by the government under the program since 2009.
Which one will be the next Solyndra? Does anyone think that one will be the next Apple?
Take 1366 Technologies Inc, located in Lexington, Mass., which received $150 million on Sept. 8. The company's plan is to break ground on its factory in March 2012 and start shipping silicon wafers in 2013.
On its website, 1366 Technologies states, "The science is understood. The material is abundant. The products work. All that is left is to build the largest manufacturing industry in the history of mankind. This is what we intend to do."
Then why can't 1366 Technologies attract private financing? Perhaps because the schedule is unrealistic. Surely, the ground-breaking date is pushed back since the loan was only just now approved. So, how can wafers start shipping in December 2013?
It probably takes one year to build the plant. Then, three months to commence production. Of course, there is selling, delivery and finally collection of accounts receivable. That's bumping up against two years.
The loan is interest-only for about two years. But 1366 still has to pay interest, so it will be under financial stress. This is very Solyndra-like.
Another Solyndra-type loan is POET LLC, in Emmetsburg, Iowa, which received $105 million to make cellulosic ethanol on Sept. 23. Cellulosic ethanol, a fuel made from plant waste products, is still too costly to be commercially marketable.
Although cellulosic ethanol consumption is required by the 2007 Energy Independence and Security Act, no one knows how to make it in large enough quantities to succeed commercially.
POET's prospects are similar to Range Fuels, a cellulosic ethanol plant in Soperton, Ga. It closed in January 2011 after receiving $156 million in federal grants and loans in 2007 and 2008 from the Bush administration, $6 million in grants from the state of Georgia, and $100 million from private investors.
We're throwing billions of dollars at renewable energy, electric cars and high-speed rail because we're concerned that China is getting ahead of us and stealing our jobs.
Read more at the Washington Examiner: http://washingtonexaminer.com/opinion/columnists/2011/10/steve-jobs-didnt-get-loan-guarantees#ixzz1XLb5dK00
Since Crybaby Harry Reid and President Obama have tagged team to promote green energy, they have been responsible for hundreds of thousands of jobs lost and only a few jobs gained in green energy. These two fools have cost taxpayers billions of dollars in green energy fraud, lost loans along with state and local government agencies losing millions upon millions on green energy.
Maybe these liberal protesters throughout the country ought to be focusing on green energy fraud and the rip off the taxpayers of billions of dollars, along with complaining about the banks.
Nah, they won't because, well because they are liberal hypocrites.