September 15, 2012 |
WASHINGTON — The Republican-controlled House approved a bill Friday that would limit the Energy Department's power to issue loan guarantees for new green-energy projects, a move stemming from the controversy over the failure of California solar equipment maker Solyndra. The so-called No More Solyndras Act is the Republicans' response to the collapse of Solyndra two years after it received a $535-million loan guarantee from the Obama administration. The measure was approved 245 to 161, mostly along party lines.
April 14, 2012 |
WASHINGTON — Urging Republicans to reauthorize funding of the Export-Import Bank, Commerce Secretary John Bryson said that losing the institution and its vital role in the economy would be "unacceptable. " Many in the GOP have been blocking the Obama administration's proposed reauthorization, under which the bank's total lending authority would increase to $140 billion by 2015 from the current $100-billion cap. "Reauthorizing the Export-Import Bank should be a straightforward, sound and simple decision," Bryson said Friday.
April 13, 2012 |
WASHINGTON -- With many Republicans blocking re-authorization of the Export-Import Bank, Commerce Secretary John Bryson called the institution an example of good government that plays a vital role in the economy. "Reauthorizing the Export-Import Bank should be a straightforward, sound, and simple decision," Bryson said Friday. "Or put another way, losing Ex-Im at a time when America's businesses and workers are just getting back on their feet, would be unacceptable. " Bryson made the comments in prepared remarks before a receptive audience -- the bank's annual conference in Washington.
March 29, 2012 |
Hollywood has been dragged into the dispute over the fate of the Export-Import Bank, with a leading foe of the institution criticizing past loan guarantees for Hollywood movies. The fiscally conservative Club for Growth, which has been pushing lawmakers to oppose the bank's re-authorization, took aim Thursday at four independent films that received loan guarantees in 2002 for foreign distribution under a program that ended a year later. The movies included "The United States of Leland," starring Don Cheadle, Ryan Gosling and Kevin Spacey, about a troubled youth's experiences in a juvenile detention center, and "High Voltage," about "a military solar energy project gone awry," according to a 2002 news release from the bank.
February 23, 2012 |
Remember Solyndra, the solar panel maker that got $535-million government loan guarantees, only to file for bankruptcy less than two years later? Well, some of its remaining employees could get bonuses of up to $30,000 apiece, even though the company is being liquidated. The judge overseeing the bankruptcy proceedings has OK'd paying a total of nearly $370,000 in bonuses if certain landmarks are reached, including the timely auction of some Solyndra assets, according to a Bloomberg News report.
February 11, 2012 |
An independent audit of federal loan guarantees that backed such alternative energy projects as now-failed solar equipment maker Solyndra failed to turn up the waste and incompetence that critics said riddled the programs. But the audit showed that laws establishing the Energy Department programs lacked adequate provisions for thorough monitoring and oversight of the loan guarantees once they were approved. One program created in 2007 did not "provide any requirements regarding governance and monitoring of loans after closing," the report said.