August 31, 2012 |
When solar panel manufacturer Solyndra Inc. filed for bankruptcy last year, thousands of employees were let go, dozens of vendors were left high and dry, hundreds of millions of dollars were lost -- and millions of glass tubes were abandoned in a San Jose warehouse. Now some of those tubes, a signature design element of the company's cylindrical-shaped solar panels, have found a second life as modern art. Yet like so much about Solyndra, they've become another flash point in the controversy surrounding the Fremont, Calif., company.
August 15, 2012 |
Republican Rep. Cliff Stearns has conceded victory to political novice Ted Yoho, a tea party favorite who bested the veteran congressman by just over 800 votes in Tuesday's primary contest. Stearns is a 12-term congressman representing the Gainesville, Fla., area. He was competing for a district that was redrawn through redistricting to include voters from a larger geographic area that he had not previously represented. Still, he clearly was not expecting a credible challenge to his 13 th bid for the GOP nomination, as he lost the race while sitting on more than $2 million in campaign cash.
May 31, 2012 |
FREMONT, Calif. - Politics often feels like a carnival sideshow. Thursday was one of those days. Mitt Romney and aides to President Obama held competing news conferences on opposite sides of the nation, each aimed at establishing a layered and damaging narrative about the opponent and illustrating why he is incompetent to right the nation's economy. The events were a small preview of a general election battle that will be waged in person and on airwaves across the nation.
May 31, 2012 |
FREMONT, Calif. - Mitt Romney made a secretive trip to the shuttered headquarters of the Solyndra solar-energy company, arguing it was a symbol of “crony capitalism” that received federal loan guarantees because of its ties to the Obama administration, and asserting that it showed the president's lack of understanding of how the economy works. “It's a symbol not of success but of failure. It's also a symbol of a serious conflict of interest,” Romney told reporters across the street from the glass building, reiterating a Republican charge that the firm received a $535-million federal loan guarantee because one of its largest investors is a major fundraiser for Obama.
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.