Town Hall Patriots: Solar Company Touted By Obama Goes Bust

Monday, September 5, 2011

Solar Company Touted By Obama Goes Bust

A California solar panel manufacturer which President Obama had made the poster child of his effort to expand the green economy and grow jobs has filed for bankruptcy, the company announced today.

Solyndra said “global economic and solar industry market conditions” forced it to abruptly shutter its Fremont, Calif., factory and immediately layoff more than 1,100 employees.

“Regulatory and policy uncertainties in recent months created significant near-term excess supply and price erosion,” Solyndra president and CEO Brian Harrison said in a statement. “Raising incremental capital in this environment was not possible. This was an unexpected outcome and is most unfortunate.”

September 3, 2011

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Ronald Reagan's Winning Strategery

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