Monday, July 30, 2012

Another Solar Company Up in Smoke

From: Ann N.
Sent: July 30, 2012
To: undisclosed recipients
Subject: Fw: Another Solar Company Up in Smoke
Another Solar Company Up in SmokeAnd the beat goes on!!!!!!!!!
EDITORIAL: Uncle Sam’s solar eclipse

Federal funds can’t buy success under the sun

The Washington Times
Wednesday, July 11, 2012

As much of the nation broils under the merciless July sun, the Obama administration can’t resist the urge to burn cash on “green” energy projects. Each time one of these solar-energy firms flames out, American taxpayers get singed. Even a sundial would indicate it’s quitting time.
The latest to fail is Abound Solar, a Colorado solar-panel manufacturer. The firm filed for Chapter 7 bankruptcy liquidation on July 2, two years after being awarded a $400 million stimulus loan guarantee. President Obama personally touted the loan during a 2010 radio address called “A Solar Recovery.” That was during “Recovery Summer,” when the administration shoveled $831 billion into the federal spending furnace, which was supposed to ignite the American economy by creating millions of jobs. Instead, unemployment has been stuck above 8 percent for 40 months, and for many, the American dream has gone up in smoke.

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