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Old Jun 29, 2012, 08:31 AM
Reserved Parking
P-51C's Avatar
Joined Jun 2004
926 Posts
Another Obama backed solar company costs the taxpayers;

"Abound Solar Inc., a U.S. solar manufacturer that was awarded a $400 million U.S. loan guarantee, will suspend operations and file for bankruptcy because its panels were too expensive to compete.

Abound borrowed about $70 million against the guarantee, the Loveland, Colorado-based company said today in a statement. It plans to file for bankruptcy protection in Wilmington, Delaware, next week.

U.S. taxpayers may lose $40 million to $60 million on the loan after Aboundís assets are sold and the bankruptcy proceeding closes, Damien LaVera, an Energy Department spokesman, said in a statement today."

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Old Jun 29, 2012, 08:48 AM
I want to go flying!
BE77 Pilot's Avatar
Joined May 2010
414 Posts
More of mr obama's boyz getting their cut.
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Old Jun 29, 2012, 09:00 AM
Unrepentant Paragon addict
LVsoaring's Avatar
United States, OK, Moore
Joined Jan 2006
2,558 Posts
just saw this on Communist News Network. Good job libs! You guys are number one when it comes to flushing money down the crapper!
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Old Jun 29, 2012, 09:03 AM
Libertas in Infinitum
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Houston Ellington, Texas, United States
Joined Feb 2001
312 Posts
Venture Captialism is yet another thing Government does poorly.
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