Another Obama backed solar company costs the taxpayers; - RC Groups
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Jun 29, 2012, 09:31 AM
Reserved Parking
P-51C's Avatar

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."
Jun 29, 2012, 09:48 AM
BE77 Pilot's Avatar
More of mr obama's boyz getting their cut.
Jun 29, 2012, 10:00 AM
It's gonna be YUGE!!!
LVsoaring's Avatar
just saw this on Communist News Network. Good job libs! You guys are number one when it comes to flushing money down the crapper!
Jun 29, 2012, 10:03 AM
Libertas in Infinitum
logan5's Avatar
Venture Captialism is yet another thing Government does poorly.

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