This whole Solyndra* business just burns me up. Over half a BILLION dollars went to pay off one of Obama’s cronies (others have received high profile jobs in his Administration, others have gotten money funneled to their companies, as I have noted previously). Solyndra going bankrupt shortly after getting a ton of our money is infuriating. Especially since the government (intentionally?) failed to do with it what it has traditionally done with companies to which it lends money – put the USA at the top of the creditors list. Never mind that the DOE knew it was a bad risk. Nope, not Solyndra – its leader was an Obama crony, so forget all those pesky little details. Joe Biden was, um, ecstatic about the loan (eww).
And now this. Solyndra was apparently busted for busting up a bunch of brand new stuff. Seriously. They were destroying it, according to this CBS article from San Francisco:
[snip]Forklifts brought one pallet after another piled high with the carefully packaged glass. Slowly but surely it all ended up shattered.
And it’s not a few loads. Hundreds of thousands of tubes on shrink-wrapped pallets will meet a similar demise.
Solyndra paid at least $2 million for the specialized glass. A CBS 5 crew found one piece lying in the parking lot. Solyndra still owes the German company that made the tubes close to another $8 million.
And they are DESTROYING these materials? Yep. They claim, according to the article, that it is too expensive to pay for storing the glass. And they added this:
[snip]An employee for Heritage Global Partners, the company in charge of selling Solyndra’s assets, told CBS 5 they conducted an exhaustive search for buyers but no one wanted them.
But how exhaustive was that search? The tubes were never included on the list of Solyndra assets put up for sale at two auctions last year.
If they were, David Lucky told CBS 5 he would have bought them. “We certainly would have bid on them, yes,” Lucky said.[snip] (Click here to read the rest.)
Instead, millions of dollars worth of glass being shattered to smithereens and thrown away. Brilliant.
Oh, and the German company who made the glass, and who are still owed a pretty penny (though apparently, $8 million just isn’t that much to some folks)? They had no idea the glass was being destroyed, according to the article. To use the acronym for Obama’s new campaign, WTF?
It just goes from bad to worse with Solyndra. They are LITERALLY throwing our money away. Unbelievable. And the band plays on. Or is it Obama campaigns on…
*I have written extensively about Solyndra. If you need or want any more background information on Solyndra, our “loan” to them, the emails from the White House to the DOE, this is the first one, here’s another one, or this one, just to list a few. All 18 of them are available in the archives.