A new Reuters story talks about the staff mutiny at Solyndra in the days leading to Obama's infamous visit to the plant.
The company had received a $535 million federal loan guarantee in 2009 and was held up by the Obama administration as an example of how it could help create green jobs.---
Behind the scenes, Kaiser's Argonaut Private Equity was trying to right the flailing company. "To put it bluntly our poster child of private equity is acting up something fierce," a senior official from the George Kaiser Family Foundation said in an internal e-mail dated May 8, 2010, warning Solyndra's long-term business plan was in jeopardy.
The new emails highlight how the government backed a company that was in trouble from its early stages, giving more fuel to critics who believe the government threw good taxpayer money after bad.
Energy Secretary Steven Chu's top adviser on stimulus projects brushed aside White House questions about financial red flags ahead of Obama's May 25 visit.
In other news, as Obama keeps on running from his radical past, more and more indications of his true colors surface. Here is one more tie between him and the Marxists:
While addressing a gathering of the international communist front World Federation of Democratic Youth, in Lisbon Portugal, November 10, 2011, Young Communist League USA organizer Lisa Bergmann, boasted of communist leadership in the US “Occupy” movement and their desire to harness the movement to the re-election campaign of President Barack Obama.
When Marxists everywhere, from the CPUSA to the labor unions, are lockstep behind you, how can anyone deny that you are not sympathetic to their ideology?
Another Obama campaign cash bundler who has benefited from the Obama crony cash machine has surfaced. Abound Solar backed by bundler/investor Pat Stryker is the latest addition to a long list highlighted by Solyndra, SunPower, Evergreen, etc., etc. This time, the amount is $400 million. What is a few hundred million here and there among friends, right?
Congressional Republicans are pushing hard to eventually defund NLRB (Craig Becker's outfit that sued Boeing on behalf of the labor union for moving an assembly facility from the union friendly state of Washington to the right to work state of S. Carolina). The push back by union friendly Democrats has started.
Speaking at a forum sponsored by the AFL-CIO, the nation’s largest labor federation, Rep. George Miller (D-Calif.) said efforts to defund the labor board and reduce its power amount to an attack on workers’ rights.Also, on Wednesday, the NLRB voted to change the rules to benefit labor unions.
Workers of the world, unite! Ooops, I forgot...they are all busy with Occupy whatever!
The inner workings of the incredibly radical - not to mention corrupt and inept - Obama Administration is highlighted once again. Based on the Obama administration’s latest document dump of visitor logs, convicted fraudster and community organizer Robert Creamer (architect of the Democrats’ political strategy for imposing Obamacare) has visited the White House sixty times since January 2009–five times in August 2011 alone. Creamer’s efforts this fall to promote the Occupy Wall Street movement and to target Bank of America in particular makes one wonder how involved is the Administration in directing the Occupy movement. Remember as well that the labor unions, especially AFL/CIO (head of which have been visiting/conferencing with the White House almost on a weekly basis) are the main influence behind the movement.
Finally, on the economic front, the Commerce Department cut its estimate of third quarter GDP growth from 2.5% to 2%.
On Friday, however, there was what seemed - at first glance - to be some good news. The nation's unemployment rate has gone down from 9% to 8.6%. Before you get overly excited, however, let me point out that:
1) Seasonal (and temporary) hiring starts around mid October. Come February, many of those new hires will be let go.
2) The U3 data does not include those who have dropped out of the labor force. Despite 120K new jobs, the reports indicate that over 315K workers dropped out (thus stopped being counted as unemployed). The translation is that U6 probably increased by a few tenths of a percent!
...And the Obama disaster chugs along!