Sunday, July 18, 2010

The Stimulus At Work

This is just one reason that the "stimulus" won't work.

By COLIN SULLIVAN of Greenwire
Published: July 7, 2010

SAN FRANCISCO -- A Bay Area solar manufacturer's abrupt retreat last month from an initial public stock offering has analysts questioning President Obama's use of the company as a showcase for federal investments in renewable energy.

Solyndra Inc. enjoyed a national spotlight when Obama visited the company's Fremont headquarters in May to herald it as an example of the federal stimulus at work. The president saluted the solar-panel maker, which received a $535 million federal loan guarantee, as the kind of business that will help the U.S. economy turn the corner (E&ENews PM, May 26).

But the reality is Solyndra has been hemorrhaging cash and decided last month to pull back from an initial public offering (IPO) in favor of raising another $175 million from private investors. That brings its total investment from venture capitalists to $1.1 billion, said Shyam Mehta, a senior analyst at GTM Research.

Facts about the company's financial picture are relatively easy to uncover. In 2009, Solyndra lost $172 million, according to documents filed with the Securities and Exchange Commission. A year before, losses were $242 million.

5 comments:

MAX Redline said...

With all the subsidies required for these kinds of ventures, it's no wonder they're called "green".

KyungBivo中如 said...

在莫非定律中有項笨蛋定律:「一個組織中的笨蛋,恆大於等於三分之二。」. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

KyungBivo中如 said...

這不過是滑一跤,並不是死掉而爬不起來了。..................................................

dawsonfelicia張君dawsonfelicia均 said...

逛街不如逛部落格,省錢又開心啊..................................................................

郭張淑惠致邦 said...

人生中最好的禮物就是屬於自己的一部份............................................................