FBI Executes Search Warrants at Solyndra Plant

The Fremont plant shut down abruptly on Aug. 31, filing for bankruptcy and announcing the layoff of 1,100 employees

Bay City News Service —The FBI is executing search warrants this morning at Fremont's Solyndra plant, which announced last week that it was shutting down and declaring bankruptcy.

The solar panel manufacturer said on Aug. 31 that it would lay off its 1,100 workers.

FBI spokesman Peter Lee said this morning that the agency is conducting a joint investigation with the Department of Energy's Office of Inspector General.

He said the FBI is not yet releasing details about the case.

President Obama toured the Solyndra plant last year after the federal government announced that it would grant the solar manufacturer a $535 million loan guarantee using stimulus dollars.

Ima Dawn Baker November 26, 2011 at 05:53 PM
Thanks for your opimion,I'm sure that being one of President Obama's most ardent supporters you're anger must be very upsetting to him. This story ran on September 8th,did it take this long to reach the planet you live on ? Fleeced ? Robbed ? Wastes ? Throws ? Takes ? Manages ? Sure are a lot of descriptive adjectives ! Typical biased uninformed right-wing rhetoric,lots of complaining,but not a single fact to prove they're wild claims ! You idiots should all put your heads together & see if you can come up with one cognizant thought. I'm not pleased with all the things the President has done either (remember a significant amount of those unhappy with Obama in the polls are liberals who come election time will still vote for the lesser of two evils),but my complaints are of a much more specific nature. If you insist on attacking our President the very least you can do is to spend the necessary time needed to become at least a little knowledgeable about the issues you enjoy ranting about. Otherwise you're just another whiner that no one takes seriously. Maybe if you pray hard enough Santa Claus (Santa is Satan spelled sideways) will bring you a nights vacation at Super 8 Motel for Christmas. What the hell if you believe that religious crap,you'll believe anything.
Albert Rubio November 26, 2011 at 08:52 PM
"Who Could Have Predicted that the Solyndra Deal Wouldn’t Work Out? If you answered “the private investors who refused to risk their own money on Solyndra,” pat yourself on the back. One thing that is conspicuously absent from a lot of discussions of policies aimed at creating “green jobs” or providing “affordable housing” is a clear recognition of the information-revealing properties of markets, prices, profits, and losses. The fact that people aren’t willing to put their own money at risk suggests that this or that business plan probably isn’t a very good idea. Interventionism of this sort also involves two inconsistent premises. 1. First, greedy people will do anything to make a buck. 2. Second, those greedy people will leave money on the sidewalk because they are too ignorant to recognize great investments like Solyndra or Associated Steel." http://blog.mises.org/18657/who-could-have-predicted-that-the-solyndra-deal-wouldnt-work-out/
Albert Rubio November 26, 2011 at 08:59 PM
Once again, Economic law asserts itself against those who insist on interventionism and anti-liberal policies to improve the economy. reading "Economics in One Lesson" by Heny Hazlit could cure most of these misguided folk, only of course if the WANT to be cured. "Creation Myth: Governments are worse than no good at “creating jobs.” Matt Welch from the November 2011 issue A week before President Barack Obama was scheduled to deliver yet another big-think proposal to Get America Working Again, reality intervened with a well-timed smack upside the head: Solyndra, a California solar panel company, filed for Chapter 11 bankruptcy." http://reason.com/archives/2011/10/10/creation-myth?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reason%2FArticles+%28Reason+Online+-+All+Articles+%28except+Hit+%26+Run+blog%29%29
Nadja Adolf November 26, 2011 at 10:32 PM
Solyndra was obviously doomed from the beginning; anyone who noticed the expensive, elaborate building with 24 hour construction realized that the capital was being burned as rapidly as possible. Solyndra said the final death blow was the end of German subsidies for solar panels; Solyndra would never have existed without large subsidies to affluent purchasers of solar panels. Unfortunately, the US and other governments were not only subsidizing Solyndra, they were also subsidizing the production of Chinese solar panels, made in a country where there is little environmental enforcement. The main result of subsidies is to end innovation and product improvement; the subsidies determine who the winners are, and competitors are shut out - which lead to high prices for poor products. The market distortions are enormous, and inferior products become the standard.
Nadja Adolf November 26, 2011 at 10:35 PM
Currently we have people protesting the "1%" and expressing outrage over corporate bailouts. We also have unions demanding - and receiving - federal assistance in preventing the opening of new plants in southern states that have "right to work laws." At the same time, we have people applauding the subsidy to Tesla-Toyota in Fremont, where wages and benefits will be significantly below union scale. The unions and those who are allegedly irate over subsidies to big business are silent, or even applaud this move. It seems we all need to sacrifice for the environment - except for the 0.1% who will receive our tax dollars to build and profit from cars for the 1%.


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