The following article was originally published by A Conservative Teacher on Wednesday, November 16, 2001.
Obama Administration Pressured Solyndra to Delay Layoffs Until After 2010 Election
Solyndra’s chief executive warned the Energy Department on Oct. 25, 2010, that he intended to announce worker layoffs Oct. 28. Solyndra was bleeding cash and quickly going bankrupt, and the only thing that would possibly save the company, bring confidence to investors, and help protect taxpayers heavy investment in the company would be quick action in trimming its workforce and shutting down factories. It was an economic decision that needed to be made.
But Democratic President Barack Obama disregarded all of those things and made a political decision and urged officers of the struggling solar company Solyndra to postpone announcing planned layoffs until after the November 2010 midterm elections. He didn’t want citizens to pick up on the fact that he used his clean energy initiatives to steer valuable taxpayer money to benefit his friends and donors, all under the oversight and supervision and approval of a Democratic Congress that was about to suffer historic losses to to their historic bad governance of the nation’s finances.
President Obama made a political decision to bring pressure to bear on private companies to hide their financial position and continue to go further into debt until there was no hope left but bankruptcy and ruin. In many ways, Solyndra is a metaphor for his plan for America- cover up the true reality of the destruction that his policies are doing to our nation and put off crucial economic decisions in a desperate attempt to hold tight to political power.
From the Washington Post article “Solyndra: Energy Dept. pushed firm to keep layoffs quiet until after midterms“:
The Obama administration urged officers of the struggling solar company Solyndra to postpone announcing planned layoffs until after the November 2010 midterm elections, newly released e-mails show.
Solyndra, the now-shuttered California company, had been a poster child of President Obama’s initiative to invest in clean energies and received the administration’s first energy loan of $535 million. But a year ago, in October 2010, the solar panel manufacturer was quickly running out of money and had warned the Energy Department it would need emergency cash to avoid having to shut down.
The new e-mails about the layoff announcement were released Tuesday morning as part of a House Energy and Commerce committee memo, provided in advance of Energy Secretary Steven Chu’s scheduled testimony before the investigative committee Thursday.
Solyndra’s chief executive warned the Energy Department on Oct. 25, 2010, that he intended to announce worker layoffs Oct. 28. He said he was spurred by numerous calls from reporters and potential investors about rumors the firm was in financial trouble and was planning to lay off workers and close one of its two plants.
But in an Oct. 30, 2010, e-mail, advisers to Solyndra’s primary investor, Argonaut Equity, explain that the Energy Department had strongly urged the company to put off the layoff announcement until Nov. 3. The midterm elections were held Nov. 2, and led to Republicans taking control of the U.S. House of Representatives….
I’ve written about Solyndra or related topics before- check out my posts Data Reveals that SunPower Employees Donated to Democrats, then Got Massive Loans or Executives as Investors-in-Chiefs: A Bad Idea?