In the news today was an announcement that Solyndra of Fremont, California declared bankruptcy and immediately laid off all 1,100 of their employees. This was the company that President Obama visited and touted as an example of his program creating “green” jobs. The US Energy Dept. provided a loan in March 2009 of $535 million to assist in getting started. Secretary Steven Chu promised the loan would create 4,000 jobs. Their product was solar panels. The President and CEO Brian Harrison stated “Regulatory and policy uncertainty in recent months created significant near term excess supply and price erosion”.
On 8/15 Evergreen Solar Inc and on 8/19 Spectra Watt Inc. filed bankruptcy. In Tucson just one week ago Solon Corp. laid off 60 production workers to send the jobs to China.
In China huge factories are being built or are already in existence to produce competing solar panels and other solar products. These are reported to be highly subsidized by the government.
The only comments I have heard from Republicans is to beat up on the President over granting the loan. When will they understand that private manufacturing jobs cannot compete when their competition is underwritten by a hostile government (China).
All the talk about creating jobs is hogwash. Is there no way to get Congress and the President to understand that jobs will continue to disappear all the while they debate.
Hello, hello, hello, are you up out of bed yet.
Jack B. Walters
August 31, 2011
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