Another obama energy company goes belly up...

billc

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And another one is about to go under...

http://www.breitbart.com/Big-Govern...n-From-Obama-Admin-On-Verge-of-Going-Belly-Up

[h=2]The Obama campaign unveiled a new “Betting on America” slogan today, but there is increasing evidence that all his administration has done is bet on cronyism.[/h]The Obama administration made a disastrous, reckless, and failed bet on the green energy company Solyndra.
And now, according to a report by the Washington Times, a geothermal energy company to whom the Obama administration gave a $98.5 million loan guarantee is in serious financial trouble and the “company’s auditors have questioned whether it can stay in business.”
Nevada Geothermal Power (NGP) “has substantial debts and does not generate enough cash from its current operations after debt-service costs,” according to an internal audit seen by the Times.
“The company’s ability to continue as a going concern is dependent on its available cash and its ability to continue to raise funds to support corporate operations and the development of other properties,” NGP auditors said, according to the Times.
Sen. Harry Reid (D-NV) and Energy Secretary Steven Chu, who is also largely responsible for the Solyndra disaster, lobbied for the loan guarantee, which Reid once said would “put Nevadans to work.” However, a recent report by the House Oversight Committee and Government Reform Committee found the loan “did not help create a single job.”
 

WC_lun

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This from the web site that was critisizing Obama for going to France this Fourth of July. You really need a reliable secondary source and a real link to the administration.
 

elder999

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Steve

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Washington times isn't a reliable new source?
It's a well known right wing new outlet. Think "liberal media bias" but substitute conservative for liberal. It's like the yin to the LA Time's yang.

My first thought in reading the headline for this was, "Obama had stock options in this energy company just like Cheney had stock options in Haliburton? Damn, that is bad."
 
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billc

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No, Cheney had stock options using his own hard earned money, obama is throwing billions of dollars of "our" money into these rathole, green energy boondoggles, that pass on some of that money back to his campaign through campaign donations...big difference.

a geothermal energy company to whom the Obama administration gave a $98.5 million loan guarantee is in serious financial trouble and the “company’s auditors have questioned whether it can stay in business.”

As to Breitbart and the story about the obama campaign and paris...The actual story from Breitbart, and no mention of the obama's goiing to France, but their campaign...looking for foreign donations...

http://www.breitbart.com/Big-Hollywood/2012/06/29/Obama-European-campaign-July-4

[h=2]Apparently tiring of US soil as a source of campaign dollars, the Obama campaign is headed overseas -- with its celebrity friends in tow. The European Obama campaign starts next week in Paris on July 4 with a reception organized by various fundraising heavy-hitters. Independence Day fundraisers in Paris – now that’s a flag-waving campaign.[/h]

The Obama campaign will host events in Geneva, Switzerland in August as part of their “European outreach effort.” George Clooney will headline a fundraiser there, with 150 tickets going for $20,000 per piece. There’s even more to the bargain: if you go as a couple, the second ticket is half-off!


With the Obama campaign’s increasingly desperate campaign emails begging for cash from the American people, perhaps the campaign thinks they’ll find more fertile soil outside the country. Especially in the aftermath of the Supreme Court ruling that upholds Obama’s European-style healthcare plan, Obama’s hoping to cash in on like-minded folks abroad. Americans don’t believe that Obamacare is a triumph; they see it as a massive net negative, sucking our coffers dry and handing us long-term rationing in return. Europeans, however, know nothing else. The entitlements have already kicked in. What better place to ask for campaign cash?


That also may be the only place Obama can still find cheering throngs.


 

Master Dan

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This from the web site that was critisizing Obama for going to France this Fourth of July. You really need a reliable secondary source and a real link to the administration.

This guy has no interest in reliable sources just like FOX I think he is a paid GOP mouth piece I am going back to Men in Black all the real news is in the check stand Enquirer
 

Master Dan

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Sad truth we are way to far behind with out a major intervention from our government just like in WW11 to increase production regardless of profit to capture the market it is too late now the Chinese and Germans are just to far ahead competing unfairly. I was part of a group the most experience engineers and investor group who met privatly with the house chairman in 1990 and told them they needed to step in on bandwidth and manufacturing digital fiber optic cable and all related hardware or it would all be made by Japan and others and some day you would pick up the phone and all your communications would be going through thier equipment and switching in Japan well guess what most of it is.

Companies are going to fail with out real intervention to give us a step up on research and manufacturing but oh no free enterprize corporations are people too deregulation tax breaks fine give them what ever it takes to make it all here and undersell our competitors. But I think it is too late. We typically invent here prototype here but manufacture offshore been that way since the 80's how we gonna bring that back Romney or for you other challenged like me Roney?
 

Master Dan

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This guy has no interest in reliable sources just like FOX I think he is a paid GOP mouth piece I am going back to Men in Black all the real news is in the check stand Enquirer
WEll ne will tell you they said Campaign not Obama but that was after they got caught then reported real truth a new tactic now by right wing opposition say anything that feeds the frenzy then quietly expand or publish the truth but damage is done facts mean nothing to him or others like him they will just pile it on and on we can only hope there is enough sane people left to vote if they can vote now to change this but if Obama does not get a real mandate with true demcratic majority at all levels including states we will just have 4 more years of fighting and grid lock in washington sad to say as bad as it looks many are going to hold thier nose and vote Romney and others just like Germany in Hitlers day hoping for a job and money
 
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billc

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Master Dan, even the DailyKos attack piece against Breitbart.com on the story...links to the story I posted above. You know, the one that says the campaign, and george clooney were going to france. It doesn't mention obama going. Now this is from the dailykos, so....

http://www.dailykos.com/story/2012/...esident-will-be-in-France-July-4-but-he-won-t

"Obama Campaign celebrates Independence Day ... with fundraiser in Paris" says the lead story (in capitol letters) right now on Breitbart.com.

This link above
is from the dailykos story and links directly to the story I showed you.
 

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