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View Full Version : Obama The magic touch. Another Obama success story declare bankruptcy


HonestChieffan
08-31-2011, 10:22 PM
When the big O talks about his new jobs program Thursday or whenever they finally do it, if the NFL doesn't ask for a change or something, I wonder if he will bring up the great successes of his green initiatives....

(NBC News) ó President Obama faces political catastrophe in the form of Solyndra ó a San Francisco Bay area solar company that he touted as a gleaming example of green technology. It has announced it will declare Chapter 11 bankruptcy. More than 1,100 people will lose their jobs.

During a visit to the Fremont facility in spring of 2010, the President said the factory ďis just a testament to American ingenuity and dynamism and the fact that we continue to have the best universities in the world, the best technology in the world, and most importantly the best workers in the world. Ē

Itís not his statements the administration will regret; itís the loan guarantees. The President was celebrating $535 million in federal promises from the Department of Energy to the solar startup. The administration didnít do its due diligence, says the Government Accountability Office. ďThereís a consequence if you donít follow a rigorous process thatís transparent,Ē Franklin Rusco of GAO told the website iWatch News.

The President touted the federally back money as a way to create jobs. The Presidentís opponents immediately jumped on the deal as Solyndra made its first layoffs.

mlyonsd
09-01-2011, 06:04 PM
This was the third solar U.S. solar company to file for bankrupty in the last month.

My advice to the president is don't ask for more stimulus dollars next Thursday for green companies that can't compete with competition overseas.

http://www.reuters.com/article/2011/08/31/us-solyndra-idUSTRE77U5K420110831

vaporizadordelmerd
09-01-2011, 06:36 PM
Green jobs is the wave of the future!

alnorth
09-01-2011, 07:58 PM
"Green jobs" has been one of the biggest load of crap scams foisted upon us. I'm not opposed to some moderate investment in alternative energy, if it is economical and makes sense, but don't pretend that green power manufacturing will be some kind of booming economic powerhouse for us, because China rules the world in cheap labor. Whatever we make, they can make cheaper.

NaptownChief
09-01-2011, 09:11 PM
Green jobs is the wave of the future!


Green jobs and the running QB are the wave of the future...and always will be. :D

Baby Lee
09-01-2011, 09:29 PM
Spent an entire semester devoted at a senior thesis level to finding a marketable residential solar solution. Best we could get, with 25 senior electrical engineers competing for grades, was 14-20 years ROI, and 60% of funding came from Federal and Ameren rebates/subsidies.

Solar panels are too expensive to compete, but the real sticking point was the cost and life cycle of inverters.

Solar panels produce DC power. Inverters are needed to turn that DC power into AC power. And that AC power must comply with IEEE standards regarding harmonics. A turbine generator is a great machine for producing a clean sine wave. Magnets are fixed, RPMs are controlled by controlling pressure flow, and there you have good sine wave power. DC to AC conversion requires a shit ton of Laplace transforms leading to an amalgam of capacitance, inductance, FETs and gates to 'approximate' clean sine power. All of those electrical harnesses wear out exponentially more quickly than a flywheel or pressure control devices.

Inverters take up about 50% of solar installation cost, regardless of scale, and usually have a 10-15 year life cycle. So imagine if you buy a $100K house and you have to pony up for $50K in repairs in 10 years, and another $50K in 20, and so on and so on.

HonestChieffan
09-01-2011, 11:15 PM
Where did the stimulus money go?