The New York Times is reporting: “A House subcommittee released documents on Wednesday morning suggesting that a final review of more than $500 million in loan guarantees for Solyndra, a California solar company that recently declared bankruptcy, may have been rushed so that Vice President Joseph R. Biden Jr. could announce its approval at a groundbreaking two years ago.”
AARON GLANTZ, aglantz at baycitizen.org
Glantz has been covering the story on a daily basis for the Bay Citizen. His articles include: “Partisan Politicking Obscures Growth of Solar Power.”
He said today: “The partisan knife fight around Solyndra’s demise obscures a larger point: that the very economic forces that helped drive Solyndra out of business — namely competition from Chinese manufacturers — are actually contributing to the expansion of solar power in California. Building solar panels in Fremont with government subsidies proved to be a poor means of creating jobs, but the growth of solar as an electricity source continues to accelerate, and that has job-creation (and environmental) benefits of its own.
“Among the most recent developments:
* “Solyndra’s offices were raided by the FBI, it’s current and former CEO interviewed by federal agents.
* “It’s increasingly looking like the CEO lied to members of Congress about the health of the company.
* “Company faces a class action lawsuit from employees who say Solyndra illegally ignored the WARN act, which mandates 60 days notice of layoffs.
* “Company execs are refusing to help local officials find work for laid-off employees.”