Whoops, turns out Governor RMoney had his own bad investment in solar. Konarka Technologies landed a big Massachusetts state loan, and is now going bankrupt:
Romney's own Solyndra
By Vicente Follow Sat, 2 Jun 2012, 2:13pm 1,739 views 16 comments
In Davis CA 95616
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Solar won't work until there's a way to economically store the energy somehow. It's too variable and unpredictable.
Plus natural gas is cheap, and compared to other fossil fuels, pretty clean.
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http://en.wikipedia.org/wiki/Konarka_Technologies
Konarka Technologies, Inc. is a solar energy company based in Lowell, Massachusetts, founded in 2001 as a spin-off from University of Massachusetts.
As of 2006, Konarka has received $60 million in funding from venture capital firms including 3i, Draper Fisher Jurvetson, New Enterprise Associates, Good Energies and Chevron Technology Ventures. [2] Konarka has also received nearly $10 million in combined grants from the Pentagon and European governments, and in 2007 was approved for further funding through the Solar America Initiative, a component of the White House's Advanced Energy Initiative. [3] The company raised a further $45 million in private capital financing in October 2007 in a financing round led by Mackenzie Financial Corporation.
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Vicente says
Perhaps it was from his own personal wealth... like so many others who invest in start ups... really you libs need to brush up on business. Some go well som not, certainly he wasnt the source of using Tax payers funds.
"In August 2001, Romney announced that he would not return to Bain Capital. He transferred his ownership to other partners and negotiated an agreement that allowed him to receive a passive profit share as a retired partner in some Bain Capital entities, including buyout and investment funds."
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just politics from the left after all.. short on facts....
http://www.democraticunderground.com/
Second Romney-Backed Solar Company Files For Bankruptcy
11 hrs ago - Second Romney-Backed Solar Company Files For Bankruptcy By Igor Volsky on Jun 2, 2012 at 4:15 pm On Thursday, Mitt Romney campaigned at the headquarters of Solyndra — the first renewable energy company to receive a federal loan under the stimulus — ... (Think Progress)
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LOL ... yea, it was 2003 - ten years ago - and it was a small portion of the operation. Barry's hand out was turned down by GB. Since the libs blame Bush for everything, maybe they should blame Bush for passing on this bad investment! lol
In the real world, Romney played with investor cash handed over by free will. He made a living.
In the real world, lord barry played/plays with cash forcibly removed from working citizens by threat of law. He lost a mint.
I am not a Romney fan. I am not a solar fan. I not a ceiling fan. lol
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wthrfrk80 says
Yes if only we could somehow eliminate clouds...
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As GOVERNOR OF MASSACHUSETTS he did the same things he says are so bad when Obama does it. Y'all seem to be pointedly ignoring that.
Make loans & subsidies to companies that go belly-up.
Man who lives in glass house, should not throw stones.
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Romney was 70th Governor of Massachusetts (Jan 2003–07).
Funding by Mass was in prior year.
http://www.konarka.com/index.php/company/our-history/
Financial Milestones
December 2002 $1.5 million in venture debt financing from the Massachusetts Renewable Energy Trust
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Circa 2003, Romney was pimping for Konarka & similar:
:" During an event in January 2003 at the headquarters of Konarka Technologies, Romney called for more grants to the renewable energy sector, and diverted money towards those companies, not away from them. “The trust fund has been growing for years, and I believe now is the time to refocus its assets in such a manner that it can become a major economic springboard for the Commonwealth by focusing on job creation in the renewable energy sector,” he said. "
http://thinkprogress.org/politics/2012/06/03/494145/romney-claimed-now-bankrupt-solar-company-would-become-a-major-economic-springboard-in-2003-speech/
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Vinnie, the big difference is timing and the fact that EVERYONE told Lord Barry not to do it!! When Romney made his play it was mid-boom and EVERYONE said it was a great idea. Also, Romney used localized funds for an in-state venture ... Lord Barry, not so much.
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thomas.wong1986 says
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Vicente says
Your boy fucked up! trying to parrot the Democratic Underground crap is useless! What do you expect to come up next, im sure it will also be published by the DU.com.
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Yup says
"Truck driver? I ain't no truck driver. I got me a truck full of cigarettes! I got me and my family enough cigarettes to last the rest of our lives!"
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Dear Cloudy Thinking,
Mitt Romney supported "investment" using public funds, in this solar company which then went belly-up. Are you just constitutionally INCAPABLE of recognizing that there's a clear apples & apples relationship here?
Are you a bot that just spews NeoCon talking points without reading content?
Or do you deliberately ignore FACTS that are contrary to your partisan sniping?
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Cloud says
#1: What is the "only thing" that Obama has "done" and "subsidized"?
If you refer to Solyndra, it's not the only thing, also it wasn't a subsidy it was a loan. Also I should point out many other loans have worked out fine.
From there your failure to refusal to recognize these cases are similar is willful blindness.
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Vicente says
Vincente, you just don't get it.
When Gov. Romney advocates giving public money to private companies, it's to give free enterprise a boost. When Pres. Obama gives public money to private companies, it's a scheme to institute socialism.
This is because Romney is a real rugged American, and Obama is a closet communist Kenyan.