Another Obama Investment Goes Belly Up

From the Las Vegas Review-Journal:

The Amonix solar manufacturing plant in North Las Vegas, heavily financed under an Obama administration energy initiative, has closed its 214,000-square-foot facility 14 months after it opened…

…A designer and manufacturer of concentrated photovoltaic solar power systems, Amonix received $6 million in federal tax credits and a $15.6 million grant from the U.S. Department of Energy to open the plant in North Las Vegas…

If it was a worthwhile investment then private investors would have ponied up the money for it – that it took a massive, federal grant to get it off the ground demonstrated that it was doomed to failure from the start.  But Obama backed it – just like he did Solyndra and other failed “green jobs”.  And if he’s re-elected he’ll just go right on funding them…because he’s an utter fool who doesn’t know what he’s doing.

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29 thoughts on “Another Obama Investment Goes Belly Up

  1. GMB July 18, 2012 / 7:35 pm

    “because he’s an utter fool who doesn’t know what he’s doing.”

    I wonder how many conservatives believe this statement? A lot it would appear. And this state and it’s believers could not be more wrong if they tried.

    barky will do anything in his power to knock this country down as many pegs as he can while he is in office and the sooner you folks realize that the better. He has absolutely no interest in maintaining traditional American values.

    He means to turn The United States into another third world hell hole and he will do anything to accomplish it.

    Fool? Who is more foolish. Him or the idiots that elected him? Doesn’t know what he is doing? HA!!! He knows exactly what he is doing and getting people to excuse his behavior is one of them.

    It is time to quit making excuses. It is time to start opposing him with everything we have to offer. It is time to ignore the msm. It is time to quit fearing being labeled a racist or whatever.

    • Mark Edward Noonan July 18, 2012 / 8:09 pm

      I realize that Obama thinks he’s doing the best thing and that he’s trying to succeed in achieving his vision…but the vision he has is false and he’s too stupid to realize failure when it happens.

      • GMB July 18, 2012 / 8:43 pm

        “but the vision he has is false and he’s too stupid to realize failure when it happens.”

        I think you are deadly wrong on this assumption. He is not a stupid person. He is a devotee of the cloward-piven school and has done his utmost to us closer to that collapse.

        Ever single eo, every single policy implemented by barky and his gang is getting The United States closer to their desired goal.

        More people out of work. More people on food stamps and disability. Trillion dollar deficits. Defense cut to bare bones and worn down by fighting.

        How much longer will we last before the collapse comes?

        Sure you go ahead and think barky is misguided, stupid, a failure, or what ever.

        If cloward-piven end game is the goal, and I will say that it is, barky has been been a spectacular success.

      • Mark Edward Noonan July 18, 2012 / 10:11 pm

        GMB,

        I think I’ll stick with “stupid”. Its part of a new phase in my life – a determination to fearlessly speak what I believe is the truth as established by the facts. Liberals can create a “Cloward-Piven” strategy to bring forth a systemic collapse which they believe will usher in socialism and they can probably believe that (a) the current system is inherently bad and (b) their socialist replacement will be inherently good and that (c) any amount of suffering which brings this socialist replacement in to being is worth it but I’ll still just say, “stupid”, to it all.

        I mean, seriously, you’ve got to be one monumental idiot to actually believe what Cloward and Piven believe. Double that if you read what they want and then try to bring it in to existence. To be any variety of socialist a person has to be ignorant of history, ignorant of theology and ignorant of how useful things (making, mining and growing) are accomplished. Armored in this invincible ignorance, our lefties sally forth to do battle – and they do quite a lot of damage and can sometimes be wickedly effective in getting their way…but stupid they were, are and always will be.

      • GMB July 18, 2012 / 10:41 pm

        Mark, I do agree with on what they want being stupid. With as many examples of socialistic failure around the world as there is, it should be self evident.

        They believe they will get it right time, We need to quit making excuse and realize that they are working towards their goal with everything they have.

        We need to work towards our goals with the exact same attitude.

      • Diane Valencen, D.S.V.J., O.Q.H [Journ.], ArF J., M.F. July 19, 2012 / 12:24 am

        If this was a company that started up as a result of the ARRA and used the stimulus as its only source of seed money I could see your point Mark, But since the private investment in just this facility was $12 million and the company started in 1989, not during the Obama administration. You present this as if it is a failure the company is still operating and in 2010 raised $129.4 million in venture capital via Kleiner Perkins, a Bain competitor. Is that private sector enough for you?

      • neocon1 July 19, 2012 / 7:36 am

        Mark

        I disagree, he is the true Manchurian candidate.
        He is an evil,FOREIGN liar who is hell bent destroying this country.

        Where did he come from? who did he study under? who supported him? who bankrolled him? where did he attend school? and IF he did HOW did he manage to get into them?

        How did a complete unknown community agitator become the darling of the mob run chicago crime machine? How did a complete unknown become a US Senator?
        How did a complete unknown 2 year do nothing US Senator with NO background or track record get the nomination?

      • Mark Edward Noonan July 19, 2012 / 8:43 pm

        Diane,

        It got government swag to set up operations in North Las Vegas – Harry Reid was quite enthusiastic about it. If it has just been a private sector failure I wouldn’t have mentioned it – that sort of thing happens all the time. But this was a government failure – more of Obama “investing” our money and losing it.

  2. Rightlane July 18, 2012 / 8:29 pm

    For someone who has such a bad taste in their mouth for capitalism, Obama sure seems to like to play like he’s venture capitalist, as long as he using OPM. My point is, Government can’t mandate commerce occur an industry that has yet to produce a viable product, nor should they speculate on the markets this way with the taxpayers’ money. Venture Capitalist, by definition, have skin in the game, while politicians and bureaucrats do not! Come on November

  3. Bob1 July 18, 2012 / 8:35 pm

    He is not “stupid”. He is exceptionally crafty, a con artist who is confident that there are enough gullible people in America who are not alert enough to realize what he has done and is doing to America. And the MSM continues to urge Romney to reveal more of his tax statements while they ignore all of the student and SS records and birth records that Obama has hidden and falsified. Who has the courage and the authority to confront him?

  4. bloodypenquinstump July 18, 2012 / 9:35 pm

    “If it was a worthwhile investment then private investors would have ponied up the money for it”

    Yep, just like the internet and rural electrification!

    • Mark Edward Noonan July 18, 2012 / 10:01 pm

      I know that ‘Bams is certain that government decreed that the internet be invented but it actually happened because a lot of institutions – government, education and corporate – wanted a means of easily transferring information from one person to another electronically. Government did provide some research money but there never was a thought in government that the internet would develope as it did. I can’t recall the exact details my father told me when the internet first went popular but my father was the first person I ever saw using the internet – the dial up modem with the phone in the cradle kind of thing. He said he had been using it for some time in his work at Lockheed.

      As for rural electrification – it was coming along, anyways, because electric companies wanted to make money. All the TVA did was make the taxpayers responsible for paying the utility companies to extend their profitable power grid in to rural areas.

      • Diane Valencen, D.S.V.J., O.Q.H [Journ.], ArF J., M.F. July 19, 2012 / 12:28 am

        Department of Energy press secretary Jen Stutsman noted that the project had bipartisan support from elected officials, including Republicans Sandoval and North Las Vegas Mayor Shari Buck.

        Amonix was selected for a grant under the Bush Administration’s Department of Energy in 2007, and eventually received a total of $15.6 million under the grant, she said.

        “The global solar industry is facing significant challenges that are impacting solar manufacturers worldwide,” Stutsman said Wednesday from Washington. “Amonix, an innovative solar startup company with strong backing from Republicans as well as Democrats, received a tax credit to expand its American manufacturing operations and help ensure the United States continues to compete for the manufacturing jobs of the future. While today’s news is disappointing, the United States simply can’t afford to cede America’s role in the growing, highly competitive solar energy industry.”

      • Diane Valencen, D.S.V.J., O.Q.H [Journ.], ArF J., M.F. July 19, 2012 / 12:39 am

        “Last year, Amonix CEO Brian Robertson was tragically killed in a plane crash and unfortunately the company was unable to recover from this difficult time,” Reid said Wednesday in an e-mail statement. “Some people will be tempted to use today’s unfortunate news for political gain. But I am hopeful that the bipartisan support for this project and the public-private partnership that helped make this and many other projects possible will not be degraded by dirty energy supporters for their own profit or political gain. The clean energy sector is too important to Nevada’s future and I hope that those that publicly acknowledge this will continue to strengthen the bipartisan support for renewable energy programs and incentives that exists in Nevada.”

      • Amazona July 19, 2012 / 5:55 pm

        Diane, I see you are back. Congratulations on getting through two posts without religious bigotry or accusations of racism.

        Nice commentary on the tax system, by the way.

    • Amazona July 19, 2012 / 5:53 pm

      “Yep, just like the internet and rural electrification!”

      And jacuzzis and gel innersoles and light bulbs and frozen entrees and permanent press and sunblock and disposable diapers and tires and thermometers and fly swatters and plastic wrap and sun roofs and recliners and electric drills and credit cards and Formica and lawn mowers and the water pik and Mr. Coffee and pizza shops and television and bobblehead dolls and drawer glides and CDs and deodorant and frozen orange juice and electric fencing and turkey jerky and Polaroids and baby formula and wheeled luggage and Ray Bans and pink flamingos and garbage disposers and ball bearings and ………..

      And you come up with two things? Both of which were fed to you by even more toxic talking heads and neither of which is accurate or relevant?

      1. The internet was originally a military tool, not a warm fuzzy “let’s help the average citizen out” gimme

      2. Is rural electrification a product? A business? An invention?

  5. Dvindice July 18, 2012 / 11:28 pm

    Amonix solar did not fail by themselves, it took a lot of tax payer money from the government to fail…

  6. bozo July 19, 2012 / 1:04 am

    Dang that Obama is one bada## ninja president. He funded $15.6 million to this company in 2007…and then the CEO dies in a plane crash last year, a tragedy from which the company doesn’t recover. And it’s ALL Obama’s fault.

    Scary, dude.

    • Mark Edward Noonan July 19, 2012 / 8:46 pm

      The factory opened 14 months ago – as I recall, Obama was President at the time and Reid and Berkeley (our Congresscritter here in Las Vegas – soon to be out of office, though, because Reid managed to sucker her in to running for Senate and she’s going to get crushed on November 6th) were big boosters of it.

      And I thought you liberals wanted to end corporate welfare, anyway…

  7. GMB July 19, 2012 / 1:20 am

    “Now, the only problem we have is these credits were working so well, there aren’t enough tax credits to go around,” BHO

    Yeah they were working just great there barky. Working so great the company opened it’s doors under your watch and closed it’s doors under your watch.

    OPM. Get your share now!!!

  8. Jeremiah July 19, 2012 / 1:38 am

    Only one job Obummer is interested in saving, only one…his own!

    • neocon1 July 19, 2012 / 7:40 am

      he is a mulsim doing what islam does….destroy

      • GMB July 19, 2012 / 8:42 am

        And the sooner people realize that the better.

  9. Retired Spook July 19, 2012 / 9:18 am

    I’m detecting a pattern here.

    • GMB July 19, 2012 / 10:21 am

      Spook, until we know when those company’s got their funding, we will have to blame BOOOOOSH!!! We also need to make sure after we have proof that they got their funding from the barky admin that the president of those company’s did not assume room temperature and leave the the rest of their staff quivering lumps of tissue unable to think straight.

      Got to cover all the bases here don’t ya know. Especially when we are dealing with any old bozo just off the turnip wagon.

      • Retired Spook July 19, 2012 / 11:35 am

        Spook, until we know when those company’s got their funding, we will have to blame BOOOOOSH!!!

        GMB, here ya go.

        Abound Solar is a manufacturer of cadmium telluride thin-film photovoltaic modules based in the United States.[1] It owns production facility in Longmont, Colorado. The company was incorporated as AVA Solar in 2007 and was rebranded as Abound Solar in March 2009 (post Boooooosh). In 2010 Abound received a $400 million loan from the U.S. government (also post Boooooosh). In 2012 the company laid off almost half its employees before suspending operations and moving towards a bankruptcy filing.

      • GMB July 19, 2012 / 11:47 am

        Just covering the bases there Spook. Which you have done quite nicely, thank you. 🙂

        Somehow though, I still think that all looney bozos out there will still blame BOOOOSHHH!!! for this.

        Or atms or europe, but never themselves.

      • Diane Valencen, D.S.V.J., O.Q.H [Journ.], ArF J., M.F. July 19, 2012 / 4:50 pm

        AVA Solar got $104 million in private capital in August 2008. A number of well-known venture firms came on for the $104 million funding. DCM led, while new investors Technology Partners, GLG Partners and Bohemian Companies participated, and previous investor Invus came back in. AVA raised its seed less than two years ago and took a second funding in June of 2007, but didn’t disclose amounts for either of those fundings.”

  10. Retired Spook July 19, 2012 / 12:12 pm

    Poor Barry — can’t catch a break. All of his green energy efforts are going down the crapper, and the price of oil is heading back up.

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