Solar Company Scraps Expansion Plans, Layoffs 150 Workers
FREMONT (CBS) Nov. 10, 2010 — A highly-touted Fremont solar company has scrapped its expansion plans. Instead, Solyndra will be laying off 150 workers. The expansion plans were touted by President Barack Obama when he visited the company in May.
“When it’s completed in a few months, Solyndra expects to hire a thousand workers to manufacture solar panels
and sell them across America and around the world.”Solyndra, which received a $535 million loan guarantee from the federal government, is projecting strong sales next year.
Did Obama Administration Cut Corners For a Green Energy Company?
Obama Bundler George Kaiser
FREMONT (ABC News) May 24, 2011 – Kaiser’s Argonaut Private Equity and its affiliates were the largest shareholder of Solyndra as it pushed for the IPO. Kaiser’s firm remains a “significant financial backer of Solyndra,” Solyndra spokesman David Miller confirmed. The Oklahoma oil magnate hosted a 2007 Tulsa fundraiser for Obama and regularly visits White House staff, visitor logs show.
George Kaiser did not respond to interview requests made through Solyndra, and his Kaiser-Francis Oil Company in Tulsa said he declined comment. Solyndra’s Miller said political ties had no bearing.
“We do not believe there was any connection at all,” said Miller. “We have created a substantial number of jobs with Solyndra and we’re very proud of that. I think people are missing a lot of the story getting into the politics.”
He said the company first applied for funding under the Bush administration, though it won it under Obama at a time the commercial financing market was dry.
"But I will not let myself be reduced to silence."
