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Sunday, September 18, 2011

When Yours Is a 'Green' Company ...

... and that company's mission is not to build stuff but to seek more federal loans in order to stay afloat, you've got a problem.

I wonder if this is commonplace in the solar panel and electric car sectors.  If so, their mission has become impossible now that the Tea Party is taking over and Daddy Enviro Bucks is being kicked out of Washington:
Solyndra Spent Liberally to Woo Lawmakers Until the End, Records Show
By John McArdle, New York Times

The 1,100 full- and part-time employees who were abruptly laid off two weeks ago aren't the only ones whose paychecks have been affected by the sudden and dramatic failure of bankrupt solar energy company, Solyndra Inc.

Because for its brief lifespan, Solyndra proved to be pretty good for the lobbying community.

According to records filed with the Clerk of the House and a search of disclosure forms compiled by the Center for Responsive Politics, Solyndra spent nearly $1.9 million on lobbying activities over a period of 43 months from 2008 to 2011.

About $1 million of that was earned by the company's two in-house lobbyists, Joseph Pasetti and Victoria Sanville, over an 18-month period from 2010 until this year. But Solyndra has also had several big-name lobbying shops on its payroll, including established powerhouses Dutko Worldwide and Holland and Knight, which began representing the then-fledgling company in 2008.

By 2010 Solyndra had hit its lobbying peak. Not only had the company begun paying its own in-house lobbyists but it was also working with nine other lobbyists at three different agencies including McBee and two others, the Washington Tax Group, which had been brought on board to handle the company's interest as it related to the Solar Manufacturing Jobs Creation Act that was up for consideration, and McAllister and Quinn, which was handling the company's interests on the National Defense Authorization Act. [link]
It's funny.  I was thinking about former Congressman Rick Boucher this morning (I have no idea why) and the organizations that depended on his largesse (with our money) for their sustenance.  With Morgan Griffith* representing us, they can kiss the earmark income goodbye.  How will they survive?

Anyway, this breaking Solyndra story is unmasking what may be a massive fraud in which all those fledgling "green" companies around the world are only in existence with the plentiful help of the United States taxpayer. And they know it.  And they work mightily to have lobbyists stroke lawmakers in order to keep their enterprises afloat.

Is it any wonder that this country's economy is in such a mess?

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* Representative Morgan Griffith (R-Southwest Virginia) gets an honorable mention in the New York Times article cited above.  One of many he's gotten in recent days.  The man is making us mighty proud.