Solyndra made solar panels, a green energy dream company. Obama saw that they got a $500 million dollar loan from the taxpayers. The company has now shut down and has laid off over a thousand employees and the taxpayers are on the hook for a half billion dollars.
Solyndra used a different technology from the polysilicon used in other solar panels. They used cylinders (hence the name) coated with chemicals. It proved more expensive to manufacture as the price of polysilicon plummeted. Solyndra’s price per megawatt became multiples of the traditional panels. When you lose money on every sale you cannot make it up with more volume.
There was already a market for solar panels, and the market has picked polysilicon panels. Obama picked the losing technology and used your money (our money) to do it. It did not cost one thin dime out of his pocket. There were other investors in Solydra that lost money, but it was their money. This is how markets are supposed to work.
Meanwhile, Boeing has spent billions to bring new jobs- real jobs- to South Carolina. They are using their money. But the NLRB has blocked their effort in the name of saving union jobs in another state, yet there is no loss of any union jobs in that state. These are additional jobs. By making it hard to create jobs in a right to work state they hope to create more union jobs in union friendly states. What they are more likely to do is create an incentive to create jobs overseas where such companies as Boeing don’t have to put up with such bullshit.
The House has just passed a bill forbidding the NLRB from interfering with the location decisions of private companies. It remains to see if the Senate will pass it, or even consider it. If they do, the President will be forced to take a stand on the NLRB issue. He could have, and should have already.
These two companies are clear examples of why Obama has lost all credibility on creating jobs. His absolute inexperience in the private sector and his undying faith in the government to solve all problems has made a bad situation worse. His ‘public-private’ partnership with Solyndra has proved the axiom, “whenever you get in bed with the government, somebody gets screwed.”