Another Goverment Backed Solar Company Fails

Amonix

Amonix closes North Las Vegas solar plant after 14 months, heavy federal subsidies - Business - ReviewJournal.com

From the above article:

"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."

So Bush gave them $15.6 Million and this is Bushes fault according to the DOE and reported by the media.

So $15.6 wasted, right?

Well here is what the DOE press secretary failed to mention and the media seems to be avoiding....

DOE Offers $91M Loan Guarantee for Cogentrix

May 2011:
"The U.S. Department of Energy said Tuesday it’s offering a conditional commitment for a $90.6 million loan guarantee to build a solar power plant in Colorado that will use a hybrid of mirrors and solar cells."


I have lost count of the failed 'green' companies that got DOE loans. It seems almost weekly.

And it seems they took the money and ran....literally....

Another Solar Power Company Lays off Hundreds of Workers | TheBlaze.com

“Just seven months after California-based solar power company Amonix Inc. opened its largest manufacturing plant, in North Las Vegas, the company’s contractor has laid off nearly two-thirds of its workforce,” reports the Las Vegas Sun.
“Flextronics Industrial, the Singapore solar panel manufacturer that partnered with Amonix to staff the new $18 million, 214,000-square-foot plant, laid off about 200 of its 300-plus employees Tuesday,” according to the report.


...

Many critics contend that no normal, long-lasting business would operate in this manner. Indeed, the time and money it would cost to hire and train new employees (once that market “demand” goes up) would far outweigh the cost of, say, scaling back current employee’s hours.

...

“They were temporary employees brought in to handle a major project,” she said.


Wait. Two-thirds of the company’s workforce was “temporary”?

And people are talking about what happened at Bain 14 years ago?

DOE.......Epic Fail.