Is Konarka Romney's Solyndra?

1. 77

   Mighty Momposted 11 years ago

   Turnabout is fair play, it seems.
   What jumped out at me more than anything was the last part of the last line.
   
   Romney-backed Konarka solar panel firm files for bankruptcy[/]
   
   Posted by Felicia Sonmezat 11:06 AM ET, 06/05/2012
   
   http://www.washingtonpost.com/blogs/ele … ml?hpid=z4
   
   A solar-panel manufacturer that received $1.5 million in state loans during Mitt Romney’s tenure as Massachusetts governor has filed for bankruptcy.
   
   News of solar firm Konarka’s failure comes days after Romney criticized President Obama at the Fremont, Calif., headquarters of Solyndra, the solar company that received $535 million in federal loan money only to go bankrupt late last year.
   
   Republicans have frequently criticized the Solyndra episode as a waste of taxpayer money and an example of what they describe as the Obama administration’s “crony capitalism.”
   
   But the failure of Konarka would appear to leave Romney vulnerable to criticism that he, too, supported government “picking winners and losers” in private industry.
   
   Konarka was among the startups that in 2003 were allotted some $24 million in loans from the Massachusetts renewable energy trust fund, according to The Boston Globe.
   
   At a January 2003 news conference at the company’s Lowell headquarters, Romney argued that the loans would serve as “a major economic springboard for the Commonwealth by focusing on job creation in the renewable energy sector,” The Globe reported.
   
   Despite Romney’s touting of the loans in an event at Konarka’s headquarters, campaign aides argued Tuesday that the loan decision was made in December 2002, before Romney took office, and that the move was made by the director of a “quasi-public” agency, the Massachusetts Technology Collaborative.
   
   Romney’s camp also noted that Konarka received $5 million in state loans under Massachusetts Gov. Deval Patrick (D) as well as $170 million in private capital, and that [b]later during his tenure as governor Romney sought to divert money away from the trust fund.

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      carol3sanposted 11 years agoin reply to this

      There is a lot going on here that we the voters will probably never fully understand.  But given my knowledge of the Solyndra episode, the picture Romney is trying to paint with Obama being irresponsible, and even corrupt in some way, is completely untrue. Romney giving money for the advancement of the energy company Konarka when he was the governor, seems to have been another one of those business decisions that did not fair so well for the government.

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      The Frog Princeposted 11 years agoin reply to this

      Seems that your sources aren't exactly impeccable but then I kind of expect that having also read your Tea Party gig.  The truth of the matter is outlined below for you.
      
      Here’s how the two loans panned out:
      
                                 Obama            Romney
      
      Failed Green Company    Solyndra    Konarka
      “Investment”          $535,000,000    $1,500,000
      Taxpayer Money Lost   $528,000,000    $0
      Years to Bankruptcy       2            9
      Source of Funds             Federal    State
      Loan Repaid?               No            Yes
      Tied to Wealthy Campaign   Yes          No
      Donors?
      
      Lets not be allergic to FACTS.  Konarka isn't even close to being Solyndra. 
      
      The Frog Prince

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         habeeposted 11 years agoin reply to this

         So no taxpayer money was lost with Mitt's venture?

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         Mighty Momposted 11 years agoin reply to this

         My source on the Tea Party post was one of the co-authors of a book exploring the Tea Party and its role in US politics.
         
         Oh, I get it. She's a graduate student at Harvard, so must immediately be discounted as liberally biased.
         Oh wait. Didn't Mitt Romney do graduate work at Harvard?
         Let's see. Rommey has not one, but two graduate degrees from Harvard!
         Guess he must be categorically discounted as a source as well, then.
         

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            Uninvited Writerposted 11 years agoin reply to this

            Some people think a liberal arts college means you go there to learn to be a liberal

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               Mighty Momposted 11 years agoin reply to this

               You mean there is an art to being a liberal?
               I want my tuition back!
               

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               habeeposted 11 years agoin reply to this

               Good one!

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   lovemychrisposted 11 years ago

   Romney used the gvt to "save" the Olympics too...he just does not have enough class to thank them.
   
   And yes--he did the same thing....and there's another one too.
   
   But all he has to do is yell, "Oh Karl.....", and his troubles disappear.
   
   "We're on it Mitt"..."Now, how can we make this Obama's fault? Turn it into a negative on Obama?"
   
   OR--the media will just ignore the story. Repubs NEVER have a 'G-d*m America' moment thrown all over the tv day after day....it just doesn't happen.
   
   AND--the Republican Congress, in NOT helping Obama with Solyndra....ended up helping China! Yes China.
   
   you know, the one the big hero mittens is "standing up to?"...What a Con.
   
   Didn't Mitt outsource jobs to China too? I know he did to India, while he was gvr.
   
   Will that get airplay? Not likely.
   
   The last bastion of mostly free speech is the internet. But--like HAPPILI has done to me: soon the corporations will ruin all of internet as well.
   
   We need a miracle: where the H is that 2-by-4?

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   Xenonlitposted 11 years ago

   This is a great expose, Mighty Mom. Romney is getting away with such gross hypocrisy, blowing with the wind and worse while stupid-Americans just love him.
   
   Here's a little slip made by a House Republican (increasingly becoming dirty words)
   
   http://maddowblog.msnbc.msn.com/_news/2 … yndra?lite
   
   "In other words, Republicans haven't uncovered a "scandal"; they've uncovered a game to play. For those who figured out months ago that this was a manufactured outrage, Jim Jordan just confirmed it."

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      Mighty Momposted 11 years agoin reply to this

      I bet the same crew is still out there investigating Whitewater, too.
      Kenneth Starr isn't retired. He's just behind the scenes going pseudo investigations to sink Democrat presidents.
      
      
      
      Thanks for this Xenonlit.
      Many of us figured out months ago that ALL of this is manufactured outrage.
      Many of us figured out they are like poisoned mercury. Catch them in one lie and they will slither over to the next smoothly and deftly.
      
      I would have thought Obama learned by now that playing nice and rising above doesn't get you anywhere with these people. I can only hope he's holding out the big drones (yes, I did say drones) for closer to November. Don't want to use them too soon and give them time to manufacture yet more faux (news) outrage.

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   habeeposted 11 years ago

   Shame on Mitt!

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   lovemychrisposted 11 years ago

   "The investigation has long since become about hurting Obama's election chances and discrediting clean energy. It's a political disagreement masquerading as a show trial.... [E]veryone knows this, including the journalists who cover it, but you're not really supposed to say so out loud."
   
   That's right. Even the media is in on it...duh. Say liberal media enough and people parrot it...but it's so far from true.
   
   Anti-Obama and Anti-Clean Energy...who's that sound like?
   
   Stalin's boys: Koch Bros.
   
   Read about Operation Gladio...these boys are still around and kicking.

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6. 92

   habeeposted 11 years ago

   Here's the true story, from Politico:
   
   http://www.politico.com/news/stories/0612/77032.html
   
   1. the loan was approved BEFORE Mitt took office
   2. the loan was repaid
   3. Romney tried to defund the loan after he was sworn in
   4. there was no crony capitalism involved
   5. Mitt had no control over the agency that approved the loan
   
   BIG difference in Konarka and Solyndra!

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7. 76

   lovemychrisposted 11 years ago

   Yeah...Konarka wasn't deliberately killed to hurt a president they hate.
   
   "HONG KONG — The bankruptcy of three U.S. solar power companies in the past month, including Solyndra of California on Wednesday, has left China’s industry with a dominant sales position, almost three-fifths of the world’s production capacity and rapidly declining costs."
   
   Repub Congress, who would not approve the funds.
   
   Oh, and:
   "Democrats pointed out that the program from which Solyndra received the loan guarantee was signed into law by President George W. Bush, but Romney countered that Obama’s administration approved the Solyndra deal itself."
   
   So--what's the difference?? Because Obama agreed with Bush? Tar and feather him, like you all did with TARP--which was also Bush.

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8. 76

   lovemychrisposted 11 years ago

   Of course not...he's a man.

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