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Latest George Kaiser Items
Bankrupt solar panel maker Solyndra LLC defended its reorganization plan Monday against mounting criticism from the federal government, while launching a legal offensive against Chinese solar companies over what it deems unfair trade practices.
The Internal Revenue Service urged a bankruptcy judge to reject solar panel maker Solyndra LLC's bankruptcy plan Wednesday, saying it amounts to little more than an avenue for owners of an empty corporate shell to avoid paying taxes.
Two investment companies stand to receive hundreds of millions of dollars in tax breaks under a bankruptcy exit plan for failed solar company Solyndra, government lawyers say.
A top White House adviser received clear notice that solar panel maker Solyndra Inc. faced a "severe liquidity crisis" even before a controversial restructuring allowing investors to recoup money from the now-bankrupt company before taxpayers, documents released Thursday show.
The former Treasury Department official who oversaw a review of the Obama administration's energy loan program on Tuesday defended the decision not to review bankrupt Solyndra LLC as part of his audit.
House Republicans accused the White House on Thursday of stonewalling a congressional probe into the failed $535 million loan guarantee to bankrupt solar panel maker Solyndra LLC, and threatened to issue subpoenas later this month to secure interviews with "key administration staff."
Fast running out of money, solar-panel maker Solyndra LLC last summer sold off nearly $60 million worth of inventory for less than $20 million in cash to a newly formed corporate entity closely tied to the company's biggest investors, records show.
President Obama said in his State of the Union address that one of the American values that must be reclaimed is "an economy where everyone gets a fair shot, and everyone does their fair share, and everyone plays by the same set of rules." For three years, he and his political allies have been undermining this vision. They see government as a means of rewarding their friends and punishing their enemies. For the Obama circle, rules apply only to other people.
Disturbing revelations continue to emerge about how more than half a billion dollars of taxpayer dollars were shoveled into the Solyndra solar-panel boondoggle. It is becoming increasingly clear that the only "green" involved in this scandal is money.