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Is Solyndra Obama's Whitewater?
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<blockquote data-quote="moreluck" data-source="post: 901450" data-attributes="member: 1246"><p>White House Emails Show Obama Admin Pushed Solyndra To Keep Layoffs Quiet Until After Midterm Elections…</p><p>And they were successful, Solyndra announced the layoffs and plant closing on November 3rd, one day after the midterms.</p><p style="margin-left: 20px">(WaPo) — The Obama administration urged officers of the struggling solar company Solyndra to postpone announcing planned layoffs until after the November 2010 midterm elections, newly released e-mails show.</p> <p style="margin-left: 20px">The new e-mails about the layoff announcement were released Tuesday morning as part of a House Energy and Commerce committee memo, provided in advance of Energy Secretary Steven Chu’s scheduled testimony before the investigative committee Thursday.</p> <p style="margin-left: 20px">Solyndra’s chief executive warned the Energy Department on Oct. 25, 2010, that he intended to announce worker layoffs Oct. 28. He said he was spurred by numerous calls from reporters and potential investors about rumors the firm was in financial trouble and was planning to lay off workers and close one of its two plants.</p> <p style="margin-left: 20px">But in an Oct. 30, 2010, e-mail, advisers to Solyndra’s primary investor, Argonaut Equity, explain that the Energy Department had <strong>strongly urged the company to put off the layoff announcement until Nov. 3. The midterm elections were held Nov. 2</strong>, and led to Republicans taking control of the U.S. House of Representatives.</p> <p style="margin-left: 20px"></p> <p style="margin-left: 20px">“DOE continues to be cooperative and have indicated that they will fund the November draw on our loan (app. $40 million) but have not committed to December yet,” a Solyndra investor adviser wrote Oct. 30. “They did push very hard for us to hold our announcement of the consolidation to employees and vendors to Nov. 3rd – oddly they didn’t give a reason for that date.”</p> <p style="margin-left: 20px"></p> <p style="margin-left: 20px">Harrison went on to state that he would “like to go forward with the internal communication [to employees regarding layoffs] on Thursday, October 28.”</p> <p style="margin-left: 20px"></p> <p style="margin-left: 20px">Harrison’s e-mail was forwarded to program director, Jonathan Silver, who then alerted White House climate change czar Carol Browner and Vice President Biden’s point person on stimulus, Ron Klain. Browner asked for more information about the announcement, and Chu’s chief of staff explained he had left a voicemail message on her cellphone.</p> <p style="margin-left: 20px"></p> <p style="margin-left: 20px"><strong>On Nov. 3, 2010, Solyndra announced it would lay off 40 workers and 150 contractors and shut down its Fab 1 factory.</strong> The department agreed to continue giving Solyndra installments of its federal loan despite the company’s failure to meet key terms of the loan, and in February restructured its loan to give investors a chance to recover $75 million in new money they put into the company before taxpayers would be repaid.</p> <p style="margin-left: 20px"></p></blockquote><p></p>
[QUOTE="moreluck, post: 901450, member: 1246"] White House Emails Show Obama Admin Pushed Solyndra To Keep Layoffs Quiet Until After Midterm Elections… And they were successful, Solyndra announced the layoffs and plant closing on November 3rd, one day after the midterms. [INDENT](WaPo) — The Obama administration urged officers of the struggling solar company Solyndra to postpone announcing planned layoffs until after the November 2010 midterm elections, newly released e-mails show. The new e-mails about the layoff announcement were released Tuesday morning as part of a House Energy and Commerce committee memo, provided in advance of Energy Secretary Steven Chu’s scheduled testimony before the investigative committee Thursday. Solyndra’s chief executive warned the Energy Department on Oct. 25, 2010, that he intended to announce worker layoffs Oct. 28. He said he was spurred by numerous calls from reporters and potential investors about rumors the firm was in financial trouble and was planning to lay off workers and close one of its two plants. But in an Oct. 30, 2010, e-mail, advisers to Solyndra’s primary investor, Argonaut Equity, explain that the Energy Department had [B]strongly urged the company to put off the layoff announcement until Nov. 3. The midterm elections were held Nov. 2[/B], and led to Republicans taking control of the U.S. House of Representatives. “DOE continues to be cooperative and have indicated that they will fund the November draw on our loan (app. $40 million) but have not committed to December yet,” a Solyndra investor adviser wrote Oct. 30. “They did push very hard for us to hold our announcement of the consolidation to employees and vendors to Nov. 3rd – oddly they didn’t give a reason for that date.” Harrison went on to state that he would “like to go forward with the internal communication [to employees regarding layoffs] on Thursday, October 28.” Harrison’s e-mail was forwarded to program director, Jonathan Silver, who then alerted White House climate change czar Carol Browner and Vice President Biden’s point person on stimulus, Ron Klain. Browner asked for more information about the announcement, and Chu’s chief of staff explained he had left a voicemail message on her cellphone. [B]On Nov. 3, 2010, Solyndra announced it would lay off 40 workers and 150 contractors and shut down its Fab 1 factory.[/B] The department agreed to continue giving Solyndra installments of its federal loan despite the company’s failure to meet key terms of the loan, and in February restructured its loan to give investors a chance to recover $75 million in new money they put into the company before taxpayers would be repaid. [/INDENT] [/QUOTE]
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