Political Wrinkles  

Go Back   Political Wrinkles > General Forum > News & Current Events
Register FAQDonate PW Store PW Trivia Members List Calendar Search Today's Posts Mark Forums Read

News & Current Events Discuss Bankrupt Solyndra Caught Destroying Brand New Parts at the General Forum; Wanna see your tax dollars getting thrown in the trash?...LITERALLY?... Solyndra paid for hundreds of thousands of glass tubes to ...

Reply
 
LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 01-20-2012, 02:01 PM
cnredd's Avatar
Administrator
 
Join Date: Oct 2007
Location: Philadelphia
Gender: Male
Posts: 55,731
Thanks: 2,291
Thanked 36,334 Times in 20,698 Posts
Default Bankrupt Solyndra Caught Destroying Brand New Parts

Wanna see your tax dollars getting thrown in the trash?...LITERALLY?...

Solyndra paid for hundreds of thousands of glass tubes to a German company...They still owe $8 million to them...

The courts said they were paying to much to store these tubes and they're not worth keeping them around...

So a REAL company would've tried to go back to the German company and work out a deal or sell them outright (or even give them to university science labs), but Solyndra's option?...

Just smash them in a dumpster...

They "said" they tried to sell them with no luck, but this investigation found buyers when the company "said" they couldn't...In fact, one buyer they found was someone who had brought from Solyndra BEFORE who said he was never notified and would've brought them quickly!...


Bankrupt Solyndra Caught Destroying Brand New Parts

Quote:
After filing for bankruptcy last year, Fremont solar company Solyndra still owes American taxpayers half a billion dollars. But CBS 5 caught them destroying millions of dollars worth of parts.

At Solyndra’s sprawling complex in Fremont, workers in white jumpsuits were unwrapping brand new glass tubes used in solar panels last week. They are the latest, most cutting-edge solar technology, and they are being thrown into dumpsters.

Forklifts brought one pallet after another piled high with the carefully packaged glass. Slowly but surely it all ended up shattered.


And it’s not a few loads. Hundreds of thousands of tubes on shrink-wrapped pallets will meet a similar demise.

Solyndra paid at least $2 million for the specialized glass. A CBS 5 crew found one piece lying in the parking lot. Solyndra still owes the German company that made the tubes close to another $8 million.

So why is a bankrupt company that owes a fortune to creditors, including American taxpayers, throwing away millions of dollars worth of assets?

Solyndra is not commenting. But court documents reveal the company received permission from the bankruptcy trustee to abandon the high grade glass, the court agreeing that it was of “inconsequential value” because the cost of storing them exceeds their value.

An employee for Heritage Global Partners, the company in charge of selling Solyndra’s assets, told CBS 5 they conducted an exhaustive search for buyers but no one wanted them.

But how exhaustive was that search? The tubes were never included on the list of Solyndra assets put up for sale at two auctions last year.

If they were, David Lucky told CBS 5 he would have bought them. “We certainly would have bid on them, yes,” Lucky said.

Lucky owns several large warehouses near Las Vegas. He buys and then resells manufacturing equipment and components all the time.

“Our company has bought a lot of stuff over the years. Truck loads and warehouses full of inventory that companies were just ready to send to the dump, because they don’t want to take the time to find markets for it,” he said.

When Solyndra shut down last year, he bought hundreds of fully assembled solar panels at the auctions and is reselling them on eBay. “They’re going for a third their original price. They are a great deal,” Lucky said.

He said if given a chance he would have snapped up the tubes too. “One day some manufacturing company would eventually need those,” Lucky said.

Solar scientist Greg Smestad agreed they have value. “As a scientist I said ‘Wow, this needs to be studied,’”
he said. Smestad has consulted for the Department of Energy.
__________________
"You get the respect that you give" - cnredd
Reply With Quote
  #2 (permalink)  
Old 01-20-2012, 03:12 PM
Comet's Avatar
My God it's full of stars
 
Join Date: Aug 2011
Location: Earth
Gender: Male
Posts: 10,670
Thanks: 3,370
Thanked 5,313 Times in 3,416 Posts
Send a message via AIM to Comet
Default Re: Bankrupt Solyndra Caught Destroying Brand New Parts

Solyndra will certainly be a nasty thorn in the side of Obama in the 2012 election.
__________________

"The oldest picture book in our possession is the midnight sky" - E. W. Maunder
Reply With Quote
  #3 (permalink)  
Old 01-20-2012, 06:03 PM
Base's Avatar
Counselor
 
Join Date: Oct 2009
Posts: 541
Thanks: 1,311
Thanked 288 Times in 188 Posts
Default Re: Bankrupt Solyndra Caught Destroying Brand New Parts

Are those who decided to trash good inventory the same ones getting bonuses?
__________________
_
Reply With Quote
  #4 (permalink)  
Old 01-20-2012, 07:06 PM
Banned
 
Join Date: Oct 2010
Location: Arizona
Gender: Male
Posts: 8,071
Thanks: 1,599
Thanked 3,068 Times in 2,073 Posts
Default Re: Bankrupt Solyndra Caught Destroying Brand New Parts

Quote:
Originally Posted by Base View Post
Are those who decided to trash good inventory the same ones getting bonuses?
Of course, we wouldn't want bad decisions to come back on those that made them.
Reply With Quote
Reply

Tags
bankrupt, brand, caught, destroying, new, parts, solyndra

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

Forum Jump


All times are GMT -5. The time now is 01:35 AM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2020, vBulletin Solutions, Inc.

Content Relevant URLs by vBSEO 3.2.0