You remember Solyndra, the solar energy company which got a half billion dollar loan from the government, then filed bankruptcy?
While they were in their death throes, the folks at Solyndra were wanting to lay off some of the work force but were advised to delay such notices until after the 2010 election day.
In addition their government loan was restructured to allow private investors ahead of taxpayers in order of priority for repayment. Inquiring minds at the House Energy and Commerce Committee wonder if this was legal. It’s of particular curiosity as taxpayers are now stuck for most of that $535 million dollar loan.
Solyndra filed Chapter 11 bankruptcy in Sept of this year.
From the National Journal: ““They did push very hard for us to hold our announcement of the consolidation to employees and vendors to Nov. 3—oddly, they didn’t give us a reason for that date,” states an October 2010 e-mail exchange between advisers for Argonaut Private Equity, the top investor in Solyndra that was founded by George Kaiser, an Oklahoma oil billionaire who bundled campaign donations for presidential candidate Barack Obama in 2008.”