Second Romney-Backed Solar Company Files For Bankruptcy

On Thursday, Mitt Romney campaigned at the headquarters of Solyndra — the first renewable energy company to receive a federal loan under the stimulus — and reiterated his debunked claims that its bankruptcy symbolized the corruption and cronyism of the Obama administration. But just one day later, a solar panel developer “that landed a state loan from Mitt Romney when he was Massachusetts governor” went belly up, the Boston Herald reports, creating an inconvenient storyline for the GOP presidential nominee.

The company, Konarka Technologies, “filed for Chapter 7 bankruptcy protection and will cease operations, lay off its 85 workers and liquidate”:

“Konarka has been unable to obtain additional financing, and given its current financial condition, it is unable to continue operations,” CEO Howard Berke said in a statement. “This is a tragedy for Konarka’s shareholders and employees and for the development of alternative energy in the United States.”

The demise of Konarka could become a hot topic on the campaign trail because Romney personally doled out a $1.5 million renewable energy subsidy to the Lowell startup in 2003, shortly after taking office on Beacon Hill.

They got $1.5 million NINE YEARS AGO and it’s Romney’s fault they went belly-up now?

So was the guy in charge of Konarka a crony of major Romney donor? Did Romney rush the loan through the approval process? Can anyone remember exactly who approved the loan? Were the taxpayers subordinated to other investors? Did Konarka repay any or all of the loan during the past NINE YEARS?

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This entry was posted in Barack Obama, Crony Capitalism, Disingenuous Democrats, Mitt Romney, Obamanation, Propaganda, Solyndra and tagged , , . Bookmark the permalink.

24 Responses to ZOMG!!!1!

  1. Oswald says:

    Boston Herald:

    In its 11-year history, Konarka collected a total of $20 million in government research grants, along with $170 million in private capital. The company makes thin, flexible solar panels that its customers build into other products such as deck umbrellas, backpacks and portable chargers.

    So at worst, Romney is on the hook for less than 1% of the investment.

  2. angienc says:

    A commenter at TP makes an excellent point (that will likely go over the head of the brain dead left):

    Sea Bear · Top Commenter
    So, in other words, they lasted about 18 times longer and cost about three tenths of a percent of what Obama’s green initiative did…

    Is this for or against Obama?

    For the liberals in the audience, it sounds kind of against Obama, but whatever.

    • myiq2xu says:

      A high-tech start-up that lasts 9 years is above-average.

      • Lulu says:

        It took the Obama economy for them to go belly up. That will be the Romney response.

    • yttik says:

      “For the liberals in the audience, it sounds kind of against Obama, but whatever.”

      LOL! That’s been my response to Obama supporters lately, “whatever.” It’s a waste of time to try and point out the facts to them.

  3. myiq2xu says:

    Can you smell the desperation?

    • threewickets says:

      I thought this seemed bit desperate.

      • threewickets says:

        Carly Simon wrote above song about David Geffen. Joni Mitchell wrote below song about Geffen who as it turns out is a big Obama supporter. Geffen and Obama seem very similar to me. Anyway, just needed excuse to play some tunes. 🙂

  4. HELENK says:

    I brought this up from downstairs because
    It is all Romney’s fault


  5. HELENK says:

    when you become a government official do you lose all common sense and get really stupid????????????


  6. angienc says:

    Stolen from TomOHalloran on Twitter:

    If you are still considering voting for Obama, you have to see this:


  7. Lulu says:

    The cosmic shift has begun. In zooming around the internets and reading Sunday columns and stuff, the general theme is Obama is a big fat disappointment, liar, and fraud. Something tipped it. Maybe a combination of somethings such as Romney having a stellar week, Obama being a kill list and drone freak, and the appalling employment numbers topped off with a stock market slide killing off any equity gains for the year. All Obama can do is go ultra negative which will hurt him more than Romney. More and more voters are watching him with a gimlet eye.

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