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?