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This page contains a single entry from the blog posted on September 16, 2011 7:46 AM. The previous post in this blog was Killer cop circus is back in town. The next post in this blog is Speaking of paving paradise.... Many more can be found on the main index page or by looking through the archives.



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Friday, September 16, 2011

Building on sand

Substitute "SoloPower" for "Solyndra" in this story, and picture it with a dateline of mid-2012. The economic salvation of Portland through "green" manufacturing will look less likely than ever:

Solyndra once was the showcase for President Barack Obama's efforts to increase investment in renewable energy and to generate jobs. But the marketplace for its products changed dramatically over the past year. Chinese companies have flooded the market with inexpensive solar energy panels, and Europe's economy weakened demand from customers. The result has been an unprecedented drop in solar cell prices this year. Two other solar panel manufacturers also filed for bankruptcy in the past month.

Administration officials stressed that private investors thought so highly of Solyndra's prospects that they put more than $1 billion of their own money into the company.

But Republicans on the panel said there appeared to be a rush in approving financing for Solyndra, and they expressed concern that a similar rush may be taking place now with agreements that would have the federal government guaranteeing an additional $10 billion in loans if all the guarantees are approved before Sept. 30.

SoloPower's planned Portland plant is being financed in large part by its own federal loan guarantees, which reportedly total about $200 million. The State of Oregon is lending the company another $20 million, and the financial wizards at the City of Portland are guaranteeing $5 million.

Although the company and bureaucrats are touting 500 new jobs in the area, SoloPower recently admitted that it will have only around 100 workers at the first of its two plants planned for North Portland. At the rate the industry is going, it will be a wonder if two Portland plants actually get built and operate for a sustained period of time.

Comments (22)

...and Adams will be long gone.

But something tells me Adams will rear his head in politics somewhere, somehow. He has no other skills.

I get the feeling that these bureaucrats never uttered the phrase, "will you respect me in the morning".

So far "green jobs" have cost $5 million per job. Spain, Italy and Portland are "all-in" for the "green". Which one will go bankrupt first?

Substitute "SoloPower" for "Solyndra"

Hell, substitute Vestas or ReVolt Technologies. The story is still the same:

- Elected official wants headlines and green is cool
- Elected officials have no clue about technology and business-worthiness of ideas
- Grant-seekers have no conscience at all and are vulpine and just want the money with min strings or justification
- Elected official are spending other people's money.

That's the problem, it'll be Graham's law revised - Bad ideas will drive out any good ideas.

Naysayers, begone! Have ye no faith?
Remember, Portland is special because we have elected officials who are "on the right track" and I'm sure they'll do the right thing. Anyone seen my hookah?

Help stop the Portland invasion into Lake Oswego, Vancouver and Clackamas County.

Then Portland will be forced to change.

It is the media's hype that helps keep the Green coming. Look at this week's Tribune article "New deals shaking up solar industry", and about every week the Tribune hypes solar Green.

The most obfuscating thing about the Tribune's continual hyping is the lack of discussing the obvious. They spent 70 inches of reporting about "solar leasing and solar pre-payments", and saying the executive director of the Oregon Solar Energy Industries Association "didn't pay a dime to have solar panels put on his SE Portland home". Then stating "solar leasing companies can now recoup the [their]the costs of installing home systems by collecting federal tax credits and Energy Trust of Oregon rebates [taxpayer funded]". The Tribune failed to mention the state's credits included. They fail on the obvious.

It boils down to solar is payed by you and me, other citizens, to the benefit of a few.

Same goes for those who install their own systems, financing there own. The feds, state and Energy Trust contributions adds up to 85% of a typical home installation which varies around $17,000 to $18,500 which the owner only pays approx. $3200 of the total after all the taxpayer funded credits.

The Tribune and other media fails miserably in emphasizing who really pays, but always touts how wonderful it is. Yes, solar is good, but who is really paying?

Our "geniuses" were/are caught up in sustainability and greenness.

Everybody happy paying higher gas prices for our forced ethanol consumption and poorer mileage? Everybody happy having TriMet paying higher prices for biodiesel?

I am not. Show me a Mayoral candidate that is not in favor of the above and I will vote for that person.

Spain, Italy and Portland are "all-in" for the "green".

Actually, Spain last year halted all subsidies for "green" tech, which they had formerly heavily promoted in an effort to become the "greenest" nation on the planet.

That sudden reversal has cost solar panel and wind turbine companies (like Vestas) because a substantial portion of their market share simply disappeared.

I find the fact that our government would lend half a billion(??!!!) dollars to ANY company to be completely dumbfounding.

I don't care if it is a factory turning out unicorns for orphans, founded by Mother Teresa, and making gigantic surefire profits year in and year out.

Why the hell would the government have a program to lend half a billion dollars to ANYONE?

Whadya wanna bet that Portland officials have already been offering us all up like lambs on the altar to keep those firms afloat and maybe even relocate here?

For every job you create by subsidizing Solar Power Companies, you push a barely profitable, struggling, private solar company out of business and kill one of their jobs. This is why , while the solar industry is growing at a record reate, solar power stocks are dropping like rocks. This is one of those things where a job created results in a job lost. Why would anyone in their right mind support that kind of legislation?

SoloPower recently admitted that it will have only around 100 workers

I thought that was simply per-shift and they were employing more? Do I misunderstand?

I will say this once:

Dare to get corporate America off welfare.

And on another subject:

Drug test political candidates, office holders, and cops.

I was thinking because of the subsidies. Is this not a subsidy for the rich? Is it not taking our tax dollars to help those who can afford to put something like this up. It is not something that someone who makes under 50K would add to thier home. Or is this a pay off the people who are part of the Green Energy madness. Letting them use our tax dollars to support thier cause. INstead of their own money. If it was thier money I do not think they would do it.

Why not permanently (via amendment) prohibit of all govt subsidies of any corporation in any manner, and let all of this disappear? Oh yeah... because the Supreme Court has repeatedly declared corporations to be uberhumans, better than either you or me. Oh yeah... our publicly elected officials and the bureaucrats are busy eating at the corporate trough all over the country.

Why are we all forcing corporate farming, corporate insurance, badly run airlines and pseudo-public rail, green energy schemes, and financial "bankster" institutions into continued socially-engineered existence with endless subsidies and bailouts? We'd be better quickly weaning ourselves off of them all and letting the void be filled with genuine and sane self-supporting free market versions of the same.

Why can't the Tea Party people realize that we already ARE highly Socialist and Big-Govt. in the only sense that they care about: govt funded tax support and massive redistribution. We have simply defined a very narrow portion of society as the recipients of the benefits in our exceptionally broken version of Socialism.

Pointless rant concluded.

I thought that was simply per-shift and they were employing more? Do I misunderstand?

You do. Read the linked material. They say there will be two shifts, parking for the shifts will overlap, and at the time of overlap, there won't be more than 100 employees on site, total. There are fewer than 120 parking spaces on the site.

Was talking to a close friend of mine, who is a retired banker. He flatly told me that most of these "green" deals would never pass muster with most bank loan committees.

I've said this multiple times - sustainability should be about taking care of what you have, and spending funds prudently. Sorry, that's just the accountant in me talking. The social engineering, iconic-visiony thing, green this and that, will drive us bankrupt, which is not sustainable. Put a dead bird on it.

You all get an A+ for noticing the subsidy for this , and OOOPs did you miss the subsidy for Chevron, EXXon , Con-Agra , Dupont , AND GoldmanSucks , did I miss anyone , yea I missed hundreds of old boy companies that we subsidize. Why not go with the Pres and cut off the big super-profitable oil companies from the teet and see what fun happens first. I can use Solar , and if we get enough installed I won't have to die sucking in the subsidized Boardman Coal Plant Poison.

If you are truly tired of the legal fiction of corporate personhood, there is a rally tomorrow:

11 AM to 3 PM Pioneer Courthouse Square


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