Obama Outsourcing Green Layoffs With Your Tax Dollars

A Danish wind turbine company whose subsidiaries received over $50 million in U.S. stimulus dollars announced on Friday it has cut more than 800 jobs in the United States and Canada this year and may be forced to lay off another 800 employees in North America.

Danish Wind Turbine Company That Received Over $50 Million In Stimulus Lays Off 800 Workers

h/t to Dave G

About stevengoddard

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5 Responses to Obama Outsourcing Green Layoffs With Your Tax Dollars

  1. Eric Barnes says:

    Accomplishments of the Obama Adminstration:
    Spent money like noone has before in the history of the planet.
    Managed not to get in the way while the military took out Osama.
    Stood by while Pelosi and Reid forced through ObamaCare.

    You’d think after running up the debt by what, 7 0r 8 trillion dollars that Obama would be virtually assured of a re-election.
    I think even the fat cats realize that Obama has nothing left to give them.
    He’s a horrible politician. He could have forced whatever he wanted through the senate by turning a single senator on the other side, but couldn’t manage it.
    A complete political noob whose only bright side is a press corps that can’t manage to criticize anything he does.

  2. Mike Mangan says:

    Hey, Crusty Steve! You’ll love Zombie’s book review of a 1977 climate scare classic, “The Weather Conspiracy.” Bought for 25¢ at a garage sale, the book warns of an impending ice age and the inevitable donning of hair shirts as our only hope! Hilarious and complete with a bunch of screen caps…

    http://pjmedia.com/zombie/2012/01/31/the-coming-of-the-new-ice-age-end-of-the-global-warming-era/3/

    Zombie is awesome.

  3. John B., M.D. says:

    Why not to vote Democratic in November:


    We don’t want to repeat the policies that got us into this mess.

  4. ralphcramdo says:

    I haven’t seen this posted here. Sorry if it’s OT.

    IRS says ‘tax avoidance’ at heart of Solyndra bankruptcy plan

    The Internal Revenue Service urged a bankruptcy judge to reject solar panel maker Solyndra LLC’s bankruptcy plan Wednesday, saying it amounts to little more than an avenue for owners of an empty corporate shell to avoid paying taxes.

    “The undeniable conclusion is that tax benefits drive this plan,” attorneys for the IRS wrote in a bankruptcy pleading.

    Arguing that the bankruptcy court ought not confirm a plan “whose principal purpose is tax avoidance,” attorneys said in filings in U.S. Bankruptcy Court in Delaware that the tax breaks would be worth more money than funds set aside for creditors.

    Taxpayers are on the hook for more than a half-billion dollars after the company filed for bankruptcy last year, just two years after winning a loan guarantee from the Department of Energy.

    What’s more, government attorneys said that as far back as 2010, Solyndra owners had “planned meticulously” to be able to use Solyndra’s net operating losses to offset future tax liabilities.

    “The only reason for the shell corporation to exist post-confirmation is to enable its owners to exploit these tax attributes, which would be lost in liquidation,” the IRS argued in court papers.

    One owner valued the so-called tax attributes at $150 million, dwarfing the $7 million to $8 million set aside by the reorganization plan for unsecured creditors, according to the government’s objection, which was filed by the Justice Department on behalf of the IRS.

    http://www.washingtontimes.com/news/2012/oct/10/irs-says-tax-avoidance-heart-solyndra-bankruptcy-p/#ixzz28zVUdWEH

  5. philjourdan says:

    Well – at least he is damaging other economies now. 😉

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