Didn’t know you invested in Solyndra? Well if your if you are one of that small class of current taxpayers, or you have children, or grandchildren who will be smothered by Obamadebt, you have indeed invested in Solyndra.
You should perhaps know a few facts about Solyndra: It is a solar-panel manufacturer in Fremont, California. It has a new partially constructed facility that will provide 3000 temporary construction jobs in Fremont and it is expected to provide 1000 production jobs. It has accumulated debt of $557 million and paid for the new plant with $535 million of last year’s $787 billion stimulus package. Oh, by the why, Price Waterhouse & Coopers the auditor questions its ability “to continue as a going concern.”
Now, do you expect an equity return on that investment? That is a return commensurate with the high risk nature of the investment? You shouldn’t because while you have supplied the bulk of the capital it is in the form of debt. If anything you will get a debt return despite your equity type risk. The real return if any is ever made will go to the equity investors.
Now, a couple more facts: The sun doesn’t always shine on solar panels. To date solar panel generated electricity needs taxpayer subsidy to make any economic sense whatsoever. (So you and yours will also subsidize Solyndra’s customers, for which you will only get billed!) And, I saved the best for last: Hussein Obama visited Solyndra’s plant today, as an adjunct to his trip to generate bucks for Barbara Boxer’s senate campaign. (See: Debra Saunders’s The Obama Mantra: Bill, Baby, Bill in the May 27th RCP.)
Still feel good about that investment?