Obama_s_public_equity_failures

Note:  Here is some highlights of the taxpayer loans to failed or failing Obama companies. Also don't forget about all the jobs LOST whe Obama took over GM and shut down all the dealers and the support staff that worked there! You don't hear about them people. Also the private investors in GM that lost Millions.
 He has the nerve to attack Bain Capital. Toward the end it tells about the track record of Bain and Obama!





"ECOtality. The Obama administration gave ECOtality $126.2 million in taxpayer money in 2009 for, among other things, the installation of 14,000 electric car chargers in five states. Obama even hosted the company’s president, Don Karner, in the first lady’s box during the 2010 State of the Union address as an example of a stimulus success story. According to ECOtality’s own SEC filings, the company has since incurred more than $45 million in losses and has told the federal government, 'We may not achieve or sustain profitability on a quarterly or annual basis in the future.'"

Okay, he's two-for-two in failures, but he's gotta like this. ECOtality says they may not sustain profitability. Sustain? They may not even get there. And this guy's in Michelle Obama's box. He's being held up as an example of stimulus success. Another Obama bankruptcy on the verge of happening. "According to CBS News the company is 'under investigation for insider trading,' and Karner has been subpoenaed 'for any and all documentation surrounding the public announcement of the first Department of Energy grant to the company.'

"Nevada Geothermal Power (NGP). The Obama administration gave NGP a $98.5 million taxpayer loan guarantee in 2010. The New York Times reported last October that the company is in 'financial turmoil' and that '[a]fter a series of technical missteps that are draining Nevada Geothermal’s cash reserves, its own auditor concluded in a filing released last week that there was "significant doubt about the company’s ability to continue as a going concern."'

First Solar. The Obama administration provided First Solar with more than $3 billion in loan guarantees for power plants in Arizona and California. According to a Bloomberg Businessweek report last week, the company 'fell to a record low in Nasdaq Stock Market trading May 4 after reporting $401 million in restructuring costs tied to firing 30 percent of its workforce.'"

So a solar firm given three billion, losing $401 million because they fired 30% of the workforce. "Abound Solar, Inc. The Obama administration gave Abound Solar a $400 million loan guarantee to build photovoltaic panel factories. According to Forbes, in February the company halted production and laid off 180 employees. Beacon Power. The Obama administration gave Beacon -- a green-energy storage company -- a $43 million loan guarantee. According to CBS News, at the time of the loan, 'Standard and Poor’s had confidentially given the project a dismal outlook of "CCC-plus."' In the fall of 2011, Beacon received a delisting notice from Nasdaq and filed for bankruptcy."

These are just tip of the iceberg. Everything Obama's touched in terms of public equity has gone bankrupt. They've laid people off. And it's not been his money. It's been ours that he has lost.

RUSH: By the way, there are more companies that Mr. Thiessen wrote about here in Obama's public equity. There's a solar outfit. "A company called SunPower got a $1.2 billion loan guarantee from the [regime], and as of January, the company owed more than it was worth. Brightsource got a $1.6 billion loan guarantee and posted a string of net losses totaling $177 million. And, of course, let’s not forget Solyndra -- the solar panel manufacturer that received $535 million in taxpayer-funded loan guarantees and went bankrupt, leaving taxpayers on the hook."

Bain has an 80% track record.

Obama is an 0-fer.

But for some reason, some people think, "The government is trying to help people. The government's trying to help people. Big business is evil. It's rotten." It's a perception that's been with us for as long as you've been alive. And it's been brought to you by the American left and the Democrat Party. And every damn one of these outfits was nothing more than a crony Obama supporter who probably chose these industries to pretend to start up just to get some government money.

There was no business there.

There is no green energy.


http://www.rushlimbaugh.com/daily/2012/05/25/obama_s_public_equity_failures



http://dailycaller.com/2012/05/23/harry-reid-i-have-no-problem-with-obamas-bain-capital-attacks-on-romney/