What is happening with that $400 million loan?
Expansion is happening.
An "Abound Solar" facility is temporarily laying off 180 workers until the expansion is complete.
Abound Solar lays off 180 while Longmont facility retools for future production (click here)
11:04 AM, Mar. 2, 2012
..."Abound received a $400 million U.S. Department of Energy loan guarantee to expand it’s 65 MW Colorado facility and build a new 640 MW Indiana facility. So far, it has received $70 million of those funds," an article on Power Engineering said.
The company said it still has plans to build a new facility in Indiana once production of the next-generation modules begins, and expects to have an update on a build-out in mid-2013....
..."Abound received a $400 million U.S. Department of Energy loan guarantee to expand it’s 65 MW Colorado facility and build a new 640 MW Indiana facility. So far, it has received $70 million of those funds," an article on Power Engineering said.
The company said it still has plans to build a new facility in Indiana once production of the next-generation modules begins, and expects to have an update on a build-out in mid-2013....
The stories circulating in the Right Wing Media are LIES. Yesterday on Murdoch's "The Five" this company was a scapegoat for Right Wing Propaganda. They are telling half truths. Why is this allowed to exist by the FCC?
The fact of the matter is Abound Solar is typical of a GROWTH INDUSTRY. When monies FINALLY reach starved operations 'things happen.' Things like expansions and movement into new venues of manufacturing.
I am pleased to see Abound Solar is taking their responsibility in handling their $400 million loan seriously and not simply looking to keep a facade to advance MORE LOANS. The fact they are changing their manufacturing venue and business model to match the new venue, which requires downsizing the work force temporarily, shows difficult choices are being made.
They have only used $70 million of the $400 million loan to date and that is hardly a rush to exploit the people of the USA.
Now, why is it Murdoch's propaganda machine is allowed to make scapegoats out of a growing industry that does not fit their POLITICAL MODEL?
