Carla Obeid Seventh Hour Government Thursday, September 15, 2011 Solyndra- Company Information On March 20, 2009,

a $535 million loan guarantee was offered to support the construction of a commercial-scale manufacturing plant for its propriety solar photovoltaic panels. Later in 2009, the company posted $100 million dollars in revenue. Its production and sales growth could lead to a market cap between $1.76-2 billion dollars. 2010 revenues were approximately $140 million. Solyndra had been led by Brian Harrison since July 27, 2010. That had been when the company announced the Brian Harrison had replaced the founder, Chris Gronet, as CEO of the company. Located in Fremont, California, Solyndra suspended all of its operations and filed for bankruptcy in August 2011. It left behind the United States government as it largest creditor of uncollected debt obligations. Another big effect of its bankruptcy was putting more than 1,000 people out of work, besides leaving the government unlikely to get back the money it loaned. Product Information Solyndra was a manufacturer of cylindrical pieces of CIGS thin-film solar cells (TFSC) which are also called thin-film photovoltaic cell (TFPV). They are made by placing one or more thin layers- which are the thin films- of photovoltaic material on substrate. The thickness range of such a layer is wide and varies from a few nanometers to ten of micrometers. Why did they go bankrupt? E-mails were uncovered of August 2009 revealing White House officials rushing the loan and had been consistently bugging the Office of Management and Budget about when they were going to decide on the more than half-billion-dollar loan. The half-billion-dollar loan consisted mostly of taxpayers money. The problem was that they had wanted the vice president, Joe Biden, to announce the loan approval at a certain time. The White House officials were urgently to make a decision about a scheduling matter. The loan application also may have been completed before President Obama even took office. Pressure from the White House may have changed how the Office of Management and Budget (OMB) reviewed the loan. Even before the loan, there was financial viability. The Obama administration had ignored repeated warnings; there is evidence of how a White House official dismissed reports of a bad future for Solyndra and its issues. At least three reports by federal watchdogs over the past two years warned how the Energy Department had not fully developed the controls needed to manage the multibillion-dollar loan.

Political Reaction This company was supposed to be part of Obamas green-jobs explosion, says Ed Morrissey at Hot Air. Now its a poster child for the failure of his stimulus, his green-jobs ambition, and social engineering in general. Republicans are accusing the failure of the company as a prime example of why the 2008 stimulus package was a national punch line. Last Thursday, there were remarks in the Senate bordering Senate Minority Leader Mitch McConnell arguing that Solyndras bankruptcy is another motive to object against the presidents jobs plan. This place was supposed to be the poster child of how the original stimulus would create jobs. Now its bankrupt and most of its 1,100 employees are out of work, McConnell said, and they want another stimulus? Yet, some say this isnt President Obamas fault. The investment our government made in Solyndra wasnt a hand-out, says Green for All. It was an attempt to level the playing field so the company could compete with Chinese companies that receive up to 20 times more help from the state than the U.S. firms do. Lastly, there are others who say there are better ways to spend the stimulus. Since President Obama sought for more jobs, he should have targeted companies based on their ability to compete, says Logan Penza at the Moderate Voice. Still, he didnt wish to infuriate Democrats, so he loaded taxpayers with debt to help green companies that liberals can be fond of. Of course, the economy would have been better off if he had spent the money in ways that were cost-effective instead of merely politically convenient. Roles of the President 1. Head of state - The role in most democratic governments given to someone other than the chief executive who leads the executive branch of government. It symbolizes the dignity and majesty of the American people. Chief executive- This role enforces the acts of Congress, the judgments of federal courts, and treaties signed by the United States. It abides constitutionally as head of the executive branch of the government. Commander in chief of the armed forces- As commander in chief of the armed forces, one is as a supreme commander of the military forces of the United States and of the state National Guard units when they are called into federal service. Chief diplomat- This function is typically for American foreign policy. It deals with foreign governments, making treaties, and effecting executive agreements. Chief legislator of the United States- This last role influences the making of laws. Not many presidents accomplish getting their legislative programs applied by Congress.

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In authorizing and granting permission for this loan and trying to produce jobs from green companies. In this way, he is proposing a legislation to Congress, the unemployed, and the taxpayers. Therefore, President Obama is influencing the making of laws as chief legislator. President Obama is also an economic leader. The economy is not its best recently, stooping so low that many think its the next Great Depression. Since, the president is exercising control to get the economy better with more jobs, he is an economic leader. Obama is lunging to decrease the high unemployment rate.