A 2nd U.S.-supported maker of solar panels will close
"Our government is not good at picking winners and losers in the marketplace but has certainly proved it is good at wasting taxpayer dollars," Jim Jordan, Republican of Ohio and chairman of the House Government Reform and Oversight Committee's subcommittee on regulatory affairs, stimulus oversight and government spending, said on Thursday.
June 29, 2012
by Matthew L. Wald
in New York Times
WASHINGTON - Abound Solar, a solar panel maker that received a $400 million loan guarantee from the federal government, announced on Thursday that it would file for bankruptcy amid plummeting prices and intense competition from Chinese manufacturers in the solar equipment market.
The failure of Abound, which tapped about $68 million of the loan guarantee before the Energy Department cut off its credit last September, comes after the collapse last year of Solyndra, another high-tech solar panel maker that had received federal funds.
Republicans, including Mitt Romney, the presumptive Republican presidential nominee, seized on Solyndra's failure as evidence that the... [continue via Web link]