pawns documentation

8/3/2019 Pawns Documentation

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FINAL AMERICANS FOR PROSPERITY TV:60 -- PawnsJanuary 12, 2012

VISUALS AUDIO

The front cover of a file folder, with Obama

video clip on it. http://goo.gl/YwMwv

OBAMA: The true engine of economic growth

will always be companies like Solyndra.

File folder with photos of Solyndra, FBI raid,CEO testimony

A diagram of a briefcase, Obama, & Solyndra.Arrow labeled campaign donations pointsfrom briefcase to Obama. Arrow labeled$535 million points from Obama toSolyndra.

VO: We all know about Solyndra. The WhiteHouse emails, the FBI raids.

VO: Solyndra investors raise campaign moneyfor Obama. The government gives Solyndra halfa billion in taxpayer money. Politics as usual.

NEWS QUOTE: Within the administration,the companys potential collapse had longbeen discussed. (Washington Post,12/25/11)

Solyndra email: hold our announcement ofthe consolidation of employees

Solyndra email: No announcement till afterelections at DOE request

VO: Within the administration, the companyspotential collapse had long been discussed.

VO: Knowing all along, Solyndra would have tofire their workers.

VO: But Solyndra held it off until after the 2010elections.

TEXT: 1,100 workers fired

Photos of workers who have been fired

WH email: the optics of a Solyndra defaultwill be bad

TEXT: Fired Solyndra Worker: Its not aboutpeople; its politics (Washington Post,12/25/11)

TEXT: we all feel betrayed (WashingtonPost, 12/25/11)

VO: 1,100 workers had no idea they would be

fired. But the Obama Administration knew.

VO: All that mattered was the 2010 election optics, not workers.

VO: Its not about people; its politics.Solyndras workers felt betrayed.
http://goo.gl/YwMwvhttp://goo.gl/YwMwv


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NEWS QUOTE: an estimated 90 percentremain unemployed (Washington Post,12/25/11)

NEWS QUOTE: blew through $535million (ABC News, 9/23/11)

TEXT: Obama touts Solyndra as a model ofhis jobs program (ABC News, 10/3/11)

VO: Today, 90% of Solyndras laid-off workersremain unemployed.

VO: Half a billion in taxpayer money gone.

VO: And Obama said this was a model of jobsand growth?

Video clip of Obama: http://goo.gl/O4TFf STEPHANOPOLOUS: Do you regret that?OBAMA: No I dontoverall its doing well.

TEXT: Tell President Obama: Workers ArentYour Pawns

TEXT: Take Action at

AmericansForProsperity.org

DISCLAIMER: Paid for by Americans forProsperity

VO: Tell President Obama: American workersarent pawns in your political games.

DOCUMENTATION

Script: The true engine of economic growth will always becompanies like Solyndra.

Source: http://goo.gl/YwMwv

Script: We all know about Solyndra. The White House emails, the FBIraids.

Support: The Washington Post9/16/11; Los Angeles Times9/8/11

Solyndratriedtoin-luenceEnergyDepartment,e

mailsshow

ByJoeStephensandCarolD.Leonnig--TheWashingtonPost9/16/11

Inthetwoyearsprecedingitscollapse,SolyndraanditsbiggestinvestoraggressivelyassertedthemselvesindealingswiththeObamaadministration,pushingEnergySecretaryStevenChutovisitthecompanysheadquarterstohelpit
http://goo.gl/O4TFfhttp://www.washingtonpost.com/politics/investigators-have-questions-about-solyndra-investors-charitable-tax-status/2011/10/18/gIQApSjpuL_story.htmlhttp://www.washingtonpost.com/politics/investigators-have-questions-about-solyndra-investors-charitable-tax-status/2011/10/18/gIQApSjpuL_story.htmlhttp://www.washingtonpost.com/politics/solyndra-department-of-energy-pushed-hard-for-company-not-to-announce-layoffs-until-after-2010-mid-term-elections/2011/11/15/gIQA2AriON_story.htmlhttp://www.washingtonpost.com/politics/solyndra-department-of-energy-pushed-hard-for-company-not-to-announce-layoffs-until-after-2010-mid-term-elections/2011/11/15/gIQA2AriON_story.htmlhttp://goo.gl/YwMwvhttp://goo.gl/YwMwvhttp://goo.gl/O4TFfhttp://goo.gl/O4TFf


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raiseprivatemoneyandlatersuggestingitwouldHileforbankruptcyiftheEnergyDepartmentrejecteditsproposedrescueplan.

ExecutivesassociatedwiththeCaliforniasolarpanelcompanyalsoprivatelydescribedEnergyDepartmentofHicialsasmoreconcernedwithappearancesthan

withsoundbusinessdecisions.

TheDOEreallythinkspoliticallybeforeitthinkseconomically,aSolyndraboardmemberwroteinDecembertoGeorgeKaiser,anObamafundraiserwhosefamilyfundsownedathirdofthecompany.

Atanotherpoint,aninvestmentadvisertoKaiserwroteinane-mail:DOEiswillingtoaccommodateSolyndra. . .buttheyappeartobeconcernedaboutlookingbad.

Thenewdetailscomefrome-mailsreleasedWednesday bytheouseEnergyandCommerceCommittee,whoseRepublicanmajorityhasbeeninvestigatingSolyndrascollapsesinceFebruary.ThedocumentswereprovidedinadvanceofChustestimony,scheduledforThursdaybeforethecommitteesinvestigativepanel.

CommitteeRepublicanshavesaidthatPresidentObamausedhisclean-energyinitiativetosteerloanstocampaigndonors.SolyndrasbiggestinvestorisArgonautEquity,aninvestmentHirmforKaisersfamilyfunds.Kaiser,aTulsabillionaire,hassaidheplayednopartinhelpingSolyndrawina$535millionfederalloan.

ThenewdocumentsdepictSolyndraanditsinvestorsasfarfrompassiverecipientsoftheEnergyDepartmentsmoney.Instead,theyshowexecutivesmakingdemands,

strikingtoughbargainsandnotshyingfromcriticismoftheagencythatwasfuelingthecompanysgrowth.

OnenewdocumentexpectedtobecitedatThursdayshearingisaDecembere-mailtoKaiserfromStevenMitchell,whowasmanagingdirectorofArgonautandamemberofSolyndrascontrollingboard.MitchellwrotethattheEnergyDepartmentshotdownArgonautsplanfortheagencytorescuethecompanyfromaliquiditycrisis,sowepolitelymovedtheconversationtowardhowtoHileforbankruptcy.

TomeitwascleartheDOEfolksweresomewhatcaughtoffguardthatwewerentgoingtobailoutthecompany,Mitchellwrote.AseniorEnergyDepartmentstaffer

respondedbysuggestingthatifArgonautandotherinvestorscontributedanadditional$75milliontokeepthecompanyaHloat,theywouldbeplacedaheadoftaxpayersforrepaymentifthecompanywentunder,thee-mailsaid.

DOEspokesmanDamienLaVerasaidthatArgonautofHicialsareentitledtotheiropinionbutthatallloandecisionsweremadeonthemerits.
http://www.washingtonpost.com/http://republicans.energycommerce.house.gov/Media/file/Hearings/Oversight/111711_solyndra/memo.pdfhttp://republicans.energycommerce.house.gov/Media/file/Hearings/Oversight/111711_solyndra/memo.pdfhttp://republicans.energycommerce.house.gov/Media/file/Hearings/Oversight/111711_solyndra/memo.pdfhttp://republicans.energycommerce.house.gov/Media/file/Hearings/Oversight/111711_solyndra/memo.pdfhttp://www.washingtonpost.com/http://www.washingtonpost.com/


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Aversionofthatdealwaslaterputinplace,andRepublicanshavequestionedwhethertheagreementviolatedfederallaw.DemocratspreparedtoarguethatthearrangementwasreviewedbyEnergyDepartmentlawyersanddeemedappropriate.

InaFebruary2009e-mail,Solyndrasthen-chiefexecutive,ChrisGronet,listed10conditionsunderwhichthecompanywouldraiseanadditional$147millioninequity.OnewasthatChuvisitSolyndrasCaliforniafactoryandholdmediainterviewsthere,foruseinthecompanysfundraisingefforts.ChudidvisitSolyndraandhelpbreakgroundforitsnewfactoryinSeptember2009.

Othere-mailsshowdivisionsoverSolyndrawithintheObamaadministration.

InJuly2009,astafferintheEnergyDepartmentsloanofHicecriticizedChuforrespondingtoreportersquestionsbysayingthatanannouncementaboutSolyndrasloanapprovalwasimminentandthattheloanistheirs,assoonasthey

gettheadditionalcapitalthatsrequiredbystatute.

Thisnonsensehastostop,thestafferwroteinaninternale-mail.Theconclusionthattheloanistheirsdoesnthelpournegotiation.

AlsoWednesday,DemocratsontheenergycommitteereleasedamemosayingthatthechiefHinancialofHicerforaSolyndrasupplierhadwrittentotheEnergyDepartmentloanprogramallegingHinancialimproprietiesbythecompany.

TheofHicersaidthatSolyndraaskedsupplierstoletitdelaycashpaymentsto

improvetheappearanceofSolyndrasbalancesheet.

ThereasongivenbySolyndrawasthatthiswouldallowSolyndratomeettheDOEcashrequirementandaccesstheDOEloan,thememosaid.

AnattorneyfortheEnergyDepartmentloanprogramsofHiceaskedaSolyndralawyerabouttheallegationsandsaidthecompanydeterminedtheyweregroundless.Solyndraslawyeralsoasserted,underitscontractterms,thattheallegedactionswouldnotconstitutefraud.

ThememosaidtherewasnoevidencethatChuoranyofHicialintheWhiteouse

knewoftheclaim.Solyndraisundercriminalinvestigationbyfederalprosecutors.

TheDemocraticmemoalsosaidthecommitteeinterviewedSteveIsakowitz,aBushadministrationappointeetothepostofchiefHinancialofHicerattheEnergyDepartment,wholeftinJuly.IsakowitzsaidneitherChunortheWhiteousepressuredhimontheSolyndraloan.
http://democrats.energycommerce.house.gov/index.php?q=page/solyndra-investigationhttp://democrats.energycommerce.house.gov/index.php?q=page/solyndra-investigationhttp://democrats.energycommerce.house.gov/index.php?q=page/solyndra-investigation


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ChuonWednesdayreleasedpartsofhispreparedremarksforthehearing.

esaidhisagencyhadprovidedmorethan186,000pagesofdocumentstothecommittee.Asthisextensiverecordhasmadeclear,theloanguaranteetoSolyndrawassubjecttoproper,rigorousscrutinyandhealthydebateduringeveryphaseof

theprocess,hesaid.

FBIraidssolarpanel-irmSolyndraafter

bankruptcy-iling

ByStuartPfeiferandRonaldD.White-LosAngelesTimes9/8/11

Federalagents executeda searchwarrant atthe Northern CaliforniaheadquartersofsolarpanelmanufacturerSolyndraInc.,whichHiledforbankruptcyprotectionthis

weekdespitereceiving$535millioninfederalstimulusloanguarantees.

TheFBIandDepartmentofEnergy'sOfHiceofInspectorGeneralconHirmedthattheiragents were involved in the raid Thursday at Solyndra's ofHices in Fremont butdeclinedto discusswhattheywereinvestigating. FBI spokesmanPeterD. Lee saiddocumentsrelatedtothesearchhadbeensealed.

Last week,Solyndraabruptlyannouncedthat itwasceasingoperationsandlayingoff1,100employees,amovethecompanyattributedtointenseforeigncompetitionand a "global oversupply of solar panels." The company Hiled for bankruptcy

Tuesday.

Republicans haveseizedon Solyndra's downfall as a signthatPresident Obama'sstimulus and "green jobs" campaignwerefailures. They have also notedthat keyObamabackerGeorgeKaiserwasamajorinvestorinSolyndra,theHirstcompanytoreceive a Department of Energy loan guarantee to boost alternative energycompanies.Theprogramreceivedadditionalfundingunder2009'sfederaleconomicstimuluseffort.

"TheFBIraidfurtherunderscoresthatSolyndrawasabadbetfromthebeginning

andputtaxpayersatunnecessaryrisk,"Rep.FredUpton(R-Mich.),chairmanoftheouseEnergyandCommerceCommittee,andRep.CliffStearns(R-Fla.)chairmanofitsOversightandInvestigationssubcommittee,saidinajointstatement."PresidentObama'ssignaturegreenjobsprogramwentfromadarlingoftheadministrationtobankruptcytonowthesubjectofanFBIraidinamatterofdays."

SolyndraspokesmanDaveMillersaidthefederalraidcameasasurprisebutthatthecompanywas"fullycooperating"withinvestigators.


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esaidhedidnotknowwhatthefederal agents werelookingforbut speculateditcouldbe related to the $535-million loan guarantee, of which the company drew$527million.

A skeleton team of about 100 employees is still working at the factory during a

"wind-down"process,Millersaid.

The raid came about 16 months after Obama visited Solyndra and praised thefederalgovernment'sinvestmentsincleanenergyandothersectors.

"We'vegotto go backto making things,"the president said atthe May 26, 2010,appearanceatSolyndra. "Not only wouldthis spur hiring by businesses, it wouldcreatejobsinsectorswithincrediblepotentialtopropeloureconomyforyears,fordecadestocome.Thereisnobetterexamplethanenergy."

Solyndrawasoneofabout40alternativeenergyprojectsfundedoverthelasttwoyearsthroughanEnergyDepartmentloanprogramthathelpedcompaniesinvolvedwithmajorwind,solar, nuclearand ethanolprojects. TheEnergyDepartmenthadsaiditexpectedthecombinedprojectstocreateabout60,000jobs.

TheouseEnergyandCommerceCommittee hadbeeninvestigatingthe SolyndraloanssinceFebruaryandhadscheduledahearingnextWednesdaytogetadditionaldetailsabouttheloanguarantee,evenbeforefederalagentsarrivedatSolyndraonThursday.

The committee had previously issued subpoenas to obtain documents about theSolyndraloansfromtheadministration'sOfHiceofManagementandBudget.

Script: Solyndra investors raise campaign money for Obama. Thegovernment gives Solyndra half a billion in taxpayer money. Politicsas usual.

Text: A diagram of a briefcase, Obama, & Solyndra. Arrow labeledcampaign donations ponts from breifcase to Obama. Arrow labeled$535 million points from Obama to Solyndra.

Support: Daily Caller9/1/11; USA TODAY10/6/11

Bankruptsolarcompanywithfedbackinghascozy

tiestoObamaadmin


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ByC.J.Ciaramella-TheDailyCaller,9/1/2011

AsolarenergycompanythatintendstoHileforbankruptcyreceived$535millioninbackingfromthefederalgovernmentandhasacozyhistorywithDemocratsandtheObamaadministration,campaignHinancerecordsshow.

ShareholdersandexecutivesofSolyndra,agreenenergycompanyproducingsolarpanels,fundraisedforanddonatedtotheObamaadministrationtothetuneofhundredsofthousandsofdollars.

TulsabillionaireGeorgeKaiser,akeyObamabackerwhoraisedbetween$50,000and$100,000forthepresidentselectioncampaign,isoneofSolyndrasprimaryinvestors.Kaiserhimselfdonated$53,500toObamas2008electioncampaign,splitbetweentheDSCCandObamaForAmerica.KaiseralsomadeseveralvisitstotheWhiteouseandappearedatsomeWhiteouseeventsnexttoObamaofHicials.

CampaignHinancerecordsshowKaiserandSolyndraexecutivesandboardmembers

donated$87,050totaltoObamaselectioncampaign.

Andnow,justtwoyearsaftersecuringahalf-billion-dollarfederalloan,SolyndrahassaidthatitwilldeclareChapter11bankruptcy.

Inastatement,SolyndrawroteglobaleconomicandsolarindustrymarketconditionsforcedittocloseitsFremont,Calif.,factoryandlayoff1,100employees.

RegulatoryandpolicyuncertaintiesinrecentmonthscreatedsigniHicantnear-termexcesssupplyandpriceerosion,SolyndrapresidentandCEOBrianarrisonsaid.Raisingincrementalcapitalinthisenvironmentwasnotpossible.Thiswasanunexpectedoutcomeandismostunfortunate.

Obamacitedthecompanyasamodelofsuccessforhishighlytoutedgreen-energyindustryinitiative.Infact,theObamaadministrationfast-trackedthesolarstartups$535millionloanapplicationtotheDepartmentofEnergyamovelatercriticizedbytheGovernmentAccountabilityOfHice.

SolyndraandtheadministrationoriginallyprojectedtheloanwouldhelpSolyndracreate4,000jobs.

DuringavisittotheSolyndrafacilityin2010,ObamasaidthefactoryisatestamenttoAmericaningenuityanddynamismandthefactthatwecontinuetohavethebestuniversitiesintheworld,thebesttechnologyintheworld,andmostimportantlythe

bestworkersintheworld.

Lessthanayearago,wewerestandingonwhatwasanemptylot.ButthroughtheRecoveryAct,thiscompanyreceivedaloantoexpanditsoperations,Obamaproclaimedthen.Thisnewfactoryistheresultofthoseloans.

AccordingtoaWashingtonPostreport,SolyndracommunicationsdirectorDavidMillercalledtheWhiteousetoaskthatafactorytourbeaddedtoObamas


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itineraryduringatriptoCalifornia.

CampaignHinancerecordsshowSolyndrashareholdersandexecutivesdidtheirfairshareofgreasingpalms.

BenBierman,executivevicepresidentofoperationsandengineeringforSolyndra,

donated$5,500toObamaselectioncampaign.KarenAlter,seniorvicepresidentofmarketing,donated$23,000in2008.

AccordingtoinformationcollectedbytheCenterforResponsivePolitics,Solyndraboardmembershavedonatedatleast$27,400toDemocraticcampaignsandafHiliates.

Since1998,SolyndraboardmemberJamesF.Gibbonshascontributed$13,500onhisown.BoardmemberWinstonFuhascontributed$4,550since2008.Since1991,boardmemberThomasBaruchhascontributed$7,150.AndboardmemberStevenR.Mitchelldonated$2,300toObamain2007.

Solyndraalsospent$550,000lobbyingCongressin2010.Between2008and2011,thecompanyspentmorethan$1millionlobbyingforbillsincludingtheAmericanCleanEnergyLeadershipActof2009andtheSolarManufacturingJobsCreationAct.

DespiteSolyndrasrecentbankruptcyannouncement,theDepartmentofEnergyandtheWhiteouseinsisttheinvestmentwasnotinvain.

Theprojectthatwesupportedsucceeded,aspokesmanfortheDepartmentofEnergytoldTheNewYorkTimes.Thefacilitywasproducingtheproductitsaiditwouldproduce,andconsumerswerebuyingtheproduct,hesaid.Thecompany

struggledbecausethemarkethaschangeddramatically.

Whilewearedisappointedbythisparticularoutcome,wecontinuetobelievetheclean-energyjobsraceisonethatAmericacan,mustandwillwin,WhiteousespokesmanEricSchultzsaidtodayinanemailedstatement.

ObamadefendscleanenergyloanByAamerMadhani--USATODAY,10/6/11

WASINGTONPresidentObamaonThursdayslammedRepublicanswhoarecriticalofaprogramthatawardedthenow-bankruptsolar-panelmanufacturerSolyndraa$535milliontaxpayer-backedloanguarantee,notingthatRepublicanlawmakershavelongsupportedsubsidiesforclean-energyinitiatives.SinceSolyndraHiledforbankruptcyprotectionHiveweeksago,theObamaadministrationhadbeenonthedefensiveasRepublicansseizedonthecollapseofthesolarcompanyasanexampleofmisuseofstimulusmoney.InternalWhiteousee-mailspublishedbytheouseEnergyinvestigative
http://www.bloomberg.com/news/2011-09-01/obama-stands-by-renewable-energy-aid-after-solyndra-s-failure.htmlhttp://www.bloomberg.com/news/2011-09-01/obama-stands-by-renewable-energy-aid-after-solyndra-s-failure.htmlhttp://www.bloomberg.com/news/2011-09-01/obama-stands-by-renewable-energy-aid-after-solyndra-s-failure.htmlhttp://www.nytimes.com/2011/09/01/business/energy-environment/solyndra-solar-firm-aided-by-federal-loans-shuts-doors.htmlhttp://www.nytimes.com/2011/09/01/business/energy-environment/solyndra-solar-firm-aided-by-federal-loans-shuts-doors.html


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subcommitteelookingintoSolyndra'scollapseshowtherewasdeepconcernamongsomeadministrationofHicialsaboutSolyndra'slong-termviability.lawmakershavealsosuggestedthattheSolyndradealwentthroughdespiteadministrationconcernaboutthecompany'slong-termviabilitybecauseoneofthesolarHirm'stopinvestorswasafoundationcontrolledbyamajorObama

fundraiser.DuringaWhiteousenewsconference,ObamasaidRepublicanswereattackingaprogramthatstartedintheBushadministrationandthatsupportforclean-energyprogramshadlonghadbipartisanbacking.ObamaalludedtohowRep.CliffStearns,R-Fla.,andotherRepublicanshavelobbiedforclean-energyinitiativesinFlorida.Stearns,whoisnowleadingaousesubcommitteeinvestigationofSolyndra,signedatleastthreeletterstoEnergySecretaryStevenChuseekinggrantsorloanguaranteesforFloridaprojects.Stearnsisalsooneofatleast62RepublicanlawmakerswhohavelobbiedChuforclean-energymoney,accordingtoThinkProgress,ablogrunbytheliberal-leaning

"IheardtherewasaRepublicanmemberofCongresswho'sengaginginoversightonthis,"saidObama,referringtoStearns."Anddespitethefactthatalloftheminthepasthavebeensupportiveofthisloan-guaranteeprogram,heconcluded...wecan'tcompeteagainstChinawhenitcomestosolarenergy.Well,youknowwhat?Idon'tbuythat.I'mnotgoingtosurrendertoothercountries'technologicalleadsthatcouldendupdeterminingwhetherornotwe'rebuildingastrongmiddleclassinthiscountry."Meanwhile,ChuannouncedThursdaythattheheadoftheEnergyDepartment'sloan-guaranteeprogram,JonathanSilver,wasresigning.StearnscalledforSilver'sHiringlastmonth,adayafterStearns'subcommitteehadquestionedhimabouttheSolyndraloan.

Obamasaidtheprogramwasmeanttohelphigh-riskcompanies.

Script: Within the administration, the companys potential collapsehad long been discussed.

Text: Within the administration, the companys potential collapse hadlong been discussed.

Source: The Washington Post12/25/11

Script: Knowing all along, Solyndra would have to fire theirworkers.

Text: Email hold our announcment of the consolidation ofemployees.

Support: The Washington Post12/25/11


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Script: But Solyndra held off until after the 2010 elections.

Text: Email No announcement till after elections at DOE request.


Script: 1,100 workers had no idea they would be fired, but the ObamaAdministration knew.

Text: 1,100 workers fired


Script: All that mattered was the 2010 election optics, not workers.

Text: Email the optics of a Solyndra defualt will be bad.


Script: Its not about people; its politics. Solyndras workers feltbetrayed.

Text: Fired Solyndra worker: Its not about people; its politics. Weall feel betrayed.


Script: Today, 90% of Solyndras laid-off workers remainunemployed.

Text: An estimated 90 percent remain unemployed.


Solyndra:PoliticsinfusedObamaenergyprograms

ByJoeStephensandCarolD.Leonnig--TheWashingtonPost,12/25/11

LindaSteriorememberstheexcitementwhenPresidentObamaarrivedatSolyndralastyearanddescribedhowhisadministrationsHinancialsupportfortheplantwas


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helping create hundreds of jobs. The companys prospects appeared unlimitedasSolyndraexecutivesdescribedthebacklogofordersforitssolarpanels.

Then came the August morning when Sterio heard a newscaster announce thatmorethanathousandSolyndraemployeeswere outofwork.Onlyrecentlydidshe

learnthat, withinthe Obamaadministration,thecompanyspotentialcollapsehadlongbeendiscussed.

Itsnotaboutthepeople;itspolitics,saidSterio, whoremainsjoblessandatriskoflosingherhome.Weallfeelbetrayed.

Sincethefailureofthecompany,Obamasentire$80billionclean-technologyprogramhasbeguntolooklikeapoliticalliabilityforanadministrationabouttoenterabruisingreelectioncampaign.

Meant to create jobs and cut reliance on foreign oil, Obamas green-technologyprogramwasinfusedwithpoliticsateverylevel,TheWashingtonPostfoundinananalysis of thousandsof memos, company records and internal -e-mails. Politicalconsiderations were raised repeatedlyby company investors, Energy DepartmentbureaucratsandWhiteouseofHicials.

Therecords, some previously unreported, show that when warned that Hinancialdisastermight lie ahead, the administration remainedsteadfast inits supportforSolyndra.

ThedocumentsreviewedbyThePost,whichbeganexaminingtheclean-technologyprogramayearago, providea detailedlookinsidetheday-to-dayworkings oftheupperlevelsoftheObamaadministration.Theyalsogiveanunprecedentedglimpseintohigh-levelmaneuveringbypoliticallyconnectedclean-technologyinvestors.

TheyshowthatasSolyndratottered,ofHicialsdiscussedthepoliticalfalloutfromitstroubles,theopticsinWashingtonandtheimpactthatthecompanysfailurecouldhave on the presidents prospects for a second term. Rarely, if ever, was therediscussion of theimpact that Solyndras collapse would have on laid-offworkersoronthedevelopmentofclean-energytechnology.

Whats so troublingis that politics seems to be thedominant factor, said RyanAlexander, president of Taxpayers for Common Sense, a nonpartisan watchdoggroup.Theyrenottalkingaboutwhatthetaxpayersarelosing;theyrenottalkingabout thefailureofthetechnology,whetherwebetonthewronghorse.Whattheyaretalkingaboutisowarewegoingtomanagethispolitically?
http://www.washingtonpost.com/politics/solyndra-e-mails-dept-of-energy-was-poised-to-approve-469-million-for-firm/2011/10/05/gIQA0IvgNL_story.htmlhttp://www.washingtonpost.com/politics/solyndra-e-mails-dept-of-energy-was-poised-to-approve-469-million-for-firm/2011/10/05/gIQA0IvgNL_story.htmlhttp://www.washingtonpost.com/politics/obamas-focus-on-visiting-clean-tech-companies-raises-questions/2011/06/24/AGSFu9kH_story.htmlhttp://www.washingtonpost.com/politics/solyndra-solar-company-fails-after-getting-controversial-federal-loan-guarantees/2011/08/31/gIQAB8IRsJ_story.htmlhttp://www.washingtonpost.com/politics/solyndra-e-mails-dept-of-energy-was-poised-to-approve-469-million-for-firm/2011/10/05/gIQA0IvgNL_story.htmlhttp://www.washingtonpost.com/politics/solyndra-e-mails-dept-of-energy-was-poised-to-approve-469-million-for-firm/2011/10/05/gIQA0IvgNL_story.htmlhttp://www.washingtonpost.com/politics/solyndra-e-mails-dept-of-energy-was-poised-to-approve-469-million-for-firm/2011/10/05/gIQA0IvgNL_story.htmlhttp://www.washingtonpost.com/politics/solyndra-e-mails-dept-of-energy-was-poised-to-approve-469-million-for-firm/2011/10/05/gIQA0IvgNL_story.htmlhttp://www.washingtonpost.com/politics/solyndra-energy-department-failed-to-sound-alarm-as-solar-company-sank/2011/11/04/gIQAGQgfBN_story.htmlhttp://www.washingtonpost.com/politics/solyndra-energy-department-failed-to-sound-alarm-as-solar-company-sank/2011/11/04/gIQAGQgfBN_story.htmlhttp://www.washingtonpost.com/politics/obamas-focus-on-visiting-clean-tech-companies-raises-questions/2011/06/24/AGSFu9kH_story.htmlhttp://www.washingtonpost.com/politics/obamas-focus-on-visiting-clean-tech-companies-raises-questions/2011/06/24/AGSFu9kH_story.htmlhttp://www.washingtonpost.com/politics/solyndra-solar-company-fails-after-getting-controversial-federal-loan-guarantees/2011/08/31/gIQAB8IRsJ_story.htmlhttp://www.washingtonpost.com/politics/solyndra-solar-company-fails-after-getting-controversial-federal-loan-guarantees/2011/08/31/gIQAB8IRsJ_story.html


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The administration, which excluded lobbyists from policymaking positions, gaveeasyaccess to venturecapitalists withstakesinsomeofthe companies backedbytheadministration,therecordsshow.ManyofthoseinvestorshadgiventoObamas2008campaign.Sometookjobsintheadministrationandhelpedmanagetheclean-energyprogram.

Documents show that senior ofHicials pushed career bureaucrats to rush theirdecision on the loan so Vice President Biden could announce it during a trip toCalifornia. The records do not establish that anyone pressured the EnergyDepartmentto approvetheSolyndraloanto beneHitpoliticalcontributors,buttheysuggest that there was an unwavering focus on promoting Solyndra and cleanenergy. OfHicials withthe company and theadministration havesaid thatnothinguntowardoccurredandthattheloanwasgrantedonitsmerits.

Most documents that have been made public in connection with a congressionalinvestigationrelatetotheperiodaftertheloanwasgranted.Theprocessbeganinthe George W. Bush administrationbut resulted in the Hirst loan in theprogrambeinggrantedunderObama.Asaresult,manyfactorsthatledtoSolyndrawinningahalf-billion-dollarfederalloanremainunknown.

White ouse ofHicials saidthatallkey records regarding Solyndras loan approvalhavebeenreleased.

OfHicials acknowledgedthat someoftherecordsprovideanunvarnishedview thatthey might have preferred to keep private such as a senior energy advisersreferencetoaconferencecallaboutSolyndraasa[expletive]show,oracompany

investor writing that when Solyndra was mentioned in a meeting, Bidens ofHiceabouthadanorgasm.

OfHicialssaidthoseunHlatteringdisclosuresreinforcetheirpositionthattheyarenothiding their actions and that, despite the blemishes, nothing suggests politicalconsiderationsaffected theoriginaldecision to extend the loanto Solyndra. Theystressedthattheadministration disregardedadvicetoavoidpolitical problems byreplacingseniorEnergyDepartmentmanagersandmovingtoabortObamasvisittoSolyndra.

Everythingdisclosed. . .afHirms whatwesaidondayone:Thiswasamerit-baseddecision made by expert staffers at the Department of Energy, White ousespokesmanEricSchultzsaidinastatement.

OfHicialssaidthatconcernforworkerswasreHlectedintheadministrationsdecisiontoallowSolyndraemployeestoreceiveaidunderaprogramforworkersdisplacedbyforeigncompetition.


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When Solyndras liquidity crisis became clear, the Department of EnergyunderwentarobustefforttoHindaviablepathforwardforthecompany,theWhiteousespreparedstatementsaid.ThisadministrationisonethatwillHiercelyHighttoprotectjobsevenwhenitsnotthepopularthingtodo.

StarpowerinD.C.

Like most presidential appearances, Obamas May 2010 stop at Solyndrasheadquarterswascloselymanagedpoliticaltheater.

Obamashandlershadlengthye-maildiscussionsabouthowsolarpanelsshouldbedisplayed(fromaroboticarm,itwasdecided).Theycautionedthecompanyschiefexecutiveagainstwearingasuit (heoptedforanopen-neckshirt andblackslacks)andaskedanotherexecutivetowearahardhatandwhitesmock.Theyinstructedblue-collaremployeestoweareverydayworkclothes,topreservewhattheycalled

theconstruction-workerfeel.

White ouse e-mails suggest that the original idea for POTUS involvementoriginatedwiththen-ChiefofStaffRahmEmanuel. Emanuel,nowmayorofChicago,didnotrespondtoarequestforcommentfromThePost.

Well beyond the details of the factory photo op, raw political considerationssurfacedrepeatedlyinconversationsamongmanyintheadministration.

Just two days before the visit, Obama fundraiser Steve Westly warned senior

presidentialadviserValerieJarrettthatanappearancecouldbeproblematic.Westly,aninvestment fundmanager withstakes ingreen-energy companies, saidhewasspeakingforanumberofObamasupportersinaskingthepresidenttopostponethevisit because Solyndras Hinancial prospects were dim and the companys failurecouldgeneratenegativemediaattention.

The president should becareful about unrealistic/optimistic forecasts that couldhaunthiminthenext18monthsifSolyndrahitsthewall,Westlywrote.WestlydidnotrespondtoarequestforcommentfromThePost.

Similar concerns arose repeatedly among ofHicials inside the White ouse. One

staffer at theOfHice of Management and Budget suggested toa colleague that thevisitcouldproveembarrassingtotheadministrationinthenottoodistantfuture.EvenRonKlain,Bidenschiefofstaff,acknowledgedriskinthetrip.

Butadministration ofHicialsultimately waved off thejitters, after assurances fromEnergyDepartmentofHicialsthattheirpolicywassoundandthatSolyndrastroubles
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wouldbeHleeting.AfterObamastrip,theadministrationhungaphotofromhisvisitonawallintheWestWing,tounderscoregoodthingstocome.

Solyndras Hinancial picture did not improve, however, and by years end thecompanywascrumbling.Itsinvestorspitchedbailoutplans,seekinghelpfromwhat

aSolyndraexecutivereferredto astheBankofWashingtonhis apparenttermforU.S.taxpayers.TheEnergyDepartmentrebuffedtheplans,atleastinitially.

Inlate2010,SolyndraboardmemberSteveMitchelltoldhisassociatesthatEnergyDepartmentofHicialshadconcededthatadditionalHinancingwasnecessaryyetsaidin private meetings that they lacked the political muscle to deliver it. The DOEreally thinks politically before it thinks economically, Mitchell concluded. AspokesmanforMitchell saidhewouldhavenocommentforthisarticle.AnEnergyDepartment spokesman said that all decisions regarding the loan were based onmerit.

SolyndraeventuallyrealizedthatithadtolayoffworkerstostayaHloatnosmallstepforacompanythatthepresidenthadbackedtocreatejobsinarecession.But-recordsindicatethattheEnergyDepartmenturgedcompanyofHicials to delaythemove until after the contentious November 2010 midterm elections, whichimperiledDemocraticcontrolofCongress.

Despitethe effectthat timingmighthave onworkers, onee-mail amongcompanyinvestorsendedthediscussionbyasserting:Noannouncementtillafterelectionsatdoe request. AnEnergy Department spokesman did not respond to requests forcommentforthisarticle.

More than once, investors wrote that the administration appearedto be makingparticular decisions to avoid looking bad. A December 2010 e-mail betweenadministrationofHicialsstaffersseemedto conHirmthe suspicions,concludingthata meltdown at Solyndra would likely be very embarrassing for DOE and theAdministration.

Anoutsideenergyadviserforesawseriouspoliticaldamage, writingtoseniorWestWing ofHicials inFebruaryto warnthat because federal loanswent to companieslinked to Obama donors, a wave of Republican attacks are surely coming. e

recommendedthatObamaconsiderreplacingEnergySecretaryStevenChuandhisdeputies,perhapswithabipartisanmanagementteam.

ASolyndraboardmember,inamemo,describedatlengthmistakeshethoughtthatcompanyfounderChristianGronethadmade,sayingthatsomeofthestoriesabouthis actions border on moronic and that Gronets missteps had sparked anexecutivemutiny. -Gronet survived, theboardmembersuggested, onlybecause of


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his close relationship with Energy Department leaders and because he had starpowerinD.C.

Gronets attorney, Miles Ehrlich, said ina statementlast week that Gronetdidhisbest but -acknowledged that there had been internal debate about the business

strategieshechose.

Political calculus was especially on display in an e-mail early this year betweenadministrationstaffers who calibrated thedamagethat couldresultfrompushingbackSolyndrascollapsebyafewmonthsatatime.

The optics of a Solyndra default will be bad whenever it occurs, an OMB staffmemberwrote to a colleague. IfSolyndradefaultsdownthe road, theoptics willarguablybeworse later thantheywouldbetoday. . . . Inaddition, thetimingwilllikelycoincidewiththe2012campaignseasonheatingup.

Solyndra executives and investors were attuned to the value of playing politics.Memos from Solyndras lobbying Hirm, McBee Strategic Consulting, stressed theneed to socialize with leaders in Washington and to mobilize a lobbying effortdescribedvariouslyasquiet,surgicalandaggressive.

DinnerinVegas

Beyond the West Wing, the documents provide a vivid glimpse into high-levelmachinationsinsidetheworldofclean-energyentrepreneurs.

Solyndras strongest political connection was to George Kaiser, a Democraticfundraiserandoil industrybillionairewho hadoncehostedObamaathis home inOklahoma. Kaisers family foundationownedmorethan a thirdof thesolar panelcompany,andKaisertookadirectinterestinitsoperations.

Withthe2010midtermelectionsjustdays away, KaiserHlew to Las Vegasto helpthepartycause. ewasaguestat aprivatefundraisingdinner forSenateMajorityLeaderarryM.Reid(Nev.),buttherealattractionattheeventwasitsheadlinerObama. Realizinghemighthaveanopportunity to talk withthepresident, KaisersstaffpreppedhimwithtalkingpointsaboutSolyndra.

Kaiserdidnot have toangleforObamas attention.Organizers seatedhimnext totheworldsmostpowerfulmanfortwohours.

OK, Ill admit it. It was pretty intoxicating, Kaiser effused in an e-mail to anassociate at 5:30 the next morning. Charming and incisive as always. Casualconversation;notspeechifying.


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Kaiserdidnotsquanderhis time. WhileheavoidedtheuseofthewordSolyndra,accordingtotheaccounthelatergavetocolleagues,hecomplainedtothepresidentabout Chinesemanufacturersdumping cheap solar panels on the U.S. market andpressed Obamas deputy chiefofstaffabout the need for a BuyAmerican Actforfederal agencies. The company was intent on making the federal government a

major customer part of what a Solyndra investment adviser calledthe UncleSamstrategyandthenewactwouldgiveSolyndraanadvantage.

Kaiser,whohasdeclinedin-terviewrequests,saidthroughspokesmanRenziStonethathehasnotdiscussedSolyndrasloan withtheU.S.government.Othere-mailsshow that herejectedrequests totake a more forceful role inadvocatingfor thecompany.

Nonetheless,recordsshowthatKaiser,afrequentvisitortotheWhiteouse,wasincontact with ofHicials at Solyndra and its biggest investors, and advised them onleveragingthepoweroftheWestWing.

Why dont you pursue your contacts with the W? Kaiser advised a SolyndraboardmemberinOctober2010.

NonproHitlawspecialistssaidthatKaisersfocusonSolyndrawasstriking,becausehe had no ofHicial role at the company and had no personal investment in thecorporation. Afteramassinga fortuneinthe oilandbankingindustries, KaiserhadendowedanonproHitcorporationthatborehisname,buthedidnotsitonitsboard.

ThenonproHitcorporation,knownastheGeorgeKaiser FamilyFoundation,haditsowninvestmentfund,whichownedathirdofSolyndra. Mitchell, aSolyndraboardmember,wasthefundsmanager.

Despite those walls between Kaiser and Solyndra, e-mail exchanges show thatMitchell repeatedly sought Kaisers counsel and in one instance requested-authoritytomakeamajormove.

NonproHit experts stressedthat once Kaiser donated his money to charity andtherebyqualiHiedformillions ofdollars intaxbreaks themoneywasnolongerhisunderfederallaw.

KaiserarrivedinLasVegasontheFridaynightofthefundraiser,carryingaphotoofhimself and the president, which Obama signed for him. Over the evening, theoilmansconversationmovedfromsocialchattertobusiness.

Italkedingeneral abouttheChineseandsolar but didntwanttoget too speciHicwithhim,Kaisertoldassociates.Ididtalk to himabouttheChinesesubsidyover
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the past nine months and the effect it was having on U.S. solar and windmanufacturers. . . . I thought that amoreaggressivetradepolicywiththe Chinesewasessential.. . .[Obama]saidthattheseissueswouldbeaddressedaggressivelyattheG-20.

AsformajorityleaderReid,KaiserconHidedinhise-mails:arrywasmushynice. . .Baracksaidprivatelythatarrywouldwinbyasmallmargin.Ihopehesright.

StonesaidlastweekthatthedinnerwasonlythesecondtimeKaiserhadmetthepresident andthat there was nothing wrong withKaisertakinganinterestin thefoundation and its investments. While the foundations board respected Kaisersadvice,itsmembersmadealltheHinancialdecisions,hesaid.

Packingup

Today,ahandfulofSolyndraemployeesremainatitsSiliconValleyfactory,helpingwind down operations. Ofthe1,100workers who lost their jobs, anestimated90percent remainunemployed, suchasSterio. Shesrelying onhelpfromrelativestomake payments on her home, where she lives with her ailing husband andfourgrandchildren.

Solyndrahasfailedto attracta buyerwho wouldkeeptheplantoperating,so itistrying to unload its assets piecemeal to pay off its debts. The Hirst $75 millionrecoveredisexpectedtogotoKaisersnonproHitorganizationandotherinvestors;itisunclearhowmuchwillbeleftfortaxpayers.

Alongwithsellingitsmicroscopesandindustrialrobots,thecompanyinNovemberauctionedoff the30-foot-long bluebanner thatservedas abackdrop forObamasfactoryvisit.

WinningbidderScottLogsdon,alaid-offSolyndraworkerwhosbeenluckyenoughto land a new job, snappedup the sign for $400. es hoping that with all ofthepolitical attention Solyndras failure has received, the value of the sign willappreciatebyElectionDay.

Itreads:Solyndra. . .MadeintheUSA.

Script: Half a billion in taxpayer money--gone.

Text: blew through $535 million

Source: ABC News 9/23/11


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SolyndraExecsStonewallCongress

ByMatthewMoskandBrianRoss--ABCNews,9/23/11

Thetwo topexecutives ofthe bankruptsolarpower companySolyndrasatstone-facedbefore aCongressionalcommittee todayandinvokedtheir FifthAmendmentrights,ratherthanexplainhowtheyblewthrough$535millionintaxpayermoney.

"Letmejustwarnyouandtheotherfolksinvolvedinthistaxpayerrip-off,"EnergyandCommerceChairmanFredUpton(R-Mich.)toldtheSolyndraexecutives."We'renotdone.Nowe'renot."

ThedecisionofSolyndraCEOBrianarrisonandChiefFinancialOfHicerW.G.StovertorepeatedlyrefusetoanswerquestionsaboutSolyndra'sEnergyDepartmentloanguaranteewas thelatesttwist inanunfolding investigationinto thefailure oftheCaliforniasolarpanelmanufacturer,whichjustoneyearearlierhadbeentoutedasamodelofPresidentObama'sgreenjobsprogram.

TheObamaadministrationhadselectedSolyndraastheHirsttoreceivealoanunderaprogramdesignedtoprovidegovernmentsupporttocompaniesthatwouldcreatejobswhilegeneratingenergyfromcleanersources,suchassolar,windandnuclear.President Obamapersonallyvisitedthe Solyndracomplex, hailingitas aleaderinthisemergingHield.

InAugust, though, Solyndra abruptly shutits doors, layingoff 1,100workers. Andwithindaysitdeclaredbankruptcy. Friday'shearingwas thesecondintwo weeksby the ouse Energy and Commerce Committee's investigative subcommittee,intending to unwind the deal and understand how signs of Solyndra's HinancialtroublehadbeenoverlookedbytheDepartmentofEnergy.

"Iwant toask Mr. arrisonif hethinks theAmericanpeoplewho invested over ahalf a billion dollars deserve to know what happened to that money?" Rep. JoeBarton(R-Texas)askedthetwoexecutives.Bothdeclinedtoanswer,invokingtheirFifthAmendmentrights.

"Idon'tunderstandwhat'sself-incriminatingabout ayesornoanswertowhethertheAmericanpeopledeservetoknowwhathappenedtooverahalfabilliondollarsoftheirmoney,"Bartonsaid.

Forjustoveranhour,thetwomencontinuedtoremainmum.
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Rep.TimMurphy(R-Pa.)appearedannoyed,askingthementoexplaintheir"plantopaybackthetaxpayers$535millionyouowethem."

"Andwhenwillyoupaythemback?Mr.arrison?"hepressed.

Noreply.

Democratssaidthey,too,werepuzzledbythesilenceofexecutiveswhojustmonthsearlierhadsent a memo to Congress describingthe company as"ramping" upitsproduction, "competitive" with foreign rivals, and "on track" to hit its Hinancialtargetsfortheyear.

Thedocument obtained byABCNews, entitled "Exceeding Expectations:SolyndraToday,"appearsto have grosslydistorted thecompany'sactual Hinancial standing.Since Solyndrasent thedocument to CongressonJune23, followedby a mid-July

letter and personal visit making more claims about its Hinancial strength, thecompanyhasnotonlydeclaredbankruptcy,ithasbeenraidedbytheFBI.

"When Mr. arrison was in my ofHice in July he said that Solyndra's future wasbright,withsalesandproductionbooming,"saidRep.enryWaxman(D-Calif.)."I'dliketoknowwhyhetoldmethatinJulyandthenHiledforbankruptcyonemonthlater.UnfortunatelyIwillnotgetananswertoday."

Earlierthisweek, aSolyndra spokespersonsaidin a statement thatbotharrisonandStoverwouldbe"unabletoprovidesubstantiveanswerstotheSubcommittee's

questions,"andsaidthat"presentcircumstancesrequirebothgentlementoexercisetheirFifthAmendmentrights."

The statement added that Solyndra is unaware of any wrongdoing by companyofHicials related to the loan guarantee "or otherwise," and is cooperating withfederal investigators. "The company believes that the record will establish thatSolyndracarefullyfollowedtherulesofthecompetitiveapplicationprocess,startinginDecember2006undertheBushadministrationandcontinuingundertheObamaadministration."

Script: And Obama said this was a model of jobs and growth?

Text: Obama touts Solyndra as a model of his jobs program

Sources: President Obama 5/26/10;ABC NEWS 10/3/11


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RemarksbythePresidentontheEconomy

TheWhiteouse

OfHiceofthePressSecretary,5/26/10

Solyndra,Inc.Fremont,California

10:07A.M.PDT

TE PRESIDENT: Thank you. Everybody pleasehave a seat. (Applause.) It iswonderfultobehereandtoseeallofyouheretoday.AndIwouldberemissifIdidnotnote thepresence ofyourgovernor,givehim abigroundofapplause, ArnoldSchwarzenegger. (Applause.) Imjustgoingto goaheadandmentionourdistrict

attorney,Kamalaarris,whoshere.(Applause.)

It is great to be in Fremont, good to be back in Northern California. I wasreminiscinga littlebit --MichelleandItookourhoneymoonin NapaValley. Thatwas almost17yearsagowhenwe drovedownthePaciHic Coastighway, andsoIwas --Iwas fantasizingaboutgoingandrenting acar. (Laughter.) ButIwastoldthatwouldcauseastir,sonexttime.

ButitswonderfultobehereinNorthernCalifornia. It isalways nicetogetoutofWashingtonalittlebit.Now,dontgetmewrong,thecapitalisabeautifulplace,nice

monuments.Ihavenocommute--(laughter)--whichveryfewpeopleinCaliforniacansayistrueforthem.

But thetruthofthematteris, isthatwhenyoureinWashingtona lot oftimesallyourethinking aboutorall thatsbeingtalkedabout ispolitics --whosup,whosdown,thecontestbetweentheparties,insteadofpeoplerememberingwhyitisthattheyaspiredtogointopoliticsintheHirstplace.Weendupgettingcaughtupinthemomentinsteadofwhatisimportantforthefuture.

So I try to visit places like this about once a week, hear from folks as often aspossiblewhoareactuallydoingtheextraordinaryworkofbuildingupAmerica.AndIappreciatedthechanceto touryourplantandto see theincredible, cutting-edgesolar panels that youre manufacturing, but also the process that goes into themanufacturing of these solar panels. And it is just a testament to Americaningenuityanddynamismandthefactthatwecontinuetohavethebestuniversitiesin the world, the best technology in the world, and most importantly the bestworkersintheworld.Andyouguysallrepresentthat.Sothankyouverymuchforthat.(Applause.)


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Andwhile Imatit, Ialsowanttogivesomecredittothoseguys in theback whohavebeenbuildingthis facilityso thatwecanputmore peopleback to work andbuildmoresolarpanelstosendallacrossthecountry.Thankyouforthegreatworkthatyouguysaredoing.(Applause.)

Now, its Hittingthat this technology is beingpioneeredherein California. Whereelse, right? For generations, this part of the country has embodied theentrepreneurial spirit thathas always deHinedAmericassuccess. PeopleheadingWest.

Itwas herewhereweary buthopefultravelerscamewithpickaxes insearchof afortune. It was here that tinkerers and engineers turned a sleepy valley into acenterofinnovationandindustry.ItsherethatcompanieslikeSolyndraareleadingthewaytowardabrighterandmoreprosperousfuture.

Andyouredoingso atatimeofrealchallengeforAmerica. Idonthavetotell youthat. TheGovernordoesnt havetotellyouthat. Californiawashitashardasanystatebythehomemortgagecrisisandtheeconomicstormsthatfollowed.Eventhishigh-techcorridorwasnt immune. Foreclosures skyrocketed. ome values fell.Businesses slowed, from family restaurants to Fortune 500 companies. FremontlostthousandsofjobsastheNUMMIautoplantslowedproductionandshutdown--andthathurtnotonlyautoworkersbutlocalbusinessesandpartssuppliers.

Manyinthiscommunityarestillreelingfromtheeffectsoftherecession--andthatfollowedadecadeofstruggleandgrowingeconomic insecurityforalotofmiddle-classfamilies. Thetruthis, even thoughtheeconomy isgrowing andadding jobs

again,itsgoingtotakeawhiletocreatethefavorableconditionsforcommunitieslikethisonetoreboundandtoHlourish.ButwhatwasclearwhenIwalkedthroughtheOvalOfHicedoor,atatimeofmaximumperilinoureconomy, wheneconomistswerewarningwemightbegoingintoaGreatDepression,theHinancialsystemmightbe on the verge of collapse -- what was clear was that even though it might bedifHicultandeventhoughsomeofthethingswehadtodomightnotbepoliticallypopular-wehadtoact.Wecouldntacceptafuturethatwasmarkedbydecline.

And thats why we took a series of steps to stop what was nothing short of aneconomicfreefall. Wepassedaseriesoftaxcutsto putmoremoneyinthepocketsof working families right away -- including more than 12 million families inCalifornia.WeincreasedthePellGrant--whichbrought4millionadditionaldollars--$4millionofadditionalaidtostudentsrighthereinFremont.Webackedloanstosmallbusinesses--including$20milliontocompaniesinthiscommunityalone.

Wealsoprovidedreliefforthosehardesthit--whonotonlyneededhelp,butwouldmost likely use the relief to generate more economic activity. So we extendedunemployment beneHits for more than 3 million California residents and made


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COBRAcheaperforpeoplewhodlosttheirjobssotheycouldkeeptheirhealthcarefor their families. We provided $250 in relief to more than 5 million Californiaseniors--manywhoselifesavingshadtakenabighitintheHinancialcrisis.Andweprovided emergency assistance to our governors to prevent teachers and policeofHicersandHireHightersfrombeinglaidoffasaresultofstatebudgetshortfalls.Ata

timewhenCaliforniaisfacingaHiscalcrisis,weknowthatthishassavedthejobsoftensofthousandsofeducatorsandotherneededpublicservantsjustinthisstate.AndwhatwastrueinCaliforniawastrueallacrossthecountry.

Butourgoalindealingwiththiseconomiccrisiswasntjustaboutbringinganendtotherecession.Wesaidtoourselves,wevegottobuildanewfoundationforlastinggrowth. Wecanthaveaneconomy thatsjust builtonmaxingoutoncredit cardsandhome equity loans and complexHinancial instruments that aregeneratingbigbonusesbutcanpotentiallybringanentireeconomydown.

So we recognized that weve got to go back to basics. Weve got to go back tomakingthings.Wevegottogobacktoexports.Wevegottogobacktoinnovation.And we recognizedthattherewas only so much government coulddo. The trueengineofeconomicgrowthwillalwaysbecompanieslikeSolyndra, will alwaysbeAmericas businesses. But that doesnt mean the government canjust sit on thesidelines. Government still has theresponsibilityto help createtheconditions inwhich students can gain an education so they can work at Solyndra, andentrepreneurscangetHinancingsotheycanstartacompany,andnewindustriescantakehold.

Sothatswhy,evenaswecuttaxesandprovidedemergencyreliefoverthepastyear

-- wealso investedin basic research, in broadband networks, inrebuilding roadsandbridges, in health information technology, and inclean energy. Because notonly would this spur hiringby businesses -- it would create jobs in sectors withincrediblepotentialtopropeloureconomyforyears,fordecadestocome.Thereisnobetterexamplethanenergy.

Weallknowthepricewepayasacountryasaresultofhowweproduceanduse--and,yes,waste--energytoday.Wevebeentalkingaboutitfordecades--sincethegasshortages ofthe1970s. Ourdependenceonforeignoil endangers oursecurityandoureconomy. Climatechangeposes athreatto ourwayoflife--infact, werealready beginningto see itsprofoundandcostlyimpact. Andthespill intheGulf,

whichis just heartbreaking, onlyunderscores the necessity of seekingalternativefuelsources.Werenotgoingtotransitionoutofoilnextyearor10yearsfromnow.But think about it, part ofwhats happening intheGulfis that oil companies aredrillingamileunderwaterbeforetheyhitground,andthenamilebelowthatbeforetheyhitoil.With the increased risks, the increasedcosts,it gives youa senseof where weregoing. Werenotgoingtobeabletosustainthiskindoffossilfueluse.Thisplanet


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cant sustainit. Think about whenChinaandIndia-- whereconsumersthere arestartingtobuycarsanduseenergythewayweare.Soweveknownthatwevehadtoshiftinafundamentalway,andthatstrueforallofus.

Now, earliertodayIspoketo EnergySecretaryStevenChu, who,asyouknow,is a

Nobel Prize-winning physicist. And hes been on the scene in the Gulf, deeplyinvolvedin our efforts to bring this crisis to anend. And we discussed todaysattempt tostopthe leak throughwhatsknownasthetopkill,pluggingthewellwithdenselypackedmudtopreventanymoreoilfromescaping.Ifitssuccessful--andthere arenoguarantees--it shouldgreatlyreduceoreliminatetheHlow ofoilnow streaming into the Gulf from the sea Hloor. And if its not, there are otherapproachesthatmaybeviable.

And as work continues inthe nextcoupleof months tocompleterelief wells, myadministrationis intensively engagedwith scientists and engineers to explore allalternativeoptions,andweregoingtobringeveryresourcenecessarytoputastoptothis thing. Buta lotof damagehasbeendonealready-- livelihoodsdestroyed,landscapes scarred, wildlife affected. Lives have been lost. Our thoughts andprayersareverymuchwiththepeoplealongtheGulfCoast.

And let mereiterate: We will not rest until this well is shut, the environment isrepaired, and the cleanup is complete. And I look forward to returning thereonFridaytoreviewtheeffortscurrentlyunderwayandlendmysupporttotheregion.

Butevenaswearedealingwiththisimmediatecrisis, wevegottorememberthattherisksourcurrent dependenceonoilholds forour environment andourcoastal

communitiesisnottheonlycostinvolvedinourdependenceonthesefossilfuels.Around theworld, fromChina to Germany, ourcompetitors are waginga historiceffortto leadindevelopingnewenergy technologies. Therearefactories likethisbeingbuiltinChina,factorieslikethisbeingbuiltinGermany.Nobodyisplayingforsecondplace.Thesecountriesrecognizethatthenationthatleadsthecleanenergyeconomyislikelytoleadtheglobal economy.Andifwefailtorecognizethatsameimperative,weriskfallingbehind.Weriskfallingbehind.(Applause.)

Fifteenyearsago,theUnitedStatesproduced40percentoftheworldssolarpanels--40percent.Thatwasjust15yearsago.By2008,oursharehadfallentojustover5 percent. I dont know about you, but Im not prepared to cede Americanleadershipinthisindustry, becauseImnot preparedtocedeAmericasleadershipintheglobaleconomy.

Sothatswhyweveplacedabigemphasisoncleanenergy.Itstherightthingtodoforourenvironment, its therightthingto doforournationalsecurity, but itsalsotherightthingtodoforoureconomy.


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AndwecanseethepositiveimpactsrighthereatSolyndra.Lessthanayearago,wewere standing on what was an empty lot. But through the Recovery Act, thiscompanyreceivedaloantoexpanditsoperations.Thisnewfactoryistheresultofthoseloans.

Sincetheprojectbrokegroundlastfall,morethan3,000constructionworkershavebeen employed building this plant. Acrossthe country, workers -- (applause) --across the country, workers in 22 states are manufacturing the supplies for thisproject. Workers in a dozen states are building the advanced manufacturingequipmentthatwillpowerthisnewfacility. Whenitscompletedina fewmonths,Solyndraexpects tohirea thousandworkers to manufacturesolarpanels andsellthemacrossAmericaandaroundtheworld.(Applause.)

Andthis inturnwill generatebusinessforcompanies throughoutourcountrywhowillcreatejobssupplyingthisfactorywithparts andmaterials. Sotheresarippleeffect.Itsnotjustlocalizedtothisarea.

Meanwhile, down theroad, were seeing some other welcomesigns. I know theclosure ofthe NUMMI plant was devastatingto this communityandthousandsofjobs were lost. And it was all the more painful and heartbreaking because thefactory had been held up as an example of how America could lead inmanufacturing.

ButthankstoloansthroughtheDepartmentofEnergy,whichhelpedprovideTeslamotorswiththeHinancialwherewithaltoexpand,thatshutteredplantissoongoingtoreopen.(Applause.)Andonceagain--onceagain,itwillbeasymbolofpromise,

anexampleofwhatspossiblehereinAmerica.

Tesla isjoiningwithToyotainaventureto putathousandskilledworkers backtoworkmanufacturinganall-electriccar.(Applause.)Andthisisonlythebeginning.Wereinvestinginadvancedbattery technologiestopowerplug-inhybridcars. Infact, today in Tennessee theres a groundbreaking for an advanced batterymanufacturingfacilitythatwillgeneratehundredsofjobs.Anditwasmadepossibleby loans through the Department of Energy, as well as taxcredits and grants toincreasedemandforthesevehicles.

Weusedtoaccount forabout 2percent ofadvancedbatterytechnologies for cars.Were expecting, in the next couple years, to get up to 20, 30, maybe even 40percent,buildingourmarketsharerighthereintheUnitedStatesofAmerica.

Wereinvestinginanadvancedelectricitygrid.AndGovernorSchwarzeneggerandI were just talking about this before we came out, because this has been a bigpriorityforhim--thatwill bemoreefHicientandbetterabletoharnessrenewableenergysources. Wereprovidinggrantstobuildwindfarmsandinstallthesesolar


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panels, helping us double our ability to generate renewable energy. Wereexpandingourcapacityinbiofuelsto reduceourdependenceonoil. Wevehelpedforge one historic agreement -- and are on track to produce a second -- todramatically increasethe fuel efHiciencyof Americas cars and trucks. So wearemaking progress. Its progress thats going to produce jobs, thats going to help

secureourfuture.

Butwevestillgotmoreworktodo,andthatswhyImgoingtokeepHightingtopasscomprehensiveenergy andclimate legislationinWashington. (Applause.) Weregoingtotrytogetitdonethisyear,becausewhatwewanttodoiscreateincentivesthatwillfullyunleashthepotentialforjobsandgrowthinthissector.

Already were seeing the results of the steps weve taken. As I said, beforetheRecovery Act, we had the capacity to make less than 2 percent of the worldsadvanced vehiclebatteries. Inthenext Hive years,well make40percent ofthesebatterieshereintheUnitedStates. BeforetheRecoveryAct,we couldbuildjust5percentoftheworldssolarpanels.Inthenextfewyears,weregoingtodoubleoursharetomorethan10percent.

ere at this site, Solyndra expects to make enough solar panels each year togenerate 500 megawatts of electricity. And over the lifetime of this expandedfacility, thatcouldbelikereplacing as many aseight coal-Hiredpower plants. Itsalsoworthnoting,toachievethisdoublingofourshareofsolarcapacity,weactuallyneedtomakefourtimesasmanysolarpanels,becauseothercountriesareaddingcapacity,too.Nobodyinthisraceisstandingstill.

Sothesesteps arehelpingto safeguardourenvironment. Theyrehelpingtolowerourdependenceonoil.Atatimewhenpeoplearestrugglingandlookingforwork,thesesteps are helpingto strengthenour economyandcreatejobs. Weall knowhowimportantthatis, becausetimeshereinCaliforniaarestilltough. Its goingtotaketimetoreplacethemillionsofjobswelostinthisrecession.

Unemploymentremainshigh,eventhoughtheeconomyisgrowingandhasstartedaddinghundredsofthousandsofjobs eachmonth. Soit tookyearstodigourwayinto this hole; were not going to dig our way out overnight. But what you areprovinghere--allofyou,collectively--isthatasdifHicultasitwillbe,asfaraswevegot togo, wewillrecover. We will rebuild. Wewill emerge from this periodofturmoilstrongerthaneverbefore.

Thatsnot all. Yourealso provingsomething more. Everydaythat youbuild thisexpandedfacility,asyouHillordersforsolarpanelstoshiparoundtheworld,youredemonstrating that the promiseofcleanenergyisnt just anarticle of faith-- notanymore. Its not someabstractpossibility forscienceHictionmoviesor adistantfuture--10yearsdowntheroador 20years down theroad. Itshappeningright


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now.Thefutureishere.Werepoisedtotransformthewayswepowerourhomesandourcarsandourbusinesses. Andwerepoisedtoleadourcompetitorsinthedevelopmentofnewtechnologiesandproductsandbusinesses.Andwearepoisedto generate countless new jobs, good-paying middle-class jobs, right here in theUnitedStatesofAmerica.

Thatsthepromiseofcleanenergy.Andthankstothemenandwomenheretoday--andtheinnovatorsandtheworkersallacrossAmerica--itsa promisethat wevealreadybeguntofulHill.

So thankyouverymuch. Godblessyou. GodblesstheUnitedStatesofAmerica.(Applause.)END

ObamaonSolyndra:'HindsightIsAlways20/20'

ByMatthewMoskandRonnieGreene--ABCNEWSandiWATCNEWS,10/3/11

PresidentObamatoldABCNewsMondaythathedoesnotregrettoutingthesolarcompanySolyndraasamodelofhisjobsprogram,orloaning$535millionintaxpayermoneytothecompanybeforeitdeclaredbankruptcy.

"indsightisalways20/20,"Obamatold"GoodMorningAmerica"anchorGeorgeStephanopoulosinaninterviewbroadcastonlineMonday."Itwentthroughtheregularreviewprocessandpeoplefeltthatitwasagoodbet."Theinterviewwasthe

HirstunderanewalliancebetweenABCNewsandYahooNews.

ABCNewsaskedthepresidentabouttheSolyndraloanasCongressreleasedWhiteouseemailsthatshowatopdonortoObamawasindirectcontactwithoneofthepresident'sclosestadvisersaboutthefederalenergyloanprogram.SteveWestly,aCaliforniaventurecapitalistwhoraisedmorethan$500,000forObama'scampaign,exchangedemailswithValerieJarrett,oneofObama'sclosestadvisers,towarnheraboutpoliticalfalloutthatcouldensueifthepresidentvisitedthefactorybeingbuiltbySolyndra.

"Couldyouperhapscheckwith[theEnergyDepartment]tomakesurethey'recomfortablewiththecompany?Ijustwanttohelpprotectthepresidentfromanythingthatcouldresultinnegativeorunfairpress,"Westlysaid."Ifit'stoolatetochange/postponethemeeting,thepresidentshouldbecarefulaboutunrealistic/optimisticforecaststhatcouldhaunthiminthenext18monthsifSolyndrahitsthewall,Hilesforbankruptcy."
http://abcnews.go.com/Blotter/feds-solyndra-execs-provide-financial-info/story?id=14642995http://abcnews.go.com/Blotter/solyndra-execs-stonewall-congress/story?id=14589597http://abcnews.go.com/Blotter/feds-solyndra-execs-provide-financial-info/story?id=14642995http://abcnews.go.com/Blotter/feds-solyndra-execs-provide-financial-info/story?id=14642995http://abcnews.go.com/Blotter/solyndra-lowest-interest-rate/story?id=14460246http://abcnews.go.com/Blotter/solyndra-lowest-interest-rate/story?id=14460246http://abcnews.go.com/Blotter/solyndra-execs-stonewall-congress/story?id=14589597http://abcnews.go.com/Blotter/solyndra-execs-stonewall-congress/story?id=14589597


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InMay2010,WhiteouseofHicialsbegantoorganizeatripforPresidentObamatovisittheSolyndrafactorythatultimatelyoccurredonMay25,2010.

TheemailswerereleasedbyDemocratsontheouseEnergyandCommerce

CommitteeMondaytoemphasizethatnogovernmentdecisionsrelatingtoSolyndrawereinHluencedbyconsiderationsrelatingtocampaigndonations.owever,theemailsalsoshowfortheHirsttimethatamajordonorhadaccesstotoppresidentialadvisersonmattersconcerningtheloanprogram.

"TheDemocratsdenythatanypoliticalinHluencewasinvolved,yetintheirownmemotheyhighlighttheroleofObamafundraiserSteveWestlyinthediscussions,"saidRep.CliffStearns,R.-Fla.,whochairstheEnergyandCommercesubcommitteethathasbeeninvestigatingtheSolyndraloan.

TheemailsalsoshowdeepreservationsfromanalystsattheOfHiceofManagementandBudgetaboutthedecisiontoloan$535milliontoSolyndra--reservationsthathavesincebeenjustiHied.Lastmonth,theCaliforniasolarpowercompanyHiledforbankruptcy,andtheirofHiceswereraidedbytheFBI.ThenewdocumentsalsoshowtherewasvigorousdebateinsidetheWhiteouseaboutthewisdomofmakingriskyinvestmentsincleanenergywithtaxpayerdollars.

ThemostpointedexampleofthatcameduringanemailexchangebetweentopWhiteouseeconomicadvisorLarrySummersandSolyndrainvestorBradJones,ofRedpointVentures.InDecember2009,SummerssoughtadvicefromJonesabout

theadministration'seconomicpolicy.

JonesreplyincludedaharshassessmentoftheEnergyDepartment'sloanprogram.

"Theallocationofspendingtocleanenergyishaphazard,"hewrote."Thegovernmentisjustnotwellequippedtodecidewhichcompaniesshouldgetthemoneyandhowmuch.Oneofoursolarcompanieswithrevenuesoflessthan$100million(andnotyetproHitable)receivedagovernmentloanof$580million;whilethatisgoodforus,Ican'timagineit'sagoodwayforthegovernmenttousetaxpayermoney."

Summersacceptedthecritique,saying,"Irelatewelltoyourviewthat[government]isacrappyvc[venturecapitalist]"

WhiteHouseonJarrett:'It'sInHerJobDescription'


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TheemailexchangesbetweenSummersandJones,andtheexchangebetweenJarrettandWestly,allpointtoacommonpracticeinsidetheWhiteouse,accordingtoanadministrationofHicialwhoagreedtoanswerquestionsfromABCNewsaboutthedocumentsontheconditionhenotbeidentiHiedbecausethesubjectissensitive.

"PartofValerieJarrett'sjobistointeractwithfolksfromthebusinesscommunityinalldifferentsectorsoftheeconomy.It'sinherjobdescriptiontodothatkindofoutreachwithfolksintheprivatesector,"theadministrationofHicialsaid.

BoththeWhiteouseandtheEnergyDepartmentsaidtheemailssimplyprovethatthedepartmentengagedinhealthydebateabouttheloandecisionbeforefreeinguptaxpayermoneyforSolyndra'suse.

"ThisprogramwasestablishedbyCongresstosupportinnovative,cutting-edge

projectsthatbytheirnaturecarryadegreeofrisk,"saidDamienLaVera,anEnergyDepartmentspokesman."TheseemailsshowthattheAdministrationwasawareofthoserisks,andthatdecisionswerebasedonmorethantwoyearsofrigorousanalysisandduediligencebycareerofHicialsspanningtwoadministrations.Aswehaveconsistentlysaid,therewasathoughtfulandappropriatedebatewithintheAdministrationanddecisionsweremadesolelyonthemeritsoftheproject."

EricShultz,aWhiteousespokesman,saidtheemails"validatewhatwe'vesaidallalong,whichisthiswasamerit-baseddecisionmadebycareerstaffersattheDepartmentofEnergy.Andaswe'vesaidfromthebeginning,supportingHledglinginnovativetechnologiesassumessomerisk,butthatdoesn'tmeanweshouldthrow

upourhandsanddonothing,cedingthejobsofthefuturetoChinaoranyothercountry."

Inreleasingtheemails,ouseDemocratssaidtheysawahealthyinternaldebateaboutthewisdomofinvestinginthecleanenergysector.Obamahadembracedtheidea,dedicatinghundredsofmillionsofdollarsinanefforttohelpjumpstarttheHledgling"greenenergy"industry,createjobs,andimprovetheenvironment.

AstatementfromRep.enryWaxman,D-Calif.,rankingmemberoftheouseEnergyandCommerceCommittee,saidtheemailsshowtherewas"internaldisagreementwithintheAdministrationaboutSolyndra'sviabilityandtheeffectivenessoftheloanguaranteeprogramthroughouttheprocess."

AttheOfHiceofManagementandBudget--whereanalystsweretaskedwithassessingtheHinancialrisks--internalemailsshowdeepreservationsaboutlendingmoneytoSolyndra.


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"Baddaysarecoming,"oneemailwarnedinApril2010.OMBofHicialsalsoseemedconcernedwiththeDepartmentofEnergy'sapparentfailuretomonitortheprogressatcompaniesthatwereheavilybackedbygovernmentloans.

OneOMBofHicialwrote:"DOE's'system'formonitoringloansisquiteproblematic

(barelyanyreviewofmaterialssubmitted,nosynthesisforprogrammanagement,inherentconHlictsinoriginationteammembersmonitoringthedealstheystructured,etc)anddoesnotseemtobeaprogrampriority."

TheemailssurroundingtheObama'splanstovisittheSolyndraplantofferararelookbehindthescenesathoweverymovebythepresidentiscarefullymeasuredinadvanceforpoliticalbeneHitsandrisks.Andtheyshowtopdonors,suchasWestly,havetheconnectionsandtheabilitytoweighinonsuchdecisions.

ObamaDonorAppointedtoAdvisoryBoard

InMarch,ABCNewsandTheCenterforPublicIntegrity'siWatchNewsdocumentedhowWestlystraddledtheworldsofbigtimebundler,venturecapitalistforgreenenergyHirms--andWhiteouseinsider.

InAugust2010,Westlywasappointedtoahigh-poweredadvisoryboardtoEnergySecretaryStevenChu.Beforethatappointment,fourcompaniesintheWestlyGroupportfoliosecuredmorethanahalfbilliondollarsinDOEsupport.Lastmonth--asWestlycontinuedtoraisemoneyforObamaandadviseChu--aHifthHirmsecured

DOEbacking.EnergyDepartmentofHicialssaidtheloansandgrantswereawardedonmerit.

Intheemails,Westly'swarningsaboutthepoliticalrisksofvisitingSolyndraarecounteredbyotherconsiderations.

OneWhiteousestafferwrites:"POTUS[thePresident]couldmeetwithworkers/makeremarksatthenewbuildingsite,whichisveryconstruction/newjobsheavy.400+unionlaborworkersinhardhatsusingheavymachinerybothindoorsandoutdoors."

Atthesametime,aJuly21e-mailfromSolyndra'srepresentativesattheGloverParkGrouptostaffattheWhiteouseOfHiceofCommunicationspushesapositivemessageaboutthecompany,undertheheading"SolyndraMessages,"toutingthecompany's"strongfuture,""growthmarket,"andemphasizingthebeneHitsofsolarpanelsbeing"MadeintheUSA."


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Ultimately,theWhiteousedecidedtogoaheadwiththefactoryvisit.RonKlain,thenthechiefofstafftoVicePresidentBiden,wroteinanemailthateveryoneinvolvedunderstoodthereweregoingtoberiskswheneverHledglingcompanieslikeSolyndrawereinvolved.

"Soundsliketherearesomeriskfactorsherebutthat'strueofanyinnovativecompanythatPOTUSwouldvisit.ItlookslikeitisOKtome,butifyoufeelotherwise,letmeknow."

AnunnamedEnergyDepartmentofHicialthrowsinsupportforthevisit,tellingtheWhiteouse,"thecompanyshouldbestronggoingintothefallwiththeirnewfacilitiesonline."AnotherDepartmentofEnergyofHicialwrote:"Bottomlineisthatwebelievethecompanyisokayinthemediumterm,butwillneedsomehelpofonekindoranotherdowntheroad."

ButOMBanalystsremainedskeptical.OneofHicialwrotedarklyofthepresident'splanstoappearbeforeSolyndraworkersonthefactoryHloorinCalifornia:"opedoesn'tdefaultbeforethen."

Script: Stephanopoulos: Do you regret that?

Obama: No I dont...overall its doing well

Source: ABC News 10/3/11 http://goo.gl/O4TFf

GeorgeStephanopoulos'ABCNews/Yahoo!NewsExclusiveInterviewWithPresidentObama10/3/11

GEORGESTEPANOPOULOS:YourWhiteousehasfacedalotofquestionsonSolyndra,the--solarpanelcompanyyoupaidavisittobackin2010.Youreallyhelditupthenasamodelforjobsandcleanenergy.Doyouregretthat?

PRESIDENTOBAMA:No,Idon't,becauseifyoulookattheoverallportfolioofloanguaranteesthathavebeenprovided--overall,it'sdoingwell.Andwhatwealwaysunderstoodwasthatnoteverysinglebusinessisgoingtosucceedincleanenergy.ButifwewanttocompetewithChina,whichispouringhundredsofbillionsofdollarsintothisspace.Ifwewanttocompetewithothercountriesthatareheavilysubsidizingtheindustriesofthefuture,we'vegottomakesurethatourguysherein
http://goo.gl/O4TFfhttp://goo.gl/O4TFfhttp://goo.gl/O4TFf


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theUnitedStatesofAmericaatleasthaveashot.Nowtherearegonnabesomefailures,andSolyndra'sanexample.

GEORGESTEPANOPOULOS:--gettingwarningsnottobackthatcompanyup,nottovisit.

PRESIDENTOBAMA:Well--youknow,it--hindsightisalways20/20.Itwentthroughtheregularreviewprocess.Andpeoplefeltlikethiswasagoodbet.Butthefactofthematteris--isthatifwedon'tgetbehindcleanenergy,ifwedon'tgetbehindadvancedbatterymanufacturing,ifwe'renottheoneswhoarecreatingthecarsofthefuture,thenwe'renotgoingtobeabletomakestuffhereintheUnitedStatesofAmerica.AndoneofthemostimportantthingsthatIwanttodooverthenextseveralyearsisrestoreasensethatAmericacanmanufacture,butwedon'tjustpurchasestufffromsomeplaceelse,butwe'realsoexportingtoothercountries.