‘Abound Solar’ Under Investigation after Receiving Money from Obama’s Stinkulus Package and Going Bankrupt
As Romney so deftly said to Obama during the first debate, “You don’t just pick the winners and losers, you pick the losers all right!”:
Abound Solar under investigation by Weld County district attorney; received $68 million stimulus
Abound Solar declared bankruptcy earlier this year
The Denver Channel ABC7 – By Marshall Zelinger
LONGMONT, Colo. – A bankrupt Longmont-based company that received $68 million in stimulus money is under investigation by the Weld County district attorney’s office.
7NEWS has confirmed Abound Solar is under investigation.
Abound made solar panels which it sold across the country, Europe and India.The Department of Energy approved nearly $370 million in federal stimulus money for Abound. The company received $68 million before payments were stopped in 2011.
Sources tell 7NEWS that the company’s finances are under scrutiny.
7NEWS obtained internal documents from 2012 that show orders for tens of thousands of replacement solar panels. The orders cite different reasons for the replacements including, “low performance,” “under performance” and “catastrophic failures.”
The orders are for replacements requested after the Department of Energy stopped stimulus money payments to Abound.
“These are solar panels we are now seeing reports that said they worked as long as you didn’t put them in the sun,” said Rep. Cory Gardner, R-Colo. “Now the question is did the (Department of Energy) — did they know something that the rest of should have known? Did Abound not tell the DOE something? These are questions that need to be answered.”
Yes. Yes, these questions do indeed need to be answered, but don’t expect any help from the Lame Stream Media—or Steven Chu, for that matter…Explore posts in the same categories: business, Economics, Environ-mental-ism, Money, Obama Sucks, politics, Technology