Think of how much good this federal energy money could have done developing proven resources.
Bankrupt Colo. solar firm sticks taxpayers for $68 million, doomed by poor quality
Despite glowing press clippings in which the CEO of Colorado-based Abound Solar claimed seven months ago that his company was the “anti-Solyndra,” the green-energy firm has filed for chapter 7 bankruptcy liquidation. It is terminating all 125 workers at its Loveland, Colo. headquarters, and is blaming China for its failure.House investigating bankrupt solar company backed by Obama bundler and DOE loan
The House Subcommittee on Regulatory Affairs, Stimulus Oversight and Government Spending invited the Abound Solar CEO and former CEO to testify, along with some Energy Department officials after the company announced it is filing for bankruptcy, despite drawing about $70 million of the $400 million available from the DOE loan guarantee.STRYKER ON THE STAND? Congress To Investigate Abound Solar Loan
As in the case of Solyndra, which declared bankruptcy last year, a bundler for President Obama’s campaign has a financial stake in the solar company.
As Todd Shepherd has exhaustively reported, Abound Solar had major problems before they got the loan, leading many to question how political connections helped the ailing company secure the loan.
If Congress is looking for a suggestion of people to subpoena, we might also suggest former one-term Governor Bill Ritter. According to The Denver Post, Ritter "hand delivered two letters of support" for Abound Solar directly to Obama's Secretary of Energy, Steven Chu. After Ritter left office, Stryker's Bohemian Companies helped fund a $300,000 salary for Ritter at a new renewable energy center at CSU