Upside Down: Tech Group Agrees to Pay $90M for Solyndra Building That Cost $300M
When TheBlaze reported on Monday that a whole bunch of discarded Solyndra tubes had been turned into a modern art display, we wondered whether this “green” energy boondoggle could get any sadder.
Turns out, it can.
“Seagate Technology Plc, maker of hard drives and storage devices, has agreed to pay $90.3 million for the former manufacturing plant and headquarters building of bankrupt Solyndra LLC, which was financed by a controversial government loan, according to bankruptcy court documents,” Reuters reports.
So what’s the problem? At least the Solyndra building is one step closer to being sold, right?
Well, considering that the building originally cost $300 million, we’d say this is pretty depressing.
“Seagate’s offer will be considered an initial bid, or ‘stalking horse,’ which could be topped by a competing offer of at least $1 million more when an auction is held, according to court documents filed late Wednesday,” Reuters reports.
“Should a higher bid emerge, Seagate would be entitled to a breakup fee of $1.8 million, a little less than 2.6 percent of the technology company’s offer,” the report adds.
And Seagate wasn’t alone in its interest in the facility.
The Solyndra building “attracted interest from U.S., Chinese and European companies involved in industries such as solar energy, medical-related products, data centers and other technologies that need an ultra-clean manufacturing environment,” the report adds.
“The highest bid came from Seagate.”
Wait a minute. With more than just Seagate competing on the building, $90 million was the winning bid? Hot Air’sEd Morrissey gives his take:
This was the best competitive price for the facility — only 30% of what the Obama administration gave Solyndra to build it in the first place. Perhaps Congress should dig further into the construction process at Solyndra to see why a facility built with $300 million of taxpayer money only had $90 million of value, because at first blush, it looks like a lot of money went elsewhere than the facility.
Of course, there could be a simple explanation that the people involved in the sale of the building simply aren’t telling us. The only thing that we know for certain is this: Taxpayers are never, ever going to get back the half-billion that went into this failed project.
The American People are seeing clearly for the first time just how Bias and Liberal all of our Major News Networks have become. Rather then reporting the News to the American People they are Promoting nothing short of Full Fledged Socialist Propaganda at the Beckoning of this Socialist/Marxist President.
Case in Point
Occupy Wall Street (OWS) have had over 6,000 Arrests since its inception last year while the Tea Party Rallies of the last Two Years have recorded zero arrests except for outside agitators.
So, what was the News Media‘s Stand on all of this?
The Truth About America’s Oil Resources and Obama’s Refusal on the Keystone Project
Here’s an astonishing read. Important and verifiable information :About 6 months ago, the writer was watching a news program on oil and one of the Forbes Bros. Was the guest. The host said to Forbes, “I am going to ask you a direct question and I would like a direct answer; how much oil does the U.S. Have in the ground?” Forbes did not miss a beat, he said, “more than all the Middle East put together.” Please read below.The U. S. Geological Service issued a report in April 2008 that only scientists and oil men knew was coming, but man was it big.
It was a revised report (hadn’t been updated since 1995) on how much oil was in this area of the western 2/3 of North Dakota, western South Dakota, and extreme eastern Montana ….. Check THIS out:
The Bakken is the largest domestic oil discovery since Alaska ‘s Prudhoe Bay , and has the potential to eliminate all American dependence on foreign oil. The Energy Information Administration (EIA) estimates it at 503 billion barrels. Even if just 10% of the oil is recoverable… At $107 a barrel, we’re looking at a resource base worth more than $5…3 trillion.“When I first briefed legislators on this, you could practically see their jaws hit the floor.
They had no idea..” says Terry Johnson, the Montana Legislature‘s financial analyst.“This sizable find is now the highest-producing onshore oil field found in the past 56 years,” reportsThe Pittsburgh Post Gazette. It’s a formation known as the Williston Basin , but is more commonly referred to as the ‘Bakken’ It stretches from Northern Montana , through North Dakota and into Canada . For years, U. S. Oil exploration has been considered a dead end.
Even the ‘Big Oil‘ companies gave up searching for major oil wells decades ago. However, a recent technological breakthrough has opened up the Bakken’s massive reserves….. And we now have access of up to 500 billion barrels. And because this is light, sweet oil, those billions of barrels will cost Americans just $16 PER BARREL!That’s enough crude to fully fuel the American economy for 2041 years straight. And if THAT didn’t throw you on the floor, then this next one should – because it’s from 2006!U.. S. Oil Discovery- Largest Reserve in the WorldStansberry Report Online – 4/20/2006 Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the largest untapped oil reserve in the world.
It is more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction. In three and a half years of high oil prices none has been extracted. With this motherload of oil why are we still fighting over off-shore drilling?They reported this stunning news:
We have more oil inside our borders, than all the other proven reserves on earth.. Here are the official estimates:
– 8-times as much oil as Saudi Arabia- 18-times as much oil as Iraq – 21-times as much oil as Kuwait- 22-times as much oil as Iran- 500-times as much oil as YemenHOW can this BE? HOW can we NOT BE extracting this?
Because the environmentalists and others have blocked all efforts to help America become independent of foreign oil! Again, we are letting a small group of people dictate our lives and our economy…..WHY?
James Bartis, lead researcher with the study says we’ve got more oil in this very compact area than the entire Middle East -more than 2 TRILLION barrels untapped. That’s more than all the proven oil reserves of crude oil in the world today, reports The Denver Post.
Don ‘t think ‘OPEC’ will drop its price – even with this find? Think again! It’s all about the competitive marketplace, – it has to. Think OPEC just might be funding the environmentalists?
The Truth About Climate Change and Obama’s Carbon Tax
Are you sitting down?
Okay, here’s the bombshell. The volcanic eruption in Chile, since its first spewing of volcanic ash has, in just FOUR DAYS, NEGATED EVERY SINGLE EFFORT you have made in the past five years to control CO2 emissions on our planet – all of you.
Of course you know about this evil carbon dioxide that we are trying to suppress – it’s that vital chemical compound that every plant requires to live and grow, and to synthesize into oxygen for us humans, and all animal life.
I know, it’s very disheartening to realise that all of the carbon emission savings you have accomplished while suffering the inconvenience and expense of:
* driving Prius hybrids,
* buying fabric grocery bags,
* sitting up till midnight to finish your kid’s “The Green Revolution” science project,
* throwing out all of your non-green cleaning supplies,
* replacing all of your 50 cents light bulbs with $10.00 light bulbs…
well, all of those things you have done have all gone down the tubes in just four days.
The volcanic ash emitted into the Earth’s atmosphere in just four days – yes – FOUR DAYS ONLY by that volcano in Chile, has totally erased every single effort you have made to reduce the evil beast, carbon. And there are around 200 active volcanoes on the planet spewing out this crud any one time – EVERY DAY.
I don’t really want to rain on your parade too much, but I should mention that when the volcano Mt Pinatubo erupted in the Philippines in 1991, it spewed out more greenhouse gases into the atmosphere than the entire human race had emitted in its entire YEARS on earth.. Yes folks, Mt Pinatubo was active for over one year – think about it.
Of course I shouldn’t spoil this touchy-feely tree-hugging moment and mention the effect of solar and cosmic activity and the well-recognized 800-year global heating and cooling cycle, which keep happening, despite our completely insignificant efforts to affect climate change.
And I do wish I had a silver lining to this volcanic ash cloud but the fact of the matter is that the bush fire season across the western USA and Australia this year alone will negate your efforts to reduce carbon in our world for the next two to three years. And it happens every year.
Just remember that your government has imposed a whopping carbon tax on you on the basis of the bogus “human-caused” climate change scenario.
Hey, isn’t it interesting how they don’t mention “Global Warming” any more, but just “Climate Change” – you know why? It’s because the planet has COOLED by 0.7 degrees in the past century and these global warming bull artists got caught with their pants down.
And just keep in mind that you might yet have an Emissions Trading Scheme – that whopping new tax – imposed on you, that will achieve absolutely nothing except make you poorer. It won’t stop any volcanoes from erupting, that’s for sure.
By the way, have you ever wondered about China or Russia’s Carbon Foot Print and what they are or are not doing to reduce it?
‘Kill the Police’: Cops Arrest Hundreds of Occupy Oakland Protestors After Street Clashes
(The Blaze/AP)– Police arrested hundreds of Occupy Oakland protesters last Saturday night for failing to disperse hours after officers used tear gas on over a thousand demonstrators who threw rocks and flares at them and tore down fences.
More help from other police agencies arrived on scene for the mass arrests, with busloads of Alameda County sheriff’s deputies arriving in the downtown area late Saturday night.
Here is video taken from the livestream that shows police warning protestors that mass arrests are about to begin (content warning for profanity):
Police Sgt. Christopher Bolton said the arrests came after protesters marched through downtown Oakland a little before 8 p.m. Saturday, with some of them entering a YMCA building.
At different moments on the livestream video, protestors could be heard yelling “Kill the police” and “F**k the police.”
This clip captures the moment on the livestream that police began the mass arrests:
Earlier in the day, police used tear gas and “flash” grenades on the group Saturday afternoon after some demonstrators threw rocks and other objects at them. Police said three officers were hurt, but they released no details.
This clip shows Occupy Oakland protestors in retreat after police opened fire with rubber bullets and tear gas:
Read the rest of this story and see more video’s at The Blaze:
Let’s take a look at those who Support and Endorse these Occupy Wall Street Protests
This Is the Comprehensive List of Those Supporting Occupy Wall St.
Local supporters:
Communist Party USA
The American Nazi Party
Revolutionary Communist Party
Black Panthers
Nation of Islam’s Louis Farrakhan
CAIR
Some big names in the political world have also lent support to the cause:
President Barack Obama
Vice President Joe Biden
Nancy Pelosi
International Leaders and Governments:
Iran’s Supreme Leader, the Ayatollah Khamenei
Hugo Chavez
Revolutionary Guards of Iran
The Govt of North Korea
Communist Party of China
Hezbollah
Show me your Friends and I’ll tell you who You Are
Show me your friends and I’ll tell you who you are
That line is one of the famous “Mom-ilies” often heard in homes all around the country. Perhaps mothers have drawn this wisdom from the Bible and Proverbs 13:20:
“He who walks with wise men will be wise, but the companion of fools will suffer harm.”
Either way, The Blaze has presented details on the people inside the OWS movement as well as those believed to be supporting it with money, material goods (sleeping bags, non-perishable foods, etc.), organizational skills, and even storage space. We have named names from the White House to the American Nazi Party, we have shown connections to several unions (like SEIU, UFT, and TWU) and pointed out the organizers like the Working Families Party and ACORN.
A look at Obama’s rhetoric Tuesday night and how it fits with the facts and political circumstances:
OBAMA: “We have subsidized oil companies for a century. That’s long enough. It‘s time to end the taxpayer giveaways to an industry that’s rarely been more profitable, and double-down on a clean energy industry that’s never been more promising.”
THE FACTS: This is at least Obama’s third run at stripping subsidies from the oil industry. Back when fellow Democrats formed the House and Senate majorities, he sought $36.5 billion in tax increases on oil and gas companies over the next decade, but Congress largely ignored the request. He called again to end such tax breaks in last year’s State of the Union speech. And he’s now doing it again, despite facing a wall of opposition from Republicans who want to spur domestic oil and gas production and oppose tax increases generally.
OBAMA: “Our health care law relies on a reformed private market, not a government program.”
THE FACTS: That’s only half true. About half of the more than 30 million uninsured Americans expected to gain coverage through the health care law will be enrolled in a government program. Medicaid, the federal-state program for low-income people, will be expanded starting in 2014 to cover childless adults living near the poverty line.
The other half will be enrolled in private health plans through new state-based insurance markets. But many of them will be receiving federal subsidies to make their premiums more affordable. And that’s a government program, too.
Starting in 2014 most Americans will be required to carry health coverage, either through an employer, by buying their own plan, or through a government program.
—
OBAMA, asking Congress to pay for construction projects: “Take the money we’re no longer spending at war, use half of it to pay down our debt, and use the rest to do some nation-building right here at home.”
THE FACTS: The idea of taking war “savings” to pay for other programs is budgetary sleight of hand. For one thing, the wars in Iraq and Afghanistan have been largely financed through borrowing, so stopping the wars doesn’t create a pool of ready cash, just less debt. And the savings appear to be based at least in part on inflated war spending estimates for future years.
—
OBAMA: “Through the power of our diplomacy a world that was once divided about how to deal with Iran’s nuclear program now stands as one.”
THE FACTS: The world is still divided over how to deal with Iran’s disputed nuclear program, and even over whether the nuclear program is a problem at all.
It is true that the U.S., Europe and other nations have agreed to apply the strictest economic sanctions yet on Iran later this year. But the global sanctions net has holes, because some of Iran‘s large oil trading partners won’t go along. China, a major purchaser of Iran’s crude, isn’t part of the new sanctions and, together with Russia, stopped the United Nations from applying similarly tough penalties.
—
OBAMA: “Tonight, I want to speak about how we move forward, and lay out a blueprint for an economy that’s built to last – an economy built on American manufacturing, American energy, skills for American workers, and a renewal of American values.”
THE FACTS: Economists do see manufacturing growth as a necessary component of any U.S. recovery. U.S. manufacturing output climbed 0.9 percent in December, the biggest gain since December 2010. Yet Obama’s apparent vision of a nation once again propelled by manufacturing – a vision shared by many Republicans – may already have slipped into the past.
Over generations, the economy has become ever more driven by services; not since 1975 has the U.S. had a surplus in merchandise trade, which covers trade in goods, including manufactured and farm goods. About 90 percent of American workers are employed in the service sector, a profound shift in the nature of the workforce over many decades.
The overall trade deficit through the first 11 months of 2011 ran at an annual rate of nearly $600 billion, up almost 12 percent from the year before.
—
OBAMA: “The Taliban’s momentum has been broken, and some troops in Afghanistan have begun to come home.”
THE FACTS: Obama is more sanguine about progress in Afghanistan than his own intelligence apparatus. The latest National Intelligence Estimate on Afghanistan warns that the Taliban will grow stronger, using fledgling talks with the U.S. to gain credibility and stall until U.S. troops leave, while continuing to fight for more territory. The classified assessment, described to The Associated Press by officials who have seen it, says the Afghan government hasn’t been able to establish credibility with its people, and predicts the Taliban and warlords will largely control the countryside.
—
OBAMA: “On the day I took office, our auto industry was on the verge of collapse. Some even said we should let it die. With a million jobs at stake, I refused to let that happen. In exchange for help, we demanded responsibility. We got workers and automakers to settle their differences. We got the industry to retool and restructure. Today, General Motors is back on top as the world’s number one automaker. Chrysler has grown faster in the U.S. than any major car company. Ford is investing billions in U.S. plants and factories.”
THE FACTS: He left out some key details. The bailout of General Motors and Chrysler began under Republican President George W. Bush. Obama picked up the ball, earmarked more money, and finished the job. But Ford never asked for a federal bailout and never got one.
—
OBAMA: “We can also spur energy innovation with new incentives. The differences in this chamber may be too deep right now to pass a comprehensive plan to fight climate change. But there‘s no reason why Congress shouldn’t at least set a clean energy standard that creates a market for innovation.”
THE FACTS: With this statement, Obama was renewing a call he made last year to require 80 percent of the nation’s electricity to come from clean energy sources by 2035, including nuclear, natural gas and so-called clean coal. He did not put that percentage in his speech but White House background papers show that it remains his goal.
But this Congress has yet to introduce a bill to make that goal a reality, and while legislation may be introduced this year, it is unlikely to become law with a Republican-controlled House that loathes mandates.
—
OBAMA: “Right now, because of loopholes and shelters in the tax code, a quarter of all millionaires pay lower tax rates than millions of middle-class households.”
THE FACTS: It’s true that a minority of millionaires pay a lower tax rate than some lower-income people. On average, though, wealthy people pay taxes at a much higher rate than middle-income taxpayers.
Obama’s claim comes from a Congressional Research Service report that compared federal taxes paid by people making less than $100,000 with those paid by people making more than $1 million. About 10 percent of families with incomes under $100,000 paid more than 26.5 percent in federal income, payroll and corporate taxes. And about a quarter of millionaire taxpayers paid a rate lower than that.
—
OBAMA: “We can‘t bring back every job that’s left our shores…. Tonight, my message to business leaders is simple: Ask yourselves what you can do to bring jobs back to your country, and your country will do everything we can to help you succeed.”
FACT CHECK: Many of the jobs U.S. companies have created overseas won’t return because they were never in the United States in the first place.
As Obama said in his speech, U.S. workers have become more productive and labor costs have fallen.
But there are powerful forces pushing the other way: Many of the overseas jobs in U.S. companies weren’t transferred from the U.S. They were created in fast-growing markets in Latin America, Asia and elsewhere to serve customers in those markets. Companies in the Standard & Poor’s 500 index now earn more than half of their revenue from overseas.
That has fueled more job creation abroad. U.S. multinationals cut more than 800,000 jobs in the United States from 2000 to 2009, according the Commerce Department. They added 2.9 million overseas in the same period.
—
OBAMA: “Anyone who tells you that America is in decline or that our influence has waned doesn‘t know what they’re talking about … That’s not how people feel from Tokyo to Berlin; from Cape Town to Rio; where opinions of America are higher than they’ve been in years.”
THE FACTS: Obama left out Arab and Muslim nations, where popular opinion of the U.S. appears to have gone downhill or remained unchanged after the spring 2011 reformist uprisings in the Middle East. A Pew Research Center survey in May found that in predominantly Muslim countries such as Turkey, Jordan and Pakistan, views of the U.S. were worse than a year earlier. In Pakistan, a major recipient of U.S. foreign aid that went unmentioned in Obama’s speech, just 11 percent of respondents said they held a positive view of the United States.
The world’s a scary place. Wars, famines, corrupt politicians, terrorism, imploding economies — the list goes on. There are plenty of issues worth fearing, which is why a subset of the nation is preparing for what they see as impending calamity.
These individuals, dubbed “preppers,” are stocking up on food, guns, water and other items that they may need should the economy erupt or a massive natural disaster strike. With so many possibilities for problematic occurrences, these individuals want to ensure that they can live beyond any tragically defining moments.
Most preppers are fearful of the prospects of no governmental structure — something that some see as a possibility amidst economic woes and political strife. Back in 2009, a Newsweek report described this phenomenon:
In the late 1990s, Y2K fears brought survivalism to the mainstream, only to usher it back out again when disaster didn’t strike. (Suddenly, unused survival gear began showing up in classifieds and on eBay.) A decade later, “preppers” are what you might call survivalism’s Third Wave: regular people with jobs and homes whose are increasingly fearful about the future…
Watch some preppers discuss their lifestyle, below:
Reuterspublished a report this weekend, highlighting some of the preppers out there who are stockpiling and awaiting what they see as the inevitable. To begin, there’s Patty Tegeler, a 57-year-old who lives in Virginia’s Appalachian Mountains.
“In an instant, anything can happen,” she said. “And I firmly believe that you have to be prepared.”
Tegeler’s home has essentially been prepared for whatever may come. She has a large generator, water tanks, portable heaters and enough freeze-dried food to lock herself inside and to keep nourished for two years.
Wondering how she secured these items? There’s an entire market that caters to these individuals (most vendors operate on the internet). These companies sell many of the items that Tegeler has in her own home, as they teach skills or sell the products needed to ensure individual and family survival pending disaster.
Conservative talk radio host Glenn Beck seems to preach preppers’ message when he tells listeners: “It’s never too late to prepare for the end of the world as we know it.”
“With our current dependence on things from the electric grid to the Internet, things that people have absolutely no control over, there is a feeling that a collapse scenario can easily emerge, with a belief that the end is coming, and it is all out of the individual’s control,” [Cathy Gutierrez, an expert on end-times beliefs at Sweet Briar College in Virginia] told Reuters.
While many would dub survivalist behaviors as silly or a waste of time, preppers separate themselves from the likes of Harold Camping and other leaders who have set dates for what they promise to be apocalyptic conclusions to societal existence. Preppers like Tegeler claim that their items won‘t go to waste regardless of whether there’s a collapse or not. For these individuals it’s all about being ready for anything that could unfold.
And there’s plenty of media outlets for these individuals to consume, as they share tips and communicate with one another. Blogs like lawyer Michael T. Snider’s “The Economic Collapse” focus upon the themes surrounding the economy’s potential bust.
“Most people have a gut feeling that something has gone terribly wrong, but that doesn’t mean that they understand what is happening,” Snider said. “A lot of Americans sense that a massive economic storm is coming and they want to be prepared for it.”
Then there’s James Wesley Rawles, a former Army intelligence officer, who is behind the “Survival Blog,” an online outlet that preppers regularly read.
“We could see a cascade of higher interest rates, margin calls, stock market collapses, bank runs, currency revaluations, mass street protests, and riots,” he said in an interview with Reuters. “The worst-case end result would be a Third World War, mass inflation, currency collapses, and long term power grid failures.”
A screen shot from the American Preppers Network
Tom Martin launched “American Prepper’s Network” back in 2009 — a daily blog and support network that attracts thousands of individuals each week. The most recent post on the site’s blog reads:
Man-made disasters come in many forms. The most obvious would be spills and contamination caused by deteriorating materials, poor driving, train derailments, pipeline maintenance (or lack thereof), infrastructure collapse, policies that lead to coastal erosion, policies that contribute to widespread forest fires, sub-standard building codes, etc. There are other potential disasters that can be even more far-reaching. These include, but not limited to, monetary policies, tax codes, currency issues, stock market crashes, credit down grades, recession/depression, inflation/hyper-inflation (alaWeimar republic) and devaluation of a currency. Venezuela, Japan and others have experienced these events.
The list of possibilities is long and growing, but again, the prudent man attempts to prepare. For his family and his continued well-being.
This is only a small lens into the prepper movement, but this is nothing new. Throughout history, subsets of American society have remained ready and prepared for whatever may come. While critics may dub it an over reaction, preppers feel they’re simply being prudent.
For a glimpse into some others who are “prepping” for the future, be sure to watch GBTV’s “Independence USA” — a reality show featuring a family trying to live off the grid.
Communist Party USA
The American Nazi Party
Revolutionary Communist Party
Black Panthers
Nation of Islam’s Louis Farrakhan
CAIR
President Barack Obama
Vice President Joe Biden
Nancy Pelosi
Iran’s Supreme Leader, the Ayatollah Khamenei
Hugo Chavez
Revolutionary Guards of Iran
The Govt of North Korea
Communist Party of China
Hezbollah
