I’m going to take this to a different level. The following questions are directed to my usual readers. They are also directed to the actors in the Solyndra story. The DOE, OMB, company execs (past and current), the equity owners, the lawyers and the MSM could chime in with an explanation. This blogger/taxpayer is seeking some clarity on the following.
There are questions of who did what to whom and when. There is an aspect to this that has not yet (to my knowledge) been discussed in the media. (Note-I tried to make this easy to follow. It isn't. Sorry)
On July 29, 2011 (just five-weeks before going bankrupt) Solyndra (“SOL”) entered into a transaction whereby it sold both the Accounts Receivables (IOUs from panels sold) and the Inventory (panels) of the company ("the A/R Transaction”). Solyndra Financial (“SOLF”) (a subsidiary of SOL) was the seller. The purchaser was a newly formed company called Solyndra Solar II LLC (“SSII”). The following is the only information that I could find about SSII. Note that the company was organized in the Sate of Delaware one-day before the sale of significant assets of SOL.
Well, if you want to scam, cheat, and steal your way through the corporate world, Delaware is THE place to go. Its the home state of rip off credit card companies charging 34% interest and finance companies doing the same and home state to every "title loan" and "payday loan" rip-off company you can name. Under the guise of "business friendly", it gives carte-blanche to these sharks to tear consumers a new ace. The "people" can shrivel up and die a slow death as far as Delaware is concerned. The power of bribery, kickbacks, and payoffs to accomplish your business ends, no matter how nefarious or distasteful, is openly and proudly displayed in Delaware. Some of the businesses in that state are not even ALLOWED TO OPERATE in OTHER states, because their business model resembles loan-sharking. But Delaware just smiles and says "come on down!!!".
ReplyDeleteDelaware is a haven for companies to cheat and pull deception due to their tax laws. Many companies go to Delaware because Delaware doesn't care what they do, as long as they pay. Thanks Delaware. Not to mention that Biden is from Delaware.
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