Latest “Rick Perry Is A Meanie” meme: Perry cruelly slashed funds for TX firefighters

Back in March of this year, Austin TV station KVUE reported:

State funding for volunteer fire departments is taking a big hit. It is going from $30 million to $7 million. Those departments are already facing financial strains. The State Firemen’s and Fire Marshals’ Association of Texas represents 21,000 state firefighters. The Association says more than 80 percent of volunteer firefighters are reporting taking a personal hit in the budget crisis. They have started using their own money to help pay for equipment and supplies.

“We’ve seen budget cuts, but this is the worst time that we’ve ever seen,” said Executive Director Chris Barron. “As far as the budget crisis and the fuel cost stuff for example continues to go up and it doesn’t help us out any whatsoever, so with the rising fuel and the budget cuts from the state it’s taken a great effect. I think the citizens and the public is going to see that.”

Most of the State of Texas is protected by volunteer departments. There are 879 volunteer departments compared to 114 paid departments and 187 departments that are a combination of both paid and volunteer firefighters.

Now that Rick Perry is a leading Republican presidential candidate, the issue is being politicized:

While Texas Burn (sic), Perry Slashed Firefighter Funds by 75%

The fire rag­ing through Texas is not a sur­prise, it is some­thing every­one expected, in fact, it hap­pens often. Yet, with that in mind, Rick Perry, the Repub­li­can can­di­date for Pres­i­dent in 2012, mas­sively cut fund­ing to the only agency whose job is to fight these fires.

Vol­un­teer depart­ments that were already fac­ing finan­cial strain were slated to have their fund­ing cut from $30 mil­lion to $7 mil­lion, accord­ing to KVUE.

The major­ity of Texas is pro­tected by vol­un­teer fire depart­ments. There are 879 vol­un­teer fire depart­ments in Texas and only 114 paid fire depart­ments. Another 187 depart­ments are a com­bi­na­tion of vol­un­teer and paid.

The rag­ing inferno presently cov­ers over 25,000 acres near Bas­trop and has already destroyed nearly 500 homes. At a time like this all hands should have been on deck, but thanks to Perry’s deci­sion mak­ing, the burn­ing continues.

This deci­sion by Rick Perry gives a whole new mean­ing to the term, ‘slash and burn.’

Naturally the story’s author, Ezra Grant, provides no evidence that Perry himself personally decided the amount of funds to be set aside for volunteer firefighters, as he implies in his title.  Perhaps he would be stunned to learn that while the Governor signs the state budget, the Texas Legislature actually authors it, and Gov. Perry doesn’t ride around in a big white Cadillac with a longhorn hood ornament randomly deciding who he is going to starve or kill by taking away all their money.  Unlike the Federal government, the Texas Legislature can’t print its own money.  Just like every other state, they were faced with a significant revenue shortfall this past session and had to make deep funding cuts throughout their budget.

And speaking of budgets, you’ll note that Gov. Perry actually signed one, something that our own President has failed to do for the last two Federal fiscal years.

As of now, it seems pretty clear that liberals will be trying to tar and feather Perry based on his record as Texas governor, while deliberately ignoring Barack Obama’s dismal failure of a record as President of the United States.  Fortunately blogs and YouTube will make that task very difficult for them.

Shortlink:

Posted by on September 8, 2011.
Filed under 2012 Presidential Race, Rick Perry.
Tagged with: .


You can leave a response or trackback to this entry
  • Anonymous

    Did anyone here watch some of the debate and Perry’s bareback performance last night ? Good question? Are you guys in some sort of time zone? Rick Perry is not just  a leading candidate he is clearly the frontrunner now, and seems to relish giving provocation.  And  it is not only liberals.. but  Romney took a pretty good whack, at trying to “tar and feather” Perry’s record as “a miracle maker” as governor, and vice versa.

    • Jeff Blogworthy

      I’ll pit Perry’s bareback performance against Obama’s Brokeback performance any day.

      • Anonymous

        That’s a three-pointer, Jeff, no net!.

    • Anonymous

      Quoting Balloon Juice? That hate filled site where they see racism in everything conservative?

      That explains a lot.

      • Anonymous

        Cut him a break.  At least he is actually citing something rather than pulling claims from his posterior.  Progress!

    • Anonymous

      Didn’t you claim to not know there was a debate a few hours ago?

  • Jeff Blogworthy

    Nearly half of the federal government’s firefighting air tankers are
    siting idle at a California airport, grounded by the Obama
    administration in a contract dispute just weeks before wildfires swept
    through Texas killing a mother and her child, and destroying 100,000
    acres.”

    Just sayin’.

  • herddog505

    Michael Laprarie[L]iberals will be trying to tar and feather Perry based on his record as Texas governor, while deliberately ignoring Barack Obama’s dismal failure of a record as President of the United States.

    Natch, because Bad Luck Barry has been such a dismal failure.  And I suggest that attacking Perry’s record is a course fraught with hazard, because (A) I don’t think Perry’s record is all that bad, and; (B) do the dems really want to showcase the fact that Perry actually LEADS while their guy confines himself to making petulant speeches, playing golf, and going on vacation?

    • jim_m

      Yeah, but look what they are complaining about:  cuts in government spending. Anyone who refuses to acknowledge the need for spending cuts isn’t going to vote for anyone but obama anyway. 

      The dems will focus on the spending Perry hasn’t done. The public is interested in the jobs he helped create by reducing regulation, curbing the trial lawyers, etc.  So Texas is cutting a program that was not giving money to where it was needed?  Sounds like the right thing to do.  I suppose the dems are saying that the answer was to spend MORE money.  Sometimes the answer isn’t a government program.  Sometimes the answer is to do something else other than the thing you re doing that isn’t working.  Someday the dems will learn that lesson but I’m not going to hold my breath.

      • herddog505

        jim_m So Texas is cutting a program that was not giving money to where it was needed?  Sounds like the right thing to do.  I suppose the dems are saying that the answer was to spend MORE money.

        Exactly: the dems have become wedded – nay, SLAVES – to the ideas that all government spending is good, and that any cuts (defined as a decrease in the rate of increase) are bad.  It’s absurd, really.  Consider the idiots’ position that unemployment checks stimulate the economy; these people can’t grasp that government is NOT the answer to every question, and indeed is usually the problem to begin with.

  • Anonymous

    I’m surprised the left hasn’t claimed that Perry started the fires.

    As to the cuts, wtaq.com reports:


    The Texas Forest Service faces almost $34 million in budget cuts over the
    next two years, roughly a third of the agency’s total budget. The cuts are in
    both the House and Senate versions of the proposed state budget.”

    “The Forest Service has about 200 firefighters and offers assistance grants to
    volunteer fire departments”

    “A state commission that reviewed the Forest Service this year noted the grants
    were not distributed to the counties most at risk for wildfires.”

    • Anonymous

      ‘m surprised the left hasn’t claimed that Perry started the fires.

      But it was always burning since the world’s been turning!!

  • Anonymous

    The MSM will be sure to pillory any candidate that challenges The One.  Of course, Barry will get the obligatory “pass” on accomplishing anything.

    Not surprisingly, the Tea Party gets blamed for all of Barry’s problems.  You know, the group that less than 2 years ago was derided as “fringe”, “Racists!”, “Nothing movement”.  Now the left does nothing but obsess about them.  Not bad for a “nothing”.

  • Bob Armstrong

    Perry’s handling of the Texas wildfires is worthy of scrutiny. The parallels between that event and Bush’s Katrina are just too rich a target opportunity to pass by.

    Given the slack the right has shown Obama (Less than or equal to zero) it’s going to be fun picking apart the rights Teh Heroes and listen to teh right whine about how unfair it is.

    • jim_m

      I agree with you Bob.  It does demand investigation.  With 2.2 million acres burnt obama refused the request for a federal disaster declaration.  However, obama had no problem immediately signing disaster declarations after Irene for North Carolina, New Jersey and New York.  Coincidentally those states went for obama in the last election and Texas did not.

      Any other President would have made a declaration.  obama with his petty partisanship would not.  Any investigation of those wildfires will inevitably draw scrutiny for obama’s decision.  If the fires were that serious why would obama not declare a disaster?  If it wasn’t a disaster then why should we be worrying about it?

      The topic is yet another loser for obama.  But I agree with you Bob. Let’s investigate!

      • Bob Armstrong

        Perry’s loud-mouthed offer to have Texas secede from the union — and then seeing him crawl back to washington begging for money — was just too good an opportunity for Obama to pass up. I salute him for it.

        Teach these fracking repubican hypocrites a few lessons.

        • jim_m

          So what you are saying is that obama didn’t give the disaster declaration as a petty payback for what was perceived as Perry shooting his mouth off? So you are not only admitting that you think this was he reason but that you think it is a justifiable reason and one that you applaud.  I think you will find that most people see leadership as doing what is necessary for the American people regardless of your personal ego.

          It’s disgusting that you take such pleasure in the suffering of others just to fulfill your own desires for revenge.

          • Bob Armstrong

            Obama granted the disaster declaration – you know that right, you’re just lying as usual?

            He just made the asshat beg for it first before granting it.

            Like I said, when you get a Republican hypocrite like Perry swinging in the wind it’s just too much fun to slap him around a little before cutting him down.

          • Bob Armstrong

            That doesn’t make you cry, does it? Perry’s a grown man, and he should be smart enough to recognize the consequences of his loud mouth bullshit about seceding from the union sooner or later.

            He got his federal money – along with a bitch slapping for being a hypocrite.

          • Bob Armstrong

            http://www.youtube.com/watch?v=DzbdugWJbNo

            Yep – BillyBobJo Perry thinking it’s just fine if Texas secedes…. and what followed afterwards was cheers of “Secede! Secede!” fomr the Texas Tea Baggers assembled.

            Frack em.

          • Anonymous

            Poorly edited u-tub vid, c’mon u can do better than that.  May link to something RussiaFPS has posted or something.

          • retired.military

            Bob

            Again   Perry never condoned nor stated he would have anything to do wtih seceding from the union.    Your talking points are inccorect.

          • jim_m

            He may have eventually granted it but it was initially declined. http://www.digitaljournal.com/article/306328

            Not a lie, just your ongoing inability to use an internet search to inform yourself you ignorant ass.

            And again you prove my point that it isn’t about serving America for the left it is about advancing their partisan agenda and punishing their opponents.

          • Bob Armstrong

            I knew it was granted – how else would I know you were lying by saying he didn’t get it?

            Of course he got it – he just had to beg like a whipped dog. Impressive…

             

          • jim_m

            You are such a scumbag. I said obama refused to declare the disaster and you knew it was true. Still you called me a liar. I show proof that it was denied and you admit it and call me a liar again even though I just proved I was right. Then you gloat about innocents being hurt.

          • Bob Armstrong

            You intentionally left the impression that Texas hadn’t gotten it – when in fact that was bullshit.

            So I let you play your hand and then I played mine.

            Obama’s staling had zero impact on Texas lives.

            Perry’s bungling of the wildfires (300 days! Are you f&cking kidding me!!!) on other than has caused huge property losses and lost lives.

            Now you’re whining cause I won at catching you in a lie. Pooor baby…

            Quick, Jim – better put up another lie!

          • retired.military

            Your link doesnt back up your claim ref Perry and Texas.

          • Anonymous

            So Texas asks for help in May, but Obama makes them beg until July?
            And you think this is admirable behavior?
            And you criticize Bush for waiting for LA and NO to ask for help, as per the rules?

            Even by your low standards, this is pretty petty, Bobby Sox.

          • jim_m

            Nah.  Bob’s into punishing his political opponents and making them suffer for their transgressions.  Who knows?  He might actually stop short of supporting stuff like this: http://en.wikipedia.org/wiki/Lidice

            Maybe.

          • Bob Armstrong

            Sorry – but the words “F&ck Texas” roll just a little too easily off my tongue.

          • Anonymous

            I am sure the thought of all of those cowboys in spurs, chaps and tight jeans lubricates your tongue quite well, allowing many things to roll off it.  In and out.

            Good to know that you dehumanized people based on your perception of their beliefs.  You’d have done well in Stalin’s Russia.

          • Anonymous

            “Like I said, when you get a Republican hypocrite like Perry swinging in the wind it’s just too much fun to slap him around a little before cutting him down”

            Are you now advocating ‘lynching’ oh spongy lubed one? 

        • Anonymous

          “Perry’s loud-mouthed offer to have Texas secede from the union…”

          Both factcheck.org (http://www.factcheck.org/2011/08/what-perry-really-said-about-secession/)
          and Politifact.com (http://www.politifact.com/truth-o-meter/article/2011/aug/18/truth-about-gov-rick-perry-and-secession/) claim that  Perry Never advocated Secession.

          • Anonymous

            never let facts interfere with sock narratives

          • Bob Armstrong

            nice links – want to try again?

            Go ahead everybody -click on his “proof”

          • Anonymous

            Sorry that you cannot handle deleting a stray character.

          • Anonymous

            Looks like the links got truncated.
            Try this. Enter perry secession into google.
            1st page, 4th entry. Direct link to the factcheck.org article.
            2nd page, 2nd entry. Direct link to Politfact article.

            Check em out Bob.

          • Anonymous

            http://www.politifact.com/truth-o-meter/article/2011/aug/18/truth-about-gov-rick-perry-and-secession/

            In case my link, like Hanks goes to the polifact main page, search “secession” on the polifact site.

          • http://www.rustedsky.net Anonymous

             From Factcheck: ”

            Some Perry critics have also pointed to another statement from Perry,
            this time to a group of tech bloggers taking a tour of his Capitol
            offices the month before the tea party interview. At one point,
            according to audio posted on YouTube,
            Perry tells the group, “When we came into the nation in 1845, we were a
            republic. We were a stand-alone nation. And one of the deals was, we
            can leave any time we want. … So we’re kind of thinking about that
            again.”

            The line was met with laughter, suggesting it was not meant as a serious position statement.

            “You do that and I’ll move in!” someone is heard to joke back, to more laughter.

            Some may question the prudence of Perry entertaining the suggestion
            of secession, or talking too loosely about such a radical idea, but any
            fair-minded reading of Perry’s fuller quote, and its context, makes
            clear that Perry was not advocating for Texas to secede. And Perry has
            repeatedly said since then that he did not, and does not, advocate
            secession.

            http://www.factcheck.org/2011/08/what-perry-really-said-about-secession/

            From Polifact:

            It didn’t take long after Texas Gov. Rick Perry announced that he was
            running for president for Democrats to rekindle a favorite talking
            point: Perry, they say, wanted Texas to secede from the union.

            But what did the Republican governor really say? Our colleagues at
            PolitiFact Texas first explored that question during the 2010 campaign.

            Houston Mayor Bill White, the Democratic nominee who ran against Perry, said his opponent “threatens to secede.” We rated that False.

            Perry, in explaining his remarks, claimed that he said there was “absolutely no reason to secede.” That earned a Mostly True.

            This week, White House Press Secretary Jay Carney said Perry “wanted to secede from the union.” We rated that False.

            http://www.politifact.com/truth-o-meter/article/2011/aug/18/truth-about-gov-rick-perry-and-secession/

            It’s funny what happens when you actually explore a subject, rather than taking ‘conventional wisdom’ for granted…

          • Anonymous

            Thanks JLawson. I should have copied/pasted the info myself.

            I appreciate it.

          • Bob Armstrong

          • Bob Armstrong

            Yep. Fox News agrees with Perry that Texas should secede!

            “Perry… right into the lunatic fringe”

            Hannity defends Perry in his talk of seceding.

          • retired.military

            Perry never stated that Texas should secede.

            He stated if things kept going the way they were than Texas may secede.  he didnt say he endorsed it or wanted it.   Your stating he does is akin to my saying Obama endorses starving little kids because he says that some legislation may cause little kids to starve.

          • Anonymous

            I fail to see the problem here, is there some reason Texas shouldn’t consider it given the way the federal government is acting?

          • http://pulse.yahoo.com/_425GVKQCLFZMQYYENR7CJBRDVA jb

            No problem at all, if someone has a problem with the UNITED States.

            It’s the “United” part, you see. Since America is a union of states, advocating that states leave it is literally anti-American. Just saying.

        • Anonymous

          So for the record, you support refusing federal aid that would normally be granted as a matter of course for millions of ordinary citizens to make a political opponent “crawl back to washington” as a salute worthy political tactic?

          How very feudalistic of you.

          • Bob Armstrong

            Here – let me say it again- Perry rallied his bubbas by claiming that Texas was considering seceding from the union.

            F&ck Texas.

          • http://www.rustedsky.net Anonymous

            Liar.

            From Polifact:

            It didn’t take long after Texas Gov. Rick Perry announced that he was
            running for president for Democrats to rekindle a favorite talking
            point: Perry, they say, wanted Texas to secede from the union.

            But what did the Republican governor really say? Our colleagues at
            PolitiFact Texas first explored that question during the 2010 campaign.

            Houston Mayor Bill White, the Democratic nominee who ran against Perry, said his opponent “threatens to secede.” We rated that False.

            Perry, in explaining his remarks, claimed that he said there was “absolutely no reason to secede.” That earned a Mostly True.

            This week, White House Press Secretary Jay Carney said Perry “wanted to secede from the union.” We rated that False.

            http://www.politifact.com/truth-o-meter/article/2011/aug/18/truth-about-gov-rick-perry-and-secession/

            Got kind of a problem with stuck memes, don’t ya? Ever consider some WD-40 and a large prybar?

          • Anonymous

            Question to ponder:  Is spongebob actually a person?  I am not convinced that “he” would pass the Turing test.

          • Bob Armstrong
        • retired.military

          Bob

          Perry never offered to have anything to do with, or condoned Texas seceding from the union.   Please check your statements for those inconvenient things called facts.  Give a link to the quote where Perry condoned or offered to have anything to do with Texas  seceding from the union.

    • Jeff Blogworthy

      “…too rich a target opportunity to pass by.”

      That’s how the left looks at disasters. Rich opportunities. Thanks for admitting it.

      • Bob Armstrong

        You’re saying Rick Perry is a disaster? I know that to be true, but I really want Perry on the GOP ticket precisely because of that.

        • Jeff Blogworthy

          Wow. Great retort. Did you come up with that all by yourself?

          • Bob Armstrong

            great retort – Did your twelve year old nephew come up with that? 

          • Anonymous

            Another great Nanny Nanny Noo Noo moment.

          • Anonymous

            You can always count on Bobby Sox to elevate the quality of debate

          • Bob Armstrong

            Waaa – he started it!

            Just playing your games. If you clowns want to fill the comment section with drivel, I’m game. Doesn’t bother me a bit.

          • Anonymous

            I think your diaper needs changing.

          • Bob Armstrong

            lol – what a putz..

          • Anonymous

            Hmm. Your diaper is dirty and you are crying, and you think I’m a penis.  Freud would have had a field day with that.

        • Anonymous

          Ha Ha.  Like we are not talking about the fires in Texas like someone posted at 7:27.  Hey, that was you, ob!  Forget your Namenda this AM?

        • retired.military

          Without Hillary on Obama’s ticket the GOP could run daffy duck and they would win.

          • Bob Armstrong

            I though you didn’t want Michele Bachmann on the ticket? Now you’re talking about her winning….

    • jim_m

      Given the slack the right has shown Obama (Less than or equal to zero)
      it’s going to be fun picking apart the rights Teh Heroes and listen to
      teh right whine about how unfair it is.

      Look who’s whining!  No slack comes with the job, Bob.  The left didn’t give Bush any slack.  The left didn’t give Reagan any slack.  Grow up.  The Presidency is the toughest job in America (if not the world) and one of the reasons is that you don’t get a lot of slack for making mistakes.  Heck, you don’t get a lot of slack for doing the right thing either.

      If Barry can’t take the heat then he should have stuck to community organizing.

      • Bob Armstrong

        Sorry if my comment sounded like whining. And we’ll see how well Perry stands up to Tea Party style abuse.

        He’s going to raked over the coals. Hope he has asbestos underwear.

        • Anonymous

          You mean how  he will be greeted respectfully by a crowd that will listen to what he has to say and will clean up after themselves, or do you mean how the left treats the tea party or anyone else that they disagree with?

          • Anonymous

            Nah, I think it was thinking about the level of abuse that is heaped upon the Tea Party by leftist and the MSM (sorry bout the redundancy).

        • https://plus.google.com/114041580398058374552/posts McGehee

          He eats Texas chili. Asbestos isn’t strong enough.

        • Anonymous

          “Sorry if my comment sounded like whining. And we’ll see how well Perry stands up to Tea Party style abuse.”

          If you mean how well he answers a question about the corruption in DC instead of golfing his life away, I’m sure he’ll do fine.

      • Bob Armstrong

        Sorry if my comment sounded like whining. And we’ll see how well Perry stands up to Tea Party style abuse.

        He’s going to raked over the coals. Hope he has asbestos underwear.

    • Anonymous

      How about Obama’s handling of Nashville?

      • herddog505

        Or the ice storms in Kentucky.

        • Anonymous

          Or his Katrina in the golf… er ..uhh gulf.

    • Anonymous

      Parallels, lets see, like they are both South of the Mason Dixon and East of the Rockies,   yeah, got that.  Wind, yeah, there is a lot of wind in both disasters.  Hot air, too.

      After that, I fail to see any parallels, other than the parallel universe your brain seems to exist in.

      • Anonymous

        Wait a minute, I thought of one more.  Has to do with that “never let a good disaster go to waste” comment.  Now where did I hear that?

    • Anonymous

      I agree Bob, the parellels are striking.  When faced with a natural distaster two politicians with an R designation will be blamed for anything that goes wrong and given no credit for anything that goes right by the MSM.

  • Anonymous

    Barry slashes funding for generations In utero. Is that a problem with racepants? Not so much!

    • Bob Armstrong

      If that made sense I might reply, but frankly, 914, your comments rarely make sense and therefore I usually just ignore them.

      • Anonymous

        Thanks for the non reply reply…

        • Bob Armstrong

          Your welcome – It’s all you’re getting form me, asshat.

          • Anonymous

            “it’s all you’re getting form me, asshat.”

            The edit button is your friend.  Don’t burn your bridges, you may need someone like me someday soon.

  • Anonymous

    Republican candidates are forged in the fire of tough press and high scrutiny. It hardens them into better candidates. Democratic candidates bathe in the warm kisses of a fawning media. It makes them soft and sloppy. Look at Obama, he is a SCOAMF precisely because the media never really took a hard look at him and instead deified him into the second coming of God. Even Obama started believing his own hype. The truth is that he was never up to the job of President. If the press had treated him one quarter as skeptically as they treat any Republican he wouldn’t be in the White House and the country might have been better off. I’ve never been a Hillary fan, but she would have been 1000 times better than Obama.

  • Anonymous

    I wonder which will be the bigger story–the funding of Texas fire departments or the ongoing revelations of the Solyndra scam.

    • Bob Armstrong

      You mean the bankruptcy where their assets are almost equal to their liabilities, meaning the losses will most likely be much smaller than the $500 MILLION DOLLARS that the right wing bullshitters have been lying about?

      Yeah, can’t wait to get back to that one.

      • Anonymous

        I didn’t mention the bankruptcy–I was referring to the fact that Obama arranged for loan guarantees to help his sugar daddy Kaiser with a business which had never made a profit (and was operating in the range of minus $330 million a year, if I understand it right), and that was insolvent two years after the guarantees were made. It’s pure speculation to estimate the value of assets at this point, but I’d be surprised if there were a lot of investors interested in buying the assets of a failed business in a failing industry. Unless, of course, they are friends of Obama and get some free taxpayer money.

        • Bob Armstrong

          Actually, it’s not pure speculation — the estimates from the company are already published.

          • Anonymous

            Estimates = speculation

          • Bob Armstrong

            fair enough…

          • retired.military

            Bob

            Look here

            http://swampland.time.com/2011/09/03/big-name-investors-to-recoup-losses-before-taxpayers-in-obamas-failed-green-tech-bet/

            looks like the taxpayers are going to be on the hook for about $200+ million no matter what.

            By last November, the company was running out of cash; according to a January 2011 government document, it had “a very high probability” of bankruptcy and liquidation. This was a big problem, not only because the company had drawn down $460 million of its loan, but because its new factory wasn’t even completed, which meant liquidation would be a fire sale. The administration estimated that Solyndra’s assets would fetch less than $100 million, for a total loss of over $360 million.
            The other option was restructuring. Kaiser’s Argonaut Ventures and the Walton family’s Madrone Partners would put up an additional $75 million, which would take the first position in case of a liquidation; the government would still be paid first if the company managed to emerge from bankruptcy. Meanwhile, the Department of Energy brought in independent consultants to analyze the company’s technical, financial and market assumptions, and ultimately concluded it did have a potentially viable business. The new factory was on time and on budget. Sales were increasing steadily. And even if Solyndra failed, it would be much more valuable with a completed high-tech plant than with an empty box in Fremont, California.
            “We were already in deep,” one official recalls. “We looked at every relevant scenario to maximize the recovery for the taxpayer. We did due diligence as if this were a brand new transaction…The takeaway is, at every juncture we did whatever we could to ensure the best possible outcome for the taxpayer. I think we structured a pretty impressive deal.”
            In other words: The operation was successful, but the patient died. Politically, it’s probably an impossible case to make. But that doesn’t mean it’s wrong.
            The government estimated that if the company still went bankrupt but emerged as a going concern, it would still be worth $240 million to $480 million, so the loss to taxpayers would be much lower. And the new management team-led by a former Intel executive-made a persuasive case that it could turn things around with a new sales strategy and a more efficient factory. And it did. Until it didn’t.
            “The restructuring gave Solyndra a fighting chance for success,” that same official says. “But then everything fell off a cliff.”
            In the summer of 2011, solar panel prices plummeted again. The investors had been poised to inject another $75 million, but this time, they decided not to throw good money after bad. Solyndra shut down and laid off its 1,100 employees. It certainly doesn’t look like it’s ever going to be a going concern again, although bankruptcies can surprise. Thanks to the restructuring, the company’s intellectual property is now part of its collateral.
            Solyndra drew down $527 million of its loan before shutting its doors, so the government would have to get back about $160 million from the bankruptcy just to match what it thought it could have gotten if Solyndra had collapsed in January. And the first $75 million goes to Argonaut and Madrone. So unless the company’s assets are worth $235 million, the administration is going to have even more explaining to do.

          • Bob Armstrong

            Sorry, bubba. Youll have to quote someone other than “swampland” before I take anything you say seriously.

      • Anonymous

        No he means the corrupt bs green company that was just raided by the FBI and the Dept of Energy A-Hole.