Thursday, November 4, 2010

Fremont solar panel maker Solyndra scales back expansion plans

http://www.insidebayarea.com/ci_16517629?IADID


Lord, lord, not only future job loss but also present.
And another 535 million pissed down the toilet, but hey at least an Intel CEO got to show off his talent.

Solyndra Inc., the high-flying solar panel maker once touted by President Barack Obama as a model for a green energy future, said Wednesday it has scuttled its factory expansion in Fremont, a move that will stop the company's plans to hire 1,000 workers.

Solyndra said it will also close an existing factory in the East Bay. That will leave the company with one Fremont factory, a new plant visible from Interstate 880.

The company's problems raise questions about the federal government's wisdom in giving $535 million to a company with an unproven technology," Mehta said.