Biden repeatedly praised green energy company as his energy secretary held stock in it
10% to the big guy for the investments increase when he praised it.
didnt this happen with Solyndra in another ADMIN
President Joe Biden promoted the company. Its top executive landed a spot on a White House board. And Energy Secretary Jennifer Granholm held hundreds of thousands of shares in it.
But that wasn’t enough to save Proterra—the electric vehicle maker whose buses routinely failed to stay on the road—from declaring bankruptcy. Proterra cited “various market and macroeconomic headwinds” in a Chapter 11 filing on Monday, which came after the California-based firm cut hundreds of jobs earlier this year and restructured hundreds of millions of dollars in outstanding debt.
The declaration marks a stunning downfall for Biden’s favorite green energy company. Biden took part in a virtual tour of a Proterra facility in April 2021 to promote his $1.9 trillion infrastructure plan, which included billions to boost the electric bus industry. Biden said during the event that Proterra was “getting us in the game” and predicted that Proterra and other electric vehicle companies would “end up owning the future.” He went on to praise Proterra in a March 2022 speech, and less than one year later, in February, the Democrat appointed Proterra CEO Gareth Joyce to serve on the President’s Export Council, which provides advice on international trade. Energy Secretary Jennifer Granholm, meanwhile, held 240,000 shares in the company at the start of her tenure, prompting ethics concerns.
While Proterra shares tumbled more than 60 percent in after-hours trading Monday, Granholm will not have to worry about losing her investment. Granholm, who served on Proterra’s board of directors, sold the shares for $1.6 million in May 2021, weeks after Biden publicly touted the company. Granholm’s shares would be valued at just $340,000 based on Proterra’s current share price.
get rich quick grift, how many HEdge funds and politicians and people in the know made serious bank foff this and now we are out tons of taxpayer dollars with nothing to show for it …. well except the deficit and inflation
summary for those not in the know:
billions of dollars were added to deficit on the guise of bulding these solar companies and funding them and now the big one cant make it financially.
Where did all that money go? politicians and CEO’s and investors that were in the know to make a quick buck pockets thats where
think about the hedgfunds too
SOLYNDRA 2.0 this one under current Solyndra 1.0 under OBAMA
Solyndra Scandal | Full Coverage of Failed Solar Startup
Washington Post
https://www.washingtonpost.com/politics/specialreports/solyndra-scandal/
Since the failure of solar-panel company Solyndra, President Obama’s $80 billion clean-technology program has begun to look like a political liability.
SOLARGATE: 8 Red Flags the Government Totally Ignored ...
Business Insider
https://www.businessinsider.com/government-totally-ignored-the-inevitable-solyndra-disaster-2011-9?op=1
Sep 23, 2011 — The Solyndra bankruptcy and subsequent criminal investigation has … Solyndra executives with Arnold Schwarzenegger and President Obama. AP.
h/t Coastie Patriot