By William R. Mann ——Bio and Archives--July 20, 2012
American Politics, News | CFP Comments | Reader Friendly | Subscribe | Email Us
In light of the Solyndra bankruptcy, terms like “economic stimulus package” and “green jobs” now appear to be Team Obama code words for “kickbacks to political supporters so huge they would make a third-world despot green with envy.” Solyndra is (or, more accurately, was) a California solar energy company that was the crown jewel of Obama’s first economic stimulus package, which cost $787 billion. Solyndra’s chief investor, George Kaiser, was also a bundler for Obama’s 2008 campaign, gathering over $50,000 in campaign contributions. Kaiser, together with Solyndra executives and board members, donated $87,050 to Obama’s campaign. As part of the economic stimulus, Obama’s Department of Energy (DOE) fast-tracked a loan of $535 million (at the lowest interest rate granted by the DOE program) to Solyndra in 2009 to create green jobs. All other energy companies that received loans are paying an interest rate three to four times higher, and Solyndra got this amazing deal despite a Dun & Bradstreet credit rating that was only “fair.” About a year later, Solyndra wasn’t making the payments and needed refinancing. In 2011, Solyndra’s CEO communicated with members of Congress, claiming that the company was on sound financial footing and would be able to repay a refinanced loan. DOE had a man attending Solyndra’s meetings, so they should have known whether the CEO was telling the truth. DOE arranged for refinancing. Just a few months later, Solyndra laid off nearly all of its 1,100 workers and declared bankruptcy. Just a few days after that, agents of the FBI and the inspector general were raiding Solyndra headquarters and the homes of the CEO and two other executives, with search warrants. That means that criminal charges are possible. But in the bankruptcy, DOE allowed Kaiser and other investors to recover their investments first, before DOE attempted to recover the $535 million in taxpayers’ money. What a sweetheart deal. America’s taxpayers have been left holding the bag.So, what is the future of American Business under a second Obama Regime? And yes, it is a Regime. I do not use the word "Regime" lightly. One can hardly refer to Mr. Obama's stewardship of the United States as an "Administration." The man does not propose anything for the Congress to dispose unless he has a rubber-stamp super-majority Congress. A Business Executive with a record like Mr. Obama's stewardship would be recognized quickly as a lazy, unqualified lout ... and fired forthwith. But instead, Mr. Obama increasingly uses Presidential Directives and Executive orders in a way that would make any dictator proud. A review of his Orders and Directives shows an imperial aggregation of authority and power within the Executive branch is breathtaking. His bold attempt to intimidate of the Supreme Court Justices during a State of the Union Address quite possibly influenced the Chief Justice in the Obamacare decision. Even a smaller thing like placing a Mao Tse Tung ornament on the White House Christmas Tree ["Solstice Holiday Tree?"] is a tip off. The future of American business under a Second Obama Regime will be even more interference in the business boardrooms; the small business offices, and small workshops across America. He will continue to force ideological choices over the practical, producible, and profitable. Using Energy as an obvious example, he will continue to force more taxpayer funds into unprofitable Solar, Wind, Waves and even Algae Energy ... even as they are proving time and time again that these energy sources are not yet winning strategies. All the while he is destroying tens of thousands of jobs in the coal, oil, and natural gas industries for purely ideological reasons. This is reminiscent of the Four and Five Year Plans of Socialist countries that never achieve any measurable standard of success, redistribute further misery, and eventually fail. My father put his whole life into his business as a commercial artist. He receive many awards from peer reviews for the innovative quality of his work. He was a Graduate of the University of Toledo Fine Arts curriculum. He worked his way through college. He met my Mom and there and they were married after his Graduation. Dad registered at war's outbreak and was drafted in 1942. He turned down OCS and served the India-Burma Theater in World War II as a Teletype Repairman. He returned to Toledo at war's end and worked briefly for fellow commercial artist, [also a war veteran], until he had saved enough to find his own home-shop combination outside of the Toledo City Limits and nearer to Maumee, Ohio. He did this so as to take advantage of tax advantages and because of fewer Zoning restrictions for a home business combination. My Father continuously ran his own business from the mid-1950s until the mid 1990s. He moved to Northwest Montana to retire in 1976, but was back in business within months. His work was clearly in his blood. He worked hard until he had the heart attack that laid him low eleven days later in June 1995. I had retired from my Army career in 1993 and had moved to Montana to be close to Family. I would offer him free labor whenever I thought he needed it, or whenever my Mom would give me a secret phone call. He never asked for help. Furthermore: He never stole my labor! Mr. Obama are you listening? My Father was a true Entrepreneur. In the earlier days there was no EPA, no OSHA, no Labor Department interference with businesses. Had there been so, I doubt he would have survived early on as an independent businessman. We did however live in a Forced Unionism State [no Right-to-Work law] and I recall the occasional Union guy showing up and harassing Dad during those few times when he hired extra help. Dad was unable to pay workers at Union wages. He paid what he could afford, and those who needed work were happy to receive what he could pay. [NOTE: Anyone interested can research Toledo history and see how Forced Unionism and Democrat rule since the 1960s has depressed that economy. Toledo is much like neighboring Detroit, a broken city and an economic basket case that still, incredibly, votes themselves more ruin by electing Progressive Democrats. I believe that my Father [and Mother] would have been livid with outrage had they heard President Obama's charge that business owners did not build there businesses on their own. My Father wrote and signed checks on the front side. The only ones he ever endorsed were from customers for products and services rendered. My Dad:
View Comments
William R. Mann, is a retired Lt. Colonel, US Army. He is a now a political observer, analyst, activist and writer for Conservative causes. He was educated at West Point [Bachelor of Science, 1971 ]and the Naval Postgraduate School [Masters, National Security Affairs, 1982].