Sunday, September 04, 2011

Obozo's PR Problem With Solyndra Gets Even Worse

I never noticed this little fact:

Taxpayers are likely to end up on the hook for much if not all of that amount, a highly embarrassing development for President Obama because he was among the company's biggest cheerleaders. He visited its Fremont plant in May 2010 even though PricewaterhouseCoopers had weeks earlier raised doubts about its plans for an initial public offering by questioning whether it could continue as a going concern.  LATimes quoted by JustOneMinute

"Going concern" notices are CPA-chat for "zombie company."

The guarantee was awarded in '09, before the PWC warning; but the President's visit AFTER the warning came out demonstrates--clearly--that this White House hasn't a clue about business.

Obama should have been formulating damage-control, not flouncing around in a dying venture.

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