Another Obama example of how to flush tax dollars down the "green" tunnel. America debt grows as Obama grows the bank accounts of his political buddies.
Solar panel company Amonix says competition, high costs forced closure - Business - ReviewJournal.com:
"BY HUBBLE SMITH
LAS VEGAS REVIEW-JOURNAL
Posted: Jul. 20, 2012 | 2:16 a.m.
Updated: Jul. 20, 2012 | 9:46 a.m.
Solar panel manufacturer Amonix might have been in financial trouble before the company's chief executive officer was killed in a December plane crash and 70 percent of the work force at its North Las Vegas plant was laid off a month later.
The 214,000-square-foot plant, subsidized by more than $20 million in federal tax credits and grants, ceased operations in May, shipping most of the equipment back to its California headquarters and leaving about 300 people without a job.
An April balance sheet for the Seal Beach, Calif.-based manufacturer of concentrated photovoltaic solar panels, obtained this week by the Review-Journal from one of the company's unsecured creditors, shows liabilities of $93.5 million and assets of $72.2 million."
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