It’s hilarious watching President Obama disparage Mitt Romney’s private equity record when Barack himself has such an embarrassing record with the so-called “investment” of public (taxpayer) money into the business world.
He’s lost Billions of our money and caused “massive” unemployment every where he has ventured.
Raser Technologies lost $33 million of our money and besides having to lay off everyone after bankruptcy, they owe $1.5 million in back taxes.
ECOtality was given $126 million by Obama after the company president sat in Obama’s State of the Union address as a “success” story. So far they’ve lost $45 million.
Nevada Geothermal Power was given $98 million by Obama and in a recent filing the company stated that there is significant doubt about their ability to continue operations due to declining cash reserves. Massive layoffs are underway.
First Solar was provided $3 Billion in loan guarantees and just fired 30% of it’s workforce after recording $401 Million in “restructuring” costs.
Abound Solar was provided $400 Million in loan guarantees and the company recently halted operations and laid off 180 employees.
Beacon Power was provided a $43 Million loan guarantee by Obama and the company has been delisted by the NASDAQ after filing for bankruptcy. Very few employees are left standing.
It gets even worse from there.
Sun Power received a $1.2 Billion loan guarantee and after a string of losses and employee layoffs the company is worth less than it owes.
Then there is the infamous Solyndra deal where the company received $535 Million from Obama and they immediately laid off hundreds of employees and declared bankruptcy.
Worse yet is watching President Obama bash venture capital organizations in a speech at a college and then going across the street to a fund raiser sponsored by venture capital companies….