In which we learn (thanks, LC angrywebmaster) of how the SCOAMF administration pressured (while dangling some taxpayer funds in front of their noses) Solyndra execs to hold off announcing their imminent massive layoffs until at least a bit after the 2010 midterms.
Solyndra’s chief executive warned the Energy Department on Oct. 25, 2010, that he intended to announce worker layoffs Oct. 28. He said he was spurred by numerous calls from reporters and potential investors about rumors the firm was in financial trouble and was planning to lay off workers and close one of its two plants.
But in an Oct. 30, 2010, e-mail, advisers to Solyndra’s primary investor, Argonaut Equity, explain that the Energy Department had strongly urged the company to put off the layoff announcement until Nov. 3. The midterm elections were held Nov. 2, and led to Republicans taking control of the U.S. House of Representatives.
“DOE continues to be cooperative and have indicated that they will fund the November draw on our loan (app. $40 million) but have not committed to December yet,” a Solyndra investor adviser wrote Oct. 30. “They did push very hard for us to hold our announcement of the consolidation to employees and vendors to Nov. 3rd – oddly they didn’t give a reason for that date.”
It’s a complete mystery, isn’t it? We’re utterly, completely, truly baffled here!
Oh, and nicely played with the “here’s $40 million more to start, but we’re not sure about the next donation just yet. Oh, and by the way, we’d be really appreciative if you’d hold off that announcement for a bit. No, the two things have nothing to do with each other, not at all! Honest!”
Nope, Jonathan Alter, no scandals at all in the SCOAMF administration.