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Another One Bites The Dust

April 13, 2012 by  

Green Company Goes Into The Red. When the Department of Energy agreed to lend Solar Trust of America $2.1 billion, Secretary Steven Chu said the solar project would create “1,000 direct jobs [and] 7,500 indirect jobs.” It turns out the actual number of new jobs will be closer to zero. Last week, Solar Trust declared bankruptcy.

Our Defense Secretary’s Costly Commute. Since becoming the Secretary of Defense in July, Leon Panetta has flown to his home in Northern California 27 times. Although the trips cost $32,000 per roundtrip flight (the military planes required to transport the defense secretary have some of the world’s most sophisticated communications equipment on board), Panetta has to reimburse the government only $630 per trip.

Don’t check your baggage at this airport. CBS News says more than 200 baggage thefts take place every day at New York’s John F. Kennedy International Airport. According to the report, thieves not only grab the most expensive luggage being checked, but they also look at the addresses on the luggage ID so they can target travelers from the most expensive neighborhoods.

Is This The World’s Most Unusual Job? Hermanus, South Africa may be the most idyllic spot on Earth to watch the antics of the Southern right whale during mating season. The village employs the world’s only Whale Crier™, whose sole job is to patrol the scenic cliffs surrounding the bay and blow a loud horn whenever a cavorting couple is spotted offshore.

–Chip Wood


Chip Wood

is the geopolitical editor of He is the founder of Soundview Publications, in Atlanta, where he was also the host of an award-winning radio talk show for many years. He was the publisher of several bestselling books, including Crisis Investing by Doug Casey, None Dare Call It Conspiracy by Gary Allen and Larry Abraham and The War on Gold by Anthony Sutton. Chip is well known on the investment conference circuit where he has served as Master of Ceremonies for FreedomFest, The New Orleans Investment Conference, Sovereign Society, and The Atlanta Investment Conference.

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  • David in MA

    Well, Mr. Secretary Steven Chu, how does the embarrasement of following the wishes of a fool (obozo)feel on the failure of “Green”?

    • eddie47d

      Why should there be embarrassment? Solar works and there are still solar companies out there doing a good job. Companies come and go through the ages and a few do better than others. We all probably have flown places in our life yet should we stop traveling because Pan Am went belly up or numerous other airlines? Few people travel by train anymore yet there are still thousands of miles of train tracks and it’s a booming business for commercial transportation needs. Being Green isn’t a failure and neither is flying.

      • Christin

        Solar energy is good eddie… if only most of us could afford the panels or build them ourselves and reap the FREE energy from the sun to heat and cool our homes and other electrical needs…
        HOWEVER, if a product is that good then it doesn’t Need a BAILOUT from the gov which is IN unsustainable DEBT generations DEEP!

        Besides YOU are talking about Energy needed to fuel Aircraft and that takes fossil fuels… our whole economy is run on oil, gas, and coal with only Some: Ethanol (from food needed to feed people) Nuclear, Water (dams), Wind, and Solar. To move ALL forms of TRANSPORTATION the fossil fuels are required… and America has PLENTY of OIL in the ground, but the Progressive Elites won’t let us drill the resources God has blessed Americans with to be FREE from foreign dependency, high gas prices, and have a prosperous economy… SO STUPID.

      • Vicki

        eddie47d says:

        Solar works and there are still solar companies out there doing a good job. Companies come and go through the ages and a few do better than others.

        And the government is obviously incapable of investing in them. Then again the government’s job is NOT to try and make their cronies successful but they do it anyway. Democrats complain about Bush//Chaney and Oil. Republicans complain about Obama and Green.

        Both silly arguements miss the point. NEITHER industry should be getting special priveleges.

        Oh and we should stop blaming the rich because WE elect spinless politicians who are easilly bribed.

      • eddie47d

        Wakey Wakey Christin! There is plenty of drilling going on in the USA. There is so much there is a backlog of crude. Next time before you post check the facts. Besides what happens after every oil crises we have? People go out and buy gas guzzling SUV and trucks and we end up right back in the same hole.

      • Christin

        Flakey, Flakey, Eddie… must have struck a nerve with you in my post.

        If there is a back log of crude it is only because the gov stupids WON’T ALLOW the oil industry to BUILD more REFINERIES to refine the crude coming out. We haven’t built new Oil Refineries in eons thanks to big gov that wants to run and control all businesses and products.

        And secondly’ Approved Oil permits’ are WAY down:

        G W Bush (and I’m all for this guy either)
        2006 6,738
        2007 7,124
        2008 6,617

        B H obama
        2009 4,487
        2010 4,090
        2011 4,244
        stats from the Bureau of Land Management

        Next time, eddie, YOU wake up dude and check YOUR facts… oh, you didn’t have any just crazed ranting.

      • Christin

        typo correction…
        (And I’m NOT all for this guy either.)

      • Bill

        Oops eddie sorry but there is no way you can lump the two together. As Far as I know the airline company did not receive oodles of dollars like the solar’s did. The RR did receive money and land. I don’t think your comparison is on sound economic reasoning. but who knows I was wrong one other time.

  • cawmun cents

    Now if we can only figure out how to keep this big city,gubment smoke from clouding up our solar powered future mirrors,perhaps we may have stumbled upon a cash cow?

  • jay Lindberg

    Why do you have a problem with green tech? I guess you have never met a nuclear power plant or coal burner you didn’t love.

    • cawmun cents

      No JL….this just serves to remind us that like everyone else Obama hands a check to,it wont work.

      • marine72

        Follow the $2.1B, a substantial portion of it went back-washed into the democrap “Crony” capitalists bundlers. How elsed does anyone think this loser is going to buy the 2nd four years?

  • Senior Citizen

    Gee, doesn’t everyone see a pattern here? Government gives out the big bucks and than the company files within months or goes belly up. Seems this has happened now about four times in a row, by now it should have become quite clear that these are pay-backs not sound investments.

    • Robert Smith

      Do you mean like Chaney hiring Black Water with no bids?


      • cawmun cents

        No,,,more like becoming clear that Obama’s transparency,isnt so clear a transparency as normal transparency.More of a gray-area transparency.Thanks for calling…..try back later,

      • noel


      • Christin

        Love it, Noel… :)

    • eddie47d

      It takes years to get a government approved business loan so maybe that is the problem. Many start up companies need help (private or government) in getting off the ground and the solar companies had good plans. When these companies first came on line China was a nobody in the alternative energy business but within a year they dominated the solar sector. They even make wind turbines and selling them around the world. Their government approved their loans quickly while American companies had to sit and fiddle and then lost out. We could have beat China because we had all the technology so check out who caused the delays and it wasn’t Obama.

    • Christin

      I absolutely agree, Jan.

      Stealing from the backs of hardworking taxpayers (or just racking up more unsustainable debt to sell to China) to pay-off progressive buddies so they can retire multimillionaires and ‘with strings attached’ no doubt do their master’s bidding when called to help further the elites evil plans.

      No company should go bankrupt days after just getting a million or billion dollar injection from big loser gov.

      • eddie47d

        Glad you are on board in what those Wall Street crooks are doing to this country Christin.

      • EyesWideOPEN

        How can anyone go bankrupt within a few months given 2.1 BILLION dollars? Unless it had already been earmarked for other endeavors.. (oops! forgot about solyndra).. We need someone on our side who will trace this (and other) windfall(s) to it’s ultimate destination and demand an explanation if not full restitution.. Doesn’t anyone realize that no matter how much you’re given, after X amount of months you can file for bankruptcy and NEVER have to pay the money back (which means, to make up for the loss, the g’ment must use more tax money to off-set the loss thus raise the deficit).. That this company waited the allotted time to file (probably with that idea in mind) tells me that this was a deliberate scam to get money for nothing.. A sort of wealthy welfare system.. and those who allowed this farce should answer for it in a court of law. Disgraceful leader manipulation that breaks the backs of the very people their sworn to uphold and protect. What a crappy bunch of losers and were it not for the fact that they have unlimited taxpayer money to covet, they indeed would be considered the worst of bottom feeders. Now, not only do those involved get a ‘piece’ of the cut (again!), it degrades and ultimately postpones alternate energy possibly for decades.. (sniff! sniff!) I smell oil in the area, gotta be a connection.

        • David in MA

          Did you vote for this fraud of an undocumented illegal immigrant?

  • ranger hall

    People its WHO got the Money.
    In most cases like this its the PEOPLE who run the Company, Any time the Govt gives out OUR money its to Club members or Friends,Yes Senior, Robert Its a Payback of sorts, Just like a lot of the Grants the Politicians dole out.
    Wonder just who the Owners were.???
    Amazing ONLY 2.1 Billion.

  • ranger hall

    And the thing with the Airport baggage thefts, You would think with all the extra Police and Security that crime would GO DOWN. Ops sorry thats not their Jobs.

  • ranger hall

    People the ONLY lossers seem to be the Taxpayers, Only winners seem to be the Politicians and their Friends.
    But this is nothing new, Been going on for a very long time, WE seem to not care how our Money is Stolen, Legal of course.

  • Ben W.

    I Wonder how much Of That 2.1 Billion will come back as Compaine Funds for Obamo?

  • noel


  • TML

    “Contrary to inaccurate media reports, no taxpayer funds were loaned to Solar Trust of America. The company withdrew from the Department of Energy’s Loan Guarantee Program in August 2011 foregoing any government funding for the Blythe Solar Power Project.” –

    • Bill

      and of course you know that for a fact as you were permitted to have an accountant examine the books. O! well, we will just have to take your word for it. Bull crap, I reserve the right to be skeptical of anything I see, hear, or read.

  • Northern Patriot

    As the old saying goes….”follow the money”. Not too many in gov’t are stupid enough to accept doling out $2 Billion loans without a minimum due diligence showing the borrower for what it is. These were prima facie basket-cases to begin with and only gave the Pres talking points in the cycle he needed them.

    NONE in the media have raised the obvious question:
    “who in tho loop has made off with hunderds of milions of dolars (the loop includes the administration)?

  • tim

    obamas money laundering scheme is working

  • jopa

    Someone made a comment above to build more refineries.The oil industry is closing refineries due to lack of demand.The big Sunoco refinery in Philadelphia is closed and another in Jersey.Much of the refined fuel is being shipped back overseas out of Houston.Time to wakey wakey.I like that.

  • Christin


    Looks like you need to look at the ‘Flakey, Flakey, eddie’ post above that shows The land Management stats for the loss of 2,373 Oil Drill Permits from 2008 to 2011 and figure out with LESS Oil Drilling and Gas Prices “that will necessarily sky rocket” may unfortunately result in lower Refinery needs… if your progressive comments are even true.

    IF Houston is sending out their crude to be refined elsewhere their is definitely a problem… perhaps the refineries are too old or they have so much they can’t refine it all and might be sending it out… which is doubtful …as the Keystone Pipeline is projected to send more crude to Houston to Refine …then I would say your statements are absolutely incorrect…. flakey, flakey, jopa?


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