If you’ve had anything to do with Obama from a bumper sticker to bailouts, you might want to turn a circle three times in your tracks while you cross yourself. Or tack a horseshoe above your door. Or do a novena to Saint Jude.
Because the president is more than just a bad executive, he’s star-crossed. From union bosses, to Chicago, to CEOs, to millionaires, to billionaires, homeowners and healthcare practitioners, everyone involved with him is feeling hexed.
The hasty departure of First Solar CEO Robert Gillette, an Obama favorite, sent share prices for the publicly-traded “green” energy company tumbling 25 percent on Tuesday, on general jitters that another green rat may be abandoning another solar-powered sinking ship.
The company, whose stock has traded as high as $311 in May of 2008, was trading at $43.27 in after hours on Tuesday.
First Solar was one of the bigger benefactors of Obama’s Cash-by-Suckers program designed to, um…invest?- no, that’s not right; to support?- no, that’s not right either; designed to waste taxpayers' money on more solar crap that doesn’t work, won’t pay and can’t be justified financially or scientifically.
To make it easy on my Democrat friends, First Solar got the financial equivalent of four (4) Solyndra-type deals in September.
First Solar received $2 billion worth of loan guarantees on projects in California in the waning days of the controversial Department of Energy’s loan program. The company then sold the projects to other, better-connected companies within hours of getting the guarantees.
And when I say better connected, I’m not talking transmission lines.
Which other companies you ask?
GE and NextEra Energy.
You might remember them because the executives from GE and NextEra sit on Obama’s jobs council.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for July 30th, 2014 | John Ransom
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