independent and unofficial
Prince fan community site
Mon 24th Nov 2014 12:08pm
Welcome! Sign up or enter username and password to remember me
Forum jump
Forums > Politics & Religion > Obama - Yet Another Bad Campaign Decision
« Previous topic  Next topic »
  New topic   Printable     (Log in to 'subscribe' to this topic)
Author

Tweet     Share

Message
Thread started 05/25/12 10:32am

seekingtruth

Obama - Yet Another Bad Campaign Decision

Perhaps it is not necessarily a bad campaign decision. It could simply be all that he has to do with his advertising dollars since he doesn't seem too keen on running on the merits of his first term (ie Obamacare and Stimulus). In fact, in their recent numbers to show how little he spends, he actually credits the dollars from the stimulus to Bush's presidency......sad.

Truth is.....Obama is wanting to make his campaign about Mitt Romney's tenure at Bain Capital, and that could bite back. As a CEO of a Private Equity Firm goes, Mitt Romney was quite successful. If Obama is going to take that route, Romney needs to educate him on what a Private Equity Firm does....

Now to an article I just read. If Obama is going to target Mitt Romney's handling of Private Equity, he opens the dialogue to allow Mitt Romney to target his handling of Public Equity. Here is a link and a few examples of Obama's incredible investment abilities:

http://www.washingtonpost...story.html

Raser Technologies. In 2010, the Obama administration gave Raser a $33 million taxpayer-funded grant to build a power plant in Beaver Creek, Utah. According to the Wall Street Journal, after burning through our tax dollars, the company filed for bankruptcy protection in 2012. The plant now has fewer than 10 employees, and Raser owes $1.5 million in back taxes.

● ECOtality. The Obama administration gave ECOtality $126.2 million in taxpayer money in 2009 for, among other things, the installation of 14,000 electric car chargers in five states. Obama even hosted the company’s president, Don Karner, in the first lady’s box during the 2010 State of the Union address as an example of a stimulus success story. According to ECOtality’s own SEC filings, the company has since incurred more than $45 million in losses and has told the federal government, “We may not achieve or sustain profitability on a quarterly or annual basis in the future.”

Worse, according to CBS News the company is “under investigation for insider trading,” and Karner has been subpoenaed “for any and all documentation surrounding the public announcement of the first Department of Energy grant to the company.”

● Nevada Geothermal Power (NGP). The Obama administration gave NGP a $98.5 million taxpayer loan guarantee in 2010.The New York Times reported last October that the company is in “financial turmoil” and that “[a]fter a series of technical missteps that are draining Nevada Geothermal’s cash reserves, its own auditor concluded in a filing released last week that there was ‘significant doubt about the company’s ability to continue as a going concern.’ ”

● First Solar. The Obama administration provided First Solar with more than $3 billion in loan guarantees for power plants in Arizona and California. According to aBloomberg Businessweek report last week, the company “fell to a record low in Nasdaq Stock Market trading May 4 after reporting $401 million in restructuring costs tied to firing 30 percent of its workforce.”

● Abound Solar, Inc. The Obama administration gave Abound Solar a $400 milli... guarantee to build photovoltaic panel factories. According to Forbes, in February the company halted production and laid off 180 employees.

● Beacon Power. The Obama administration gave Beacon — a green-energy storage company — a $43 million loan guarantee. According to CBS News, at the time of the loan, “Standard and Poor’s had confidentially given the project a dismal outlook of ‘CCC-plus.’ ” In the fall of 2011, Beacon received a delisting notice from Nasdaq and filed for bankruptcy.

This is just the tip of the iceberg. A company called SunPower got a $1.2 billion loanguarantee from the Obama administration, and as of January, the company owed more than it was worth. Brightsource got a $1.6 billion loan guarantee and posted a string of net losses totaling $177 million. And, of course, let’s not forget Solyndra — the solar panel manufacturer that received $535 million in taxpayer-funded loan guarantees and went bankrupt, leaving taxpayers on the hook.

Amazingly, Obama has declared that all the projects received funding “based solely on their merits.” But as Hoover Institution scholar Peter Schweizer reported in his book, “Throw Them All Out,” fully 71 percent of the Obama Energy Department’s grants and loans went to “individuals who were bundlers, members of Obama’s National Finance Committee, or large donors to the Democratic Party.” Collectively, these Obama cronies raised $457,834 for his campaign, and they were in turn approved for grants or loans of nearly $11.35 billion. Obama said this week it’s not the president’s job “to make a lot of money for investors.” Well, he sure seems to have made a lot of (taxpayer) money for investors in his political machine.

True genius is knowing how little
you really know.
  - E-mail - orgNote - Report post to moderator
Reply #1 posted 05/25/12 10:40am

V10LETBLUES

avatar

Not bad at all.

He should continue to bash him on Bain and keep reminding everyone that we are here because of Bush and just keep poundimg at it. If some in the media or other certain politicians don't like it, then too bad. Not pounding away at these issues WILL hurt him.

He needs to go Bain and Bush hard.

innocent “To understand is to stand under which is to look up to which is a good way to understand.”
  - E-mail - orgNote - Report post to moderator
Reply #2 posted 05/25/12 10:49am

SupaFunkyOrgan
grinderSexy

avatar

V10LETBLUES said:

Not bad at all.

He should continue to bash him on Bain and keep reminding everyone that we are here because of Bush and just keep poundimg at it. If some in the media or other certain politicians don't like it, then too bad. Not pounding away at these issues WILL hurt him.

He needs to go Bain and Bush hard.

nod

Mitt Ronmey got rich by destroying people's lives. The American people need to hear this like a mantra.

2010: Healing the Wounds of the Past.... http://prince.org/msg/8/325740
  - E-mail - orgNote - Report post to moderator
Reply #3 posted 05/25/12 10:52am

rudedog

avatar

V10LETBLUES said:

Not bad at all.

He should continue to bash him on Bain and keep reminding everyone that we are here because of Bush and just keep poundimg at it. If some in the media or other certain politicians don't like it, then too bad. Not pounding away at these issues WILL hurt him.

He needs to go Bain and Bush hard.

Typical conservatives like Romney think government should be run as a business.
Haven't we heard this one before? Sounds like a mormon, male version of Meg Whitman

But let's get it straight. Government is not a business.Businesses typically increase profits by decreasing jobs. I don't think that's a formula for the government.

Bush did that with the disasterous Bush tax cuts and starting two wars unpaid for and unpaid for prescription drug program for Medicare users....and also continued to deregulate the market. Romney wants to cut even more taxes and entitlement programs that are still needed and eliminate Medicare as we know it and keep the party going for Wall Street! That's crony capitalism.

"The voter is less important than the man who provides money to the candidate," - Former Supreme Court Justice John Paul Stevens
Rudedog no no no!
  - E-mail - orgNote - Report post to moderator
  New topic   Printable     (Log in to 'subscribe' to this topic)
« Previous topic  Next topic »
Forums > Politics & Religion > Obama - Yet Another Bad Campaign Decision