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Bully Pulpit

The term "bully pulpit" stems from President Theodore Roosevelt's reference to the White House as a "bully pulpit," meaning a terrific platform from which to persuasively advocate an agenda. Roosevelt often used the word "bully" as an adjective meaning superb/wonderful. The Bully Pulpit features news, reasoned discourse, opinion and some humor.

Tuesday, October 11, 2011

SunPower: Twice As Bad As Solyndra, Twice As Bad For Obama

Congressman's son lobbied for failing solar panel company

(By Neil W. McCabe, Human Events) -
How did a failing California solar company, buffeted by short sellers and shareholder lawsuits, receive a $1.2 billion federal loan guarantee for a photovoltaic electricity ranch project—three weeks after it announced it was building new manufacturing plant in Mexicali, Mexico, to build the panels for the project.

The company, SunPower (SPWR-NASDAQ), now carries $820 million in debt, an amount $20 million greater than its market capitalization. If SunPower was a bank, the feds would shut it down. Instead, it received a lifeline twice the size of the money sent down the Solyndra drain.

Two men with insight into the process are SunPower rooter Rep. George R. Miller III, (D.-Calif.), the senior Democrat on the House Education and Workforce Committee and the co-chairman of the Democratic Steering and Policy Committee, and his SunPower lobbyist son, George Miller IV.


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