Another Green Company Goes Under

First Solar, a solar panel company based in Tempe Arizona, is laying off 2,000 employees, which is 30 percent of its global workforce.  Why is First Solar laying off people? "...to address the oversupply of solar panels on the market"

Oh really?  You mean....there's not enough demand, so this may not have been a good business venture?

Here's another interesting tidbit: The company is nearly finished building a factory in Mesa that will be put on hold indefinitely once it's completed. Officials have said they will move some employees into the building once it is done next month but have no plans to start the manufacturing lines.

First Solar is another Obama -funded "green" company.  So YOU the taxpayer have funded a company that is addressing a market that has no demand by building a manufacturing plant that will sit idle....on your tax dollars.


Never Showed Profitability:
The solar industry has been troubled by an oversupply of solar panels as the price to make them has dropped in the past year, and as the biggest market for them, Germany, has cut its subsidies.  So it's subsidies that created a "market" for solar panels.

First Solar has never been profitable.  Referring to an article in Forbes, they showed growth in the beginning, but..."First Solar’s success rests on government subsidies and tax breaks, foreign and domestic." 

 

This is what happens when you let a leftist community organizer who has NO business experience into the White House.  He throws billions of dollars at companies and industries that will never be profitable.  And YOU are paying the tab.

 

Obama is causing the layoffs:

Obama has shut down the oil industry; 

• He's cut off all drilling in the Gulf and Alaska.
• He rejected the Keystone Pipeline.
• He gave seven oil-rich Alaskan islands to Russian. 

 All of this has caused gas prices to skyrocket.  And his only answer is to continue to shovel billions of dollars to industries that are failing...costing us trillions of dollars that could be used elsewhere for greater effect for all Americans.

The only solution is to throw the idiot out of office in November before he ruins the country completely.

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