Solyndra Auction Will Unload Bankrupt Solar Panel Maker's Assets

FREMONT, Calif. — The bankrupt solar company Solyndra Inc. is auctioning off surplus assets this week as part of its bankruptcy proceedings.

Starting Wednesday, buyers can purchase the former solar manufacturer's office microwave, artwork that once hung on its walls and an array of heavy equipment and tools owned by the former solar panel maker. The online auction ends Thursday at 5 p.m.

The auction company Heritage Global Partners is calling the event the "solar auction of the year." Because the company is still up for sale, its facilities and major manufacturing equipment will not be auctioned.

"We're selling what's considered non-core, which means if a buyer bought Solyndra after the auction they could still operate without this equipment," said Ross Dove, managing partner with Heritage.

Solyndra, which received a $528 million federal loan guarantee and was touted by President Barack Obama as an example of his emphasis on so-called "green jobs," filed for bankruptcy in September and laid off 1,000 workers. The company has become a talking point for congressional Republicans opposed to government investments in clean energy.

Dove said there was so much interest in looking at the auction lots, the website went down temporarily Monday. That said, Dove said everything would be ready by auction time on Wednesday.

"The same thing happened when we did Enron too," Dove said.

Comments

[Jake Stine]

11:30 PM on 11/03/2011

So many people here pissed about a $0.5 billion loan that failed after a few years. You do realize that's 1/2000th the amount given to the banking system, right? This company did real research into potentially useful technology for the better part of three years with that money. There are dozens of large companies waiting in line for a company to innovate a viable CIGS production facility, ready and waiting for the chance to install such solar panels across the roofs of their offices.

Meanwhile, there are a few bankers who are much more interested in investing in something far less risky: the idiocy of the average middle-class american where home mortgage financing is concerned.

[blurredmolly]

10:11 AM on 11/02/2011

red meat for m()r()ns

[katooom]

02:03 PM on 11/02/2011

the m()r()ns were those who thought CIGS technology stood a chance in the marketplace.

[Genders]

07:26 PM on 11/02/2011

http://www.prnewswire.com/news-releases/miasole-achieves-production-milestone-133064218.html CIGS is doing great in the market.

Solyandra's innovation was tubes, not the material, thanks for playing. They installed 100MW of system, that will produce a billion dollars worth of electricity over the next 20 years.

That's sure beats war.

[Llib Noswad]

09:58 AM on 11/02/2011

I'm surprised that obama didn’t just give them another billion or so to keep them from going under.

[katooom]

09:07 AM on 11/02/2011

CIGS solar technology = TOTAL FAIL

Just about ANY solar technologist knows this. What was the admin thinking?

[Genders]

07:27 PM on 11/02/2011

What? You work for a competing company? CIGS is doing great.
http://www.solarserver.com/solar-magazine/solar-news/current/2011/kw43/q-cells-martin-bucher-open-worlds-largest-cigs-powered-pv-plant.html

[treasuredtrophie]

08:55 AM on 11/02/2011

How much did the heads walk with that were Obama supporters?

[blurredmolly]

10:08 AM on 11/02/2011

bet it wasn't as much as the TARP guys paid off by bush.

[foregolf60]

08:46 AM on 11/02/2011

Everytime I read these comments someone blames Bush,yes Bush was terrible but he is gone thankfully. We all bought into hope and change but again we were duped. It turns out all of Obamas appointments are bigwig bankers and wall street cronies. He has recieved more wall street donations than any other president. I only hope that America sees that our only collective hope for change is Ron Paul. If the media hates him and the political machines hates him then he has my vote!

[ddstan1120]

08:11 AM on 11/02/2011

Has anyone out there heard about the huge amount of money the governmnet has given to Nancy Pelosi's brother so he can start a similar business in Nevada, of all places, that will create 45 new full time jobs, at about 1.5 million dollars per job?

[treasuredtrophie]

08:56 AM on 11/02/2011

Keep voting those 2 stooges in.

[blurredmolly]

10:09 AM on 11/02/2011

stooges? Perry? Romney? Cain? Bachaman? like you got room to talk.

obama/biden 2012

[corsair807]

07:12 AM on 11/02/2011

WELL WELL WELL MORE OF OUR MONEY PISSED AWAY.

[mac2jr]

07:51 AM on 11/02/2011

Not... The last administration did it to you and I, and we are now trillions in debt due to them, remember it, it is the future as we will be paying more trillions to repair the damage we did to our individual warriors, our reputations, our friend and our once supporters.

[treasuredtrophie]

08:59 AM on 11/02/2011

4 trillion since OB in

[treasuredtrophie]

08:55 AM on 11/02/2011

Gottas love Harry, Nancy and Barry

[des946]

02:52 AM on 11/02/2011

This is the type of deal/situation where the value of the parts is substantially less than the "whole assembly" (the working/functioning corporation).

Simantling a corporation is a tremendous loss of jobs and potential value in produced goods . . . in essence, it dimenishes all of us directly or indirectly.

[excursioner]

02:04 AM on 11/02/2011

So why are the Anarchist 10%ers who call themselves 99%ers not protesting the White House for Obama giving $500,000,000.00 of OUR tax dollars to his buddies at Solyndra?
Why is Obama not investigating his buddies at Solyndra that get to walk away with $500 Million dollars of OUR tax dollars?
Why did Obama is idly by while his buddies at Solyndra maneuvered to put their investors interest ahead of OUR tax dollars?
If the investors of Solyndra made a profit without OUR tax dollars were they going to share that with us? If not, then why did Obama see it necessary to give his buddies $500 Million dollars of OUR tax money so that their investors wouldn't lose their investments?
This is corruption at the top. This is a gift of OUR tax dollars. This is exactly what those Progressive duped Liberal Anarchist 10%ers should be protesting. Instead they follow the directions of their Progressive bosses and protest the people who have no control over our treasury or how OUR tax dollars are spent. It takes a politician like the Progressive Obama to dole out OUR tax dollars to his buddies on wall Street and Solyndra.

[mac2jr]

07:12 AM on 11/02/2011

The Obama Administration backed loans to hundreds of solar, wind, and other alternative energy and battery companies, and has had two (2) of the hundreds fail, which by For-Profit, Free-Enterprise STANDARDS is a VERY GOOD SUCCESS RECORD.

The For-Profit, Free-Enterprise system normally has 4 of 5 new starts FAIL within the first five years, 1 in 5 FAIL within the first year.

There is no corruption or other 'gifts' in this, only the For-Profit, Free-Enterprise system at work trying to get the USA off dirty coal, dirty oil, and water poisoning Natural Gas Fracking.

[treasuredtrophie]

08:57 AM on 11/02/2011

When the market is ready somone will step forward. The Gov can't rush that.

[katooom]

09:08 AM on 11/02/2011

wrong. there are more FAILS than success. Look up A123 batteries sometime.

[NoQuarter472]

12:02 AM on 11/02/2011

Understand Obama's, FEMA is being given an ample budget to train personnel for invasions from space aliens, what he doesn't know is that we know they are here running the government. Polosi, Reid, Schumer, Durbin, Weiner (scratch that one) and the list goes on, they landed along time ago.

[mac2jr]

07:17 AM on 11/02/2011

http://www.dhs.gov/ynews/releases/pr_1265049379725.shtm

HS and FEMA budget; where in this do you find 'invasions from space aliens'?

[blurredmolly]

10:10 AM on 11/02/2011

in that pea brain of his. plans for dealing with extraterrestrials have been on the books for decades.

[NoQuarter472]

11:47 PM on 11/07/2011

Hey Genius ..do your own homework...

[AverageJoeSixPac]

11:53 PM on 11/01/2011

To the tune of ”Where have all the flowers gone"

Where have all those Green Jobs gone, long time in the making,
Where have all those Green Jobs gone, long time ago.....
Where have all those Green Companies gone, gone into bankruptcy everyone,
When will they ever learn,.... when will they ever learn....

Where have all the Windmills gone, long time in the making,
Where have all the Windmills gone, so long ago,
Where have all those Windmill Workers gone,,,, gone to welfare lines everywhere­. When will they ever learn, when will they ever learn....

Where have all the Solar Panels gone, decades in the making..
Where have all the Solar Companies gone, with all that money loaned..
Where has all that Wasted Money gone, re-electing Democrats everyone..
and down the toilet it has gone, down the toilet…..it has gone.

AJSP

[corsair807]

07:10 AM on 11/02/2011

GREAT,I LIKE IT,SEND IT TO OBAMA THE CHANGE YOU CAN BELIEVE IN MAN.

[mac2jr]

07:53 AM on 11/02/2011

Why don't you actually do some research and find the TRUTH. The cause of Solyndra's problems is unfair pricing from China, not their product, which is one of the better ideas of the century.

[mac2jr]

07:22 AM on 11/02/2011

Now for the TRUTH

http://www.whitehouse.gov/energy/securing-american-energy

[NoQuarter472]

11:49 PM on 11/01/2011

Solyndra and MFGlobal are just hatched baby obama eggs, that will hatch into large turkeys for the Chicago Administration and Associates. Stay tuned, the yolk will be on...Greenies/

[mac2jr]

07:28 AM on 11/02/2011

Why don't you spend some time researching and posting the destruction of land, water supplies, oceans, and the air with the mercury, arsenic, CO2, dust, and other pollution, and the destruction of forest and mountains and rivers and towns, by the OIL and COAL industries.

We are spending billions per year on Oil and Coal generated health problems, we are fighting trillion dollar wars for Oil, we are ticking off friends in Canada with our glutenous appetite for Oil from the Tar Sands, and we are killing the world's food supply with our Oil related Ethanol.

Now, we are all for clean energy, but the OIL, Natural Gas, and Coal industries have been around for over 100 years and have PROVEN that they cannot provide CLEAN ENERGY without world wide destruction, it is time to try something NEW.

[knkdnsr]

08:02 AM on 11/02/2011

There is nothing wrong with investing in the future. Yes there will be companies that will fail along the way. The problem with Solyndra and possibly another one that just files bankruptcy this week. They were deals pushed through by this administration for these loans that were turned down because they had no chance of survival. The investigation is the spending of tax payer money for political purposes. Solyndra was one of the first companies to apply for the program in 2005. They were turned down because they had no change of being able to compete in a global market and a very slim chance of making it in a domestic market. This deal was not approved until Obama took office. The CEO and one other official from Solyndra were major contributors to the Obama campaign. One outside investor also a heavy contributor and bundler for the Obama campaign visited the white house as many as 20 times before this deal was approved. They have inter office memos that state ."I am under pressure to get this deal approved. I am getting pressure from the office of the VP and white house. This is nothing more then political favoring on taxpayer money.

[AverageJoeSixPac]

02:20 AM on 11/04/2011

Time out, take a deep breath, now, show me where are the masses of health problems caused by oil and coal. there must be some damn reliable information out there some where that shows an obvious epidemic of problems? And there must be some data on the millions of deaths caused by oil and coal.

You can look up and find the millions of people that have died in Africa due to Malaria because of the environmental lies about DDT. Now a new lie is starting that coal and oil are killing our kids?

come on dude, numbers,, how many have died because of chronic diseases caused by Oil and Coal.

Oh, and while your doing your google search for an answer, look up the life expectancy increase in the last 100 years and see if it parallels with the increase in energy usage.

[treasuredtrophie]

09:01 AM on 11/02/2011

I like that comment

[NoQuarter472]

12:42 AM on 11/07/2011

Thanks trophie....It won't be long before the real fecal matter of Solyndra breaks,,seems like Obama is denying access to the records subpoened by the Congress. There are several other companies that have bellied up and the rumblings are that they in the billions. Now, why would I not believe that...no doubt the syndicate is reaping a good profit?

[darkwaterz29]

11:35 PM on 11/01/2011

Two words: Imagine that.

[bustaroost]

11:32 PM on 11/01/2011

hey all you libs. I tried to defend herman cain on his issue yet the hp will not let one comment go thru that is against their liby view. why not? is this what u guys argue with? no real info

[darkwaterz29]

11:35 PM on 11/01/2011

Liberal tolerance and freedom of speech. Not exactly as advertised.

[mac2jr]

07:29 AM on 11/02/2011

Your statement is NOT true.