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(Charlotte Observer)   Lincolnton Furniture Company, hailed by President Obama as an example of the recovering U.S. economy goes the way of Solyndra, a company hailed by Obama as an example of the recovering U.S. economy   (charlotteobserver.com) divider line 46
    More: Sad, Lincolnton Furniture Company, President Obama, U.S., fifth generation, U.S. economy  
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1183 clicks; posted to Business » on 04 Jan 2013 at 11:39 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



46 Comments   (+0 »)
   
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2013-01-04 05:33:30 AM  
Oh sure. Pick on Obama's bad picks, whydoncha. No one ever praises him for the good stuff he's done.
 
2013-01-04 07:35:58 AM  

AverageAmericanGuy: Oh sure. Pick on Obama's bad picks, whydoncha. No one ever praises him for the good stuff he's done.


Obama could walk on water and the Republicans would just turn around and say that it proves that black men can't swim.
 
2013-01-04 07:57:34 AM  

DammitIForgotMyLogin: AverageAmericanGuy: Oh sure. Pick on Obama's bad picks, whydoncha. No one ever praises him for the good stuff he's done.

Obama could walk on water and the Republicans would just turn around and say that it proves that black men can't swim.


Well done.
 
2013-01-04 08:33:16 AM  
Job Creators indeed.
 
2013-01-04 10:41:25 AM  
In before the der....
oh wait, too late
 
2013-01-04 11:16:20 AM  
Damnit Fartbongo, if you didn't fart on all the furniture, then it wouldn't smell and people would buy it. But people (generally) hate the smell of farts so they didn't buy the fartiture. Fartface.

Vote Republican.
 
2013-01-04 11:50:25 AM  
A business endorsement from Obama is like hiring Romney as your CEO. Either way, you're farked.
 
2013-01-04 11:56:01 AM  

DammitIForgotMyLogin: Obama could walk on water and the Republicans would just turn around and say that it proves that black men can't swim.


They're certainly being very quiet about how well the auto industry is doing this year, and how well it's forecast to do next year.
 
2013-01-04 12:00:54 PM  

HMS_Blinkin: They're certainly being very quiet about how well the auto industry is doing this year, and how well it's forecast to do next year.


Channel Stuffing
 
2013-01-04 12:05:53 PM  
Earlier this morning Malkin was giddy on Twitter about these Americans losing their jobs just because it serves as a cheap throwaway shot at the "opposing team".
 
2013-01-04 12:11:51 PM  

DammitIForgotMyLogin: AverageAmericanGuy: Oh sure. Pick on Obama's bad picks, whydoncha. No one ever praises him for the good stuff he's done.

Obama could walk on water and the Republicans would just turn around and say that it proves that black men can't swim.


The ability to walk on water does not make you a better leader or president.
 
2013-01-04 12:17:40 PM  

DammitIForgotMyLogin: Obama could walk on water and the Republicans would just turn around and say that it proves that black men can't swim.


The irony; it burns
 
2013-01-04 12:26:51 PM  

AverageAmericanGuy: Oh sure. Pick on Obama's bad picks, whydoncha. No one ever praises him for the good stuff he's done.


Like?
 
2013-01-04 12:33:31 PM  
This is just like the weather to climate derp.

1 Company 0bamao endorsed failed therefore the economy is ruined and Sara Palin is president
 
2013-01-04 12:43:40 PM  
So a company less than two years old failed? Oh the humanity.
 
2013-01-04 01:08:57 PM  

max_pooper: So a company less than two years old failed? Oh the humanity.


It's not so much the company failed it is the fact it was praised as a herald of the recovering economy by the President and then subsequently went tits up.

But hey this is Fark, Obama could drop a huge upper decker in the master bath of the posters here and they'd thank him for making the house smell better.

/generalizing is fun, I see why so many do it
 
2013-01-04 01:32:21 PM  
Critics have seized on the news of Solyndra's bankruptcy to condemn the Department of Energy's Loan Guarantee Program, which provided a $535 million loan guarantee in 2009. The National Review's Greg Pollowitz writes that Solyndra's failure shows "why the government should not play venture capitalist." Yet the fact is that, when judged by its entire diverse portfolio of investments, the LGP has performed remarkably well. Indeed, with a capitalization of just $4 billion, DOE has committed or closed $37.8 billion in loan guarantees for 36 innovative clean energy projects. The Solyndra case represents less than 2% of total loan commitments made by DOE, and will be easily covered by a capitalization of eight to ten times larger than any ultimate losses expected following the bankruptcy proceedings.

Forbes: Solyndra's Failure Is No Reason To Abandon Federal Energy Innovation Policy
 
2013-01-04 01:33:16 PM  

WillyChase: This is just like the weather to climate derp.

1 Company 0bamao endorsed failed therefore the economy is ruined and Sara Palin is president


I see 2 just in the headline
 
2013-01-04 01:54:33 PM  
Maybe the company found out they could have the stuff made in China, shipped over here, and make a bigger profit to boot. They'll be back under a different name.
 
2013-01-04 02:06:05 PM  

js34603: max_pooper: So a company less than two years old failed? Oh the humanity.

It's not so much the company failed it is the fact it was praised as a herald of the recovering economy by the President and then subsequently went tits up.

But hey this is Fark, Obama could drop a huge upper decker in the master bath of the posters here and they'd thank him for making the house smell better.

/generalizing is fun, I see why so many do it


So let me get his straight:

So coming off an era of extremely tight credit where there was very little investment money to open businesses, a new furniture manufacturer opened up and hired a bunch of new people. Obama sited it as an example of the economy turning the corner. Now that said business has become just another failed start up this is somehow a sign of total economic failure.

New companies fail all the time, sometimes due to mismanagement, underestimating overhead costs, misreading the market, economic forces or just bad luck. The article sited insufficient orders as the reason this company failed. What do you think that means? Were they incurring higher costs than expected? Was there a smaller customer base than was believed? Was it the economy? If this company closed due to the economy as a whole, you would expect to see closures all across the sector. Do you have numbers on how many furniture companies went out of business in 2012?

The fact that credit has loosened up and new business are opening is a good sign for the economy, even if there are the predictable failures along the way.
 
2013-01-04 03:00:43 PM  
See, I was under the impression that President Fart was an owner of Solyndra or at the very least had a controlling interest in it, and was personally responsible for running it into the ground.
 
2013-01-04 03:03:12 PM  
See, libs.  Mitt would have told them how they're lucky to have a job and that if he were running the place he'd replace them all with robots and Chinamen.  That would have gotten them cranking out some furniture.
 
2013-01-04 03:08:43 PM  
Yeah - everything is terrible, and the people in charge are all big dummies, and not smart like us. Let's all cry moar.
 
2013-01-04 03:52:46 PM  

Rapmaster2000: See, libs.  Mitt would have told them how they're lucky to have a job and that if he were running the place he'd replace them all with robots and Chinamen.  That would have gotten them cranking out some furniture.


That is not the preferred nomenclature.
 
2013-01-04 04:19:23 PM  

Harvey Manfrenjensenjen: Rapmaster2000: See, libs.  Mitt would have told them how they're lucky to have a job and that if he were running the place he'd replace them all with robots and Chinamen.  That would have gotten them cranking out some furniture.

That is not the preferred nomenclature.


Yeah man it's railroad engineers.
 
2013-01-04 04:27:21 PM  
People Derp on the Internet about Obama ruining the economy.

Then, they go out and buy Chinese-made furniture.
 
2013-01-04 04:43:19 PM  

Big_Thumb: Critics have seized on the news of Solyndra's bankruptcy to condemn the Department of Energy's Loan Guarantee Program, which provided a $535 million loan guarantee in 2009. The National Review's Greg Pollowitz writes that Solyndra's failure shows "why the government should not play venture capitalist." Yet the fact is that, when judged by its entire diverse portfolio of investments, the LGP has performed remarkably well. Indeed, with a capitalization of just $4 billion, DOE has committed or closed $37.8 billion in loan guarantees for 36 innovative clean energy projects. The Solyndra case represents less than 2% of total loan commitments made by DOE, and will be easily covered by a capitalization of eight to ten times larger than any ultimate losses expected following the bankruptcy proceedings.

Forbes: Solyndra's Failure Is No Reason To Abandon Federal Energy Innovation Policy


fark you and your facts
 
2013-01-04 06:16:34 PM  

DammitIForgotMyLogin: AverageAmericanGuy: Oh sure. Pick on Obama's bad picks, whydoncha. No one ever praises him for the good stuff he's done.

Obama could walk on water and the Republicans would just turn around and say that it proves that black men can't swim.


Obama could BBQ little babies on the White House lawn and Democrats would praise him as the second coming.
 
2013-01-04 06:17:05 PM  
Lincolnton didn't get any government loan guarantees, did they? If not, any blame directed at the current administration is unwarranted.
 
2013-01-04 06:21:15 PM  

The All-Powerful Atheismo: Big_Thumb: Critics have seized on the news of Solyndra's bankruptcy to condemn the Department of Energy's Loan Guarantee Program, which provided a $535 million loan guarantee in 2009. The National Review's Greg Pollowitz writes that Solyndra's failure shows "why the government should not play venture capitalist." Yet the fact is that, when judged by its entire diverse portfolio of investments, the LGP has performed remarkably well. Indeed, with a capitalization of just $4 billion, DOE has committed or closed $37.8 billion in loan guarantees for 36 innovative clean energy projects. The Solyndra case represents less than 2% of total loan commitments made by DOE, and will be easily covered by a capitalization of eight to ten times larger than any ultimate losses expected following the bankruptcy proceedings.

Forbes: Solyndra's Failure Is No Reason To Abandon Federal Energy Innovation Policy

fark you and your facts


Here's some more of them thar facts for your amusement.

Complete List of Federal Taxpayer-Backed Green Energy Failures:

(as of Thursday, October 18th, 2012)

Evergreen Solar ($24 million)*
SpectraWatt ($500,000)*
Solyndra ($535 million)*
Beacon Power ($69 million)*
AES's subsidiary Eastern Energy ($17.1 million)
Nevada Geothermal ($98.5 million)
SunPower ($1.5 billion)
First Solar ($1.46 billion)
Babcock and Brown ($178 million)
EnerDel's subsidiary Ener1 ($118.5 million)*
Amonix ($5.9 million)
National Renewable Energy Lab ($200 million)
Fisker Automotive ($528 million)
Abound Solar ($374 million)*
A123 Systems ($279 million)*
Willard and Kelsey Solar Group ($6 million)
Johnson Controls ($299 million)
Schneider Electric ($86 million)
Brightsource ($1.6 billion)
ECOtality ($126.2 million)
Raser Technologies ($33 million)*
Energy Conversion Devices ($13.3 million)*
Mountain Plaza, Inc. ($2 million)*
Olsen's Crop Service and Olsen's Mills Acquisition

Company ($10 million)*
Range Fuels ($80 million)*
Thompson River Power ($6.4 million)*
Stirling Energy Systems ($7 million)*
LSP Energy ($2.1 billion)*
UniSolar ($100 million)*
Azure Dynamics ($120 million)*
GreenVolts ($500,000)
Vestas ($50 million)
LG Chem's subsidiary Compact Power ($150 million)
Nordic Windpower ($16 million)*
Navistar ($10 million)
Satcon ($3 million)*

*Denotes companies that have filed for bankruptcy.
 
2013-01-04 07:35:01 PM  

Spare Me: The All-Powerful Atheismo: Big_Thumb: Critics have seized on the news of Solyndra's bankruptcy to condemn the Department of Energy's Loan Guarantee Program, which provided a $535 million loan guarantee in 2009. The National Review's Greg Pollowitz writes that Solyndra's failure shows "why the government should not play venture capitalist." Yet the fact is that, when judged by its entire diverse portfolio of investments, the LGP has performed remarkably well. Indeed, with a capitalization of just $4 billion, DOE has committed or closed $37.8 billion in loan guarantees for 36 innovative clean energy projects. The Solyndra case represents less than 2% of total loan commitments made by DOE, and will be easily covered by a capitalization of eight to ten times larger than any ultimate losses expected following the bankruptcy proceedings.

Forbes: Solyndra's Failure Is No Reason To Abandon Federal Energy Innovation Policy

fark you and your facts

Here's some more of them thar facts for your amusement.

Complete List of Federal Taxpayer-Backed Green Energy Failures:

(as of Thursday, October 18th, 2012)
SunPower ($1.5 billion)


As of January 3, 2013.

SunPower, solar stocks surge after Warren Buffett buys Calif. plants

Relevant to your interests: "The SunPower deal, worth as much as $2.5 billion, sent solar stocks on a tear.

SunPower soared as much as 41% to $8.68 a share. Lazard Capital Markets upgraded the company to buy from neutral.

Suntech was up more than 18% to $1.90 a share, while First Solar gained as much as 11% to $35.60 a share."

First Solar (bolded by yours truly) was also on your list of failures. But we get it; DammitIForgotMyLogin explained your "thinking" perfectly.
 
2013-01-04 08:29:24 PM  

Anonymocoso: People Derp on the Internet about Obama ruining the economy.

Then, they go out and buy Chinese-made furniture.


Yup. Reality sucks.
 
2013-01-04 08:31:26 PM  

Spare Me: *Denotes companies that have filed for bankruptcy.


Since we are reaching way back, how many hundreds of billions have been given to oil and coal over the years?
 
2013-01-04 08:34:10 PM  
There isn't one single job in this country that can't be done cheaper by someone in Asia or by a Hispanic immigrant. Not. One. Job.

The fact that you are still working is just a sign of how lazy your management is.
 
2013-01-04 09:44:14 PM  
I'm sure this is Bush's fault...
 
2013-01-04 10:52:11 PM  
What a failure Obama is. So far he is only at 300% the success rate of new businesses. A total loser.
 
2013-01-04 10:52:22 PM  

Ontos: I'm sure this is Bush's fault...


Man you guys are whiny biatches.
 
2013-01-04 11:21:28 PM  

Spare Me: The All-Powerful Atheismo: Big_Thumb: Critics have seized on the news of Solyndra's bankruptcy to condemn the Department of Energy's Loan Guarantee Program, which provided a $535 million loan guarantee in 2009. The National Review's Greg Pollowitz writes that Solyndra's failure shows "why the government should not play venture capitalist." Yet the fact is that, when judged by its entire diverse portfolio of investments, the LGP has performed remarkably well. Indeed, with a capitalization of just $4 billion, DOE has committed or closed $37.8 billion in loan guarantees for 36 innovative clean energy projects. The Solyndra case represents less than 2% of total loan commitments made by DOE, and will be easily covered by a capitalization of eight to ten times larger than any ultimate losses expected following the bankruptcy proceedings.

Forbes: Solyndra's Failure Is No Reason To Abandon Federal Energy Innovation Policy

fark you and your facts

Here's some more of them thar facts for your amusement.

Complete List of Federal Taxpayer-Backed Green Energy Failures:

(as of Thursday, October 18th, 2012)

Evergreen Solar ($24 million)*
SpectraWatt ($500,000)*
Solyndra ($535 million)*
Beacon Power ($69 million)*
AES's subsidiary Eastern Energy ($17.1 million)
Nevada Geothermal ($98.5 million)
SunPower ($1.5 billion)
First Solar ($1.46 billion)
Babcock and Brown ($178 million)
EnerDel's subsidiary Ener1 ($118.5 million)*
Amonix ($5.9 million)
National Renewable Energy Lab ($200 million)
Fisker Automotive ($528 million)
Abound Solar ($374 million)*
A123 Systems ($279 million)*
Willard and Kelsey Solar Group ($6 million)
Johnson Controls ($299 million)
Schneider Electric ($86 million)
Brightsource ($1.6 billion)
ECOtality ($126.2 million)
Raser Technologies ($33 million)*
Energy Conversion Devices ($13.3 million)*
Mountain Plaza, Inc. ($2 million)*
Olsen's Crop Service and Olsen's Mills Acquisition

Company ($10 million)*
Range Fuels ($80 million)*
Thompson River Power ($6.4 mi ...


Is that all? Shiat - that many businesses fail in this country every day. Somebody must be desperate for something to cry about - most likely some stupid f**k who works in a cubicle and thinks everything would be great if HE was in charge.
 
2013-01-05 12:10:33 AM  

Spare Me: DammitIForgotMyLogin: AverageAmericanGuy: Oh sure. Pick on Obama's bad picks, whydoncha. No one ever praises him for the good stuff he's done.

Obama could walk on water and the Republicans would just turn around and say that it proves that black men can't swim.

Obama could BBQ little babies on the White House lawn and Democrats would praise him as the second coming.


And yet, the Republicans couldn't get a majority of Americans to vote for their candidate, the Republican Congress has the lowest approval rating ever recorded, and Obama's popularity goes up.

How terrible must your political party be, when a baby eating black guy named Barack Hussein is more popular than it, and getting more popular by the day?
 
2013-01-05 12:18:00 AM  

jso2897: Is that all? Shiat - that many businesses fail in this country every day. Somebody must be desperate for something to cry about - most likely some stupid f**k who works in a cubicle and thinks everything would be great if HE was in charge.


The difference being, when they fail in the private sector it's the investors who lose, not taxpayers. Think up another lame justification (as if I needed to encourage that, given what I've seen in this thread so far).
 
2013-01-05 12:24:08 AM  

ghare: Spare Me: DammitIForgotMyLogin: AverageAmericanGuy: Oh sure. Pick on Obama's bad picks, whydoncha. No one ever praises him for the good stuff he's done.

Obama could walk on water and the Republicans would just turn around and say that it proves that black men can't swim.

Obama could BBQ little babies on the White House lawn and Democrats would praise him as the second coming.

And yet, the Republicans couldn't get a majority of Americans to vote for their candidate, the Republican Congress has the lowest approval rating ever recorded, and Obama's popularity goes up.

How terrible must your political party be, when a baby eating black guy named Barack Hussein is more popular than it, and getting more popular by the day?


And yet this terrible party managed to retain the House, added to its majority of governorships, and kept its hold on the majority of state legislatures. BO and the Democrats managed to paint Romney as Out Of Touch Rich Guy, but they couldn't do the equivalent at the state and local level.
 
2013-01-05 02:06:30 AM  

jjorsett: The difference being, when they fail in the private sector it's the investors who lose, not taxpayers.


Really? The energy industry is the only industry the government has ever loaned money to, ever given subsidies to, ever?

Is this the argument you are going with?

Tell you what, we'll eliminate ALL solar's subsidies... if you're also cool with eliminating all gas, coal, and natural gas subsidies.

fark, you're also a person who complains about government investing in research, aren't you? "PRIVATE INDUSTRY WILL DO IT!"
 
2013-01-05 04:55:10 AM  

Anonymocoso: People Derp on the Internet about Obama ruining the economy.

Then, they go out and buy Chinese-made furniture.


My furniture is from Estonia, Sweden and North Carolina mainly. It's the electronics that come from China. Some of them anyway. Samsung galaxy s2x made in Korea I think?

/missing the point
 
2013-01-06 10:44:16 AM  

jjorsett: And yet this terrible party managed to retain the House, added to its majority of governorships, and kept its hold on the majority of state legislatures. BO and the Democrats managed to paint Romney as Out Of Touch Rich Guy, but they couldn't do the equivalent at the state and local level.


I see you haven't met their friend, Gerry Manderson. He's a contortionist.
 
2013-01-06 06:22:53 PM  
If Obama backs you with money or praise, you will fail
 
2013-01-07 10:59:29 AM  
I think Obama administration policies are helping the economy. That being said, the next time he's thinking of trying to help an individual company, he needs to not do that. He's the kiss of death as far as that goes.
 
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