Via Michelle Malkin, who links to this blurb from the Denver Post:
Longmont-based Abound Solar, recipient of a $400 million federal loan guarantee to expand solar panel production, said Tuesday it is laying off 280 workers and delaying a new factory in Indiana.
The layoffs represent 180 full-time workers and, according to the Longmont Times-Call, an additional 100 part-time employees. That is about a 70 percent reduction of Abound’s Colorado workforce.
“We are facing tough market conditions and falling prices” said Steve Abely, Abound’s chief financial officer.
Abound will take six to nine months to install new equipment and develop a solar panel that will be 20 percent more efficient and more cost competitive, the company said.
“Hopefully by then the market will recover,” Abely said.
Newsflash: Hope is not a business plan or an exit strategy. Yeah. More cost competitive until China drops its prices. If you have no competitive advantage, it’s time to move on.
The DOE needs to shut down this failure today.