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Dept of Energy Asked Solyndra to Delay Job Cuts News

Tuesday, 15 Nov 2011 11:29 AM

The U.S. Department of Energy asked Solyndra LLC to delay announcing it would fire workers until a day after last year’s elections, according to a House Republican staff report citing advisers for an investor in the failed solar-panel maker.

“DOE continues to be cooperative and have indicated that they will fund the November draw on our loan (app. $40 million) but have not committed to December yet,” an adviser to Argonaut Private Equity of Tulsa, Oklahoma, who wasn’t identified, wrote an associate in an e-mail. “They did push very hard for us to hold our announcement of the consolidation to employees and vendors to Nov. 3rd -- oddly they didn’t give a reason for that date.”

The e-mail was cited today in a staff memo written by Republicans on the House Energy and Commerce investigations panel in preparation for a hearing Nov. 17, when Energy Secretary Steven Chu is scheduled to testify about Solyndra’s $535 million federal loan guarantee. The company filed for bankruptcy in September.


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The U.S. Department of Energy asked Solyndra LLC to delay announcing it would fire workers until a day after last year s elections, according to a House Republican staff report citing advisers for an investor in the failed solar-panel maker. DOE continues to be cooperative...
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2011-29-15
 

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