Solyndra

Rush shared a story about Solyndra: Obama warned not to visit Solyndra

A Silicon Valley investor and senior administration officials warned the White House to reconsider having President Obama visit a solar start-up company because of its mounting financial problems, saying he might be embarrassed later.

“A number of us are concerned that the president is visiting Solyndra,” California investor and Obama fundraiser Steve Westly wrote to Obama senior adviser Valerie Jarrett in May 2010. “Many of us believe the company’s cost structure will make it difficult for them to survive long term. . . . I just want to help protect the president from anything that could result in negative or unfair press.”

The memo was among several copies of e-mails released Monday morning by Democrats on the House Energy and Commerce Committee, which is investigating a government loan to the now-bankrupt company.

Obama’s Energy Department had provided Solyndra with a $535 million government-backed loan in 2009 and wanted to highlight the investment to show taxpayers how their stimulus dollars had been put to work. Westly said that if Obama proceeded with the visit, he should be careful about touting the company’s future.

“If it’s too late to change/postpone the meeting, the president should be careful about unrealistic/optimistic forecasts that could haunt him in the next 18 months if Solyndra hits the wall, files for bankruptcy, etc.”