The late Steve Jobs demonstrated how one person’s innovation and creativity can launch a company and an industry of previously unimagined products.
Apple Computers was based in the Bay Area, not far from Solyndra, the bankrupt solar panel company for which taxpayers face a $528 million loss.
Unlike Solyndra, Steve Jobs didn’t get government loan guarantees for his first Apple computer, or for the Mac, iPod, iPhone or iPad.
With Solyndra’s bankruptcy, surely September w Read More
Beware of a company that claims it can make widgets for $10 each, sell them for $8 a piece, and then “make up the losses on volume.” No banker or venture capitalist would invest in such a foolhardy scheme. Read More
"If you guys think this is a bad idea, I need to unwind the W[est] W[ing] QUICKLY.” So said Vice President Joe Biden’s then-chief of staff Ron Klain in an email about President Barack Obama’s impending $535 million loan guarantee to California solar panel manufacturer Solyndra, on March 7, 2009. In fact, some officials in the Obama administration thought the Solyndra loan was a lousy idea. “This deal is NOT ready for prime time,” a White House budget analyst emailed three days later. Read More
The International Energy Agency is releasing 60 million barrels of oil — including 30 million barrels from U.S. reserves — into the world market over the next month in an attempt to tamp down rising gas prices.
The action will drain roughly 4 percent of the country's Strategic Petroleum Reserve, which Energy Secretary Steven Chu says is at a "historically high level" with 727 million barrels of oil. Read More