{"id":11294,"date":"2011-09-23T10:55:37","date_gmt":"2011-09-23T14:55:37","guid":{"rendered":"http:\/\/quotulatiousness.ca\/blog\/?p=11294"},"modified":"2011-09-23T11:17:57","modified_gmt":"2011-09-23T15:17:57","slug":"solyndra-they-doubled-down-just-like-some-chump-who-lost-his-stake-at-the-vegas-blackjack-tables","status":"publish","type":"post","link":"https:\/\/quotulatiousness.ca\/blog\/2011\/09\/23\/solyndra-they-doubled-down-just-like-some-chump-who-lost-his-stake-at-the-vegas-blackjack-tables\/","title":{"rendered":"Solyndra: &#8220;They doubled down, just like some chump who lost his stake at the Vegas blackjack tables&#8221;"},"content":{"rendered":"<p><a href=\"http:\/\/www.theatlantic.com\/business\/archive\/2011\/09\/how-did-solyndra-spend-all-that-money\/245528\/#.TnxyEVsFEh0.twitter\" target=\"_blank\">Megan McArdle<\/a> tries to figure out how Solyndra managed to spend nearly a billion dollars in two years:<\/p>\n<blockquote>\n<p>By my count, Since September 2009, they borrowed $535 million from us to get their second fab up and running, raised $219 million in a private equity offering, got $175 million from issuing convertible promissory notes after their IPO was pulled, received $75 million in the last-ditch round where the DOE allowed their seniority to be subordinated, and maybe got a loan from a different bank. By the time they filed bankruptcy in August, my understanding is that they were basically out of cash.<\/p>\n<p>The <em>Washington Post<\/em>&#8216;s rather scathing new account, full of employees saying that post-loan, Solyndra started spending money like it was about to be discontinued, says the new facility for which we loaned them all that money cost $344 million to build. So it seems that in the space of two years, Solyndra managed to spend $344 million building a factory and $660 million . . . doing what?<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Megan McArdle tries to figure out how Solyndra managed to spend nearly a billion dollars in two years: By my count, Since September 2009, they borrowed $535 million from us to get their second fab up and running, raised $219 million in a private equity offering, got $175 million from issuing convertible promissory notes after [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25,84,53,15],"tags":[640,484,194],"class_list":["post-11294","post","type-post","status-publish","format-standard","hentry","category-economics","category-government","category-politics","category-technology","tag-alternativeenergy","tag-competition","tag-fraud"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p2hpV6-2Wa","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/11294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/comments?post=11294"}],"version-history":[{"count":2,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/11294\/revisions"}],"predecessor-version":[{"id":11296,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/11294\/revisions\/11296"}],"wp:attachment":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media?parent=11294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/categories?post=11294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/tags?post=11294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}