The Solyndra Story


If you’re interested in reading a bit of background on Solyndra now that it’s become a political football, the LA Times has a pretty good piece in today’s paper:

To grasp the saga of Solyndra’s rapid rise and even faster fall, one has to understand the dazzling appeal of its product. The company’s advancement in solar power was hailed as an invention so brilliant that it blinded everyone to the truth: Solyndra never had much of a chance in a fast-changing market.

“It was revolutionary,” said Walter Bailey, a former Macquarie Capital investment banker who specialized in green technology and visited Solyndra in 2008. “You had some of the smartest money in the world getting behind it. It was a real company with a huge factory and an extremely unique product.

“The only problem,” said Bailey, now a senior partner at boutique investment bank Focus Capital in New York, “was that it never penciled out.”

There’s nothing in this piece about the politics of Solyndra, just a straight-ahead explanation of who they were, why their technology was so dazzling, and why they failed. It’s worth a read if you’re not already up on all this.

FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2019 demands.

We Recommend

Latest

Sign up for our newsletters

Subscribe and we'll send Mother Jones straight to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate

We have a new comment system! We are now using Coral, from Vox Media, for comments on all new articles. We'd love your feedback.