Memo serves as a road map to plot a question Republican plans to continue to pursue when U.s. Energy Secretary Steven Chu appears before the bipartisan Committee Thursday. Chu’s highly anticipated testimony of the fourth session of the Congress will at Fremont solar panel maker fails to date, and he will be questioned about his role in the federal loan guarantee of Solyndra’s and a controversial decision to restructure the loan terms earlier this year.
Solyndra offered $ 535 million loan guarantee from the Department of Energy in 2009, then filed for bankruptcy in September this year, throwing more than 1,000 employees out of work.
Solyndra’s Board of Directors brings Brian Harrison as CEO in July 2010, and Harrison were under pressure to cut costs and make the struggling company-positive cash flow. According to the memo, Solyndra executives information DOE in October 2010 Solyndra was in danger of running out of cash in November. On October 25, Harrison e-mail DOE he wants to go ahead with a plan to let employees coming LAYOFFS.
News Solyndra’s plans to shutter plants and lay off workers that long was first reported in the November 3 edition of the New York Times. Solyndra announces it will lay off about 40 full-time employees and contract workers and 150 closed the factory as it was in the original and the consolidation of manufacturing to a new facility was built with the help of federal loan guarantees.
“They do push very hard for us to continue the consolidation announcement to employees and vendors for November 3-Curiously they gave no reason for it,” said e-mail 30 October between Argonaut staff.