Mitt Romney's big green flop

Jason C.

Posting #1

Politics

“Mitt Romney's big green flop,” by Greg Turner
Boston Herald, 2 June 12

436 words

Konkarka, a solar-panel production company located in Massachusetts, has filed bankruptcy, ceased production and laid off all of its workers. At the time of bankruptcy, the company had $113,541 left; they gave more than $700,000 to their former employees. The company was supported by Republican candidate, Mitt Romney, during his term as Massachusetts governor. Romney loaned the company $1.5 million, but he criticized Obama's $500,000 investment in Solyndra, another solar-panel company – an action he described as “crony capitalism.” MA Senator Marc Pacheco (D-Taunton) described the affair as “fair” and that Romney should have been prepared for criticisms of his own actions.

In conclusion, Konkarka filed bankruptcy because they didn't have enough funds to continue operations, and had to pay severance to its laid off employees. The company had been supported by Mitt Romney during his time as MA governer with a $1.5 loan. The candidate had castigated Obama for his $500,000 investment in Solyndra, while, ironically, he was also guilty of the same action.

In my opinion, it was stupid of Romney to criticize Obama for a thing he had also done. It's sad that the company had become bankrupt, especially because they advocated the use of green-energy that really benefits the planet. I hope Obama's investment won't be a waste as well.