How Solyndra would have worked, if it had worked

As you recall, Solyndra was a "green energy," Obama-led boondoggle that put the taxpayers in hock for more than $550 billion dollars. The company folded because it had no business plan worth the name, relied heavily (well, almost totally) on federal subsidies to begin with and, most importantly, did not have a marketable product (thin-film solar cells). That the failed companies were managed by Obama cronies - and they made millions no matter that the company flopped - is not beside the point. It is the point.

But let us suppose as a thought experiment that Solyndra had actually produced a useful product. How would it have gained a revenue stream? There is a real-world answer and it is provided by examining another famous government project, Goverment General Motors and its abortive attempt to produce a commercially viable hybrid auto, the Chevy Volt.

Commercial flop = government success

The Chevy Volt flops—Patrick Michaels - NYPOST.com:

By most accounts, “Government Motors” has stuck with the Volt mainly to please the Obama administration, which still owns a third of its stock in the wake of the 2009 government “rescue” of the company. But just how badly is the effort faring? Well, consider the 1,529 sold in December.

More than a third of those were fleet sales to corporations. None of these were the traditional large-fleet purchasers, i.e. Hertz, Avis and the other big rental companies. They were more like Verizon and General Electric — with GE having committed to buying 12,000 and having already purchased unspecified “hundreds,” with continued “daily” deliveries, as The Wall Street Journal reported recently.

Then there are the direct taxpayer buys. Fifty to New York City. The city of Deland, Fla., brags about buying five with an Energy Department grant. The federal General Services Administration has bought 101 so far, but President Obama has ordered it to procure only hybrid or high-mileage vehicles by 2015. (The taxpayers buy about 60,000 cars a year for GSA.

This is a textbook example of crony capitalism:

A. General Electric, of course, is Obama's pet corporation because its head, Jeffrey Immelt, is Obama's croniest of crony capitalists. So no wonder GE has "committed" to buying 12,000 Volts. They won't of course, but they'll find another way to scratch the backs of the robber barons in Washington.

B. "Then there are the direct taxpayer buys." I am sure you saw that municipal governments get federal money to buy Volts. Understand what this means: the government owns a third of GM, which makes it a truly major shareholder if not the largest shareholder. The government takes money (taxes) from you and me and then gives it to, say, Deland, Fla., so it can buy cars from a company the government controls. And Obama has ordered the GSA basically to buy nothing else until the end of his presumptive second term.

"Why didn't I think of that?"

Well, Obama said he wanted to spread the wealth around. The Mafia could not do it better.

But the whole "green" car racket is a scam, a gigantic corporate-welfare machine.

See also, "Buy A Honda, Kill a Polar Bear."

And today, this: "Bankrupt Solyndra seeking to pay bonuses."

Now seems an unlikely time for handing out bonuses at bankrupt Solyndra LLC, but that’s the plan of company attorneys intending to dole out up to a half-million dollars to persuade key employees to stay put.

Nearly two dozen Solyndra employees could receive bonuses ranging from $10,000 to $50,000 each under a proposal filed by Solyndra’s attorneys in U.S. Bankruptcy Court in Delaware.

That means that you and I are paying those bonuses. The looting continues.

Related: "Detroit unsure over the future of green cars." "But the economics are not attractive yet for the average consumer." What?