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Discussion Starter #1
I read a pretty good book by John Carreyrou titled "Bad Blood". It is about a 19 year old Stanford University drop out that starts a blood testing company that grew in value to $9 billion dollars but was a con. The technology it claimed to have was a lie. The company ended up flopping. But best of all it happened locally and I have visited two of the now empty buildings her company once occupied.

If you should happen to read this book these are two of the addresses they mention. There are two or three more that I have to search out but that will be another day.

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Prestigious locations, very helpful in perpetuating a fraud.
Elime, you're very good at finding America's abandoned dreams. You visited Fremon't's abandoned Solyndra facility, right? Their groundwater have that wonderfull "optical coupling agent" showing up yet at the tap?
Actually Solyndra's technology was sound and their demise was fiscal in nature. Sorry to see them go.
 

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There's always another ENRON just around the corner.
 

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Elime; I believe I watched a 60 minutes type show about that a week or two ago. They had some big companies or agencies duped until an/some employees figured out something was very wrong and alerted folks.
 

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Discussion Starter #6 (Edited)
Prestigious locations, very helpful in perpetuating a fraud.
Elime, you're very good at finding America's abandoned dreams. You visited Fremon't's abandoned Solyndra facility, right? Their groundwater have that wonderfull "optical coupling agent" showing up yet at the tap?
Actually Solyndra's technology was sound and their demise was fiscal in nature. Sorry to see them go.
The story I heard was the owner of Solyndra donated $100K to the Obama election campaign. After Obama got elected he had a dump truck load of money printed up and passed it out -- the owner of Solyndra got between $500 million and $750 million and then they went out of business. Of course the upper echelons had golden parachutes......a special thanks to our Commander and Chief.

Elime; I believe I watched a 60 minutes type show about that a week or two ago. They had some big companies or agencies duped until an/some employees figured out something was very wrong and alerted folks.
The list of the suckered is unbelievable. The people that saw through it were threatened by her lawyer with financial ruin if they disclosed anything bad against the company. If this were fiction I would think it was a corny plot and no way that many people could be taken advantage of, but its not fiction, it is true! Shockingly true. Supposedly she is worth zero now but I have a feeling she stashed a pile somewhere and when everything is settled she will disappear and lead a luxurious quite life somewhere really nice.

Another view of 1701 Page Mill Road
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One day Hollywood will make a movie (if they haven't already) of Elizabeth Holmes. How she/the company got away with this for so long is quite astonishing. Let me not do my taxes one year and "the man" would be all over me threatening to take my home, kids and even disable the sprinkler system. :D
 

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Some years back a friend who was a financial planner tried to interest me in an investment opportunity he himself had highly invested in. I was within inches of sinking some of our life savings into the investment because it was showing fabulous gains. Fortunately my Toyota dealer offered me a great deal to trade in my Tacoma and buy a new 4 Runner so I put the cash in the new SUV instead. My buddy lost his ass in Bernie Madoff's scam Ponzi Scheme and will never recover the losses he endures to this day. My late father in law lost a tidy sum when he was highly invested in Prudential Life Insurance and they got busted for the scam crap they were pulling.
These people spend hours upon hours developing their get rich quick schemes and the only ones who ever get rich are them and more often than not they never do get caught. We were gifted with a pair of "My Pillows" last Christmas. They are supposed to be the greatest thing since sliced bread according to the relentless advertisements on every TV channel. What complete BS they really are and after just a few weeks of sleeping on them both me and my wife tossed them in the trash. A fool and his money will soon be parted!

GaryL
 

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but you still have the 4runner, i bet it will outlast us both.
 

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The story I heard was the owner of Solyndra donated $100K to the Obama election campaign. After Obama got elected he had a dump truck load of money printed up and passed it out -- the owner of Solyndra got between $500 million and $750 million and then they went out of business. Of course the upper echelons had golden parachutes......a special thanks to our Commander and Chief.
I know we should not discuss political issues here,(a policy that seems to be enforced with some discrimination) but when they are brought up I think it is important to introduce some facts into the conversation.

First of all, 100k is a drop in the bucket in todays's presidential campaigns and had no affect on the Obama administrations efforts to promote alternate forms of energy.

Secondly, in the U.S.A the "Commander in Chief" cannot "print up and pass out" money. Solyndra received a loan of 535 million as part of the American Recovery and Reinvestment Act of 2009 which was passed by Congress. That is a drop in the bucket compared to the 4 BILLION dollars in subsidies given to oil companies.

Third, Solyndra was not a con job. They had a legitimate product but they failed due to intense competition and probably poor management. Those things do happen and sometimes businesses(even hotels and casinos) file for bankruptcy in the U.S.A
 

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Discussion Starter #12
I went to Solyndra on one of the days they held the bankruptcy auction. I walked in confidently without registering and managed to look around. A lot of brand new stuff for sale much of which I had no idea what I was looking at. During one of the auctions I heard "SOLD $29 thousand dollars". As I looked up the auctioneer was shaking his head in disbelief. I don't know what it was that got sold but who ever got it got a hell of a deal and there were several more lined up for sale. I wonder how much of that "whatever it was thing" was paid for by the half billion dollars Obama handed to the boss of Solyndra? No matter. Its all chump change.

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Discussion Starter #13
Changing the subject slightly, I saw on the news last night (7-25-'18) that Tesla is valued higher than GM at $53 billion vs $42 billion but Tesla has never shown a profit. GM on the other hand showed an $8 billion profit. How does a company survive and stay in business without showing a profit? How does it get so valuable without showing a profit? I don't know. (Since reading "Bad Blood" I have become very suspicious of things.)

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I know we should not discuss political issues here,(a policy that seems to be enforced with some discrimination) but when they are brought up I think it is important to introduce some facts into the conversation.

First of all, 100k is a drop in the bucket in todays's presidential campaigns and had no affect on the Obama administrations efforts to promote alternate forms of energy.

Secondly, in the U.S.A the "Commander in Chief" cannot "print up and pass out" money. Solyndra received a loan of 535 million as part of the American Recovery and Reinvestment Act of 2009 which was passed by Congress. That is a drop in the bucket compared to the 4 BILLION dollars in subsidies given to oil companies.

Third, Solyndra was not a con job. They had a legitimate product but they failed due to intense competition and probably poor management. Those things do happen and sometimes businesses(even hotels and casinos) file for bankruptcy in the U.S.A
Nice to see a somewhat opposing view minus the vindictiveness we often get in threads of this nature. I am by no means well versed in High Finance and legal ethics however I am quite opinionated and sure do have one regarding Solyndra. $535 Million or as Elime states, Half a billion is no drop in the bucket. I consider how Solyndra handled this ordeal to be nothing short of High Crimes, took the money and ran and still never paid off their creditors with my money. I liken this to the same BS tactic taken by our current Attorney General who accepted the position in the Trump administration only to completely recuse himself from all things involving Russia just two days later. He stuck it right up Trumps behind and here we sit today still embroiled in the BS Russia Collusion Special Counsel.

As Elime states, $29,000 for a machine or item that likely cost 10 times that much and I would not be a bit surprised if it and lots of other similar items went to pals of the Solyndra's top brass or pals of our politicians. That's the same as when our military exits a war torn country and leaves their heavy equipment behind such as big trucks, dozers and Humvees only to have them used against us in the immediate future. They claim it was too expensive to bring it all back. I use this term all the time, "Follow the Money" and I will bet dollars to donuts that the money ends up in the hands of close friends or relatives who make these decisions. We have been being Fleeced from every direction for a long time and more often than you might think from right here at home by well connected and very wealthy scumbags. Try as he may but Trump will never drain the swamp because as fast as it drains from the bottom it is refilling from the top and we are the idiots who continue to elect and reelect these swamp critters. Just look at this NJ Senator Menendez who narrowly escaped conviction for some real nasty shit and the idiots in NJ will most certainly reelect him in November. No doubt about it that Money and Power are some very corruptive forces in our politics. 20 Trillion in debt and you would not want to see how many big rig trucks it would take to haul that much cash palletized in hundred dollar bills. Just drops in the bucket I suppose!

GaryL
 
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