I learned of a search application tied to the Climate Gate e-mails at a site named Ecowho.com. Naturally my investigative reporter instincts kicked in and I had to try it out. The first word I entered was alien, hoping for the hidden UFO files. I came up with nothing. They must not have been released yet.
Not giving up I wondered if they knew in advance about Obama’s Solyndra fiasco. The e-mails are ten years old and the Solydra solar cell manufacturing scheme wasn’t mentioned. For my third try I just typed in solar cell — and I hit pay-dirt.
First up was this: “1265.txt:AstroPower [13] solar cells and panels”
Using insights derived from years of searching the internet I clicked on the 1265.txt link and saw the message in it’s entirety. It was from the Institute for Global Futures Research (IGFR).
P.O. Box 263E, Earlville, QLD 4870, Australia. It was a pitch for socially responsible investment, Green Power, just like Solyndra but an earlier version. Here is the part that mentions solar cells with the footnotes removed.
“Since 1995 the DJSGI has outperformed the global equity index.
The share price of Ballard Power Systems, manufacturers of new fuel
cells, for example, rose 229% in the first six months of 2000.”
“Other promising companies in the DJSGI include:
Fuel Cell Energy, Inc.
Calpine power generation – combined cycle gas and geothermal
Vestas Wind Systems
AstroPower solar cells and panels”
I had never heard of AstroPower before and did a Google search. This is what I found from February of 2004: AstroPower Declares Bankruptcy, Sells Assets.
“The horizons have dramatically darkened for what was once a bright light in the solar photovoltaic (PV) market. AstroPower, which has been plagued by financial difficulty since early last year, has filed for bankruptcy and reached an agreement to sell “certain” of its U.S. business assets to industrial heavyweight, GE Energy.”
“The proceeds from the sale will be used to repay some of the Company’s outstanding obligations,” said Carl H. Young III, interim CEO of AstroPower. “We anticipate that the proceeds will be sufficient to allow at least a modest return to the Company’s unsecured creditors, although it is unlikely that there will be any return to the Company’s shareholders.”
GE Energy one of President Obama’s favorites. I felt that there was more to this story and a little more digging in order. Sure enough there was more. In March of 2009 we find: SEC settles with ex AstroPower CEO Allen Barnett and CFO Thomas Stiner on financial fraud charges.
“Barnett and Stiner agreed to permanent injunctions; payment of civil penalties in the amount of $65,000 and $40,000, respectively; and other sanctions.”
“…made material misstatements, engaged in fraudulent accounting practices, and signed filings made with the Commission that they knew, or were reckless in not knowing, contained materially false and misleading financial statements. The Commission alleged that at the direction of Barnett and Stiner, and in contravention of Generally Accepted Accounting Principles…”
These guys got of easy, I expect the guilty parties in Solyndra will receive the same treatment. In this same e-mail is a thinly veiled pro socialistic screed — part of which reads:
“Democratic regimes are now seen to be more stable than autocratic
regimes where the rule of law, rather than the whim of autocrats,
prevails. This is important for foreign investment interests.
Democratic stability reduces uncertainty and allows more accurate
assessment of risks etc. In this way transnational capital may have
made some contribution to expanding democracy.”
“But this is democracy at the national level. Transnational capital has
little or no interest in democracy at the community level, or real
democracy at the global level.”
“For numerous reasons, we may not wish to talk in terms of Revolution
today, but we may find that the events of 1992-2020 will be recorded
as Revolution in the historical texts of 2070.”
I should look further into all this but Investigative Reporting is Hard.