Solyndra Caught Destroying Millions of Dollars in Assets

Posted: Jan 20, 2012 3:38 PM

"Ahhh, fuhget about it." Thus seems to be the sentiment of Solyndra, the now-bankrupt California solar company that, thanks to government (read: taxpayer) "investment," now owes the American public half a billion dollars. They don't seem to be too worried about that, however, as CBS caught them destroying millions of dollars worth of brand new parts that they apparently didn't try too hard to re-sell:


So why is a bankrupt company that owes a fortune to creditors, including American taxpayers, throwing away millions of dollars worth of assets?

Solyndra is not commenting. But court documents reveal the company received permission from the bankruptcy trustee to abandon the high grade glass, the court agreeing that it was of “inconsequential value” because the cost of storing them exceeds their value.

An employee for Heritage Global Partners, the company in charge of selling Solyndra’s assets, told CBS 5 they conducted an exhaustive search for buyers but no one wanted them.

But how exhaustive was that search? The tubes were never included on the list of Solyndra assets put up for sale at two auctions last year.

If they were, David Lucky told CBS 5 he would have bought them. “We certainly would have bid on them, yes,” Lucky said.

Lucky owns several large warehouses near Las Vegas. He buys and then resells manufacturing equipment and components all the time.

Whatever--it's just a couple million dollars, right?