Did a failing solar company receive federal funds with help from George Miller?

October 13, 2011 8:45 am · 118 comments


Claycord Congressman George Miller is in the middle of a scandal, and it has to do with the same company that is currently installing solar panels at 51 different sites for the Mount Diablo Unified School District.

Click on the video above to watch the report, which has to do with Sunpower, Congressman George Miller, and his son, George Miller IV.

101 CLAYCORD.com October 13, 2011 at 9:26 PM

For the record, I’m a blogger, not a journalist.

Mayor

102 MDUSD Board Watcher October 13, 2011 at 9:32 PM

Would be interesting to know how much The Gary and Pedersen collaborated with the Millers on this.

Didn’t Gary at one time say he had a direct line into Miller?

103 ConcordAnon October 13, 2011 at 9:52 PM

Now, folks its high time we get rid of Miller and his ilk! Either by vote, impeachment or arrest! Time to get rid of the that scumbag and his connected friends!!

104 Mr. Anon E. Mouse October 13, 2011 at 10:18 PM

So is it a scandal or a non-scandal? Not that Miller is an angel. Though it wouldn’t be the first time FauxNews has stretched the non-truth.
You have a far right channel screaming the sky is falling.
On the far left you have a site saying it’s a nice clear day out.

THIS is why I hate politics. Can we just have another civil war and get on with rebuilding the country. I know this terrific document we can base the new government on. It has all but fallen out of favor and few of the people’s representatives that swore allegiance to it remember what it says.

“WE THE PEOPLE OF THE UNITED STATES…”

105 Publius October 13, 2011 at 10:21 PM

Follow the ball my liberal friends, I will connect the dots for you.

Go ahead and discount Fox News if you want. I will keep it brief.

Everyone knows King George the III is a big government, organized labor stooge. His son Prince George the IV has complete access to daddy.Over the past 35 years King George has specialized in spending tax dollars to secure votes. Prince George is the regent of this free ice cream and makes his living doling out the goodies to groups that support his father. Not much of scandal here, just politicians being politicians. Besides Prince George has a family feed. Right?

The scandal is simple-

1. The measure C solar project is restricted to Unions only! A Project Labor Agreement was signed and all trades are to be union. 80% of the construction industry was eliminated from the bidding process and the over all cost went up 15%! $50 million wasted befor the first imported panel was installed. The new Solar Plant and the $1.2 billion secured loan is also exclusively for union workers. Classic George move!

2. Sun Power is a company that cannot exist without government hand outs and therefore is an unstable company. The Solar business model is flawed. In a time when the common man is struggling would anyone risk that amount of money on a flawed business? I don’t know if this is a scandal but it is extremeley stupid.

3. The panels are imported. I know for a fact that Sun Power is waiting for glass. The glass is on a boat from China! Discount Fox News all you want but this is a fact.

George the IV used his access to his father to secure a loan to an unstable company and got paid by that company for his efforts. The unions get a nice pay back, once again at the tax payers expense. Sun Power pays big slaries to the top brass and out sources jobs and buys foreign made goods. On second thought this is not a scandal its just Democrats doing what they do best………….

106 Don Perata October 13, 2011 at 10:24 PM

Miller will just lay low & keep repeating that there’s nothing to it until the whole thing blows over and folks forget the matter. It works too.

107 The (Night) Stocker October 13, 2011 at 11:26 PM

Looks like I picked the wrong week to stop sniffing glue.

Re: my post #97, not that anyone really cares, but for the record what I meant was SunPower’s EV exceeds MC by $6M.

Still eagerly awaiting Ms. Vorderbrueggen’s spirited defense of SPWR’s crappy financials.

108 Randome Task October 14, 2011 at 1:32 AM

thank you ….thank you i knew you were out there tear down these garbage spillers and loot grubbin ass kissers drag em down and put em in jail dont care if it is a legal loop hole or not you are in and office to do a job for the people who pay you… not line your pockets with the blood of our tax dollars. take em down the road and out of town it starts with one and dont matter who it is these guys think they are untouchable because they steal our tax money every day and have high friends well those friends will turn on the low lifes as soon as the pieces start to fall just like any other criminal …..good work guys i see it working all ready …..WE THE PEOPLE

109 Anon October 14, 2011 at 7:35 AM

George Miller, was the administrative assistant to the Mayor of San Francisco,an infamous coke-head (the Mayor not Miller) . Millers father passed and George inherited the job. First thing I remember was channel 7 videoing him on vacation in the Bahamas paid for by the taxpayers.

Now we find a son who is a lobbyist.

The question is: Have the Millers ever worked in their lives?

110 Nepostism is Alive & Well October 14, 2011 at 7:54 AM

Frankly, I’m saddened, but not surprised.

@ Professor – “understand that Halliburton, Chaney, etc. have nothing to do with this scandal” – quite true. Yet another example of this type of behavior by a powerful politician

111 Rico October 14, 2011 at 7:58 AM

Concordanon,
You counter a FOX news report with a mediamatters analysis? Thats funny.

112 And now to Lisa October 14, 2011 at 8:53 AM

Lisa Vorderbruggen write nice press releases for George Miller

113 Night Stocker October 14, 2011 at 10:06 AM

Dear Lisa,

I know you’re diligently poring through SunPower’s income statement and balance sheets, but let me take this opportunity to apologize for being a source of confusion…let this be a lesson when trying to type on a cell phone. If SPWR’s EV exceeded Market Cap by $6M as I typed, that actually wouldn’t be that bad. Not a good sign, but not horrible, either.

So let me clarify: $800M (MC) + $820M (Debt) – $245M (Cash) = $1.375B (EV).

Rounding it to $1.4B, that means their EV exceeds MC by $600M, that’s $600,000,000…or SIX HUNDRED MILLION DOLLARS.

Go ask the financial experts at Media Matters if those kind of numbers are good. And maybe ask them how many companies on such footing, and under NORMAL circumstances (i.e. sans political muscle) would EVER secure a loan (or gurantee) of $1.2 Billion.

114 Calculated Move October 14, 2011 at 11:03 AM

@90 – Stocker…When the DOE approved the $1.2 million guarantee, the financial picture of Sunpower declined since its second quarterly financial report 10Q. The company has acquired significantly more leverage beyond obtaining the $1.2 billion debt. Form 8-K filings indicate a new $275 million revolving loan with Credit Aricole Corp., $200 Million in a Letter of Credit facility with Deutsche Bank as of 9/27/11, and renewing $771 Million in lines of credit in August 2011. The company obviously needs debt to fund its working capital, and this is a very bad sign. Further, the CEO/CFO made a press release on 10/3/11 stating that they will “revise 2011 revenue and earnings outlook” where these downward adjustments will be announced on 11/3/11 during Sunpower’s 3rd quarter earnings press release.

115 brianinmtz October 14, 2011 at 11:18 AM

I am tired of politicians supporting their own interests instead of the voters interests.
Sad thing is the elected officials are out of touch with reality and are more worried about taking care of themselves instead of the people who voted for them
Let’s make change happen!!!
http://johnfitzgeraldforcongress.com/

116 @mdsud board watcher October 14, 2011 at 11:23 AM

It’s the unionized teachers at CVHS that have a direct line to George Miller, not Gary Eberhart.

117 @Mr. Anon E. Mouse October 14, 2011 at 11:41 AM

The fact that other media are not picking up on this story indicates that it’s a Faux News scandal, made up to appeal to their constituency.

The Contra Costa Times never met a local scandal it didn’t try to blow out of proportion to boost readership. If there were even a single grain of truth to it, the paper would be all over this story because they love bashing MDUSD in general and its solar power project in particular. Instead, one of their reporters is posting here saying there’s nothing to it.

118 Night Stocker October 14, 2011 at 1:26 PM

@ Calc Move,

Bad sign. Exactly. This company is burning through cash and piling on the debt. Not all debt is bad, but these guys are circling the drain. This stock is heavily shorted and the CEO already got a nice $11M “bonus” when he dumped his shares right as the partial takeover by the French company was closed. If Vegas put the over/under for their declaring bankruptcy at 24 months, I’d take the under.

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