Solyndra Spectacle Will Continue without CEO Harrison
You knew it wasn't good news for solar energy company Solyndra when the FBI came knocking on Solyndra's doors. And you knew that it was particularly bad when CEO Brian Harrison and chief financial officer W.G. Stover took the Fifth when testifying before the House of Representatives. Harrison resigned last Friday, although the news of his resignation became known today.
According to an AP article published in the Huffington Post, "Solyndra Inc. said in papers filed in Delaware bankruptcy court Wednesday that Brian Harrison resigned last Friday. The company said Harrison's resignation was contemplated even before the company sought bankruptcy protection."
There may be some who wonder whether his resignation might have been contemplated before his company went through the $535 loan guaranteed by the Department of Energy. And there may be others who wonder whether his resignation might have been contemplated before Solyndra went through an estimated $1 billion of venture capital.
The Daily Mail had this to say about the resignation: "Solyndra's president and CEO has called it quits, weeks after he stonewalled lawmakers when questioned about the struggling company." The article indicates that Solyndra has requested the bankruptcy court to hire R. Todd Neilson while it tries to find a buyer. The Solyndra spectacle will continue for some time to come and politics will play as much a role as economics in pointing the blame for what went wrong with Solyndra.