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Friday, December 2, 2011

Another Kanjorski Fail at Abound Solar ?

While watching Fox tonight there was a brief mention of Abound Solar for most folks Abound Solar will be just another failed Solar panel firm propped up with hundreds of millions from the Obama administration. If speculation that Abound may be facing bankruptcy turns out to be true this will not be the first time the Kanjorski family has profited from a failed recipient of Government funding. For the residents of NEPA, Abound Solar is the brief resting place of Russell Kanjorski, nephew of former Congressman Paul Kanjorski. Russell Kanjorski, along with several other family members ran Cornerstone Technologies LLC another failed firm which had received millions of federal dollars before declaring bankruptcy in 2006. So for some here in NEPA this story will be a topic of some interest.

After hearing Abound Solar mentioned on Fox I became curious and began to google around to see if there was any merits to the impression left with me that Abound was on the way out taking with it millions more of tax payers money. I discovered that the top 3 executives of Abound Solar including Russell Kanjorski have recently left Abound. So far that is about all I have discovered that can be considered factual but there are rumors and given the recent rash of failed solar firms that have been supported by our tax dollars it would not surprise me to learn that Kanjorski jumped ship just in the nick of time. If Abound is close to failing will they try to remain afloat until after the elections in 12 to avoid giving the DOE and Obama another black eye. There is another item of interest concerning Abound. In the  400 million plus DOE loan guarantee to Abound, it seems that another Obama bundler is a very large investor in Abound, billionaire Pat Stryker has given or raised tens of thousands to and for the Obama campaign

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