Romney-Backed Solar Firm Flops, Dems Pounce

Source: Darren Samuelsohn / Politico

A Massachusetts solar company to which Mitt Romney personally delivered a $1.5 million loan when he was governor has gone belly up, leaving him vulnerable to the same “picking winners and losers” charges that he’s been lobbing at President Barack Obama over Solyndra.

The president’s reelection campaign wasted no time noting Romney’s support for Lowell-based Konarka Technologies, which announced Friday it had filed for bankruptcy protection with plans to lay off more than 80 workers and liquidate its assets.

The filing came on the heels of Romney’s unannounced visit last week to Solyndra’s Silicon Valley headquarters, where he accused the Obama administration of a conflict of interest and poor judgment in approving Solyndra’s $535 million Energy Department loan guarantee.

In January 2003, just less than three weeks into his term as governor, Romney handed a check to Konarka executives during a news conference that also involved giving out subsidies to four other renewable energy companies. One of the other winners announced that day — Evergreen Solar — has already undercut Romney’s Solyndra attacks by filing last year for bankruptcy protection.

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