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Emac's Bottom Line

What to Expect From Solyndra Hearing

Emac's Bottom LineFOXBusiness

There are few business journalists or Washington, D.C., journalists as smart or as intrepid as FOX Business's Rich Edson. He is watching out for you and your money. Here's what Rich found out about what you can expect from Congress's hearing this Friday on the Solyndra scandal, the solar company that got $535 million in federal loan guarantees even though it was on the bring.

The Energy and Commerce Committee has given Rich a  heads up of details just posted to the committees site:

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An email from Solyndras counsel from September 10 assuring the committee the CEO would answer the Committee's questions & and will appear without any need to issue a subpoena.

A memo to lawmakers in July touting financial successes, including revenues (that) grew from $6 million in 2008 to $100 million in 2009 to $140 million in 2010. For 2011, revenues are projected to nearly double again. Note here that this is before expenses and costs, which drove the company into the red.

A June memo entitled Exceeding Expectations about the supposed success story that was Solyndra.

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