Shows & Panels
- Accelerate and Streamline for Better Customer Service
- Ask the CIO
- The Big Data Dilemma
- Carrying On with Continuity of Operations
- Client Virtualization Solutions
- Data Protection in a Virtual World
- Expert Voices
- Federal Executive Forum
- Federal IT Challenge
- Federal Tech Talk
- Feds in the Cloud
- Health IT: A Policy Change Agent
- Improving Healthcare Outcomes through IT Policy
- IT Innovation in the New Era of Government
- Making Dollars And Sense Out of Data Center Consolidation
- Navigating the Private Cloud
- One Step to the Cloud, Two Steps Toward Innovation
- Path to FDCCI Compliance
- Take Command of Your Mobility Initiative
Shows & Panels
Judge OKs sale of former Solyndra headquarters
Thursday - 11/15/2012, 9:56pm EST
AP Business Writer
WILMINGTON, Del. (AP) - A Delaware bankruptcy judge has approved the sale of failed solar power company Solyndra's former headquarters to Seagate Technology for about $90 million.
The judge approved the sale Thursday.
Solyndra received a $528 million loan from the Obama administration to build the Fremont, Calif., headquarters that is 412,000 square feet.
Last month, the judge overruled government objections and approved Solyndra's bankruptcy exit plan, under which taxpayers will recover little if anything.
Government lawyers are appealing that ruling. It allows two private equity funds that control Solyndra to potentially reap hundreds of millions of dollars in tax breaks after Solyndra emerges from bankruptcy, using the company's net operating losses to offset future income.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)