Solyndra slows expansion plans

The New York Times is reporting that Solyndra Corp., Fremont, Calif., has decided to close a solar-panel production plant and lay off workers.

"Just seven weeks ago, Solyndra opened Fab 2, a $733 million factory in Fremont, Calif., to make its high-tech solar panels. The new plant was supposed to be the first phase of a rapid expansion of the company," the Times reported.

"Instead, Solyndra has decided to shutter the old plant and postpone plans to expand Fab 2, which was built with a $535 million federal loan guarantee."

New York Times article