Posted on 10/20/2009 3:00:33 AM PDT by suspects
If you invested $76 million in a company only to watch as it lost millions and its stock plunged from $19 a share to $1.83, you’d call that a financial disaster, right?
You know what they call it in the Patrick administration? A public relations problem. Because it’s not their money. It’s yours.
The company is Evergreen Solar, a darling of the Al Gore/environut crowd. Not surprisingly, Deval Patrick is a big fan, too.
Did it matter that the company has never earned a penny? That, as The Boston Globe-Democrat reported, “Evergreen has lost $308 million since its founding in 1994, including $84.6 million in the first six months of this year?”
Not to the governor. Once in office, he threw millions in grants, loans, land and the like at Evergreen to create jobs while fighting global warming.
The good news: Global temperatures have gone down since Patrick was elected.
The bad news: So has job creation in Massachusetts.
The one thing that’s gone up is massive government spending on - to use the popular new phrase - “saving or creating” jobs. And it’s true: The number of jobs at Evergreen has doubled to about 700 full-time positions since Patrick got state funding for them.
But divide those 350 new jobs into the approximately $70 million (and climbing) the state’s put in and that’s $200,000 per job - $200K ponied up by taxpayers “enjoying” the highest Massachusetts jobless rate since the Ford administration.
Such a deal!
And if you like what Patrick is doing with green jobs, you’ll love his life sciences portfolio. If you missed it, Patrick and Beacon Hill liberals passed a $1 billion taxpayer “investment” in the life sciences industry. You know - those struggling little start-ups like...
(Excerpt) Read more at bostonherald.com ...
You see, where are the rinks owners going to get the capital for the solar panels for the offset of Cap and Tax for all the juice the Compressors use to keep the ice cold?
Remember, 90% increase forcasted in the electric rates.
Rinks will close, their business model can't substain it....
When they say green, think Yellow, as in cowardly!
So come 2010, do you think we will be able to UNDO all this crapola being passed now?
I don’t.
bump
Thanks for posting this. I have been wary of investing in solar energy companies, and will definitely remove ESLR from the list of possibilities.
I don't think we can either.
One of their main goals is the continued existence of organized labor unions in this country. By the time we are able to change the parameters and fight back, they will have already done what is necessary to guarantee that they will not only remain alive, they will thrive and grow more powerful. The Dems have pumped billions of our tax dollars into the unions' dead-weight health care plans. In the Baucus bill, they will force insurance companies to also contribute to those Cadillac plans.
At some point in the near future I’m going to mount a modest array of panels on the roof to power emergency communications equipment. I was looking at Evergreen panels but no more.
I think of yellow as in pissing away our money.
“...pissing away our money.”
That too.
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