Skip to comments.$200 million green-tech subsidy results in -100 jobs
Posted on 10/04/2011 10:32:34 AM PDT by Nachum
What happens when job-stimulus funds get spent on a company that reduces its workforce? It looks like Barack Obama and Energy Secretary Stephen Chu made another bad bet in 2009, sinking $200 million into the non-profit National Renewable Energy Laboratory in Golden, Colorado. NREL isnt going under, but its cutting back staff after getting a big taxpayer subsidy from Porkulus:
President Barack Obamas green jobs initiatives suffered another major blow late Monday, as the nonprofit National Renewable Energy Lab in Golden, Colorado, announced a plan to lay off roughly 10 percent of its staff through a voluntary buy-out plan.
According to the Denver Post, the lab plans to eliminate between 100 and 150 of its 1,350 jobs. The Obama administration supported the NREL in 2009 with roughly $200 million in stimulus grants. Energy Secretary Stephen Chu visited Golden in May 2009 to promote the NREL as a beneficiary of those funds.
Are you getting the impression that a visit from Obama or Chu might be the kiss of death for green-tech companies? Obama shows up to promote Solyndra and the company sinks into bankruptcy, taking over a half-billion taxpayer dollars with it. Chu personally delivers the jobs-stimulus check to NREL, which then starts trimming jobs.
(Excerpt) Read more at hotair.com ...
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If dollars are all it took to create a marketable green energy source, America ought to be looking like the Emerald Isles.
There’s no way to make a dead cat jump, no matter how hard you hurl it down.
No problem. The Obama policies are still working just fine. Whatever jobs remain at that company can be counted as “saved” jobs.
thats a high return for the money considering some stimulas created -3 million jobs
It won’t be long before we’ll all be shoveling dollars into wheelbarrows to take to the local store to buy a loaf of bread.
And how much did these companies donate back?
“And how much did these companies donate back?”
not QUITE the right question.....
“How much of those funds are in offshore banks...in accounts “anonymously” ‘Bammy’s and in anonymously in accounts to whom the tazxpayers funds were disbursed”.
That’s right. And when you come out of the store finding the dollars sitting on the sidewalk and the wheelbarrow stolen because it’s worth more than the dollars.