Hopefully they would be thrown in jail for stealing the start up funds, before the doors ever opened.
“So we’ll make, say, solar panels. Things that herald a brighter, cleaner, more high-tech future.”
Then we’ll select an outdated technology, that’s more costly and less efficient.
Yes, it was in Michigan and controlled almost totally by the union.
There was no accountability at all for the workers. If they punched in, or someone punched them in, they were paid. It was up to supervision to figure out what , if anything, they did that day. All production records were fudged so bad that they had to have literally months of finished product stored in a warehouse, because they really had no idea what they had on hand.
If a line broke down they couldn't put people on another job, they had to send them home with full pay. Needless to say, things broke A LOT! I had witnessed workers walking behind machines and ripping every wire out of control panels.
Wildcat strikes were common, several every year. Most of the employees were drunk or high by lunch time, even supervision.
They are out of business now and even the factory that once had over 2,000 workers was torn down. It is to this day an empty lot.
Socialist Utopia bump for later.....
In 1999, Krugman was an economic advisor for Enron. Any business Krugman runs would follow the Enron model.
Well that’s simple they would run it into the ground after securing low interest loans from the government who lent them the money not based on a successful buisness model but rather on a feel good model(read green). They would then extract large bonuses and large paychecks from the failing company funneling some to congress critters who would stall any type of investigation into the shell game.