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    Who are the NERD fund donors Mr Snyder?

    Raise the curtain.


    By JGillman, Section News
    Posted on Tue Nov 13, 2012 at 12:57:02 PM EST
    Tags: Michigan, Taxes, Government, Crony Capitalism, A123 Systems, Azure Dynamics, United Solar Ovonics, Evergreen Solar, MEDC, Paybacks, Waste, Fraud, Causes (all tags)

    Its whats for dinner.

    Continually feeding us the economic benefit angle of government intervention in free markets, leaders love to pad the wallets of their best buds in industry. To do so requires a "cause" however,as simply jacking the public treasury for personal gain is abhorrent to those on BOTH sides of the political divide. Climate change has become one of the easiest causes to gather around, because the science is so ambiguous, its been simply easier for governments to act and perhaps err on the side of caution.

    So we promote and enhance business models that are designed to combat climate change with other peoples' money. Also included in these 'causes' is the argument that "new jobs are created" with the development of such technology.  Such was the case with A123 Systems:

    "In 2009, A123 received millions in federal and state funds, for the creation of jobs for Michiganders. Taxpayers  unwillingly, or unwittingly saw their paychecks shrink for promises never realized, and now they may have ultimately subsidized a technology transfer to a competing world power."
    Which in fact is now happening.

    But the cherry in the pie is something even more disturbing.  Adding insult to injury, the failure to produce promised results for taxpayer paid incentives and gratuity is now lining the pockets of the failed executives who apparently understand private public partnerships better than the rest of us.

    Its a place where only the taxpayer loses:

    "The top executives who presided over its failure - and supported the president's cap-and-tax initiatives early in his term - are likely to receive millions of dollars in bonuses, thanks to their scheming earlier this year and a bankruptcy court judge."
    But wait.. there's more.

    Below the fold.

    Michigan is apparently a comfortable home to such brazen mechanics, as A123 was neither the first or ONLY hand picked winner we can feast on this Thanksgiving.

    The particular feasting on the corpse of the constitution, continues with other failures associated with the green cause excuse. As the Capitol Confidential points out, failed green cronyism in Michigan includes A123 Systems, Azure Dynamics, United Solar Ovonics and Evergreen Solar:

    "Federal, state and local governments were willing to put up as much as $874 million for those four companies, but they still could not avoid bankruptcy. The government aid figure includes tax credits, loans, loan guarantees, grants and other financial incentives, according to The Heritage Foundation.

    The companies were part of President Barack Obama's effort to stimulate the economy. Gov. Granholm also trumpeted many of the failed companies as big-time job creators.

    "This week's developments show that an economic strategy we devised five years ago is continuing to produce results," Gov. Granholm said in a December 2009 speech announcing the Michigan companies receiving money from the federal stimulus program. "In that time, Michigan has invested more than $1 billion to help nurture the growth of green manufacturing in our state, from advanced batteries and electric vehicles to solar panels and wind turbines. ... We want Michigan to be a center for advanced manufacturing and the jobs that come with it." "

    Yeah.. Jobs.

    And a solution to all of nature's problems. (Namely us)

    Though the science has been considered questionable, the cause is a well managed "eco" (thus public concern) reason to proceed with government funding.  It provides "something for everyone", or rather an element of "watering all lawns" with its promise of employment boosts, through technology and direct job creation. And 4 of 8 major failures premised on this PARTICULAR (eco) cause are in our state.

    And then there are the schools.

    ...  To be continued.

    < What Am I Missing? | Easter Egghead Pale Pastels >

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    Bait Pile!!! (none / 0) (#1)
    by Corinthian Scales on Thu Nov 15, 2012 at 08:18:21 AM EST
    Has to be Michigan...

    Startup electric vehicle automaker Fisker Automotive Inc. is to announce today it will build a technical center in the Midwest, and said it is considering Michigan.

    The move is aimed at bringing the company's engineers closer to the heart of the auto industry. Michigan also is home to many battery plants and electric-vehicle engineers.


    Only a state such as Michigan, where its declining 2010 majority of elected class who were gifted every lever of power in Lansing, could be so dumb as to call passing out $50 million to failed policy while calling it a savings, would such soil be a welcoming home to Fisker Automotive.

    It's a deal that's fit for a King.

    We will Barry you!

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