"no plans to reconsider a $5 million loan"
Related: Slow Saturday Special: Evergreen Turns Brown
Evergreen Grows Tall in China
And they wonder why we are furious out here?
Yeah, just keep THROWING MONEY AWAY at that TRAITOROUS LOSER!!!!
"Despite job loss, state OK with Evergreen loan" by Erin Ailworth, Globe Staff | November 10, 2009
Officials at the state-backed economic group MassDevelopment said they have no plans to reconsider a $5 million loan to Evergreen Solar, despite the company’s decision last week to move the assembly of its solar panels from Devens to China next year.
Such a shift may compromise Evergreen’s ability to create 170 “new jobs,’’ as promised in a loan summary distributed to MassDevelopment board members. The board, which voted in September to lend Evergreen money, is scheduled to meet today but an agenda shows members do not intend to discuss the company.
State Senator Mark Montigny expressed outrage, saying taxpayer money shouldn’t be given to a private company. “MassDevelopment needs to immediately rescind the loan,’’ said Montigny, chair of the state Senate Committee on Bonding, Capital Expenditures, and State Assets. “If the marketplace can’t support this company, why should the taxpayer?’’
Because our tax loot is for the taking by special interests and well-connected, agenda-pushing corporations?
**********************
Assembling solar panels in China, where manufacturing costs are cheaper, likely means fewer jobs at Devens, according to Evergreen.
Yeah, and all that cardboard you are recycling, America?
Coming back your way to recycle again!
Company executives have not said how many local jobs they expect to lose. However, in a statement e-mailed to the Globe, the company said it “made a significant job commitment to the State . . . we have honored that commitment and will continue to do so....’’
Are you NOT SICK of being LIED TO by SELF-SERVING SUITS, America?
Marlborough-based Evergreen received significant financial support from the state when deciding where to locate the manufacturing facility that is now at the former Fort Devens Army base. The Patrick administration sealed the deal with a $76 million offer that included grants, incentives, land, loans, and other aid.
Yeah, we KNOW the STORY already: TAXPAYERS are OUT $81 MILLION DOLLARS!
The company ultimately turned down $17.5 million of that aid - including a $5 million MassDevelopment loan - because it thought it could borrow more from outside lenders.
So they wanted to go EVEN DEEPER INTO DEBT, huh? This company that NEVER DID ANYTHING except LOSE MONEY -- to the tune of $308 MILLION so far (about to be $5 million more, too)!!!
When those efforts failed, the company asked MassDevelopment for a new $5 million loan.
The money - approved in September but not yet released - comes out of MassDevelopment’s Emerging Technology Fund, established to help technology companies starting or expanding in Massachusetts to purchase a facility or equipment. Evergreen intends to use the money for wafer, cell, and panel fabrication equipment it already purchased.
So they are JUST PAYING DEBTS with it -- to YOU-KNOW-WHO, right?!
Robert Culver, chief executive of MassDevelopment, which handled much of the public financial aid that helped Evergreen build its first large-scale manufacturing facility here several years ago, said Evergreen’s loan is guaranteed by the company’s equipment. So if Evergreen doesn’t meet its requirements, MassDevelopment could choose to sell that equipment, which Culver said is worth “many times’’ the value of the loan.
But if NO ONE WANTS TO BUY IT what is it worth?
I'll tell you: NOTHING!
Ian Bowles, secretary of the state’s Executive Office of Energy and Environmental Affairs, defended the support of the state’s emerging solar industry. From 2007 to 2008, the number of jobs in the sector doubled, from 1,000 to 2,000, and were on pace to grow sharply again this year, he said. “As we move through these challenging economic times, we are confident that the solar industry, including Evergreen, will be an important part of the clean energy future for our state,’’ Bowles said.
I'm almost to the point where I don't want to even read what GOVERNMENT LIARS say! This guy and his LYING GIBBERISH!!!!
JPMorgan Chase & Co. analyst Christopher Blansett questioned how deeply the shift of Evergreen’s panel assembly to China would cut into the company’s Massachusetts workforce. Solar panel assembly, he said, is a very “automated’’ process.
Translation: There are NOT MANY JOBS to BEGIN WITH!!!
“It’s going to have the least amount of job loss of anything they could outsource,’’ Blansett said, adding that the company is keeping its core operations - the making of silicon wafers - in Massachusetts. “That’s really the key linchpin that Evergreen is built around,’’ he explained. “They can make wafers cheaper than anybody.’’
Evergreen’s success has been challenged by plunging prices for solar panels, and it disclosed the relocation of some work to China last week in a filing of its earnings for the third quarter of 2009. The company lost $167 million through the first nine months of this year, compared with losses of $33.6 million for the same period last year.
And OVER $300 MILLION for the last 15 years!!!!!
So, it makes sense that Evergreen is moving work to China, according to Blansett....
And, Blansett said, the United States will continue to see companies move into other countries - unless investors start offering emerging clean technology companies substantial financing, politicians support those firms with policies that insulate them from competition, and consumers buy US-made products even if they cost more.
Oh, yeah, the UNEMPLOYED and HOURLY-CUTBACKS are going to SPEND MORE while the RICH PARTY!!!! What an INSULT!!!!!!!!!!
Related: Green Jobs Going Global
And SO MUCH for the FREE MARKET, huh, readers?
I'd say EVERGREEN has been PROTECTED ENOUGH!!!!
Time to let it burn, baby, burn!!!!
Greg Torres, president of the research organization MassINC, said deciding when to give companies tax breaks, incentives, and grants is a tough call, especially when forces outside the state’s control could cause the company to expand elsewhere.
Then WE NEED NOT be giving them TAXPAYER $$$$!!!
“We need to take a tougher look at all of these,’’ he said, asking, “Are they targeted? Are they specific about what we are looking for in return? . . . [and is there a mechanism to] evaluate whether we got what we expected to get?’’
Ummm, you know what, LET'S SAVE the TAXPAYERS some $$$ and NOT DO ANY of it at ALL!!!
Also see: Not Making It in Massachusetts
Game Report: Mass. Loses to Michigan
That is not making me feel an better.
Who even cares about the FART-MISTING LOSERS anyway?
"Alternative fuels aren’t boosting state economy yet" by Robert Gavin, Globe Staff | November 11, 2009
Despite all the talk of its promise, alternative energy is unlikely to become a driver of the Massachusetts and New England economy, at least for the next several years, according to the nonprofit research group New England Economic Partnership.
Alternative energy, which encompasses a variety of technologies aimed at replacing fossil fuels and reducing pollution, is growing, but it still accounts for only a fraction - about 0.7 percent - of jobs in both Massachusetts and New England, the partnership’s economists said yesterday. Even with incentives from state and federal governments, the sector is likely to remain a small part of the overall economy for some time.
MSM Manufacturing an Economic Recovery
MSM Manufacturing an Economic Recovery (Part II)
Economic Recovery Missing Massachusetts
Not Making It in Massachusetts
Slow Saturday Special: He's Got High Hopes
Now you will understand what a s***-thrower is this BG shill:
Massachusetts, for example, has about 27,000 jobs related to alternative energy, which are often called “green jobs.’’ Manufacturing, in comparison, accounts for about 270,000 of the state’s more than 3 million jobs.
Yup, MANUFACTURING OUTNUMBERS the fart-misting losers by 10-to-1!
Then WHY all the FOCUS on such AGENDA-PUSHING INTERES...
Oh, right!!!!! The Globe's here!!!!
“The green economy can’t be relied on as the next single growth engine for our region,’’ said Ross Gittell, a University of New Hampshire professor and forecaster for the partnership.
Still,
Translation: get ready for some shit being slung.
Gittell said, the sector could provide opportunities for the region, particularly if tied to other technology industries. The interest in alternative energy has grown in recent years as a way to reduce dependence on foreign oil and cut carbon dioxide emissions, which contribute to global warming.
PFFFFFFFFFFFFTTT!
Related: October 2009 Climate Summary
To what?
Massachusetts’ secretary of energy and environmental affairs, Ian Bowles, acknowledged that alternative energy is an emerging industry that “will take some time before it reaches scale.’’
“But the environmental imperative to reduce carbon emissions will mean trillions of dollars of energy infrastructure getting replaced over the coming decades, creating large markets, both locally and nationally, for Massachusetts companies,’’ he said. “Clean energy is an industry of the future for Massachusetts, and the future is coming faster than we think.’’
Okay, that is the SECOND TIME he has SHOVELED SUCH FART-MISTING S*** this morning -- and I can't breathe!!!!!
