"Evergreen Solar Inc. will eliminate 800 jobs in Massachusetts and shut its new factory at the former military base in Devens, just two years after it opened the massive facility to great fanfare and with about $58 million in taxpayer subsidies. The plant closing is also likely to revive the debate over the use of state funds to help private companies under economic development programs.....
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Related: Massachusetts' Lost Decade of Jobs
Take the money and... sun?
"Evergreen Solar trades on smaller market; Marlborough company aims to restructure, stages reverse stock split" by Erin Ailworth, Globe Staff / January 5, 2011
The debt-laden business has struggled against aggressive competition in China, a poor economy, and increasingly lackluster government support for the country’s solar industry....
HOW DARE they say LACKLUSTER SUPPORT!
Related: Earth Day: Let the $un $hine In
Evergreen, which already has some operations in China, said in late 2009 that it expected to shift additional assembly operations overseas.
And those would qualify as manufacturing jobs, wouldn't they?
Related: Evergreen Grows Tall in China
It hasn’t yet, but company officials say the move could happen soon. In its most recent financial filings, the company reported a $27.2 million loss in the quarter that ended Oct. 2. JPMorgan Chase & Co. analyst Christopher Blansett, who follows Evergreen, said he believes the company is taking the necessary steps to stay in business....
They have never made a profit. Maybe it is time for them to cease operations.
Michael McCarthy, Evergreen Solar’s director of investor relations and government affairs, said the company is looking to “substantially reduce’’ debt and interest expenses to lower its costs and solar panel prices....
Ever notice it is BANKS and BORROWING at the bottom of nearly everything?
“It’s a very competitive marketplace,’’ said McCarthy, “and the company has to look at what it can do to bring its product to a level of price competitiveness.’’
And guess who loses out again, Amurkn worker?
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Also see: Executive Payday: Evergreen Excesses
Yup, that's where all your tax loot went, taxpayers.
The sunlight must have blinded you to the fraud.
Hollywood still has its hand out:
"Filmmakers seeking $82m in tax breaks" by Associated Press / January 12, 2011
Film companies working in Massachusetts have applied for $82.4 million in state tax credits for movies and other productions shot during 2009. The bulk of the tax credits, almost 93 percent, went to feature films. Among the films shot in Massachusetts in 2009 were “The Fighter,’’ which chronicles the boxing career of Lowell native Micky Ward and “The Town,’’ which focused on a Boston bank heist crew. A Department of Revenue report released yesterday said Massachusetts paid an estimated $100 million during the 2010 fiscal year for film tax credits issued in 2009 and for those that had been issued in previous years but had not yet been used. That’s down from the $130 million paid out in fiscal 2009.
This as schools are closed and services slashed.
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Related: The Hollywood Heist of Massachusetts
The Massachusetts Oscars
They won the ward for galling greed.
MSM Monitor Movie Matinee
I never go to the theater anymore.
Also see:
Massachusetts Sales Tax Swindle
Just wanted you to see where all the money is going.
Weather update: Already over a foot and it is snowing even harder now.
