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    Who are the NERD fund donors Mr Snyder?

    Raise the curtain.

    And Republicans Support This?

    By JGillman, Section News
    Posted on Thu Feb 23, 2012 at 10:58:01 AM EST
    Tags: Michigan, MEDC, MEGA, Grants, Energy, Republicans, Upton, Hoogendyk, Solar, Picking Winners, Ovianics, Moral Authority, Taxpayer Abuse, Hypocrisy (all tags)

    Well, its just time to break out the old cartoon again.

    A Republican, Rick Snyder, is the father of the MEDC.  It was his baby, and lest anyone forget, it was created under the Republican Engler administration.  The MEDC, which has yet to produce a model that definitively demonstrates taking taxpayer funds, then giving those funds to hand picked "winners" produces net economic growth in our state.  The MEDC which essentially could be called a taxpayer funded venture capital scam.

    The MEDC's MEGA, The state of Michigan through Tax Breaks, and the DOE,  which gave us that "success story" A123 systems.:

    "When A123 Systems announced it was opening its lithium-ion battery manufacturing plant in Livonia in September 2010, then Gov. Jennifer Granholm wrote about it on the Huffington Post calling it "a Recovery Act success story."

    But there have been troubles for A123 Systems in the 17 months since then despite a lot of state and federal aid to prop it up.

    The state of Michigan gave it a $100 million MEGA tax credit that is contingent on the company creating 300 jobs by the end of 2016. A123 Systems also received another $41 million in tax breaks and subsidies from the state. The Department of Energy awarded A123 Systems a $249.1 million grant.

    But the company has not been able to meet its own projections. For instance, on March 28, 2011 in an SEC filing, the company projected total revenue between $210 million to $225 million for 2011. Its latest report shows they had just $118 million of total revenue through the first three quarters of 2011 and reported a net loss of $172 million."

    Yeah, that's a winner.

    In fact doing so well, taxpayers should be happy to know that the top brass in the company thanks them for providing a generous raise.

    But wait, I was talking about Republicans right? Right.  - Below the fold.

    Republicans sometimes need to be reminded that profiteering on the backs of Michigan's Joe six pack and Jane the wino may not be such a good thing.

    By golly, who among those that thought giving the earnings of a Michigan gas and oil industry worker to the inefficient competition, was an appropriate act?  


    Oh snap, there is a bunch of them. "Our Gang" apparently includes among senators Stabenow and Levin, Dave Camp, Fred Upton, Pete Hoekstra, Thad McCotter, Candice Miller, and Mike Rogers.

    Hanging around with Spanky, and Buckwheat sure is a bad influence.

    That letter heartily supporting the use of taxpayer funds for the energy of the future!  Suniva, United Solar, Xtreme Power Solutions, and Clairvoyant. The latter ringing of a certain irony.  The Jobs they were supposed to create? :

    "Clairvoyant (751 direct jobs), Evergreen Solar (596 direct jobs), GlobalWatt (500 direct jobs), Suniva (500 direct jobs), United Solar Evonics (700 direct jobs) all failed to produce the jobs the state projected.

    For example, GlobalWatt was evicted from its Saginaw headquarters for nonpayment of rent. United Solar Evonics had paused construction of its Battle Creek project in 2009, according to its most recent annual SEC filing. Evergreen Solar filed for bankruptcy."

    Saw THAT coming.

    None of the hype, not ANY of it came to fruition.  Just jump on board and reach across the aisle suckers. "We believe these applications are worthy of serious consideration by the department of energy" translates only too well into "we really don't give a rats a$$ about our fiduciary responsibility to the people who clothe, house, and feed us, and have done so for far too long."


    But its not just energy grants and special dispensation, but it is also special allocation to communities to "foster development" or make safe, etc..

    As I sit on the Grand Traverse County Board of commissioners, I can tell you most of them don't care either. As long as that money comes into the community, no matter the ultimate consequence. I should note, the GTC board is an 8 to 1 Republican dominated board. Go to 17:06 at this link, and watch the Republicans at work.

    Wasn't that fun?

    And just remember, those budding politicos grow up to be great big politicos with bigger eyes and appetites for venture play with the dollars you so eagerly send from your paycheck.

    But I digress.

    They know better, but they still do it.  That letter referenced above my divertere, with all the names of Michigan Legislators? IT was brought up here (the conversation starting at 14:00 roughly, and at about 16:00, Fred Upton is asked about the letter) and Upton dances a bit.  He also forgot that he supported the same kind of thing as Solyndra. That support which drives home a very important point.  

    How can a Republican challenge an incredible failure like Solyndra, if he has promoted such things in the past? Where is the moral authority?  How does one avoid being a hypocrite in this situation and become a champion to set things straight?

    Its unlikely, Undoable.

    And further in that video clip, the club for growth is cited as calling out Upton on the letter.  A recent Bankruptcy by one of the firms drives the point home even further:

    "This week the Auburn Hills, Mich.-based Energy Conversion Devices filed for Chapter 11 bankruptcy and said it will sell off its main subsidiary, United Solar Ovonics.

    That is the same United Solar Ovonics that Upton -- along with 13 other Michigan lawmakers -- urged the Department of Energy to approve funding assistance for back in 2009 through the same loan program that funded Solyndra.

    Yesterday, the powerful anti-tax group Club for Growth said that Upton's previous support for United Solar and his current investigation of Solyndra offer a perfect of example of how Upton has decided to become a conservative when it suits him."

    This is what we are talking about.

    And the article also brings up the primary challenge by Jack Hoogendyk in 2010, where he beat Hoogendyk by outspending by 23 times that of Hoogendyk's $64,000 kitty.

    Upton will face a more difficult primary this year, as the energy house of cards collapses, and Republicans such as Upton must face the inevitable question why they would have fallen into such traps with Democrats who have no concept of business models, and how badly government picks its winners.  Hoogendyk is challenging him once again.

    Republicans need to learn from these mistakes, and those who make them.  I wish Jack well.  Upton needs to retire.

    The donkey in drag costume is no longer sufficient, as the lack of conservative traits in any Republican becomes vetted more so quickly than before.  Consistency and principle guided actions will needed to drive more true conservatives into positions that manage our finite resources.

    In two years we don't want to have to repeat this article, and find we have been swindled even more.

    By our own.

    < Throwing A Bone | Congratulations Barack, Dad Will Just Stay Home >

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    Save us tea party...you're our only hope (none / 0) (#1)
    by Rougman on Thu Feb 23, 2012 at 11:58:30 AM EST
    We need a new breed of voter because we will never be able to produce a new breed of politician in sufficient numbers without applying leverage.  

    Politicians in general will always do what they have to do to survive in office, even if that means ignoring economic truths.  The perks are too great, the fame too intoxicating, the power too complete (and corrupting) to allow for the average citizen representative to eschew a good smelling frying pan of smoked local pork products--and the votes it might motivate.  

    Given that, I believe we need citizens who are willing to draw a line in the sand because politicians will not do so on their own.  The tea party is our only hope--a large yet loose coalition of voters finally willing to look at voting records (or published philosophies of first time office seekers) rather than spending election cycle after election cycle concentrating on nothing more than the letter behind a candidate's name.

    Where did I put my wings? (none / 0) (#2)
    by Corinthian Scales on Thu Feb 23, 2012 at 12:02:42 PM EST
    Oh!  There they are.  Phfeeew!  One really needs them to stay above the bullsh!t that the Party of R produces.

    Yannow, I'm really all hunky-dory with the idea that the guy who torpedoed the Republican Right Revolution in the 90s with his created group of "Main Street" liberal turds finally getting his RINO hide tossed to the curb.  It's waaaaay long overdue for Freddy to be gone from the gummint trough with one of his job killing federally mandated curlicue light bulbs firmly screwed up his arse on the way out the door.  Fred and his wife can go play with his Whirlpool trust fund and impress his liberal west side of the state friends.  Sports Illustrated has better Upton boobs to talk about anyway.

    However, I have to take issue with the following.

    By golly, who among those that thought giving the earnings of a Michigan gas and oil industry worker to the inefficient competition, was an appropriate act?  


    Oh snap, there is a bunch of them. "Our Gang" apparently includes among senators Stabenow and Levin, Dave Camp, Fred Upton, Pete Hoekstra, Thad McCotter, Candice Miller, and Mike Rogers.

    Hanging around with Spanky, and Buckwheat sure is a bad influence.

    So, can someone, anyone please 'splain this or this email for everyone?

    No, I'm not looking for walking on water, so everyone can save that crutch for leaning on themselves, but Jack really needs to explain his "grassroots" efforts for "one of the gang" named Pete TARP$tra hanging with Stabenow.

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