http://money.cnn.com/2012/05/28/technology/38-studios/index.htm?iid=Popular
the article reads just like another obama green job energy failure...plus, i'm finding there are definite patterns with all of these gov't backed failures.......
1.....company contacts a gov't official or vice verse about a gov't loan/investment
2.....gov't official starts political ball rolling with or without vetting the company
3.....head politician ignores advice for or against the loan/investment
4.....gov't then approves loan/investment with or without objections
5.....company receives loan/investment
6.....shortly after receiving loan investment, company goes under
7.....politicians start blaming one another & the rest is history.......................
it seems so simple & started with $75 million in loan guarantees which has ballooned up to $112 million &, no way to recoup it.......i'm sure curt schilling isn't hurting (wasn't his money) &, the politicians aren't hurting (wasn't their money)....................
however, there are 400 people we know of hurting & more so because they didn't receive pay since may 1st...
so, their plight is a little different then most---they're already a month in the red & hopefully, they'll qualify for unemployment compensation...400 people hurting & how many of them have family that depend on them?
the above has a ripple effect on our economy....
1.....the taxpayers are out $112 million
2.....the 400 people will not be paying weekly/by weekly taxes so the gov't (from the feds on down) can't
collect those taxes
3.....the 400 people will not be patronizing the store & services nearly as much as they did when they were
employed
4.....those stores & services are actually losing business
5.....the gov't (from the feds on down) can't collect taxes on the lost business
6.....the gov't (from the feds on down) must either reduce/cut services to the public, layoff their own people,
raise taxes on the rest of the people or, borrow more money to keep afloat..............
regardless of which way it goes, in the end, it's the taxpayer that gets screwed along with the 400 who not only lost their jobs, they lost their healthcare coverage also (they all might end up in the public welfare system).
it's really not enough that nearly all the board of directors have resigned or won't be reinstated, they should go to jail........
yes, the above sounds like it came directly from obama...give the people something the majority of them don't want, tell them it's best for them, let the project fail, find somebody else to blame....
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