“Didn’t we do this yesterday? Don’t mess with me, porkchop! What day is this?" Bill Murray-Groundhog Day
Well ... Here we go again .... As if the lessons of 38 Special weren't still clear, like an Anvil from the Acme Corporation
From the Fine Folks @ The Providence Journal ....
By Kate Bramson
PROVIDENCE, R.I. — An early-stage company, rTerra PV Solutions, won final approval Thursday from a subcommittee of the Rhode Island Commerce Corporation for a $300,000 loan from the state’s Renewable Energy Fund.
The company, which is headquartered in Middletown, expects its flexible mounting system for solar panels can lower material and labor costs for installing solar panels.
The loan was approved by a unanimous vote of the corporation’s access to capital subcommittee, according to Oscar T. “Tim” Hebert, a member of both the corporation’s board of directors and its subcommittee. The subcommittee met in an executive session with a company executive Thursday morning to go over issues that arose at the last Commerce Corporation meeting, which was Jan. 27, Hebert said. The committee was satisfied that company executives are committed to investing in the company and remaining here in Rhode Island, Hebert said.
The loan will be paid out of the state’s Renewable Energy Fund, which is funded by a renewable energy surcharge of $0.0003 per kilowatt hour on electricity used by customers in Rhode Island. The company had applied to the fund’s “early-stage commercialization program,” which is intended to encourage the development of “emerging technologies in the renewable energy space.”
In a Providence Journal article dated January 28,
"Loan repayment would trigger once the company has positive cash flow for six consecutive months, according to the Commerce Corporation. The company forecasts that would be by July 1, 2015."
And if that never happens? Besides, its Solar Power ... What could possibly go wrong? Ask the Feds about Solyndra ... or the State of Massachusetts re: Evergreen Power ... I've listed a link below from Greentech Media which will give you a complete picture of the "Green Space"
Government should not be loaning\investing money to private industry, period. We continue, as a nation, to privatize success and socialize failure through the use of taxpayer funded "investments" in private ventures. This is (very) thinly disguised crony capitalism.
So I repeat my mantra from the early days of 38 Special ... No Equity, No Board Seat, No Personal Guarantee .... No Future
Some Important Links ....
2013 RULES AND REGULATIONS FOR THE RENEWABLE ENERGY DEVELOPMENT FUND PROGRAMS
GreenTech Media: Failed Solar Companies
EcoRI News Article
January 28 Article - Providence Journal
February 6 Article - Providence Journal
One of my favorite sources for local news is GoLocalProv.com ... I'm there constantly. Like any pathological relationship, however, I am spurred to emotional highs and lows ... They are a great source of local reporting ... They are a wonderful example of new media ... Equally inspiring is GoLoco's local entrepreneurial flava'. And while their Who's Hot and Who's Not political column has the potential to keep me awake Friday nights, GoLoco has proven to be a wonderful example of what can happen when the Media "Gets Their Mission" ...
(Full Disclosure: GoLoco was kind enough to post an article I penned last month on the "State of Rhode Island Talk Radio")
With all of that in mind, I find myself repulsed by their choice of "Company of the Year"....My initial response, as posted there ...
I would enjoy hearing what all of you have to say ...
"Twin Rivers has been nothing less than an economic disaster for Rhode Island ... Hundreds of millions of dollars are drained from the economy of Rhode Island annually, all to feed the beast of Rhode Island State Government .. Rhode Islanders effectively subsidized the purchase of the Biloxi Casino ... And with the promise of Massachusetts competition on the horizon, watch this "hometown" company gradually wean themselves off of their Lil Rhody Dependency within the next 2-3 years .... Probably to move their offices, and their Rhode Island blood profits, elsewhere ...
Government should never profit from games of chance, foisted upon an undereducated audience, with the imprimatur of government approval. This is a highly regressive tax, targeted at the poor .... A suckers bet, the house, statistically always wins
Think about this ... If Rhode Island State Government raised taxes hundreds of millions of dollars a year, the electorate, would be, I dare say, peeved? But let them play a cool video game, and its entertainment?
Imagine the effect on the Rhode Island economy if only a fraction of that money had been spent on local businesses ... But the biggest travesty is, given the vacuum our leaders make decisions in, we will never even know ...
As Rudy says ... Sleep Tite Vo Disland"
The John DePetro Imbroglio
Just days after Mr. DePetro made, at the very least, hateful comments about women protesting a Raimondo "Campaign" Appearance ... A "Grass Roots", "Spontaneous" (although Spontaneous has never had such great production values before ...) campaign has risen to rid the Rhode Island Media Landscape of the ever controversial DePetro ...
God Bless'em ... It's about time we saw some decent political theater round here ... Social Activism doesn't have to be so darned earnest all the time
Sooooo .... Let's watch the Candidates do their best to "Never Let A Good Crisis Go To Waste ...."
Gina ... Let's be blunt ... she's not exactly making history among Union, or Women Voters. Any opportunity to appear sympathetic (read pander) to the same, simply can't be missed .... Folks, if you ever had any questions about political loyalty, they were answered here ... A frequent guest of the DePetro Show, she never missed an opportunity to indulge in John's Sloppy Wet Media Kisses ...
Fung? Given the Gender Gap that even the most liberal feel good RINO experiences ... summoned his most potent outrage for a forum that he too, has routinely supped at ... I'm wondering if he did a push poll before his brave condemnation ...
Block? This is the biggest disappointment ... Ken Block has gone through a significant political maturation process over the last 2 years ... He does not engage in the "Student Council I'm Gonna Get Rid of Homework" Rhetoric that has been the hallmark of the Fung Campaign ... And he has consistently called for banishing the social issues that typically became the source of outrage porn fodder in the Lil Rhody Gubernatorial Campaigns of the past. I expect more subtlety from him ... Perhaps appearing on Dan Yorke's show to discuss the issue ...
And of course, late to the party as always .. the Regrettable Mark "Automatic" Smiley, of Gun Raffle Fame ... Someone woke up Mr Smiley from his political slumber and pointed out that the RIGOP would be the odd man out, if they did not jump on the Boycott Bandwagon. So jump he did ... appearing as Tone Deaf as ever ... (BTW, where is the usually indefatigable (and Former PRO Employee) Doreen Costa? Genetically unable to avoid a photographic device, she seems to be MIA ...
To My Point:
Individuals have free choice to listen to, or participate in a show like DePetro's, at their sole discretion. However, public officials refusing access to an entire media outlet is a dangerous precedent ... Using the power of government, which was granted to them by the electorate, to effectively quiet the media? Whether it be in the name of some feigned interest in defending the honor of womanhood, or more likely, in limiting media insight into Rhody's Scandal Du Jour ... Obscene ... Boycott DePetro? No problemo ... Effectively shut down WPRO, probably the only state wide media outlet that continually challenges the status quo? ... Disgusting ...The Urinal, of course, can't wait to pile on their media (and advertising do re mi $$) nemesis. And the late, band wagon reaction of Smiley/Fung is typical ... They are reacting out of political fear ... Believe me, there is no courage being displayed on either side of the issue.
The RINO In The Room ...
Conservatives & Libertarians are again being called upon to vote for a Republican, merely because they aren't Linc Chafee or Frank Caprio .... For too many years, in a manner bearing striking similarities to the treatment of African American Democrats, Conservatives & Libertarians have been asked to check their principles at the door, because, well, its better than the alternative. I believe differently ... Embracing another MeToo Bush Republican is nothing more than a continued prop to the status quo. That propping up a thoroughly corrupted, financially, economically & morally bankrupt Rhode Island represents progress against an enemy ingrained in RIThink is somehow ennoblingIt is time to let Rhode Island Go ...The efforts of a well meaning few, (If Black is the new White, is the Tea Party the new Operation Clean Government? Anyone for a march down Route 95?) to provide continued economic support to a moocher\looter constituency that lives off their efforts, in fact relies upon them to provide a host organism, does nothing but delay the inevitable ... a complete economic\social collapse.Slavery to a failed system ... in this case the Rhode Island Economy\"Way of Life" ... is nothing more than a delusional belief that a few individuals can continue to simultaneously support, and at the same time reform a society so selfish, so narcissistic that one is reminded of a woman's love for an abusive boyfriend.In a manner not unlike a whore's ... your desire to save them is neither understood, or desired. Trust me, they are not grateful.How else to explain the leftward swing in last months primary elections? The complete denial over the pension abyss that lies before us? An ignorance of even the most fundamental economic principles?A Governor who insists that Rhode Island shows a surplus, despite a multi-billion dollar unfunded pension liability?The display of political might of a Union Culture that will inevitably bankrupt us?The Greed of a Corporate Culture that will use the last of our discretionary funds to bankroll a risky high tech gaming venture ... a move that brings to mind the vision of a late night, desperate gambler, playing his last few chips on Red?It is time to let Rhode Island Go ...Liberals, Unions, the Welfare Industrial Complex, when quizzed about the source of their funding, inevitably point to the existence a vague Wealthy Class, from whom an unimaginable fount of riches emanates. When they are forced (usually under some form of psychological duress) to admit that there may be some limitations to this wealth, they invariably stumble away, muttering that the wealth will simply BE there ... This blind faith that you, the producer, will always be there to support them needs to be shaken badly ...It is time to let Rhode Island Go ...For those of you with options, invest elsewhere ...starve them of the capital they need ... your tax dollars are their wealth ... Among the few private sector employees remaining? Recognize the coming storm and act accordingly ... Companies unfortunate enough to own/rent property in Providence have begun to see the "New, Progressive" Tax Structure already ... Own a business here? Take what little time is left to diversify ... seek new revenue streams elsewhere ... Pay those taxes due, when due ... As seen in the aftermath of the floods, Rhode Island's cash flow is so poor that even a delay of a few weeks threw the bureaucracy into a near death spiral.
Simply put, the Producers who cling to the notion that Rhode Island can somehow be saved merely continue to enable the behavior of the looters\moochers who cannot grasp the notion that wealth needs to be created, not distributed ... that the success of the few can improve the lives of many ... that productivity & innovation are to be cherished, not derided ... and as a Society, we cannot continue to blindly trust that the actions of a few will continue to support the many, who choose to sit on life's sidelines, waiting for their handout
A Response To Richard, aka Those Who Believe Public Employee Unions Serve A Noble Purpose
I actually agree that within the world of free, private enterprise Labor Unions serve a useful purpose ... Financial organizations merge, organize to gain clout in the marketplace, and economies of scale ... Producers of raw materials do the same thing ... Labor is entitled, actually required, in the free market, to organize, collectively .... However, if one component (labor, capital, or raw materials) renders the entire product non-competitive in the marketplace, the entire enterprise fails
Public Employee Unions pervert the entire system, however .. In order for the free market system to work, ultimately, some enterprises MUST fail. The government, because of its seemingly limitless ability to tax, has until now, never been allowed to fail. There is no responsibility to the marketplace for the final product. There is no competition. Couple that with the ability of public employee unions to effectively vote in their own boss (See Lincoln Chafee), the system begins to act in favor of its employees, not the customer\shareholder\stakeholder (The Citizen Taxpayer) In a State like Rhode Island, where a disproportionate share of the populace draws sustenance from the State, whether it be employee, or charity case, the interests of the state take precedence over the interests of the Citizen.
Not only is the condition terminal financially, it also tends to provoke a complete breakdown in the quality of the goods and services delivered, in this case, by the State of Rhode Island
Apt comparisons can be drawn between the collapse of government services in the waning days of the Soviet Union to the intolerable conditions here in Lil Rhody ... the poor school systems, the crumbling infrastructure, the inept law enforcement (see Providence) ...
So Richard, I thank your Unions everyday ... Everyday that I pay for a private education for my children, while my confiscatory taxes feed an incompetent public school system (that is clearly more focused on the quality of teacher compensation, than the teachers themselves) I thanked the Unions last year when I blew out a tire in late spring on Hope Street, in a pothole the size of CF ... I thank the Unions for a Law Enforcement system that forces citizens to give up their drivers license if they are late on the seemingly endless series of taxes, but encourages illegal aliens to drive on my rutted potholed streets .... I thank the Unions for creating a Dept of Motor Vehicles that would be shamed in the Soviet Union ... And of course, every night when I say my prayers, I thank the Unions for helping to elect an incompetent useful idiot, who may be borderline functional in the real world, to the title of Governor of the State of Rhode Island (and Providence Plantations)
A Libertarian Curmudgeon's View On The World
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