3/14/2012

Adding Insult To Injury

Evergreen Solar, a company formerly based in Devens, Massachusetts, filed for Chapter 11 bankruptcy, closed it's plant, and moved its production to China. To add insult to injury, now Evergreen wants permission from the court to walk away from it's plant in Massachusetts. This is after it had received over $31 million grants, tax, lease initiatives, and other considerations from Massachusetts.

The Bay State taxpayers pony up the cash for yet another “green” company, and in the end the company takes the money and its assets and heads to China. I figure $31 million is just the beginning. As one commenter opined:

It's always fun and easy to spend other people's money. Now the state can spend $20mil on investigating what happened, $30mil on lawyers pressing charges, and then lose the entire case.

That's really adding insult to injury. But then, it's the Obama Way. (See Solyndra.)