what a waste
06-23-2011, 04:02 PM
#1
Libertarian Resistance
Thread Starter
Joined APC: Feb 2007
Position: 757 FO
Posts: 1,057
what a waste
September 21, 2009 GENESEE COUNTY, Mich. -- The Obama administration announced Monday that the Flint Mass Transportation Authority was among the transit agencies awarded a share of $100 million in Economic Recovery Act funds for pursuing environmental technologies to lessen America’s dependence on oil and create green jobs. The MTA will use the funds to replace two diesel buses with advanced all-electric Zero-Emissions GTB-40 buses from Fisher Coachworks.
“These grants will put Americans to work now while improving our environment in the future,” said Federal Transit Administrator Peter Rogoff.
MTA’s proposal was among 43 winning projects selected in nationwide competition for $100 million in
American Recovery and Reinvestment Act of 2009 funds.
Since President Barack Obama signed ARRA into law on Feb. 17, 2009, grants totaling more than $7.2
billion have been made available for transit improvements throughout the nation.
Fisher Coachworks
In September of 2009, Fisher Coachworks was mentioned in a press release from Gov. Jennifer Granholm as a “green technology” company that was part of the “new energy economy for Michigan.” Two years later, the state says Fisher Coachworks is out of business and the state has to write off $1.6 million it loaned the electric bus manufacturing company.
Edgar Benning, general manager of Flint’s Mass Transportation Authority, said in an email that Fisher Coachworks went out of business in the development phase of making two $1.1 million electric buses that Flint was going to purchase with grants from the American Recovery and Reinvestment Act, commonly referred to as the “stimulus plan.”
Fischer Coachworks officials could not be reached for comment.
Michael Psarouthakis, vice president of business acceleration for the Michigan Economic Development Corp., said Fisher Coachworks would not repay $1.6 million in loans it had received from the state. The MEDC had approved Fisher Coachworks for a $2.6 million loan, but never gave out the final $1 million because the company was struggling, Psarouthakis said.
“It was clear that they were going to have some serious financial difficulties even with our funding,” Psarouthakis said. “They needed significant funding above and beyond that.”
James Hohman, assistant director of fiscal policy at the Mackinac Center for Public Policy, said some green energy companies wouldn’t make it without government aid.
“Granholm opened the floodgates for any green business to get state money,” Hohman said. “This is her legacy. I think it is an important piece of the legacy that the businesses you are picking to win and whose business plans you support with state tax money wind up being big losers. That says some of these green energy business plans are likely to be facades held up with state support.”
State Taxpayers May Eat $1.6 Million Loan for Defunct Green Bus Company [Michigan Capitol Confidential]
“These grants will put Americans to work now while improving our environment in the future,” said Federal Transit Administrator Peter Rogoff.
MTA’s proposal was among 43 winning projects selected in nationwide competition for $100 million in
American Recovery and Reinvestment Act of 2009 funds.
Since President Barack Obama signed ARRA into law on Feb. 17, 2009, grants totaling more than $7.2
billion have been made available for transit improvements throughout the nation.
Fisher Coachworks
In September of 2009, Fisher Coachworks was mentioned in a press release from Gov. Jennifer Granholm as a “green technology” company that was part of the “new energy economy for Michigan.” Two years later, the state says Fisher Coachworks is out of business and the state has to write off $1.6 million it loaned the electric bus manufacturing company.
Edgar Benning, general manager of Flint’s Mass Transportation Authority, said in an email that Fisher Coachworks went out of business in the development phase of making two $1.1 million electric buses that Flint was going to purchase with grants from the American Recovery and Reinvestment Act, commonly referred to as the “stimulus plan.”
Fischer Coachworks officials could not be reached for comment.
Michael Psarouthakis, vice president of business acceleration for the Michigan Economic Development Corp., said Fisher Coachworks would not repay $1.6 million in loans it had received from the state. The MEDC had approved Fisher Coachworks for a $2.6 million loan, but never gave out the final $1 million because the company was struggling, Psarouthakis said.
“It was clear that they were going to have some serious financial difficulties even with our funding,” Psarouthakis said. “They needed significant funding above and beyond that.”
James Hohman, assistant director of fiscal policy at the Mackinac Center for Public Policy, said some green energy companies wouldn’t make it without government aid.
“Granholm opened the floodgates for any green business to get state money,” Hohman said. “This is her legacy. I think it is an important piece of the legacy that the businesses you are picking to win and whose business plans you support with state tax money wind up being big losers. That says some of these green energy business plans are likely to be facades held up with state support.”
State Taxpayers May Eat $1.6 Million Loan for Defunct Green Bus Company [Michigan Capitol Confidential]
Thread
Thread Starter
Forum
Replies
Last Post
