In January, I talked about Evergreen Solar, and their shameful outsourcing of jobs to China, even though they received tens of millions in government subsidies and incentives. Last week, the Metrowest Daily News reported that Evermore has filed for bankruptcy.
The Chapter 11 filing is hardly surprising. Trying to kick-start a company to prosperity by throwing money at it, despite a lack of competitive manufacturing practices and a clear misunderstanding of the pricing structure and the market that they were in was just plain bad judgement. Interestingly enough, the Chinese joint venture may remain open, with only the US subsidiary going down the toilet.
The US and Massachusetts governments seems to pick who gets money by whether the state or business owner is red or blue, and how many possible jobs it supports under the company forecast, no matter how unrealistic it seems. Wouldn’t it make more sense to develop an overall manufacturing and energy strategy with experts in those areas instead of politicians deciding on what incentives and investments will really pay off in the long run?
I think so, what about you?
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