Tech SO Amazing It Needs Federal Dollars
Amazing Tech Needs Amazing Taxpayer Dollars!
Ponder the concept of tech so amazing that it must get Federal loans. Considering the track record of Federal government giving loans and the following exchange between Energy secretary Steven Chu and Sen. Al Franken (D-MN) and you just might cringe.
Sen Al Franken:
And it’s really…I’ve been there and it’s just an amazing tech. In the Spring of 2010, the DoE promised the company it would receive a $72 million loan guarantee under the 1703 Program to build a new manufacturing facility that would create 160 manufacturing jobs and 200 construction jobs in southern Minnesota. It’s now been two years since SAGE has been notified that it will receive a loan guarantee and the deal has not yet been closed. While the Department of Energy prolongs closing the deal, time and money are running out for SAGE. There are high-tech manufacturing construction jobs at stake here. It’s been going forward with the project assuming they get this loan guarantee but they’re running out of time and they may have to sell themselves to a French company. My first question is that the SAGE loan guarantee was going to be submitted to the credit committee on August 23rd, but it was stopped. Why is the Department of Energy continuing to delay closing and executing the SAGE loan guarantee?
Because maybe, and just maybe the Federal DOE thinks its a bad investment. And they are probably right, if it was a great investment in amazing tech, there would be hundreds of lenders lining up to loan them money.
But seriously, what is this amazing tech? Its glass as in window glass that darkens or lightens at the flip of a switch.
Maybe for Al Franken its amazing tech….or maybe it’s just amazing because it’s in his state. But I think its amazing that Sen Franken is so shameless in shrilling for tax dollars and if they don’t get the money (our money) they just might have to ….gasp….sell themselves to a French company….the horror…. a fate worst than death. Well I have dealt with French companies and they are really quite good business people. Most people in business, successful businesses are. And those in Government, typically aren’t, because its not their money.
If you go on Sage’s website you will find most of the installations are Colleges and Government buildings. Very few privately funded installations. And does that not tell us something? Amazing tech so amazing and so expensive that only tax payer funded installations go past the planning stages.
This is what passes for “creating jobs” and election campaigns. Sure, sell it to the French.
