Sunday, December 15, 2013

Not surprisingly, WNJ minimizes Fisker losses

So here's the lead from today's story:
It’s been apparent for a while now that the state of Delaware will recover little of the roughly $20 million in economic incentives it awarded Fisker Automotive.
That's bad, right?  $20 million down the tubes ...

Of course, the entire story fails to note that the damage is much worse than that:  another $7.4 million in uncollected State taxes, $700K+ in Red Clay property taxes, and $330K in New Castle County taxes, for a conservative total of $28.5 million gone down the tubes ...

And, as usual, the house organ for the Delaware Democratic Party closes with this:

Despite the tough spot for the state, government officials say they’re not giving up. 
“Our paramount interest is in working with whoever ends up owning the facility to try to put Delawareans back to work there,” said Mike Barlow, chief of staff for Markell.
Not giving up on what, exactly?  Throwing away millions in state tax money?

I love the "tough spot" meme--makes it sound like courageous state officials who have been thrown into this predicament through no fault of their own.

No comments: