The State of Delaware, which promised Fisker $21 million in incentives and gave them much of that, is considered a secured creditor, said Alan Levin, state economic development director. The state holds a security interest in the Boxwood Road plant, even though Delaware is third in line to collect on that debt, behind, which bought the federal government’s loan, and Silicon Valley Bank.So Markell and Levin at least got themselves in the line to collect a few pennies on the dollar, and that's what Markell later admits it will be:
As for what Delaware can recoup, Gov. Jack Markell said, “I think it’s limited. If you look at the resources likely to be available and the demand on those resources, I think it’s going to be challenging. We’re going to do everything we can do.”Notice here that Markell is ONLY talking about what Fisker screwed out of the State, which was a willing partner in crime.
But what about New Castle County and Red Clay, neither of whom had any control whatever over the deal that brought this dead skunk into the middle of Boxwood Road?
New Castle County is on the list; the county’s spokesman, Antonio Prado, said that as of Nov. 30, Fisker owed $303,392 to New Castle County and $793,430 to the Red Clay Consolidated School District. Both represent taxes and penalties.Yep, that's right--Governor Markell's risky venture, fully supported by the Democrats in the General Assembly, cost NCC and RCCSD nearly $1.1 million.
Which, if you read the article, it is clear that they are not going to get back.
So what should the Democrats do (and remember, in our one-party state, that's the only relevant question)?
How about some principled legislator (I know there have to be a couple in there somewhere) stands up with a bill to require the State to repay the debt to NCC and RCCSD?
And it is a Democratic Party problem, make no mistake.
Democrats worked hard and spent millions upon millions to get into control of the government of Delaware. They elected Jack Markell.
Now it's time for them to fix his messes or at least stop posturing about how good they are compared to everybody else.