Wed Oct 24, 2012, 09:03 AM
UTUSN (43,715 posts)
Yay!1 Ten yrs' data of Rethug power in TX shows Rethugism is all about "Trickle down"
Oh, but the Trickle-Down ain't the good stuff, it's the stuff the local taxpayers get to spend. May the TeaBaggers' heads explode with all the light bulbs flashing on in their tiny "brains"!1
In Decade of GOP Power, Cuts Moved Costs to Local Level
4th bankruptcy in Rick Perry's tech fund adds to total losses
AUSTIN, Texas (AP) — A fourth Texas high-tech startup that received taxpayer money through Gov. Rick Perry’s signature economic development fund has filed for bankruptcy, pushing the total losses in the $194 million portfolio beyond what the state says the fund has earned.
The collapse of bioenergy producer Terrabon Inc., which was awarded $2.75 million in 2010 and was backed by large Perry political donors, raises the question of whether the state’s Emerging Technology Fund that began in 2006 is now worth less than what taxpayers have put into it.
The state’s venture capital-like fund has raised concerns about accountability and transparency, including a critical report from the state auditor’s office last year. Perry’s political opponents have also hammered him over ties between campaign contributors and fund recipients.
Terrabon’s bankruptcy, which was filed in a Houston federal court in September, is the tech fund’s biggest bust to date and brings the total amount of failed investments to $5.25 million. In the fund’s 2012 annual report released in January, Perry’s office estimated that the portfolio’s 133 investments were worth $4.5 million more than what the state had handed out. ....
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Yay!1 Ten yrs' data of Rethug power in TX shows Rethugism is all about "Trickle down" (Original post)
Response to UTUSN (Original post)
Wed Oct 24, 2012, 09:08 AM
txdemsftw (461 posts)
1. I want Rick Perry OUT!
My husband and I visit Austin a lot (feel more at home there!) and I have, on several occasions, stood out in front of the Capital building with my RICK PERRY NEEDS TO GO! sign.
I cannot stand that man.