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Thursday, February 17, 2011

Whew -- what's that smell?

Portland taxpayers are handing millions (directly or indirectly) to Mark Edlen to build a spiffy new "sustainable" headquarters for Vestas, the Euro wind turbine people, in the old Meier & Frank warehouse. This was supposed to "create jobs," according to the mayor and the city's failing "development commission."

Funny thing, though -- Vestas just laid off a bunch of staff here in Portland, including all but one member of its IT department, according to one report. If the report is true, it's the second year in a row of layoffs for Vestas in Portland.

But wait -- don't tell me -- it's too late to cancel the deal with Edlen. So we'll still re-do that building even though we may have to leave it half-empty (or worse). Edlen banks his profit, of course.

Another financial coup for Mayor Creepy. What a town.

Comments (12)

I started catching a whiff of that aroma when it was first announced that the old M&F warehouse was to be remodeled and updated for Vestas - it didn't pass the sniff test. Good update, though sorry to see that my initial jaded view has simply been reinforced. I'm probably good for a 9.0 earthquake, at this point.

And its not just the wind turbine manufacturing industry outside China which is hurting/

Same thing is ging on in solar panel industry.

The Chinese have made no bones about their intent to totally dominate both of these "renewable" and "sustainable" industries, by essentially "buying" the customers away from any non Chinese producer with drastic price cuts. And thet are succeeding.

Yet just today, the State of Oregon is boasting that it agreed to give $ 100 Millio in subsidies to a solar panel maker to convert an unused Nike warefouse into a solar plant.

Aren't any of the ec develop folks paying attention to the industries or are they just shoveling tax dollats out the door for the mere promise, much less the actual creation, of jobs.

That was a rhetorical quesyion.

I know the answer.

to convert an unused Nike warehouse into a solar plant.

Follow the money. Without even looking, I'm guessing Hoffman Construction.

Hizzoner needs to hop a plane to Denmark STAT.

Don't forget folks, Edlen is one of the Daddy Warbucks behind the school bond issue. But this time it's for the children.

Vestas is not growing. Any responsible, ethical public servant would know this. Vestas has *promised* to grow the past three years, but instead has laid off thousands. Its business model isn't working, the demand is not there, and the competition is fierce.

Which provides a disturbing and simple analysis: either Adams *does not* know this, or he's being dishonest for the benefit of someone (which may be himself). Either way, you lose.

Nice one, Adams. When your days in public service are over--and in the scheme of things, it won't be long--pray hard that one of the palms you've greased offers you a job. Because in that same grand scheme, karma is going to be a b*tch.

Yet just today, the State of Oregon is boasting that it agreed to give $ 100 Millio in subsidies to a solar panel maker to convert an unused Nike warefouse into a solar plant.

Your information is incorrect. The state is giving SoloPower a $20 million loan and SoloPower has applied for $20 million more in business energy tax credits. Not anywhere near $100 million.

Can anyone tell me why the government should be choosing winners in business by giving subsidies?

(Japan tried that in the late 1940's and slowed Sony's progress because heavy industry was the favorite!)

How many winners are being screwed to promote Sam/Kitz's favorites? How many jobs are being lost?


CNBC had an analyst on this morning who has data that shows every $1,000 property tax increase results in a $20,000 reduction in the value of the home.

On this basis, he's predicting another leg down in home prices: many states have no alternative but to raise property taxes or stand up to the public employee unions. We already know who wins that battle in Portland.

Pete -

Assuming you are correct that its only $ 40 Million - not a $ 100 Million - that the state is throwing into a guaranteed losing solar power operation makes me feel so much better.

After all, we can afford to piss away $ 40 million.


Hey, green energy is going to be the big slop trough of govt money you've ever seen yet (and that's saying something for a town that give TriMet anything they want.)

This usually means every bad idea is going to be lining up for free money. Of course, govt NEVER audits any of these deals to see if they kept their promises, because they can never live up to the billings.

You know Iberdrola is going to shake down Sam and Andrews for some freebies if they stay here. This also means there's going to be one heck of a shakeout once these companies actually have to make a profit.

Another downtown employer is going to lay off IT staff:


Private employers won't stay in the city anymore, unless they are getting paid like that.

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