The race to the bottom has never been more apparent. If you live in Portland, you pay money to a company in Spain to keep some well connected local landlord's office building occupied. All in the name of saving the planet -- and "jobs," of course.
Comments (12)
Port of Portland should subsidize international flights using the Fedex hub model. The spokes would be every green company corporate office in the world.
The math is a little screwball. If $1.15 million is what Iberdrola wants to make it possible to keep 350 jobs in Portland for 10 years, that's about $3,000 per job, or $300/year, meaning that Iberdrola would get savings equal to the PDC subsidy simply by paying its workers $300 per year less.
Where I'm from, if you run out of money, you go out of business. Harsh, I know! Start over, or something.
On the flip side, if you don't run out of money, you might get to keep some of it, instead of being shaken down continuously.
This entire green industry is going down fast, all over the world. Spain bankrupted itself trying to shift to a green renewable whatever economy.
Portland doesn't really want sustainability, it just wants to stay cool for one more year, one more month when the fad is already long over... and nobody will sign it's yearbook anymore.
At least I have stock in Iberdrola, formerly Scottish Power and before that Pacific Power. But the stock is down and the dividends get whacked with I think an 18% Spanish tax. So Portland is subsidizing the company so I can pay a tax to support the government of Spain. Which of course needs all the income it can get right now. And the tax is a deduction against income on my 1040. It's complicated.
Adams said "the city's proposed contribution is an investment in an industry that provides high-skilled, well-paid jobs." It's the welfare state turned upsdide down. Those with low-skilled poorly paid jobs get to subsidize the jobs of the young creatives. What next? Subsidized housing for those making $95K ??
Frank: we already subsidize housing for those making $95k in Portland.
There's an "affordable housing project" in Hillsdale built with public subsidies and full of middle-high income earners, and the Mirabella (Luxury Retirement Living for Doctors, Dentists, and Lawyers) built with Multnomah County Guaranteed tax free bonds.
Charamba, Douro 2008
Horse Heaven Hills, Cabernet 2010
Lorelle, Horse Heaven Hills Pinot Grigio 2011
Avignonesi, Montepulciano 2004
Lorelle, Willamette Valley Pinot Noir 2011
Villa Antinori, Toscana 2007
Mercedes Eguren, Cabernet Sauvignon 2009
Lorelle, Columbia Valley Cabernet 2011
Purple Moon, Merlot 2011
Purple Moon, Chardonnnay 2011
Abacela, Vintner's Blend No. 12
Opula Red Blend 2010
Liberte, Pinot Noir 2010
Chateau Ste. Michelle, Indian Wells Red Blend 2010
Woodbridge, Chardonnay 2011
King Estate, Pinot Noir 2011
Famille Perrin, Cotes du Rhone Villages 2010
Columbia Crest, Les Chevaux Red 2010
14 Hands, Hot to Trot White Blend
Familia Bianchi, Malbec 2009
Terrapin Cellars, Pinot Gris 2011
Columbia Crest, Walter Clore Private Reserve 2009
Campo Viejo, Rioja, Termpranillo 2010
Ravenswood, Cabernet Sauvignon 2009
Quinta das Amoras, Vinho Tinto 2010
Waterbrook, Reserve Merlot 2009
Lorelle, Horse Heaven Hills, Pinot Grigio 2011
Tarantas, Rose
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La Vielle Ferme, Rose 2011
Benvolio, Pinot Grigio 2011
Nobilo Icon, Pinot Noir 2009
Lello, Douro Tinto 2009
Quinson Fils, Cotes de Provence Rose 2011
Anindor, Pinot Gris 2010
Buenas Ondas, Syrah Rose 2010
Les Fiefs d'Anglars, Malbec 2009
14 Hands, Pinot Gris 2011
Conundrum 2012
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Penelope Sanchez, Garnacha Syrah 2010
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Atalaya do Mar, Godello 2010
Vega Montan, Mencia
Benvolio, Pinot Grigio
Nobilo Icon, Pinot Noir, Marlborough 2009
Portuga, Rose 2011
Revelation, Chardonnay, Pays d'Oc 2010
Beaulieu, Cabernet, Rutherford 2005
Monte Alto, Tinto Reserva 2005
Chateau Ste. Michelle, Cabernet, Indian Wells 2009
Espiral, Vinho Rose
Vin-Koru, Pinot Gris 2011
14 Hands, Hot to Trot Red 2009
Rodney Strong, Cabernet, Sonoma 2009
Abacela, Vintner's Blend #11
Portuga, White 2010
La Bourgeoisie, Red 2009
Januik, Red 2009
Three Rivers, River's Red 2008
Kirkland, Alexander Valley Merlot 2008
Muga, Rioja Rose 2010
Quinta das Amoras, Vinho Tinto 2009
Mauro Molino, Barbera d'Alba 2009
Garda Chiaretto Rose
Columbia Crest, Two Vines Vineyard 10 White
Chateau Ste. Michelle, Pinot Gris, Columbia Valley 2009
L'Hortus, Rose de Saignee 2010
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Trader Joe's Pinot Gris 2009
Montes Alpha, Cabernet 2007
Gran Sasso, Sangiovese, Terre di Chieti 2009
Garda, Classico Chiaretto Rose
Beaulieu, Cabernet, Rutherford 1999
Picos del Montgo, Tempranillo 2008
Chateau de Montmirail, Vacqueyras 2008
La Granja 360, Syrah 2009
Montgras, Carmenere Reserva 2009
Lange, Pinot Gris 2009
Columbia Crest, Horse Heaven Hills Cabernet 2008
Kirkland, Pinot Grigio 2010
Trader Joe's Coastal Syrah 2009
Columbia Crest, Horse Heaven Hills Merlot 2008
Trader Joe's Coastal Chardonnay 2009
Vieux Papes Red
Domaine de l'Aujardiere, Chardonnay 2009
Santa Rita, Cabernet, Medalla Real 2007
Penfold's, Koonunga Hill Shiraz Cabernet 2008
Guild, Red, Lot #02 2008
Dievole, Dievolino Sangiovese 2008
Laforet, Burgogne Chardonnay 2009
Columbia Winery, Merlot 2007
Bonterra, Cabernet 2008
Elk Cove, Pinot Gris 2009
Maquis Lien 2006
Scott Paul, Pinot Noir, Le Paulee 2007
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Jack London - The House of Pride, and Other Tales of Hawaii
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Colum McCann - Let the Great World Spin
Niccolò Machiavelli - The Prince
Harper Lee - To Kill a Mockingbird
Emma McLaughlin & Nicola Kraus - The Nanny Diaries
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Sharon Creech - Walk Two Moons
Keith Richards - Life
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Justin Halpern - S#*t My Dad Says
Mark Herrmann - The Curmudgeon's Guide to Practicing Law
Barry Glassner - The Gospel of Food
Phil Stanford - The Peyton-Allan Files
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Penda Diakité - I Lost My Tooth in Africa
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Charles Larson - The Portland Murders
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William H. Colby - Long Goodbye
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Phil Stanford - Portland Confidential
Rick Moody - Garden State
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David Sedaris - Dress Your Family in Corduroy and Denim
Anthony Holden - Big Deal
Robert J. Spitzer - The Spirit of Leadership
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Jeff Noon - Vurt
Road Work
Miles run year to date: 21
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Comments (12)
Port of Portland should subsidize international flights using the Fedex hub model. The spokes would be every green company corporate office in the world.
Posted by dhughes609 | February 2, 2012 7:56 AM
The math is a little screwball. If $1.15 million is what Iberdrola wants to make it possible to keep 350 jobs in Portland for 10 years, that's about $3,000 per job, or $300/year, meaning that Iberdrola would get savings equal to the PDC subsidy simply by paying its workers $300 per year less.
Posted by Isaac Laquedem | February 2, 2012 8:42 AM
Iberdrola would get savings equal to the PDC subsidy simply by paying its workers $300 per year less.
But then with this economic model how could the blackmail ever work?
Posted by John Rettig | February 2, 2012 8:56 AM
Looks like Iberdrola pays right around $100k a year. A $300 a year haircut is less than 1%.
Remember when the MultCo ITAX came to town and the cheerleaders gave us that "less than a daily cup of coffee" lecture?
Posted by Garage Wine | February 2, 2012 9:25 AM
What's sustainable about Iberdrola? Subsidies?
Posted by Bark Munster | February 2, 2012 10:24 AM
I predict Iberdola leaves within 2 years, and there won't be any way to recoup the subsidy Portland gave them.
PGE Park/Portland Family Entertainment/Glickmans? $35 million
Emily Boyles? $120,000
Multnomah County Commission who defaulted on her loans? $500,000
We don't even TRY to collect on our bad debts in P-town. Not from the well connected or the insolvent.
Posted by Mister Tee | February 2, 2012 10:40 AM
It would be fun to draw the well-connected, the insolvent, and the lucky recipients of the sweetheart deals as a Venn diagram.
Posted by Isaac Laquedem | February 2, 2012 2:59 PM
And of course the aricle didn't go near anything close to a WTF? type question...
Posted by paul | February 2, 2012 7:11 PM
Where I'm from, if you run out of money, you go out of business. Harsh, I know! Start over, or something.
On the flip side, if you don't run out of money, you might get to keep some of it, instead of being shaken down continuously.
This entire green industry is going down fast, all over the world. Spain bankrupted itself trying to shift to a green renewable whatever economy.
Portland doesn't really want sustainability, it just wants to stay cool for one more year, one more month when the fad is already long over... and nobody will sign it's yearbook anymore.
Posted by Downtown Denizen | February 2, 2012 10:42 PM
At least I have stock in Iberdrola, formerly Scottish Power and before that Pacific Power. But the stock is down and the dividends get whacked with I think an 18% Spanish tax. So Portland is subsidizing the company so I can pay a tax to support the government of Spain. Which of course needs all the income it can get right now. And the tax is a deduction against income on my 1040. It's complicated.
And the subsidy is wrong.
Posted by Don | February 2, 2012 11:30 PM
Adams said "the city's proposed contribution is an investment in an industry that provides high-skilled, well-paid jobs." It's the welfare state turned upsdide down. Those with low-skilled poorly paid jobs get to subsidize the jobs of the young creatives. What next? Subsidized housing for those making $95K ??
Posted by Frank | February 3, 2012 6:02 AM
Frank: we already subsidize housing for those making $95k in Portland.
There's an "affordable housing project" in Hillsdale built with public subsidies and full of middle-high income earners, and the Mirabella (Luxury Retirement Living for Doctors, Dentists, and Lawyers) built with Multnomah County Guaranteed tax free bonds.
Those are just the two examples I'm aware of...
Posted by Mister Tee | February 3, 2012 8:50 AM