Bad news for Portland's "green" companies
Wind energy companies like Vestas and Iberdrola, which have their headquarters in Portland, keep telling Congress that they need an immediate extension of the federal tax credits for wind energy or else they'll have to lay off more hundreds of people. What the Euro-suits are finding out, however, is that Congress is nowhere near having its act together, on tax credits or anything else. The latest action on Capitol Hill, jerking around with the Social Security tax cut, is not going to include a tax credit extension. And nobody knows when, if ever, the congressional toupees might get around to a vote on the issue.
The "green" lobbyists are heading back out into the hall to plot their next maneuver. But if they don't get a tax deal pretty soon, the greenies will likely be furloughing workers, at least temporarily, in the second half of the year. That is, if they don't go under completely.
| Posted at 8:41 AM | Permalink |
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Comments (20)
Look on the bright side we have a new Target store going in downtown. I wonder why they are shuttering their store on NE 118th and Glisan. Not really a gain here for Portland, as much as that smug pedophile mayor was gloating on TV last night. It is getting so I puke every time I see his face.
Posted by John Benton | February 17, 2012 9:08 AM
From one of the cited articles:
"The effort to extend the PTC was supported by Republican governors, multinational corporations, and a strong coalition in Congress."
Why, if "multinational corporations" support it, it must be a good thing!
Posted by Random | February 17, 2012 9:12 AM
Congress is nowhere near having its act together, on tax credits ...
Au contraire: Congress has their act completely together on the tax credits. They know that they are a complete waste of money and are running down the clock on purpose.
Posted by Garage Wine | February 17, 2012 9:14 AM
Green energy companies in Portland have some similarities to the Red Car in LA.
Posted by David E Gilmore | February 17, 2012 9:53 AM
Damn greenies aren't offering bribes high enough to match the oil companies.
Posted by Roger | February 17, 2012 9:55 AM
The noly thing that will happen, if it does, is a tax cut. Any handouts and tax increases are campaign targets.
Obama already has enough bonafides as giving this kind of handout to green companies.
"Damn greenies aren't offering bribes high enough"
$7500/car isn't enough? CoP giving $8M to Vestas isn't enough? $65M to raise SW Moody 15 feet isn't enough?
Greenies get a heckuva lot more than schools in terms of spending increases.
Posted by Steve | February 17, 2012 10:32 AM
OMG if they can't get their tax money to save the planet we're all gonna die.
Posted by Ben | February 17, 2012 10:34 AM
"$7500/car isn't enough?"
Actually, Obama's latest budget increases the per-car subsidy for electric vehicles to $10,000.
People bought just 603 Chevy Volts last month, and just 676 Nissan Leafs.
Clearly, the subsidies just aren't high enough!
Posted by Random | February 17, 2012 10:46 AM
This story says it all:
http://www.chicagotribune.com/business/ct-biz-0217-wind-ptc--20120217,0,7153601.story
Posted by Darrin | February 17, 2012 12:09 PM
Subsidies for electric cars a scam. Dealerships have been selling the cars between themselves and taking the tax credits. Then they are still selling the "used" Volt way over MSRP. I saw a "used" Volt, with 10 miles on it, for $52k at a local Chevrolet dealer.
Posted by Jon | February 17, 2012 12:20 PM
I wonder why they are shuttering their store on NE 118th and Glisan.
Because there is a newer Target store located at Mall 205, just barely over a mile away, that is more profitable. It is also right next door to a Safeway making it a poor candidate for being remodeled into Target's current store design which includes a grocery department.
I believe (purely recollection) that there are some other reasons why, but aren't being made public because they aren't P.C. (Something about excessive theft...)
Posted by Erik H. | February 17, 2012 12:36 PM
What's next - is Mayor Sam going to announce a tax program that allows these companies to write off their losses on their property tax values? Gives them free rent? Exempts them from all municipal taxes? Free parking?
Anyone with half a brain cell knew this was a stupid idea to "invest" in companies that would flip on dime. Now we're seeing the results...instead of "investing" in good, solid manufacturing companies that would put down a good footprint in Portland, hire workers here in Portland, and in steady demand industries. It's too bad Sam spends more time at Vestas...and not enough time at Freightliner and Gunderson and Esco - among other companies that have slowly moved work out of Portland but still have a manufacturing presence (for now).
Posted by Erik H. | February 17, 2012 12:39 PM
Sam isn't smart enough to understand complex subjects such as taxes, debt and economics. He was told that green is good, and that alternative energy is green, so that is what he is pushing.
Like a puppy with a new toy, he just focuses on the new and shiny.
Posted by Andy | February 17, 2012 12:58 PM
I believe (purely recollection) that there are some other reasons why, but aren't being made public because they aren't P.C. (Something about excessive theft...)
Doesn't it seem odd that the Target at 122nd & Glisan would have a theft problem considering the HQ of the Multnomah County Sheriff's Office is right across the street?
Posted by LexusLibertarian | February 17, 2012 1:16 PM
They're too busy selling public airwaves to communications giants who are already making conditions about whether or not we'll ever be able to reclaim them in the future.
Posted by NW Portlander | February 17, 2012 2:32 PM
Actually, Obama's latest budget increases the per-car subsidy for electric vehicles to $10,000.
This makes my blood boil. Only well-to-do people can afford these electric cars and they don't need or deserve a subsidy.
Posted by NW Portlander | February 17, 2012 2:34 PM
Darrin, wait a second! Sam tells everyone that "we are the leader of wind energy", but your post refers us to the Chicago Tribune where Chicago has over a dozen wind energy company headquarters. Who's lying? Who's hyping? Who's a fool?
Posted by lw | February 17, 2012 2:40 PM
Of course the Leaf subsidy isn't enough. Buyers' incomes average $170K. It takes more than $7,500 to get their attention. It's only fair they see some of their tax burden returned as bigger subsidies. I mean, it's an election year, isn't it?
Posted by Newleaf | February 17, 2012 2:59 PM
Something about excessive theft... Ha, just wait until they open their downtown store. You think they have a problem on 122nd, wait until the street punks steal them blind.
Posted by John Benton | February 17, 2012 3:19 PM
Green energy companies in Portland have some similarities to the Red Car in LA.
Such as...????
In case you're wondering...the Streetcar Scandal isn't true. National City Lines, owned by GM, Standard Oil and Firestone, didn't own "the Red Cars" (a.k.a. the Pacific Electric Railway)...and it was a government agency, the Metropolitan Transit Authority, that shut the PE down - not some conspiracy with "Big Oil".
Portland's streetcars - also not owned by NCL - were shut down a full decade before Los Angeles' streetcar system (the Yellow Cars) were shut down...thus, the federal court ruling that threw out all of the charges against NCL except for the one that said NCL monopolized the sales of buses to NCL by General Motors (thus eliminating competitors from selling buses to most of the nation's transit systems)...and NCL was fined $5,000. The only real outcome with GM providing extensive support to Flxible for competitive purposes.
Today, Flxible is out of business (in 1995); GM sold its transit bus division back in the 1980s to a succession of buyers and what's left of that business is owned by Nova Bus, a subsidiary of Volvo Trucks, and is largely out of the U.S. market and focused on Canadian business (where it is second to New Flyer).
I see absolutely no similiarities...
Posted by Erik H. | February 17, 2012 6:39 PM