-By Warner Todd Huston
It seems that the surest way to go bankrupt is to have President Barack Obama use your business as some sort of example of the wonders of his administration and we have yet one more example of that in Evergreen Solar, Inc., the heavily taxpayer funded business that has now closed its doors.
In April of 2009 Barack Obama’s White House Communications Dept. sent out a missive to the State of Massachusetts happily touting all the great new “green jobs” that his stimulus spending was creating.
“Evergreen Solar,the Marlborough-based maker of solar panels,” the White House letter said, “also is hoping to hire 90 to 100 people at a manufacturing plant in Devens, said Gary Pollard, vice president of human resources.
Obama’s close friend, the disastrous Deval Patrick, Governor of Massachusetts, pumped millions of stimulus dollars into solar energy company Evergreen assuming that giant fistsfulls of cash — $58 million in state aid — would prove a magic elixir that could stave off the need for good business practices and those silly things called customers.
Turns out, not so much.
The company that Obama and Patrick touted as a great example of stimulus well spent has already, back in March, fired 800 workers and now must fire even more workers. Worse, it has filed for bankruptcy listing $485.6 million in debt.
Once again we see that government cannot make jobs, government does not make products, government cannot create business out of thin air merely by throwing piles of cash at it.
Additionally, we see that the idea of so-called green jobs is a chimerical, fantastic venture. You’d sooner find a flying dragon than a sustainable green job.