Globe finally notices something fishy with Evergreen Solar

By Brett on Sat, 10/17/2009 - 7:19am

It's something I noticed in April of 2008, and wrote again about in March of 2009.

Interesting that new details are coming out, like the fact that a third of their workforce are temporary. I wonder how many of them are "independent contractors"...

The Globe also completely fails to mention that after securing money from the state and letting Patrick brag about the new jobs it was bringing in, Evergreen Solar built a $55M plant in Michigan which they claim will have 100 employees. Evergreen Solar received 2 million dollars from Michigan in tax credits last year.

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Comments

C'mon, not Deval!

By East Cambridge on Sat, 10/17/2009 - 9:09am.

I mean, how likely is it that someone who tried to pull
a Marion Walsh on us, then did pull a James Aloe-weasel
on us, would make a mistake like this? Why, don't you
remember the bumpah stickahs? He's "No Ordinary Leader"!

How do they do this?

By Stevil on Sat, 10/17/2009 - 9:16am.

I'm guessing you just promise "jobs". A couple of years ago I testified at a state hearing against a multi-million dollar tax credit for Bob Beal's property in South Boston which he claimed was necessary to land JP Morgan as a tenant. Anybody with an ounce of common sense knew this wasn't true. There were a host of problems with this deal - despite overwhelming evidence against giving this deal (half state money, half city money) - the board approved it 7-1. They promised hundreds of new jobs - and no penalties if they didn't come through with the jobs. Would love to know how they are doing in the middle of the banking crisis with all these new jobs. Ahh - to be powerful and connected!

I don't see anything fishy

By merlinmurph on Sat, 10/17/2009 - 9:32am.

You're implying some shenanigans going on, and I don't see it. From the article:

Battered by the ailing economy, stiff global competition, and plunging prices for solar panels,

A big problem is the price of solar panels, which keeps dropping, in part because of sinking demand and competition from China.

Sounds like a company facing a number of business-oriented problems to me. If you can point to specific management screwups, let's hear it.

And until you have facts, please don't make accusations like

I wonder how many of them are "independent contractors"...

Yes, the state has given them a number of incentives, grants, etc. and we can argue all day whether that was a good idea. Of course, we have the benefit of hindsight.

The company, with nearly 700

By NotWhitey on Sat, 10/17/2009 - 10:23am.

The company, with nearly 700 employees in the state, has more than doubled its local payroll since 2007.

The story isn't about nefarious dealing of Evergreen Solar. The story is about the risks governments - in this case, Deval Patrick - take when they try to pick winners in the economy. Deval Patrick took our money, went to the track, and bet it on one horse. Now, the horse is in the middle of the pack, and fading fast. Don't blame the horse because you're losing your money.

Didn't he go to Harvard

By Stevil on Sat, 10/17/2009 - 12:44pm.

Sounds like they have a problem with matching "purpose of funds with objective" also - they must not teach that at HBS.

Public funds are for PUBLIC purposes - not gambling on your latest investment scheme.

Governor responds to Globe article

By adamg on Sun, 10/18/2009 - 10:05am.

Here.