This was
just another example of taxpayer money going down the drain. Read more about
this at...
http://www.breitbart.com/Big-Government/2013/03/07/Green-Fuel-Company-Awarded-23-Million-in-2010-Is-Shutting-Doors-in-2013
The city,
in partnership with the Brooks Development Authority, developed a package of
business incentives that included a $400,000 grant, a ten-year 100 percent tax
abatement on personal property, and a commitment to invest $12 million in
public infrastructure. These tidbits make a lucrative gift to Nexolon!
The local
newspaper, the left leaning San Antonio Express News, approved of the mayor’s
effort to bring the Korean based solar panel company to San Antonio. The
newspaper heralded the project as a boon to San Antonio. It probably did so to
protect its favored son Castro and endorsed Barack Obama.
San Antonio
could benefit from the Nexolon move, but then it could also be just another
bailout for a failing green energy firm. Nexolon has seen their bottom line
shrink from a gain of 35.5 billion to a loss of 24.1 billion. This loss
happened despite an increase in revenues from 451.3 billion to 588.2 billion.
Nexolon’s
near-term assets and liabilities show that there are not enough liquid assets
to satisfy current obligations. Nexolon is also among the least efficient in
its industry at managing inventories.
Nexolon
could be another potential Obama loser. Read more at…
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