After years of defending the Wisconsin Economic Development Corporation, one newspaper (out of several in the area) finally concedes the obvious: ‘WEDC has been a disaster from the get-go.’ See, from 11.28.15, http://www.gazettextra.com/20151128/our_views_consider_two_steps_for_salvaging_state8217s_job_creation_agency, subscription req’d. Yes, it has been a disaster, as politicized intervention in the economy, to the benefit of one’s well-fed, white-collar executive…
Government Spending
CDA, Development, Economy, Gluttony, Government Spending, Innovation Center/Tech Park, Local Government, Newspapers, Poverty, Press
Theranos as a Cautionary Tale
by JOHN ADAMS • • Comments
Theranos is a much-hyped biomedical start-up that’s fallen in valuation and reputation (not always the same thing) following published doubts (e.g., @ Wall Street Journal, Fortune) about its supposedly revolutionary technology. Here’s the meaning of this story for Whitewater: Theranos had the participation (and attention) of some of the most gifted men and women in America,…
Assault Awareness & Prevention, City, Corporate Welfare, Culture, Economics, Economy, Free Markets, Government Spending, Local Government, University, Waste Digesters, WEDC, WGTB, WHEN GREEN TURNS BROWN
Boo! Scariest Things in Whitewater, 2015
by JOHN ADAMS • • 3 Comments
Here’s the ninth annual FREE WHITEWATER list of the scariest things in Whitewater for 2015. The 2007, 2008, 2009, 2010, 2011, 2012, 2013, and 2014 editions are available for comparison. The list runs in reverse order, from mildly frightening to truly scary. 10. The Coming Ferret Invasion. Alternative title: The Unprepared Will Be Doomed. Earlier this year,…
Business, CDA, City, Corporate Welfare, Economy, Government Spending, Local Government
On Big Banks, Big Businesses
by JOHN ADAMS • • 2 Comments
In the video above, Sec. Clinton tells Steven Colbert that she’d let big banks fail. There’s something in her (briefly stated) position for a libertarian to admire, although other points to doubt. (I’d not urge breaking banks up, but would surely urge government to allow large banks or businesses to fail. Clinton, admittedly, is referring…
City, Government Spending, Local Government, Open Government, Taxes/Taxation
City of Whitewater’s Proposed 2016 Budget
by JOHN ADAMS • • Comments
Embedded below readers will find the City of Whitewater’s proposed 2016 budget. An open and confident government would embed the budget on the city’s main webpage; an inquisitive and worthy press would embed (or at least link) to the budget file. For the city there’s still a long way to go; for the print press there’s…
Business, CDA, City, Economy, Government Spending, Local Government, State Government
Gov. Thompson Rejects WEDC-Style Loans
by JOHN ADAMS • • Comments
Republican Tommy Thompson, who served for fourteen years as governor, has written in opposition to the Wisconsin Economic Development Corporation’s loan program. It’s the right position to take, and shows that Thompson understands the problems with WEDC. Explicitly, Gov. Thompson’s opposition to WEDC-style loans includes local communities’ doling of loans through their own programs. (Whitewater’s Community…
CDA, City, Corporate Welfare, Economics, Economy, Gluttony, Government Spending, Local Government, Politics
Fog Lifts
by JOHN ADAMS • • Comments
View image | gettyimages.com Whitewater started the day with fog, but there has never been a place, anywhere or ever, in which the fog did not lift. There’s reason for confidence that even befogged places see, in the course of events, clear skies. I’d guess, though, that most policymakers in town (such as they are)…
Government Spending, Science/Nature, Waste Digesters
Cold Fusion Research Wasn’t Bad Because It Was a Budget Buster
by JOHN ADAMS • • Comments
There’s a brief discussion at the end of Whitewater City Manager Clapper’s state of the city address from 9.17.15 that comes to mind this morning. (I’ll get to the substance of his specific remarks about a digester-energy project another time.) For today, I’ve a different perspective to offer. Consider this question: was cold fusion a…
CDA, Corporate Welfare, Gluttony, Government Spending, Local Government, WEDC
WEDC Spends More, Produces Less
by JOHN ADAMS • • 1 Comment
It should come as no surprise that the Wisconsin Economic Development Corporation’s millions in taxpayer handouts to well-fed executives and political cronies are producing less with each successive spending spree: The state’s flagship job-creation agency handed out nearly $90 million more in economic development awards last year than the previous year, yet those awards are…
Corporate Welfare, Gluttony, Government Spending, Politics, WEDC
The Weakness of Sugar Cubes
by JOHN ADAMS • • 2 Comments
When conditions are dry, sugar cubes are fairly sturdy. When placed in coffee, they don’t last long. View image | gettyimages.com Cronyism is like this – it does well in the dry jar of municipal officials, insiders, press-toads, big-business lobbyists, and their lightheaded cheerleaders. In the bracing coffee of careful analysis, sound economics, and impartial…
City, Economy, Government Spending, Local Government, Press, WEDC
What City Officials and the Press Haven’t Told You About the HyPro Layoffs
by JOHN ADAMS • • 13 Comments
Updated, 9.9.15, 2 PM, and bumped forward from original 9.8.15 post date. I’m always eager for more discussion about WEDC – To reconcile the figures of $1,300,000 and $262,000: There are differences in the dollar amounts of tax credits depending on whether one considers the maximum authorized or the amount HyPro has so far taken. In…
Business, Corporate Welfare, Gluttony, Government Spending, WEDC
The New Crony Capitalist
by JOHN ADAMS • • Comments
Gov. Scott Walker on Thursday appointed banking executive and frequent GOP donor Mark Hogan to lead the state’s troubled job-creation agency [WEDC]….. M&I Bank faced its own problems several years ago with bad loans and a crashing stock price and ended up being absorbed by BMO Harris of Canada in 2011. M&I loan losses during…
CDA, Economics, Economy, Gluttony, Gov. Walker, Government Spending, WEDC
The WEDC Taints Walker (and local officials even more)
by JOHN ADAMS • • 2 Comments
The WEDC is a state and national story that has local implications. Some of the toughest political battles are intra-party ones: Republicans or Democrats fighting against fellow party members for their respective primary nominations. For rival Republicans, Gov. Walker’s creation of the Wisconsin Economic Development Corporation will offer a legitimate and compelling line of attack against his…
Business, Corporate Welfare, Gluttony, Government Spending, WEDC
WEDC Leader Quits: “It is time for me to return to my previous retired status”
by JOHN ADAMS • • Comments
Having presided over the national embarrassment that is the Wisconsin Economic Development Corporation, WEDC leader Reed Hall now heads for the exit: The state’s top economic development agency, stung by a series of scathing audits, media reports about questionable loans and accusations of mismanagement, is once again seeking new leadership. After three years steering…