Evergreen Solar files for bankruptcy

August 15, 2011 in Economy, MA

What happens when government interferes with our free enterprise system by picking winners? The winners like Evergreen Solar, chosen  byour MA Political Class because they were  “A Green Enterprise” and as “pay-pack” to a loyal environmental base, declare bankruptcy and squander the Peoples Treasure. Thank You Deville Patrick!

“Patrick visited the Marlborough company on the campaign trail, urging it to build a solar panel factory here, instead of in competing states such as New York and Oregon. Once in office, Patrick sealed the deal by offering Evergreen more than $76 million in grants, land, loans, tax incentives, and other aid. It was one of the largest investments the state has ever made in the success of a private company.

“Patrick now casts Evergreen as “a symbol of the future,’’ a leader in the state’s burgeoning clean energy industry with the potential to create thousands of jobs. The company, with nearly 700 employees in the state, has more than doubled its local payroll since 2007.”  Read more here:    Cloudy outlook for state’s bet on solar energy firm

“In January, Evergreen Solar shut down a panel manufacturing plantin Devens, Mass., which resulted in 800 lost jobs. The state is trying to recuperate part of the $58 million in state aid that was made available to the company, which state officials had touted as a promising clean-energy company worthy of state aid.” Read more here:  Evergreen Solar files for bankruptcy