Equity Firm Closing More WI Businesses
I had mentioned in a posting earlier this week the closing of a paper mill in Brokaw by an out-of-state private equity firm.
The context was the closing of a Waukesha dairy- - without giving workers their legally-mandatory, 60-day notice - - by a different private equity firm.
On Friday, the same investors who closed the paper mill announced two more plant closings in Wisconsin - - ending more than a century of paper-making by Wausau Paper Corp - - and another in Minnesota.
And the Republican State Legislature is right on top of this requiring proper dress code and decorum for the ensuing community death and fiscal funeral pyre. Getting legislative salaries for what?
I know that closing a municipal transport hub in my area would require repayment of all State and Federal grants monies received for the last forty years, plus interest.
No such rules for repaying past taxpayer subsidies to private industry to at least cushion the blow to the region affected or to negate the value of business asset sell offs enough to discourage them from happening?
We can't get any creative thinking from Mr 250K Jobs or from his apparently impotent generals?
I know, rhetorical question.
Uncertainty caused by the ongoing John Doe investigation, the Walker administration's mishandling of the Talgo contract and the incompetence of WEDC must surely be putting a damper on job creation. The lawsuit against the state by Talgo is for $50 million. Another $50-60 million was lost by WEDC. Walker borrowed another $500 million so he could "kick the can down the road" and balance the budget as required in our constitution.
Who the heck but crooks and incompetents would come to Wisconsin looking for investment?
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