Despite a String of Bankruptcies Richardson Will Lead Energy "Forum" at the Democratic Convention



Bill Richardson

Critics suggest that former New Mexico governor Bill Richardson is proving once again that a record of failure in the world of energy investing doesn’t matter to progressive media outlet Politico or the Democratic Party.
New Mexico Watchdog reported earlier this week via Politico that former Governor Richardson will “lead an energy forum” at the Democratic National Party’s convention sponsored by Politico.
By almost any measure it is an amazing invitation. Despite a horrendous investment record in New Mexico where virtually every solar venture Richardson plowed public funds into stiffed creditors and filed for bankruptcy protection, apparently the Democrats still want Richardson to deliver a lecture on the subject of energy investing.
Not surprisingly, Richardson’s results are not dissimilar to those of the Obama Department of Energy. The highest profile failure to date by the administration is the more than a half a billion dollars it threw at Solyndra, only to see that company go straight into bankruptcy. Energy industry observers are astonished that Democrats continue to be insistent about trying to pound square taxpayer funded "investment" pegs into round economic reality holes. Here is a partial list of other recent solar bankruptcies besides Schott Solar, Advent Solar, and Solyndra: Evergreen Solar, SpectraWatt, Stirling Energy Systems, Photowatt, Solon, Energy Conversion Devices, Scheuten Solar, Odersun, Q-Cells, and Solar Trust of America.
The NM Watchdog is waiting to hear from Politico on why considering Richardson’s dismal track record, he was selected to lead the forum. And curiously, nobody at the DNC has plans to host a forum to see what could be done to build the Keystone XL pipeline or encourage Exxon Mobil, Chevron, and Conoco Phillips to grow their businesses so they can increase income taxes paid to the government above the current $37 billion per year.

Despite a String of Bankruptcies Richardson Will Lead Energy "Forum" at the Democratic Convention

Schott Solar’s not alone: Lots of green energy blues in New Mexico

Capitol Report New Mexico - For a time there, it looked easy to be green in New Mexico. But in the past couple years, the record for companies touted as part of a renewable energy revolution in the state is looking pretty dismal.
In January of 2010, the administration of then-Gov. Bill Richardson touted a series of “green” industries coming to the state, pointing to at least three projects that “will create nearly 500 new green jobs” in the state. But a review shows that the optimitism of just a couple years ago has crashed into economic reality.
Here’s a look at what has happened with some of those projects:

Last month’s announcement that Schott Solar was shutting down its manufacturing plant in south Albuquerque was met with shock, then outrage.
The shock came from the 250 employees who will be laid off by the end of the summer. The outrage came from New Mexico taxpayers who learned one day later that Schott Solar isn’t legally required to return one dime from the $16 million in grants given to the company because the Richardson administration did not attach any “clawback” provisions to the money (something that the city of Albuquerque and Bernalillo County did when it gave Schott $1 million and $500,000, respectively).
“It’s infuriating,” Gov. Susana Martinez told KOB-TV of the money that was awarded through the Economic Development Department and approved as part of a larger capital outlay bill passed by the state legislature. Read full story here: News New Mexico

Schott Solar’s not alone: Lots of green energy blues in New Mexico

Here Come the Floods in Ruidoso

Scorched Mountainside at Ruidoso Downs

KOAT - RUIDOSO, N.M. - Ruidoso residents are on standby as storm clouds move through, waiting to see if the rain will bring more flash floods. A number of residents near low-lying areas off Bonita Lake Road are keeping their eyes toward the sky to look for danger heading their way.
Resident Kenneth Dixon, 86, is trying to stay positive about the rains while preparing for the worst with his grandson and daughter to keep the water off his property.
"(The water is) making a mess," Dixon said.
"It's very sad. It's so devastating to (our neighbors) because they know in their lifetime it will never be the way it was," said Dixon's daughter, Jeannette Perkins.
Several miles away, Bonita Lake sits empty after draining over the past week in anticipation of monsoon storms that circled the burn scars of the Little Bear fire. Read full story here: News New Mexico

Here Come the Floods in Ruidoso

Martinez Trims Mansion Spending

Albuquerque Journal - When it comes to entertaining at the Governor’s Mansion, Susana Martinez is no Bill Richardson. But she’s no Gary Johnson, either. In 2011, her first year in office, Martinez spent $63,572 from a discretionary expense account, with most of that money going toward dinners, receptions and other events at the mansion in the foothills of Santa Fe.
The governor spent $21,112 from the account in the first quarter of 2012, but the early months of the year are a particularly busy time at the mansion, in part because legislators are in town for their annual session.

In 2008, just as the shine was wearing off the economy and his political star, Richardson spent $138,925 on entertainment at the mansion and other expenses. Actors George Clooney, Robert Duvall, Jeff Bridges and Robert Redford were among the Richardson guests that year. Richardson said the mansion “was meant to be a place to showcase New Mexico, a place to promote our state and our people.”
Martinez accused Richardson of wasteful spending at the mansion. She hasn’t entertained any celebrities, her office said. Read full story here (subscription required): News New Mexico

Martinez Trims Mansion Spending

Courtesy of Conservative Daily News

      janice2012.us

The Wrong Direction

New column on why America is headed the wrong direction. Read here: News New Mexico

The Wrong Direction

American Workers More Likely to Get on Disability Than Find a Job Since Obama Inauguration

Investors - More workers joined the federal government's disability program in June than got new jobs, according to two new government reports, a clear indicator of how bleak the nation's jobs picture is after three full years of economic recovery.
The economy created just 80,000 jobs in June, the Bureau of Labor Statistics reported Friday. But that same month, 85,000 workers left the workforce entirely to enroll in the Social Security Disability Insurance program, according to the Social Security Administration.

The disability ranks have outpaced job growth throughout President Obama's economic recovery. While the economy has created 2.6 million jobs since June 2009, fully 3.1 million workers signed up for disability benefits.

In other words, the number of new disability enrollees has climbed 19% faster than the number of new jobs created during the sluggish recovery. (Even after accounting for people who left the disability program because they died or aged into retirement, the disability ranks have climbed more than 1.1 million in the past three years.) Read full story here: News New Mexico

American Workers More Likely to Get on Disability Than Find a Job Since Obama Inauguration

Another Month, Another Atrocious U.S. Jobs Report

Bloomberg - American employers added fewer workers to payrolls than forecast in June and the jobless rate stayed at 8.2 percent as the economic outlook dimmed. Payrolls rose 80,000 last month after a 77,000 increase in May, Labor Department figures showed today. The unemployment rate held at 8.2 percent. Economists projected a 100,000 rise, according to the median estimate in a Bloomberg News survey. Growth in private payrolls was the weakest in 10 months.
Stocks fell on concern hiring has shifted into a lower gear, restricting consumer spending and leaving the economy more vulnerable to a global slowdown. The figures underscore concern among some Federal Reserve policy makers that growth isn’t fast enough to lower unemployment stuck above 8 percent since February 2009.

“The job market is soft,” said David Resler, chief economic adviser at Nomura Securities International Inc., who correctly forecast the payrolls gain. “I’d characterize our reaction as much the same way the Fed will react -- not surprised but disappointed. It’s just not the kind of growth we need to see at this stage in the business cycle.” Read full story here: News New Mexico

Another Month, Another Atrocious U.S. Jobs Report

A Year Later D.A. Still "Reviewing" Evidence

According to the Albuquerque Journal, District Attorney Angela "Spence" Pacheco of Santa Fe, who was appointed the special prosecutor for Second Judicial District Pat Murdoch's rape case, says her office is still reviewing ëvidence involving a retired Albuquerque criminal judge accused and later cleared of raping a prostitute. Pacheco was appointed as special prosecutor days after Murdoch's arrest in July 2011. Why this D.A. would announce she is reviewing new evidence instead of simply reviewing it is anybody's guess.

A Year Later D.A. Still "Reviewing" Evidence

NM State Fair cut to 12 days

KRQE - This year's edition of the New Mexico State Fair is going to be shorter. Fair organizers recently announced that the fair is streamlining down to just 12 straight days in September, instead of the 17 day stretch. The move comes as fair attendance fell to around 400,000 last year, about 30,000 fewer people than 2010. Fair managers are hoping the new schedule will pick things up. New Mexico State Fair spokesman Michael Henningsen said there are only six fairs in the country that run longer than 10 days. This year's fair will start a little later than usual on Sept. 12 and it will close on Sept.23. Read More News New Mexico

NM State Fair cut to 12 days