Friday, December 7, 2012

WJTV covers Twin Creeks. Haley defends state role to AP.

WJTV covered the Twin Creeks failure and problems at Silicor in this story last night:
Meanwhile, the Associated Press interviewed former Governor Haley Barbour and reported:

"Barbour said he's confident that the company will repay any money that Mississippi officials can't get back from the building and equipment that were funded with state loans to the city of Senatobia.

"The state will recover all of its incentives given to Twin Creeks," Barbour told AP Friday. "I am not worried at all. I think that the risk to the taxpayer is next to nothing."

Barbour referred to Twin Creeks' offer to give the state an estimated $1.25 million in cash, plus the rights to up to $8 million in royalties from patents that were sold to GT Advanced Technologies of Nashua, N.H. for $10 million.

He predicted that Senatobia would lease the building for enough money to cover its loan payments to the state. MDA has waived the first payment of $1.2 million. Senatobia was supposed to collect that amount by Dec. 31 and pass it on to the state by Jan. 5. The state loaned Senatobia $18 million to prepare the site and build the building. It gave another $1 million in grants for site work.

Barbour also said the state's investments in Twin Creeks and a number of other alternative energy firms under his administration were not overly risky. Besides that company, Mississippi also signed agreements with alternative energy companies including solar panel maker Stion; smart window maker View, formerly Soladigm; solar silicon maker Silicor Materials, formerly Calisolar; biofuels maker KiOR; and biofuels maker Virdia, formerly HCL Cleantech.

Barbour says the state was careful to choose companies that were successful in raising money from private sources.

"You can look at all sorts of companies that are in the growing stage and some of them never make it," Barbour said. "We've been very serious in making sure that the resources put in by the private sector were such that there was a good chance the business would succeed. This is the only company of this type that hasn't made it."..


Anonymous said...

Maybe we could get somebody to open up a beef killin plant in Sentobia.

Anonymous said...

Haley is the definition of the NEW IDIOT

Anonymous said...

Awfully quick comdemnation, both earlier posters! Differences between beef plant an Twin Creek. At least in TC, there is security and provisions to get the money back. And - in TC, the state/city owns the facility.

Let's see what the final result is in TC before comparing it to beef plant. We know there that the original $20 million cost the state $55 million because reasonable loan processes weren't incorporated into the agreements.

I'm not a fan of the state being in the venture capital business - don't care if it was Haley or Ronnie. Or Phil, for that matter. (You know, Phil that was all for these deals when they were being done and he rode on all of Haley's successes, but since being elected runs from anything controversial.)

Doesn't matter - state shouldn't be in the venture business. But so far, we haven't lost money on TC, or any of the others for that matter.

Anonymous said...

Our biggest boondoggle are the eight public 'universities' in a poor state that can only afford a couple. The Jackson-based IHL administration, expensive athletic programs, college patronage, and racial focus of the HBCs sends the state backward not forward. Our tribal and clannish culture is the principal economic and educational problem here.

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Trollfest '09

Trollfest '07 was such a success that Jackson Jambalaya will once again host Trollfest '09. Catch this great event which will leave NE Jackson & Fondren in flames. Othor Cain and his band, The Black Power Structure headline the night while Sonjay Poontang returns for an encore performance. Former Frank Melton bodyguard Marcus Wright makes his premier appearance at Trollfest singing "I'm a Sweet Transvestite" from "The Rocky Horror Picture Show." Kamikaze will sing his new hit, “How I sold out to da Man.” Robbie Bell again performs: “Mamas, don't let your babies grow up to be Bells” and “Any friend of Ed Peters is a friend of mine”. After the show, Ms. Bell will autograph copies of her mug shot photos. In a salute to “Dancing with the Stars”, Ms. Bell and Hinds County District Attorney Robert Smith will dance the Wango Tango.

Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).

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Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".

In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.

In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.

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Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!

This is definitely a Beaver production.

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Trollfest '07

Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.

There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

Note: Security provided by INS