Has the State Learned Nothing from Skybus?
Wednesday, April 30th, 2008 By Marc KilmerThe failure of corporate welfare to spur Skybus to profitability apparently has had no effect on the desire of government to give away your money to businesses. Mutual Tool & Die was recently awarded a $800,000 state loan to expand its business. Funny, but I thought there were banks that did that. Perhaps if Mutual Tool & Die were unable to get a bank loan it is a good indication that their business plans are too risky. But when it’s taxpayer money I guess it’s OK to risk it on plans that private banks would not cover. I wonder if in a year or two we’ll be reading a news story similar to the ones last week talking about state officials looking to get the money back from Skybus that taxpayers gave it.
