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(The Big Story)   Rick Perry's Emerging Technology Fund has done a wonderful job using Texas' tax dollars to stimulate job growth in other states   (bigstory.ap.org) divider line 43
    More: Fail, Texas Governor, Texas, state auditor, appraised value, Texas Emerging Technology Fund  
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1813 clicks; posted to Politics » on 24 Jul 2014 at 3:44 PM (43 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



43 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest
 
2014-07-24 12:32:34 PM  
You mean to tell me Slick Rick is completely full of crap?!?

Be still my beating heart.
 
2014-07-24 12:55:39 PM  
Texas Republicans: But he sure looks sharp in those glasses.
 
2014-07-24 12:56:38 PM  
Uh... oops
 
2014-07-24 01:08:22 PM  
Turns out that job tour to other states helped out...those other states.
 
2014-07-24 01:13:25 PM  
They'll be missing that money once everything starts catching on fire again.
 
2014-07-24 01:30:21 PM  
So, Perry invested in companies that failed, but the Fed and the Administration is terrible because Tesla Socialisms?
 
2014-07-24 01:32:39 PM  
What a Rick Perry Emerging Technology Fund Meeting might look like:

4.bp.blogspot.com
 
2014-07-24 02:34:55 PM  
Perry has distributed $205 million in taxpayer money to scores of technology startups using a pet program designed to bring high-paying jobs and innovation to the nation's second most-populous state. An Associated Press review of the program found that one of the companies actually operates in California.

Oh that's even funnier!
 
2014-07-24 02:39:36 PM  
That's all in the past. Now he wears glasses.
 
2014-07-24 02:40:17 PM  
Perry: spends $200M to create 1,600 jobs

Obama cuts the deficit and creates 5,000,000 jobs
 
2014-07-24 02:41:23 PM  

tnpir: You mean to tell me Slick Rick is completely full of crap?!?

Be still my beating heart.


He's too dumb to be called slick.
 
2014-07-24 02:55:07 PM  

Diogenes: Perry has distributed $205 million in taxpayer money to scores of technology startups using a pet program designed to bring high-paying jobs and innovation to the nation's second most-populous state. An Associated Press review of the program found that one of the companies actually operates in California.

Oh that's even funnier!


Well, they do kick back profits to Texas. If they make profits. And there's the rub, innit it?
 
2014-07-24 02:56:09 PM  
Gubna Goodhair has been making repeated trips to Iowa blabbing about this and that.  I assume our Texas tax dollars are paying for that too?
 
2014-07-24 03:14:49 PM  
But think about all the jobs he'll create by closing Planned Parenthood clinics and sending the National Guard to the border.
 
2014-07-24 03:56:34 PM  

Diogenes: Perry has distributed $205 million in taxpayer money to scores of technology startups using a pet program designed to bring high-paying jobs and innovation to the nation's second most-populous state. An Associated Press review of the program found that one of the companies actually operates in California.

Oh that's even funnier!


Hmm. "Technology startup" based in Texas but operating in California... What are the odds it's a patent troll?
 
2014-07-24 03:59:07 PM  
This is Perry's Solyndragate.
 
2014-07-24 03:59:49 PM  
or is it Solyndrazi?
 
2014-07-24 04:07:25 PM  

Saiga410: or is it Solyndrazi?


Solyndrazigate
 
2014-07-24 04:22:43 PM  

Saiga410: This is Perry's Solyndragate.


Except with real incompetence, and probable corruption.
 
2014-07-24 04:26:13 PM  

mrshowrules: Saiga410: or is it Solyndrazi?

Solyndrazigate


Fast and Solyndrazigate for Clunkers
 
2014-07-24 04:28:23 PM  

mrshowrules: Perry: spends $200M to create 1,600 jobs

Obama cuts the deficit and creates 5,000,000 jobs


Can one of our businesspeople explain how this makes any sense: Houston-based Cormedics Corp. received $750,000 and was credited with creating four jobs last year, including that of founder Jim Meador, who told AP that he's not even paying himself right now.

So that's $187,500 per job, only one of those jobs isn't salaried, so it's more like $250,000 per job?

Just what did TX get for that $750k?

// I know it's not a direct-incentive plan
// and that those jobs may be around longer than 1 year
 
2014-07-24 04:28:46 PM  
It's pretty amazing that the voters in Texas can be duped again and again and again. Rick Perry must just shake his head whenever he heads back to the public well for another slurp, all this time and no one's called him out on it.

And when he retires they'll pay him five-figure honoraria for him to speak at their Rotary Club meetings and Executive Retreats. Nice work if you can get it.
 
2014-07-24 04:29:34 PM  
Bensoyldrazig....OOPS!!
 
2014-07-24 04:33:40 PM  

Dr Dreidel: So that's $187,500 per job, only one of those jobs isn't salaried, so it's more like $250,000 per job?


Well employees do work and that work costs money in material. The cost of a job is not just the employees salary. There are a ton of start up costs, and those will be higher if it is a high tech start-up. It is why the exact number of jobs per dollar is not that useful of a stat. In these programs you should be looking for potential to real take off and have that technology and the investment in it have cascading effects through out the economy giving indirect results.

That is the hope anyway if it is not coated with cronyism and corruption.
 
2014-07-24 04:34:36 PM  
And yet "conservatives" flip their shiat over the green jobs programs.
 
2014-07-24 04:35:36 PM  

Dr Dreidel: mrshowrules: Perry: spends $200M to create 1,600 jobs

Obama cuts the deficit and creates 5,000,000 jobs

Can one of our businesspeople explain how this makes any sense: Houston-based Cormedics Corp. received $750,000 and was credited with creating four jobs last year, including that of founder Jim Meador, who told AP that he's not even paying himself right now.

So that's $187,500 per job, only one of those jobs isn't salaried, so it's more like $250,000 per job?

Just what did TX get for that $750k?

// I know it's not a direct-incentive plan
// and that those jobs may be around longer than 1 year


The founder may not be paying himself a "salary" but I'm guessing he's been giving himself big fat bonuses which he uses to make donations to Pery's campaign.
 
2014-07-24 04:36:42 PM  
1. Offer funds and tax breaks for start ups in Texas.

2. Don't provide any other assistance or oversight.

3. Uh, what was the third thing again?
 
2014-07-24 04:41:07 PM  
Damn it, we've been trying to rid ourselves of this POS.  GW. was a horrible president but he was a hellova better governor  than this -------------.


/Y'all fill in the blank
//How bout them Cowboys?
/// Slashies come in threes
 
2014-07-24 04:48:35 PM  
img.fark.net
 
2014-07-24 04:49:25 PM  

Madewithrealbitsofpanther: Dr Dreidel: So that's $187,500 per job, only one of those jobs isn't salaried, so it's more like $250,000 per job?

Well employees do work and that work costs money in material. The cost of a job is not just the employees salary. There are a ton of start up costs, and those will be higher if it is a high tech start-up. It is why the exact number of jobs per dollar is not that useful of a stat. In these programs you should be looking for potential to real take off and have that technology and the investment in it have cascading effects through out the economy giving indirect results.

That is the hope anyway if it is not coated with cronyism and corruption.


Thanks, ECON101.

Most people, when they start a business, don't beg for money from the government to do it, they raise funds in any number of ways that don't - to borrow from the conservative phrasebook - "pick winners and losers" by "distorting the market".

Plenty of businesses (even IT firms) in TX didn't need 3/4 of a million bucks from Free Marketeers to start up. My implication is that it's all about payola.

For a bit of history, I ran the support desk at a 100+-person architecture firm, and I can't think of any line-item from any of my budgets that hit $750k - not equipment, or maintenance, or training. Our 30-person design team got all-new HP laptops to run CAD with GIGANTIC 1080p monitors (I think like 26-28", and this was back in 2010), and that didn't break $200k. He could even be foisting off his whole year's rent on TX taxpayers.

My question remains: what did TX get for that cash (that couldn't have been got for less, or zero, cash)?
 
2014-07-24 04:53:13 PM  
Once again, the American public lost when the [administration] attempted to pick "winners and losers" in the free market.
....
This is really just the latest manifestation of the administration's crony capitalism as their green energy buddies benefit from this atrocious waste of taxpayer money. Americans really need to get outraged by these wasteful ventures. As we've seen time and time again, We the People are always stuck subsidizing the left's "losers."

So what's the solution and where do Americans go with our outrage? Stand up against the crony capitalism and elect only those who understand and will let America's marketplace dictate economic successes, instead of letting politicians (some who have never run any business nor even worked in the private sector) choose free enterprises' winners and losers. Take a stand, friends. Nothing will change unless you do.


- Sarah Palin
 
2014-07-24 04:56:58 PM  

mrshowrules: Saiga410: or is it Solyndrazi?

Solyndrazigate


Something like that.

Not just one Solyndra, but 16.  Damn.

A few years back, Texas had what I can only describe as a massive, way overdone booth at the Ohio State Fair, trying to drum up some tourism dollars.  I really feel bad for the Texas taxpayers that had to pay for that abomination, and would like the 10 minutes it took us to navigate the whole thing back.
 
2014-07-24 04:58:04 PM  

Dr Dreidel: My question remains: what did TX get for that cash (that couldn't have been got for less, or zero, cash)?


FTA
The tech fund works like this: In exchange for money, startups give the state an equity position in their businesses. If the companies are successful, the state recoups its investment or even makes a profit. If they go bankrupt or shut down - and at least 16 have so far - the dollars are lost.
 
2014-07-24 04:59:15 PM  
Rick Perry is one of most devoted politicians I've ever seen, and that devotion is to crony capitalism. Toll roads, grants, kickbacks, he'll approve ANY program that funnels taxpayer money to his rich friends and lets him keep attending lavish high-class banquets with the elite. He doesn't even pretend that well to be a small-government conservative; if it gives a heap of money to a corporation, especially if he's cozy with the people running it, the cost simply doesn't matter.

That being said, I don't actually see the big deal here? The company in California is lulzworthy, but otherwise it just seems like a standard hit-and-miss venture capital program. By nature, I'd imagine most of the guys who sign up for it WON'T be far up enough in the elite to be in his inner you-scratch-my-back-I'll-scratch-yours circle.

In other words, I don't think it's a scandal. However, this program seems to have a FAR higher failure rate than the quite successful green energy funding programs behind Solyndra et al. at the national level, so I would definitely keep this example around to shove up the rectum of the next conservative dumbass who's compelled to yell "SOLYNDRAGHAZI OBAMA ENRICHING PALS BAD".
 
2014-07-24 05:02:16 PM  
Solyndrazigahlcare
 
2014-07-24 05:03:43 PM  

mrshowrules: Perry: spends $200M to create 1,600 jobs

Obama cuts the deficit and creates 5,000,000 jobs


A good attempt.  But tax cuts aren't identical to spending.  The relative circulatory payoff is much lower for Perry style incentives.
 
2014-07-24 05:15:02 PM  
I see that battlespace preparation for the 2016 presidential race has begun.
 
2014-07-24 05:24:09 PM  

Gyrfalcon: 1. Offer funds and tax breaks for start ups in Texas.

2. Don't provide any other assistance or oversight.

3. Uh, what was the third thing again?


Profit
 
2014-07-24 05:43:12 PM  

Saiga410: or is it Solyndrazi?


Solyndrazi went under when the entire staff wound up in the ER after a fight over whether the panels would be green or purple.
 
2014-07-24 09:51:20 PM  

Isitoveryet: Dr Dreidel: My question remains: what did TX get for that cash (that couldn't have been got for less, or zero, cash)?

FTA
The tech fund works like this: In exchange for money, startups give the state an equity position in their businesses. If the companies are successful, the state recoups its investment or even makes a profit. If they go bankrupt or shut down - and at least 16 have so far - the dollars are lost.


So they're playing VCs with tax payer money and no experience as a VC. Got it. Overall, VCs generate an average return of 3.3%/yr, much lower than randoming investing in a mutual fund.
 
2014-07-25 01:19:34 AM  

theorellior: It's pretty amazing that the voters in Texas can be duped again and again and again. Rick Perry must just shake his head whenever he heads back to the public well for another slurp, all this time and no one's called him out on it.

And when he retires they'll pay him five-figure honoraria for him to speak at their Rotary Club meetings and Executive Retreats. Nice work if you can get it.


I won't swear to my accuracy--I'm from Texas but haven't lived there in 10 years and I lived abroad when Bush was "elected". That was fun to explain...but, I digress...

I believe that a.) he got the office when Bush was elected and b.) he's never been elected without a 3rd candidate splitting the vote (Kinky Friedman running as an independent) and another I think was Perry, Houston's former mayor Bill White and another man whose name I would love to recall, I think a Spanish surname, Cuban background...but I may be muddling elections up.

Most of the people I still know there don't like Perry at all, regardless of their political leanings. I have always thought his bid for the presidency began with the realization that he would not likely be reelected.
 
2014-07-25 02:59:00 AM  

UNC_Samurai: Saiga410: or is it Solyndrazi?

Solyndrazi went under when the entire staff wound up in the ER after a fight over whether the panels would be green or purple.


Rules change.. caught up in committee..
 
2014-07-25 06:33:09 AM  

Isitoveryet: Dr Dreidel: My question remains: what did TX get for that cash (that couldn't have been got for less, or zero, cash)?

FTA
The tech fund works like this: In exchange for money, startups give the state an equity position in their businesses. If the companies are successful, the state recoups its investment or even makes a profit. If they go bankrupt or shut down - and at least 16 have so far - the dollars are lost.


TFA is pretty useless. It looks at failures only and talks about a lack of transparency. No evaluation of the overall success or failure of the program, just a hatchet job.

I'm not a fan of Perry, but surely reporters can do more.
 
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