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Vestas Gets 50 Millions in Tax Credits and Lays Off 800

 
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Tea Bag



Joined: 16 Dec 2009
Posts: 1298

PostPosted: Mon Oct 15, 2012 4:43 pm    Post subject: Vestas Gets 50 Millions in Tax Credits and Lays Off 800 Add User to Ignore List Reply with quote

Vestas was the recipient of $50 million in tax credits, and Department of Energy Secretary Steven Chu hailed the company as yet another poster child of green job progress back in 2010.

COPENHAGEN (Reuters) - Danish wind turbine maker Vestas said the impending expiry of a U.S. tax credit had exacerbated a fall in orders for next year, forcing it to make more than 800 job cuts in the United States and Canada so far this year.

With the Production Tax Credit (PTC) on renewable energy set to expire at the end of the year, Vestas Wind Systems A/S had previously said it could be forced to lay off a total of 1,600 employees in North America if the scheme is not renewed.

Vestas, which is battling the effects of government austerity measures in various countries, said the 800 staff cuts so far this year represented 20 percent of its North American workforce.

"The U.S. wind industry has slowed, largely due to the uncertainty surrounding the Federal Production Tax Credit extension," said Martha Wyrsch, head of Vestas-American Wind Technology, Inc.

Rising costs and fierce competition, especially from Asian rivals, have added to its problems.

Vestas has already closed a number of factories worldwide and will transfer sales staff from southern Europe to South America.

http://news.yahoo.com/vestas-cuts-800-north-american-jobs-orders-slow-105358826--sector.html
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herbieshore



Joined: 05 Jul 2012
Posts: 21

PostPosted: Tue Oct 16, 2012 12:53 pm    Post subject: Add User to Ignore List Reply with quote

Seriously, you are going to bring this up with all of the stuff that Bain Capital and your hero Mittens did to American workers and jobs while lining their own pockets?
Please.
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spazcat



Joined: 26 Feb 2008
Posts: 7657
Location: whatsamatta u

PostPosted: Tue Oct 16, 2012 1:00 pm    Post subject: Add User to Ignore List Reply with quote

teaparty is not ruled by sense or conscience he simply and blindly posts stuff that wouldn't fool a 4 year old. so there it is, want sense go to a mensa meeting, teaparty don't need no stinkin' sense... Laughing
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maximus99



Joined: 07 Sep 2012
Posts: 3455

PostPosted: Tue Oct 16, 2012 1:38 pm    Post subject: Add User to Ignore List Reply with quote

herbieshore wrote:
Seriously, you are going to bring this up with all of the stuff that Bain Capital and your hero Mittens did to American workers and jobs while lining their own pockets?
Please.



Mitt didn't do anything to anyone. He let them stand on their own and if they could not then they went under. The real problem is unions are fat and lazy. Why don't the unions start their own companies? I guess that would take work.
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barracuda



Joined: 08 Jun 2009
Posts: 1968

PostPosted: Tue Oct 16, 2012 2:03 pm    Post subject: Add User to Ignore List Reply with quote

Cut Corporate welfare.

Let the fat middle aged greedy owners make it on their own. No Corporate subsidies, no tax loopholes or deductions. Why does my tax dollars have to support their greed?
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Long_Duk_Dong



Joined: 01 Feb 2012
Posts: 3800

PostPosted: Tue Oct 16, 2012 2:06 pm    Post subject: Add User to Ignore List Reply with quote

Were all the billions that Obama doled out, and then the recipients went bankript, considered corporate welfare?

Should we not cut out all govt welfare if it is not needed?
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maximus99



Joined: 07 Sep 2012
Posts: 3455

PostPosted: Tue Oct 16, 2012 2:10 pm    Post subject: Add User to Ignore List Reply with quote

Long_Duk_Dong wrote:
Were all the billions that Obama doled out, and then the recipients went bankript, considered corporate welfare?

Should we not cut out all govt welfare if it is not needed?



Cut it all. The Dems complain about corporate welfare but will complain whne their fat lazy unions go under without corporate welfare.
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barracuda



Joined: 08 Jun 2009
Posts: 1968

PostPosted: Tue Oct 16, 2012 2:39 pm    Post subject: Add User to Ignore List Reply with quote

Yup, if there are enough jobs for everyone...cut social welfare.

All employers should have to use E-verify to screen out illegals, as President Reagan promised in 1986 with his Immigration Reform and Enforcement law. Send violator employers to jail.
Cut the defense budget.
Cut Corporate welfare...no subsidies...no tax loopholes...limited deductions..
Ban all lobbying of elected officials. Send all lobbyists to a deserted island in the Pacific Ocean.
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Long_Duk_Dong



Joined: 01 Feb 2012
Posts: 3800

PostPosted: Tue Oct 16, 2012 2:43 pm    Post subject: Add User to Ignore List Reply with quote

What about frivolous benefits like 600 cable channels and free cell phones and the like? Should taxpayers subsidize these things for welfare recipients?
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Tea Bag



Joined: 16 Dec 2009
Posts: 1298

PostPosted: Tue Oct 16, 2012 2:53 pm    Post subject: Add User to Ignore List Reply with quote

Long_Duk_Dong wrote:
Were all the billions that Obama doled out, and then the recipients went bankript, considered corporate welfare?

Should we not cut out all govt welfare if it is not needed?


A123 Systems Inc. (AONE), the electric car battery maker that received a $249.1 million federal grant, filed for bankruptcy protection and said it would sell its automotive business assets to Johnson Controls Inc. (JCI)

The filing may fuel a debate over government financing of alternative-energy and transportation businesses. Federal grants and loans to companies including A123, Fisker Automotive Inc. and Tesla Motors Inc. (TSLA) have drawn scrutiny from congressional Republicans following the September 2011 bankruptcy filing of solar-panel maker Solyndra LLC two years after it received a $535 million loan guarantee from the U.S. Energy Department.

http://www.bloomberg.com/news/2012-10-16/electric-car-battery-maker-a123-systems-files-bankruptcy.html?cmpid=yhoo
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