No money for roads, Plenty for Goodyear Tire

   Today, the oh-so-broke state legislature voted to give away $35 million in taxpayer money to Goodyear Tire & Rubber Co. 
   When the state started doling out hundreds of millions of dollars this way years ago, the money initially went to lure businesses here. One problem. Goodyear is already located here. So why give them money?
   The blackmail gambit worked like this. Execs at Goodyear, which employs 2,500, claimed they would close the company's Fayetteville plant and take 2,500 jobs elsewhere if the state didn't pony up. Legislators were more than happy to do so.
 Goodyear will use the money to modernize its Fayetteville plant, which company officials claim is at risk of closing, state officials say.
   Not that Goodyear needs the money. The company's profits are through the roof. Goodyear earned $56 million, or 26 cents per share, for the quarter ended June 30 compared with $2 million, or a penny a share, a year ago, The Associated Press reported.
   State legislators call this scheme "job maintenance." They passed a bill today that would fork the money over in $3.5 million installments over 10 years.
   Although Goodyear isn't named in the bill, Rep. Rick Glazier, D-Cumberland, told WRAL it is targeted at the company.   
   This is the same oh-so-broke state government of North Carolina that supposedly doesn't have the money to keep up with road construction. As a result, our urban roads are now the fourth most congested in the US according to a recent study.  
   Without major tax increases, tackling our road problems is simply impossible, legislators and the state's major daily newspapers insist. The real problem, I suspect, is that they've blown money on everything under the sun and don't have any left.
   Here's a sample of what legislators did have money for this year.

In other legislative news ...
   On Friday at 9:30 PM, Sen. Eddie Goodall was still waiting for a copy of the 300-page state budget that he was due to vote on at 9 AM the next morning. At that point, he and his colleagues still hadn't read it.    
   Holding back the budget until the last minute is part of a long-standing tradition on the part of the Democrats who run the legislature. If most legislators don't have time to fully read the budget before they vote on it, it makes it difficult to debate it or take issue with anything unseemly that might have been stuffed in at the last minute.
   Apparently there was good reason for that this year.
   

 

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Comments

  • 8/1/2007 6:31 PM Jay wrote:
    Very good article !! Charlotte and NC need more people like TS to get OUR government back in focus. Keep up the Great Work !!
    Reply to this
  • 8/2/2007 5:45 PM Cloyd wrote:
    This is fascism pure and simple. Yes, I know that word gets tossed around too promiscuously, but the kind of public/private partnerships that so many state and local governments practice today is extremely similar to what Mussolini did.
    Reply to this
  • 8/2/2007 11:33 PM Cindy wrote:
    It would be divine justice if one of these legislatures hit a pot hole on one of our terrible roads and had one of his Goodyear tires blow out.


    Reply to this
  • 8/3/2007 7:36 PM Don wrote:
    So, let me get this straight. We are giving money away to Goodyear. Thank goodness....I glad my taxes are going to a good cause, just like the arena, NASCAR museum and of course the McCrory line. Hey Tara, I still have some money left from my paycheck...isn't there anything else we can do with my money???
    Reply to this
  • 8/21/2007 3:29 PM John wrote:
    Keep the pressure on these politicians, if more people knew about these give-aways they might get out to the polls and make a difference. also if you want to see good roads go to the eastern part of the state.
    Reply to this
  • 8/21/2007 4:23 PM Brian wrote:
    For a more comprehensive look at other "essential" projects the state managed to find money for, check out this report:
    http://www.jwpcivitasinstitute.org/keylinks/PolicyBrief/PorkReport.pdf
    Reply to this
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