The Massachusetts company that the White House once said "is hoping to hire 90 to 100 people" thanks to stimulus money has $485.6 million in debt. Evergreen closed a factory in March, reports the Boston Herald, and cut 800 jobs. A Michigan plant is to be shut down, as well, causing the loss of even more jobs.
Evergreen isn't the only supposed conservation company that can't make it even when fronted with piles of taxpayer money. Green Vehicles of Salinas, Calif., which has burned through more than $500,000 in money "invested" by the city, folded last month without having produced anything of significance. The company promised it would employ about 70 and pay back Salinas taxpayers with $700,000 a year in city taxes.
The Green Economy. Gee, how could this have happened?