Congress is wrestling with the best way to stimulate America's flagging economy. Spending on public infrastructure has been mentioned. Infrastructure includes roads, bridges, water, and sewer systems.
Private equity underwriters (PEU's) targeted infrastructure as a safe place to earn 15% annual returns. They're looking to put billions in cash to work. How will they choose between beaten down financial institutions hungry for investment cash and struggling municipalities short of capital resources?
The Carlyle Group has a long history of taking taxpayer's lunch money. In 2004 the State of Texas gave Carlyle's Vought Aircraft Industries $35 million to add 3,000 jobs. Within a year, Vought reneged on their planned restructuring. Rather than add thousands of new positions, the firm laid off 600. Vought promised to reach 6,350 jobs by the end of 2009. Their website indicates nearly 2,800 positions need to be added in the Dallas area in just 14 months.
Chances are Texas Governor Rick Perry will let Carlyle keep the money, despite not living up to their promises. They'll need it to fund other projects. It's a PEU economy!
Private equity underwriters (PEU's) targeted infrastructure as a safe place to earn 15% annual returns. They're looking to put billions in cash to work. How will they choose between beaten down financial institutions hungry for investment cash and struggling municipalities short of capital resources?
The Carlyle Group has a long history of taking taxpayer's lunch money. In 2004 the State of Texas gave Carlyle's Vought Aircraft Industries $35 million to add 3,000 jobs. Within a year, Vought reneged on their planned restructuring. Rather than add thousands of new positions, the firm laid off 600. Vought promised to reach 6,350 jobs by the end of 2009. Their website indicates nearly 2,800 positions need to be added in the Dallas area in just 14 months.
Chances are Texas Governor Rick Perry will let Carlyle keep the money, despite not living up to their promises. They'll need it to fund other projects. It's a PEU economy!
