Danish Wind Turbine Company That Received Over $50 Million In Stimulus Lays Off 800 Workers
A Danish wind turbine company whose subsidiaries received over $50 million in U.S. stimulus dollars announced on Friday it has cut more than 800 jobs in the United States and Canada this year and may be forced to lay off another 800 employees in North America.
This is yet another green energy
... the attempt to produce energy without using fossil fuel. The preferred methods are solar, wind, geothermal, phlogiston, philosophers' stones, and rattling bears' teeth. The approach with the most promise involves attaching generators to perpetual motion machines, but using Words of Power to summon energy-rich demons may also work. The
green in the term refers to the vast number of greenbacks that have been thrown at the problem since 1973 with indifferent results...
company that received wasteful stimulus funds and does not even have anything to show for it.
According to Rooters, Vestas, the wind turbine maker, saw its order intake go down by 24 percent during the first half of the year.
"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.
Vestas said without more tax credits and stimulus funds, the company will have trouble competing.
Vestas executives, according to Rooters, told investors that "it would stop non-profitable projects," especially in Europe and America, where demand for its products have plummeted.
Posted by: Fred