This is not a slap at Spectrum Brands, who only asked for some cash. It’s what the Walker's Wisconsin Economic Development Corporation did that should send conservative voters screaming from their houses. We all just gave a very profitable company taxpayer dollars...to do nothing. Just stay where they are. A pre-emptive bribe so to speak.
WTDY News Director Zack Stein talked with Sly in the Morning and gave this jaw dropping account:
WSJ: Spectrum Brands Holdings is getting a $4 million forgivable loan from the Wisconsin Economic Development Corp. to keep nearly 500 jobs at its Madison offices and to invest in its Wisconsin operations over the next five years. It is the largest forgivable corporate loan issued so far by the WEDC.
“Keep” nearly 500 jobs here in Madison, that weren’t going anyplace. I’m not kidding. The Walker trick is to later claim he kept or created those jobs, when in fact, they weren't leaving to begin with. And for the record, it was Scott Walker’s baby:
"It's about securing those companies and their jobs that have built these communities," said Paul Jadin, WEDC chief executive officer. "Gov. Walker was very involved with (Spectrum Brands') leadership throughout this process, as well."Bottom line:
Spectrum Brands was not seriously considering moving out of Wisconsin. "Our intention was always to remain not only in the state of Wisconsin but in the Madison area," Prichard said.
Oops? Did Walker just learn a valuable lesson? Nope, it just part of the plan:
Jadin said the WEDC is looking at other companies that may qualify for proactive loans.