An important correction: Someone familiar with Vermont electric utilities has informed me that I was wrong and made a substantial error in this diary.IBM did not receive public funds from the $69 million smart grid stimulus grants awarded to the consortium of VELCO and Vermont’s electric distribution utilities to fund statewide smart grid investments. Sorry for my mistake and confusion with this.
BP
IBM Vermont was in the newspaper Sunday. No, it wasn’t for threatening to leave the state but for their use of smart grid style technology. The technology is impressive, the investment impressive and the savings for IBM will be real. Also mentioned, but almost lost in the jumbled-up Burlington Free Press article is the fact this is funded in part by a $69million smart grid stimulus grant from the Dept. of Energy. Our tax dollars at work!
An ethos of common purpose helped secure Vermont's $69 million smart-grid stimulus grant from the U.S. Department of Energy in 2009, said IBM Senior Engineer Jeff Chapman.
"We're all paying a part of that $69 million, and we all want that return to be good," he said. "We want tangible results."
Although IBM’s almost ritualized “we could leave Vermont at the drop of a hat” threat is not mentioned directly it lies near the surface. The make or break nature of saving electric power costs is made clear. We are told complacence [regarding energy savings] would kill the plant's price point and if you don’t get that hint they remind "We compete head-on with Asia," (bags are packed!)
I am all for government spending on practical energy programs. Saving Vermont jobs is also laudable if this helps accomplish that. However, in these tight budgetary times a little more than a half mumbled thanks from IBM for forking over $69 million in taxpayer money might be worth their effort.
Now let’s go cut some food stamp benefits, entitlement programs and balance that ole budget so we keep taxes low.
Corporate profits vs. empty bellies.
why IBM needs taxpayer subsidies
the company reported net income of $14.8 billion in 2010 (yes, billion)
God, you would think that IBM would at least say thanks to us — the company that fought Shumlin’s single-payer bill because they did not want to pay their fare share and have us pay it for them; because they want to choke their workers more with the fear of benefit losses, and all the rest of it — yeah they should thank us for our gift to them. nice, friendly, appreciate company, isn’t it.
Thanks for these posts. I was not aware of how Cigna worked. I knew the benefit plans of IBM, however, that are costing the workers there more and more for less and less. And, according one IBM worker and friend, who has been with them almost 30 years, said that IBM does make money off the benefit programs.