Tuesday, April 7, 2009 — There has been a great deal of concern in the press about the issues inherent in a governmental response to economic issues, especially in the area of operation of companies, etc.
I would like to express my concerns about an issue occurring in North Carolina that is truly a slippery slope into socialism.
When I pick up my newspaper in the morning, I have begun to have moments of déjà vu about a very difficult experience I had in Venezuela.
I would like to share my concerns about commonalities between my experience and the current efforts of the North Carolina government to assume ownership of the Alcoa’s Yadkin projects.
I have spent over 20 years in South America working on hydroelectric dams.
I was working on the Guri Dam in the eastern region of Venezuela during the time Hugo Chavez was undertaking the acquisition of the country’s private industry.
It started very small just like the forced acquisition of Alcoa’s Yadkin projects and ended up with a country that is now state run and has evolved from a healthy democracy to an almost certain dictatorship.
The oil fields in Lake Maracaibo are no longer as profitable, well maintained or environmentally safe; the dams operate without proper repairs; and the world class highway system from Caracas to Port Adoz is no longer a gem for transportation.
I read the newspapers at that time and listened to the speeches.
Chavez was using terms such as “this would be best for the citizens,” these companies are “sending profits overseas,” and so forth.
These exact phrases have been used in statements made by representatives of the Governors office and local politicians.
Before the Governor and Stanly County Commissioners lead the citizens of North Carolina down this path, they need to explain the numbers and the real economic impact.
The four dams under question and currently owned by Alcoa on the Yadkin system produce approximately 234 megawatts, a small output and the cost of annual maintenance on these older facilities makes the profit less than $15 million a year.
North Carolina’s acquisition costs would be approximately $500 million with accumulating interest costs.
An additional $240 million would be required to upgrade the facilities, several of which are almost 100 years old now. I don’t see the short or long term benefits to this acquisition in these calculations.
Our children will not live to see the benefit.
I recommend an alternative solution to the issue. Fund a private/public partnership with Alcoa and modernize the Badin manufacturing plant.
The result would be increased jobs and higher revenues.
Then you would be promoting the best of what is good about a capitalistic democratic nation.
Richard L. Glenn
President of Glenn Underwater Services, Inc.
Charlotte
Letters to the Editor
Charlotte native responds to Alcoa issue
- Letters to the Editor
-
-
Gingrich a front runner?
A year ago not many people gave Newt Gingrich much chance of being president.
-
An exciting year so far at WSMS
I am an eighth grade teacher at West Stanly Middle and wanted to take the opportunity to share some of the highlights of our year.
-
Clean Tech has right to choose location
I am writing in reference to Huck Huckabee’s letter to the editor.
First of all, I don’t think the working population has enough time in the day to wait around for an investigation on why Clean Tech did not take the offer of the Wiscassett Mills property. -
Let them make the decisions they are being paid to make
I am not being critical of our school board or individuals who sit upon it. I am not advocating that redistricting is the best option nor am I opposed to it.
-
The company was never about creating jobs
I think Mayor Whitley’s offer of the Wiscassett Mills property to Clean Tech was a brilliant move. The Jan. 5 SNAP article noted that Steve Strickler of Clean Tech said the Wiscassett Mills property “… would not fit Clean Tech’s needs in terms of size and available infrastructure.”
-
It's Past Time To Look At Redistricting
Question: Where does the West Stanly School District start? Answer: Just past the little bridge on West Main Street in Albemarle just before Hinks Grill. Handi-Mart and Stanly Community College are also in the West District. The South District starts somewhere around Rock Creek Park.
-
Questions to Stanly County
Over the past few months there has been a lot of public discussion concerning the ALCOA relicensing, the effort to locate CleanTech in Stanly County and the dollars spent by the Stanly County Commissioners on these two items
-
Postal Service needs greater flexibility for the new year
As we look forward to the beginning of a new year, the Postal Service still needs Congress to make a basic choice: to permit USPS to function more as a business or to continue the constraints.
-
ALCOA and their available jobs were not run out of Stanly County
It is my opinion that ALCOA made the choice to leave Stanly County which eliminated good paying jobs and benefits for its citizens after enjoying years of profitable business here. I am also very appreciative of the jobs ALCOA provided in the past.
-
Alcoa has been a great giver to Stanly County
Stanly County
I would like to inform the Stanly County manager and the commissioners that no one person owns the Yadkin-Pee Dee River. It is owned by the God of Heaven. And Alcoa’s dams have provided a great source of water to several counties. - More Letters to the Editor Headlines
-
Gingrich a front runner?
