Currently viewing the tag: "corporate welfare"

Kasich Corporate Welfare Recipient Defrauds Government, Gets Big Paycheck
Omnicare, you may recall, was awarded millions in state incentives to move across the river–bring its existing employees with it–from Kentucky. Now, facing a massive settlement for Medicaid fraud , the company’s CEO is leaving with a big severance check worth over $3.3 million. Because if anyone should get a bonus, it’s the guy who convinced Governor Kasich to give him taxpayer money for not hiring anyone in Ohio or contributing to the tax base.

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The Canton Repository has the must-read political story of the day.  It did some digging and found that the extent in which the company was really in negotiations to move to other States (specifically Virginia and North Carolina) was far less further along than presented.

Let’s recap what we already knew before today’s story.  Diebold was given an essentially free global world headquarters in Ohio that will cost an estimated $100 million that will be paid for entirely by State and local economic development dollars in exchange for a promise that the company will not reduce its workforce […]

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Hey, if you thought there was nothing left to John Kasich’s corporate welfare giveaways to get you outraged over, guess again:

After securing nearly $100 million in State taxpayer assistance over the next 15 years, American Greetings has decided to give its CEO a nearly 20% raise. We’ve called the company to ask what kind of raise the non-executive employees can expect to receive.

So, congratulations, your taxes aren’t only subsidizing a company that was very profitable on its own in the first place, but you can now say your tax dollars are stimulating the economy thanks to Governor Kasich’s corporate CEO raise subsidies, too!

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During his 100 day celebration, after declaring his need to avoid “unforced errors,” Governor Kasich suggested that part of what SB 5 did was bring state government benefits more in line with the “shabby” benefits of private workers like a waitress at Bob Evans.  By bringing Ohio’s public employee union benefits, to the “shabby” benefits of minimum wage, non-union jobs like the waitress at Bob Evans saves the State money, Kasich argued.

(Source: Marc Kovac @ Ohio Capital Blog)

So, would the State of Ohio save money if it provided benefits like Bob Evans does?  No.

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The Canton Repository reports that Diebold’s CEO told Governor Strickland that his company had “a strong preference” to stay in Ohio. Is the ghost of NCR so terrifying to Kasich that he’s willing to give away the farm to even companies who are unlikely to leave Ohio? So glad we’re building a $100 milion global corporate HQ to keep a company here who already wanted to stay here. Sigh.

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Diebold’s international HQ’s is presently located in Green, Ohio near Canton—a region where the company started some one-hundred and fifty-two years ago.  It’s been at its present location since 1972.  While Kasich dithers on making any decision on the casinos, thus delaying billions in construction and new jobs, he’s rushing to declare victory over keeping Diebold in Ohio.

Today the Cleveland Plain Dealer reports that Governor Kasich and Diebold will announce that the State is giving $55 million (what budget deficit?) in tax incentives to essentially finance Diebold’s planned new $100 million world headquarters (the company […]

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Two days ago, I wrote about video that OhioCapitolBlog captured of Congressman Kasich promising undiscloseable bonuses he plans on offering to the corporate executives who sit on the board of his JobsOhio plan who will, in part, be asked to lobby the Administration on regulatory and legislative matters:

Today, the Ohio House Democratic Caucus issued this press release where two Democratic lawmakers criticized Kasich’s non-transparent plan to privatize Ohio’s economic development:

“The middle class in Ohio has been railroaded by Wall Street fat cats who took bailouts and raked in bonuses while the rest […]

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This is pretty stunning that we’re not seeing this in the reporting yet. (HT: Video from OhioCapitalBlog who needs to film a little further away.)

Here’s Kasich talking about how he’ll pay these corporate fat cats bonuses for doing the work that state employees already do for less:

 

Ha ha!  I’ve never had to tell you putzes in the media how much I made from Lehman Brothers for soliciting Ohio’s pension funds… suckers.  Aren’t I funny?

Then here’s Kasich actually promising that he’ll keep the bonuses he pays the corporate execs he’ll empower with dividing the corporate […]

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