A week or so ago I posted a couple links to a blog that brought out some troubling news from Sweet Water Organics regarding the city loan and financing issues that seem to be pretty prevelant in the once-impressive upstart company...
http://marionart23.blogspot.com/2012/04/problems-at-sweet-water-organics.html
And the news isn't getting better. While Alderman Zielinski, who supported the loan, says he still would have supported the loan even with the new news of unpaid employees saying pioneering companies will have "bumps in the road", the numbers just really aren't meeting expectations. While the company had the 10 employees for 2011 required in order to skip their first loan payment, the wages ended up equalling about a 5.50$ per hour pay rate, not the $10-25 per hr that Zielinksi had promised; Or around $26K, 1/3 the quarterly payroll expected for this period at the time the loan was given...
http://www.jsonline.com/business/some-souring-on-sweet-waters-city-financing-deal-f64rugb-146527625.html
So what do you think? Are these simple "bumps in the road" of a pioneering company or has mismanagement derailed what seemed to be an exciting, viable, and practical move toward lessening the city's footprint on the environment?
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