Yesterday, the Caledonian reported that the Balsams was up for sale. You remember the ongoing saga of the Balsams, where failed Maine ‘entrepreneur’ Les Otten was demanding New Hampshire taxpayers back his multi-million $$ boondoggle through legislation sought by nitwitted legislators from both sides of the aisle? Groksters wrote many articles about the adventures of … Read more
It’s a sad tale of a boondoggling boondoggler (Les Otten) who sold the state on a plan. Jobs for the North Country he said. As far as the eye can see. Just approve this “loan guarantee” and the private money will fall from the sky. We’ll be paying you back in wheelbarrows full of business taxes before … Read more
Elected officials in Vermont at both the state and federal levels will not have to take the stand and explain their part in a years-long multi-million-dollar Ponzi scheme to defraud foreign investors. The state has settled out of court.
So, have all of their plaudits for Biden turned out to be true? Or just virtue-signaling from NeverTrumpers who hated “mean tweets” even though the vast majority of his policies and legislation (again, no one’s perfect and he certainly was closer to lousy than good when it came to staffing).
A group representing 121 “Investors” has filed a lawsuit claiming that state officials in Vermont knew the project at a Vermont Ski Resort was a Ponzi scheme but did nothing to stop it.
We came out against it, but I guess I can’t expect the governor to veto everything. This means that a bill to allow “counties to establish redevelopment, or tax increment financing, districts in unincorporated places and issue and administer bonds for revitalization projects” has become law.
In 2015 Les Otten, your hat in his hand came to the Legislature looking for money. Senate Bill 30 opened the door. But Otten couldn’t get enough private backing to make that bond business work.
Remember the fight to block taxpayer-backed loans for Les Otten’s Balsams Boondoggle? The legislature and then Democrat Governor Maggie Hassan gave it their thumbs-up*. Well, it’s still sitting idle while Les hunts for more private investors. That’s not a good sign. But this is. The New Hampshire Department of Transportation is putting the brakes on a … Read more
As we entertain ourselves with Les Otten (pictured above) and his ‘North Country’ revitalization promises–and the political hoops bureaucrats and legislators in New Hampshire are jumping through to please him, we get this in-depth investigative reporting on VT Democrats. How they ignored financial risk and promoted fraud (and a Ponzi scheme) in exchange for promises … Read more
On Friday it was reported by New England Ski Industry that the amount of taxpayer-backed funding now being requested by Les Otten for the Balsams’ “renovation” is $40 million rather than the original $28 million. This on the heels of a report that Otten hasn’t even requested the proper permits to even begin working on … Read more
Today Governor Hassan signed Senate Bill 30. The bill that many legislators kept saying wasn’t about the Balsams while others coined it the “Balsams Bill.” This is the boondoggle that is going to line the pockets of Les Otten while he attempts to rebuild the Balsams to create low-paying jobs in the North Country.
On Wednesday a huge majority in the New Hampshire House voted to pass Senate Bill 30 aka the “Balsams Bill.” The bill allows “unincorporated places” to become a tax district, which also means they can now get funding from the state and have all taxpayers foot the bill if the deal fails. Of course, many … Read more
UPDATE: I knew I forgot something – from the NH Constitution: [Art.] 10. [Right of Revolution.] Government being instituted for the common benefit, protection, and security, of the whole community, and not for the private interest or emolument of any one man, family, or class of men; … ******** Crony Capitalism – the combination of … Read more
Yes, tech problems this morning galore and as a result, the video from the first segment on GrokTALK! with NH State Rep Max Abramson on a Legislative Update was lost (the livestream cam kept cutting out – sorry Max!). However, we marshalled on and hopefully next week, things will go a bit better. Segment 1b – … Read more
Yesterday the New Hampshire House Finance Committee held a public hearing on Senate Bill 30 (SB 30). The bill is “AN ACT relative to the establishment of redevelopment districts in unincorporated places.” It also changes the amount of the bonds the state can guarantee from $25,000,000 to $28,000,000 (the exact amount “needed” for the Balsams … Read more