Our elected officials and Chattanooga Area Chamber of Commerce look like roadrunners distancing themselves from the VW debacle, beep beep.
It was yesterday, the same elected officials obligated the taxpayers financially to the tune of a half a billion total in infrastructure, bond issues, and a book full of tax exemptions in a memorandum of understanding. Today, that corporation that cannot sell cars, and our local governments are still paying the bond issues.
This is precisely why government should not dabble in high risk speculative markets in hopes of trickle down benefits. Government, stop playing Capitalist 101 and cutting these horrible deals for the taxpayers, and focus on picking up the garbage, paving streets and providing services outlined in the municipal charters.
There are absolutely no safeguards for the taxpayers, thanks to these elected officials vesting the taxpayers financially in the success of VW Corporation. Only a government would sign off to the lopsided terms in the memorandum of understanding. It requires zero skills, Chamber of Commerce, to give away the farm with no protection mechanisms for the investors, called taxpayers.
"Sorry," does not cut it VW Corporation.
April Eidson