Category: Business and Economy
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Will Election Fallout Extend to Local Union Push?
By F. Vincent Vernuccio Virginia’s new collective bargaining law is forcing local government officials to deal with a controversial issue fraught with potential errors and legal risks. If the 2021 election showed anything, it was that Virginia voters felt the Commonwealth was going in the wrong direction. The sweep of Republicans for governor, lieutenant governor,…
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How Team Northam Botched the Unemployment Insurance Crisis
by James A. Bacon By way of preface, let us acknowledge that managerial problems at the Virginia Employment Commission preceded the Northam administration. And let us acknowledge that the magnitude of the challenge in responding to the unemployment spike during the COVID-19 epidemic was unprecedented. It would not be fair to blame the entirety of…
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Is Virginia Exporting Its Human Capital?
by James A. Bacon Researchers at the State Council of Higher Education for Virginia (SCHEV) are asking a question with profound implications for Virginia’s higher-education policy. Is Virginia exporting more college graduates than it is importing? The answer, conclude Tom Allison & Susan Hankins in the latest Insights post, is, “Maybe. Enough to get our…
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Local Collective Bargaining Off to Slow Start
by Dick Hall-Sizemore Although the alarm bells have sounded repeatedly on this blog, there has not been a rush to establish public employee bargaining in Virginia. Today, about a year and a half after the General Assembly enacted the authorizing law, and six months after it went into effect, only three jurisdictions have enacted ordinances…
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Masters of Hype and Puffery
This is the fifth in a series of articles about Terry McAuliffe and GreenTech. by James A. Bacon and Carol J. Bova On July 6, 2012, GreenTech Automotive launched the rollout of the “all-American” MyCar electric vehicle at a ceremony attended by former President Bill Clinton, the governor of Mississippi, the assistant secretary of Homeland…
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Shearing the Sheep
This is the fourth in a series of posts about Terry McAuliffe and GreenTech Automotive. by James A. Bacon and Carol J. Bova The Chinese citizens who lost $500,000 each from investing in GreenTech Automotive were not happy with their setback. While they had ponied up their money as part of a scheme to get…
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Should Choice of Supplier Extend to Natural Gas?
by Steve Haner Should there be retail choice for natural gas? The developers of a proposed natural gas-fired merchant electricity plant are testing the waters with a proposal to bypass their local monopoly supplier by building their own one-customer pipeline to another source. In the electricity arena, this is an old issue as large industrial…
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Dreams from the Opium Den
This is the third article in a series about Terry McAuliffe and GreenTech. by James A. Bacon and Carol J. Bova When partners Xiaolin “Charlie” Wang, Anthony Rodham, and Terry McAuliffe banded together in 2009 to finance and build an electric vehicle enterprise known as GreenTech Automotive, they thought big. Very big. In a 2009…
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Brace Yourselves for Inflationary Impact
This chart, courtesy of John Butcher, shows how the Consumer Price Index has broken out from the annual 1% to 3% increase range of the previous decade. While inflation is a national story, it has public policy implications for Virginia, especially now that public employee unions can engage in collective bargaining. Federal Reserve Bank officials…
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A Handshake Deal Gone Bad
This is the second in a series of articles about Terry McAuliffe and Greentech. by James A. Bacon and Carol J. Bova Fourteen years ago, Benjamin Yeung was a Chinese entrepreneur whose companies manufactured and sold minibuses, passenger cars and business vehicles in China. In 2007 he launched a venture with the idea of building…
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Where Did $140 Million in GreenTech Money Go?
This is the first in a series of articles about Terry McAuliffe and GreenTech Automotive. by James A. Bacon and Carol J. Bova In September 2016, the Office of the State Auditor (OSA) of the state of Mississippi began undertaking a review of the contracts signed by the state’s economic development authority. The goal was…
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Sidney, We’ll Miss You
by James A. Bacon Sidney Gunst, who died last week, was best known as the pioneering developer of the Innsbrook office park in Henrico County — the biggest employment center in the Richmond metropolitan area outside of downtown Richmond. The Richmond Times Dispatch’s Greg Gilligan did a fine job on short notice of capturing Sidney’s…
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JLARC Agrees: VA Economy Lags National Growth
by Steve Haner First published this morning by the Thomas Jefferson Institute for Public Policy. This makes if official: Even the Joint Legislative Audit and Review Commission (JLARC) has documented and highlighted how poorly Virginia’s economy is performing, how far our state is lagging national growth averages. The admission comes in the most recent summary…
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The State Tax Gravy Train Accelerates
by Steve Haner First published today by the Thomas Jefferson Institute for Public Policy. Any claim that Virginia cannot reduce taxes on its citizens without damaging state programs has been further eroded by two recent announcements. The explosion of revenue from recent state tax increases is continuing into this new fiscal year, pointing to a…
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Stronger Teacher Unions = Weaker Parents
Allowing collective bargaining will put yet another special interest ahead of the parents who simply want a say in what is best for their children. by F. Vincent Vernuccio First published by Virginia Works and reprinted with the author’s permission. Virginia parents soon could lose even more control over their children’s education. Parents frustrated with school…