Steven J Connolly

Entries in DRED (13)


To Learn About It. 

It is a slow blog day, but I've got a few projects going on!

In the past I've written about the decline and fall of the paper mills and industry in northern New Hampshire, and what I believe is the failure of the politicians and state policymakers including DRED to do anything about it.

It is what it is. I really dislike this expression, but this is the best way to describe this.

Up in Trois Rivieres, Quebec there is a museum dealing with papermaking and upon reading of this new place (it's in a closed papermill); made me realize that I've never really been inside of a paper-mill or seen first hand it's operations. When the Groveton mill was open and running I spent some time there and near there but was never physically inside as it operation(s) were moving from raw pulp to the finished paper goods.I've Written About The Decline And Fall Of Papermaking In New Hampshire.

The Trois Rivieres museum looks interesting, to not only learn about this but perhaps to hear from their perspective why this mill closed. I wonder what the politicians and policymakers in Canada did when this mill announced it's closure and the loss of jobs?  

All politicians are the same regardless of the country they are from.



Blonde Bombshells And Lies. 

It should come as no surprise that Lynn Tilton and her "Patriarch Partners" have been investigated and charged by the Securities and Exchange Commission with fraud. I'm confident the SEC has a real case. This needs to get locked up.

No Surprise At All.

For those of you that might not be up to date Tilton and this investment scheme are the paper owners of the paper mill in Gorham, NH and were much touted by the Governor and state agencies including the DRED Commissioner about how many jobs would be saved and what a boon it was for Gorham.

I'm confident that the SEC investigation involving fraudulent financial statements is rock solid and Tilton herself will definitely be indicted. This whole project was a complete sham right from the start. They're now trying to blame Natural Gas prices another sham. Any company that has exposure to any volatile commodity like Natural Gas has a hedging strategy or forward contract(s) in place.

Lynn Tilton needs to get locked up.

But it doesn't end here unfortunately, I think there is another investment scheme vis a vis sham in the New Hampshire offing. It's called Senate Bill 30 sponsored by Sen. Jeff Woodburn which proposes to uses a $28 million dollar loan guarantee to reopen the Balsams. It is my understanding the next hearing from S.B. 30 is on the 14th at 10:00am in the LOB.

Please contact your legislator and kill SB 30.


Promoting The Straws. 

For the second time in as many days the Union Leader is running another story about the Balsam’s Resort stalled redevelopment project up in Dixville Notch.

Just like the last story the developers are pinning their $15-$20 million dollar hopes on this EB-5 programme where Chinese or at least asian investors are going to pour in serious money in exchange for U.S. citizenship. Of course the Vermont example continues to be used and like I stated in my last blog on this same subject the entire Vermont Congressional delegation has been working on their application for years and their projects despite this coordinated effort still aren’t a “done deal.” I’m actually reading in the Caledonian Record newspaper that some of the Vermont developers are now seeking U.S. financing sources in addition to the EB-5 application. This says something.

Back in New Hampshire I’d like to ask:  Where is Gov. Hassan on this Balsam’s project? Gov. Hassan touts this whole “innovation idea.” so where is the capital to finance the ideas?  

Where is Rep. Anne Kuster on the Balsam’s project? Might she take some time from her busy Washington schedule to actually do something of substance for her district?

Beyond this the Balsam’s is a historic property and I’m sure the redevelopment effort has some merit in terms of local job creation but is it really that fair for U.S. taxpayers to be offering a subsidy for this redevelopment effort especially since it’s a resort and its market area and usage isn’t as large as the taxbase it’s drawing from?


Vermont Creates Jobs. New Hampshire Does Not. 


There was a front page story in today's Caledonian Record newspaper about a $39 million dollar expansion of Widemann's in St. Johnsbury. This is an industry that makes equipment and components used in electrical transformers.

Creating jobs imagine that.

And Vermont has a sales and income tax too.

Take that Tea Partiers from New Hampshire.


Vermont Is Creating Jobs. New Hampshire is not. This is a shot of Stowe Ski Area in Vermont.  


The Dreaded Call. 


Why Can't Cannon Generate A Profit?

If I have the time this week I'm hoping to make a call that probally won't be very productive or much fun. Hence my delay in making it.

I'm going to call DRED in Concord and try and find out out how the ski season went.

I've already heard the rumors. Cannon closed early, no profits this year "they're blaming the weather."

There are never any profits at the state run Cannon and it has nothing to do with the weather either.

Why is it that every other ski area in the region generates a profit except for Cannon?

Why is this?

I'll report my findings here on NH