18 April 2011

Black & Decker: Crony Capitalism Comes to Maryland

What's that you say?  We have a budget deficit here in the State of Maryland?  Oh, we just raised the alcohol tax?  Other fees and taxes were raised?  You say that we are probably destined to getting hit with tax increases during the special session for gerrymandering this fall?  However, Stanley, Black & Decker of Towson is getting a favorable loan from Maryland and Baltimore County to "spruce up their campus?" 

It's so nice to see crony capitalism at work here in Maryland.  If the company can afford to make the payments on the note, plus the interest, why can't it afford to make the improvements without the aid of the state.  Surly the Fortune 500 company could tap the open market for debt, but perhaps the interest rate from the state and the county is more favorable?

Nothing like some good old vote buying huh? 

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