Rush Limbaugh's Morning Update: Bankrupt
From Rush Limbaugh: When big companies with familiar brand names declare bankruptcy, everybody notices. But sometimes when smaller operations fold, the reasons for failure ought to be scrutinized. Such is the case with a company I'm sure you've never heard of: Hawaii Superferry.
Their name isn't as recognizable as Circuit City, Chrysler or GM, but Hawaii Superferry had a simple, clear business objective: They'd be the first company to ferry passengers and their cars between the Hawaiian islands that make up our 50th state. They were on track to do just that -- with two ferryboats -- until environmentalist wackos got a hold of their plans.
Doing what they do best, the wackos tied up the company in legal proceeding after legal proceeding, claiming that the ferry service would harm the environment. An environmental impact study was ordered, but the state legislature passed a law allowing the company to operate while the study was being completed. That prompted another lawsuit, and in March, Hawaii’s Supreme Court ruled the law unconstitutional. This week, the Hawaii Superferry -- fresh out of options -- filed Chapter 11 bankruptcy.
Manufacturing, energy, transportation -- almost every sector of our economy that you can think of -- has been impacted by unelected, unaccountable environmentalist wackos. Yet for all of the environmental impact studies that have been generated, there has never been one that quantifies what environmental extremism has cost the America economy. But the largest cost... is that they have bankrupted our freedom.
Read the Background Material on the Morning Update...
• AP: Hawaii Superferry files for bankruptcy
Their name isn't as recognizable as Circuit City, Chrysler or GM, but Hawaii Superferry had a simple, clear business objective: They'd be the first company to ferry passengers and their cars between the Hawaiian islands that make up our 50th state. They were on track to do just that -- with two ferryboats -- until environmentalist wackos got a hold of their plans.
Doing what they do best, the wackos tied up the company in legal proceeding after legal proceeding, claiming that the ferry service would harm the environment. An environmental impact study was ordered, but the state legislature passed a law allowing the company to operate while the study was being completed. That prompted another lawsuit, and in March, Hawaii’s Supreme Court ruled the law unconstitutional. This week, the Hawaii Superferry -- fresh out of options -- filed Chapter 11 bankruptcy.
Manufacturing, energy, transportation -- almost every sector of our economy that you can think of -- has been impacted by unelected, unaccountable environmentalist wackos. Yet for all of the environmental impact studies that have been generated, there has never been one that quantifies what environmental extremism has cost the America economy. But the largest cost... is that they have bankrupted our freedom.
Read the Background Material on the Morning Update...
• AP: Hawaii Superferry files for bankruptcy
posted by Andy W. Rogers | 7:30 AM
3 Comments:
It wasn't environmentalist wackos that killed the Superferry, it was their own business plan. See: http://disappearednews.com/2009/06/superferry-bankruptcy-pre-determined.html
This was another case of Republicans doing favors for their cronies (Lehman - a neocon friend of Cheney's)
They got $130 million loan from U.S. Taxpayers, another $40 loan from the State of Hawai'i...and all without a completed business plan.
Then they skipped the legally required environmental review (which would have saved taxpayers $millions) and bought a ship that was unable to handle the rough channels between the islands, used so much fuel, and was so big that it could not operate at a profit.
THAT's why it went bankrupt. Look to Lehman buying the 2 ships at bargain basement prices and leaving the taxpayers in the lurch.
The law required an EIS. The Republican governor, Linda Lingle, told the ferry to forget it, she was exempting them. The first Supreme Court decision said she had no authority to do that.
So she called a special session of the Legislature to override the law and the court. The second Supreme Court decision said the special law was unconstitutional, illegally benefitting a single company.
The environmentalists didn't sink the ferry - Linda Lingle did. The winner was the rule of law.
Does Rush think state governors should be able to do whatever they damn well please with no regard to the state laws and constitution?
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