Dec 13, 2009


Philip R. Klein makes this promise concerning Eastman's decision to discontinue a gasification project in Jefferson County:
Well - we are not going to sit here and talk about why Eastman is not coming. It is a waste of time.
Philip contradicts himself with the rest of the article:
The presser that we got from the company says that the economy is bad. Our sources tell us also they were looking for and GOT the way out of some contracts. They seemingly felt Jefferson County was not a real great place to do business due to the (1) uneducated workforce, (2) taxation, (3) political climate (not our words theirs) and (4) school districts and education opportunities for the Eastman families that would relocate to this area.
Compare Philip's version with the real reasons given by Eastman:
Eastman Chemical Company (NYSE:EMN) announced today that it has decided to discontinue its Beaumont, Texas, industrial gasification project.  This decision was made due to a number of factors, including high capital costs, the current and foreseen reduced spread between natural gas and oil and petroleum coke prices, and continued uncertainty regarding U.S. energy and environmental public policy.   
This is verified by Eastman's third-quarter financial report:
  • Coatings, Adhesives, Specialty Polymers and Inks: Sales revenue declined by 18 percent
  • Fibers: Sales revenue declined by 5 percent
  • Performance Chemicals and Intermediates: Sales revenue declined by 40 percent
  • Performance Polymers: Sales revenue declined by 36 percent
  • Specialty Plastics: Sales revenue declined by 21 percent
Philip writes:
Now - back to the perfect storm.

Ah yes - what we have been predicting is coming true - the perfect storm!
Yes, let's go back to Philip's prediction. From an article of March 6, 2008, entitled "Perfect Political Storm" (emphasis is mine):
The Perfect Political Storm brewing [sic].  The days of we just are democrats and we all get along seem to be coming to a close.

"We are going to need Gilbert to step in soon," said a long time elected official in Jefferson County.

So far, County Judge Walker has kept a lid on things. He has got Arnold where he wants him, Domingue is too scared to buck the Walker gang because he wants to be county judge and Bo is carrying water for Walker to the Black Community [sic].

Clearly, [Thurman] Bartie is in.
Did that really come true, Philip?

1 comment :

Anonymous said...

Corruption in Jefferson County triggered worldwide recession. Just ask Phil.