Dante’s Divine Comedy

Some accused Carpenter of bending the rules to favor Abercrombie during last year's Democrat Party convention.

Governor Abercrombie signed two bills that would authorize up to $140 million in special purpose revenue bonds (see 11:26 am) for two companies in which Democrat Party Chairman, Dante Carpenter, has major interests. $100 million was allocated to assist BioEnergy Hawaii, and an additional $40 million for Carbon Bio-Engineers.

In 2010, Linda Lingle vetoed an earlier bond authorization that had been shepherded through the legislature by Carpenter. Then, Governor Lingle had cited  unresolved “issues associated with the patent and licensing of the technology.” This year, with Carpenter’s good friend Neil Abercrombie now Governor, things went a lot smoother.

Ironically, the bills were signed into law within days of the Governor’s blasting the $4 million paid to the NFL for staging the Pro Bowl in Hawaii. The Pro Bowl generates millions in national television coverage for Hawaii’s visitor industry. Even though $3 million of the $4 million was rebated in taxes to the State, and the event stimulated $28 million in new local business last year,  the Governor called the event “stupid.”

Abercrombie declared that it was time for Hawaii to “get its priorities straight.”

It was not explained exactly how the $140 million to the Governor’s political ally and friend would be used.

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8 responses

  1. Where’s the beef? Governors are supposed to reward their political cronies. And make secret deals with unions. And lie to everyone. And make ridiculous promises. And rant and rave. And refuse to answer questions. And …
    All those homeless should be disappearing any day now. And the prisoners on the mainland will all come home. And …

  2. There are priorities and then there are other priorities just like there’s stupid and there is the other stupid.

    You just gotta know what priority is stupid.

    I hope that is clear.

  3. To be clear–this does not mean that the companies are getting $140 million in public money.

    The revenue bond bills mean that the companies can, if they choose, borrow up to that amount via issuance of tax exempt special revenue bonds. They will have to pay the borrowing costs and pay back the principal over time. As I understand the process, no public money involved.

    But states have a certain allocation of revenue bonds they are allowed to issue, so there is competition for them. This despite the fact that often standard financing proves more attractive and the bond allocations go unused.

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