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Posts Tagged ‘Emerging Technology Fund’

Another look at Perry’s slush fund

Like everything with Rick Perry, there’s less to it than meets the eye. Texas Gov. Rick Perry has distributed $205 million in taxpayer money to scores of technology startups using a pet program designed to bring high-paying jobs and innovation to the nation’s second most-populous state. But a closer look at the Texas Emerging Technology […]

One place where a little austerity would do some good

Rick Perry’s slush funds get no love in the opening budgets. The House and Senate’s initial two-year budgets would force Perry’s deal-closing Texas Enterprise Fund to exhaust its last $7 million and throttle back on state film incentives and subsidies for major sporting events. The Emerging Technology Fund, which subsidizes high-tech commercial ventures, would face […]

From the “If pigs had wings” department

It’s never a bad time to construct a counterfactual. What if Rick Perry had never said, “Oops”? What if he could have, for Christ’s sake, just remembered that he had wanted to gut the Department of Energy? What if he hadn’t climbed into a tan coat and Brett Favre jeans and released that abominable Youtube […]

Hey, remember Perry’s Emerging Technology Fund?

It’s still a mess, and a cookie jar for his cronies. The founders of Convergen LifeSciences Inc. had invested only $1,000 of their own money when they asked the State of Texas in 2009 to give them $4.5 million to help develop a new lung cancer-fighting drug using nanotechnology, according to documents the Austin American-Statesman […]

Auditor criticizes Emerging Technology Fund

The State Auditor has issued a report saying that the Texas Emerging Technology Fund needs more transparency. I know, I’m as shocked as you are. The report recommended that the state’s 17-member advisory board — volunteers from the technology community who advise Perry and legislative leaders on the grant applications — should be more transparent […]

House votes to spend some Rainy Day funds

From the Trib: House lawmakers preliminarily passed two bills Thursday that together will balance the state’s budget for the remaining months of the fiscal year through a mix of spending cuts and use of the Rainy Day Fund. The cuts were in the first bill, HB 4, which passed by a party-line vote of 100-46. […]

Sacrifice is for the little people

You almost have to admire the gall. Milton Rister, director of administration in Gov. Rick Perry’s office, just asked Senate budget writers for a net increase of $81.5 million in state funds for the next two years. If I took accurate notes — and Finance Committee Vice Chairman Chuy Hinojosa, D-McAllen, chided Rister for not […]

The state of the state

Is strong, according to Rick Perry. So strong, in fact, that we’re going to kick the legs out of social services, because clearly we don’t need them. When the state faced a budget crisis in 2003, Gov. Rick Perry’s office released a budget proposal that was full of zeros, stating that each agency would have […]

State auditor to look at Emerging Technology Fund

State Auditor John Keel will perform an audit on the state’s Emerging Technology Fund to see if the money is being used and distributed properly. State Auditor John Keel said Wednesday that his office will review the monitoring of the funds, compliance of the companies and universities receiving the taxpayer money, and internal controls over […]

More on Perry’s self-appropriation of Emerging Tech funds

The Statesman moves the ball forward on the Emerging Technology Fund story and Governor Perry’s self-appropriation of its funds. Two points from the story stand out to me. Gov. Rick Perry and the state’s legislative leaders awarded a $4.5 million grant to a cancer treatment company launched by David Nance, a close Perry friend and […]

Perry appropriates Emerging Tech funds on his own

Procedures? Advisory boards? Who needs ’em? Gov. Rick Perry approved a $4.5 million award from the state’s technology fund to a company founded by a major campaign donor despite the company’s failure to win the endorsement of a regional screening board, The Dallas Morning News has learned. The money was awarded in August to Convergen […]

Disclosure for thee, but not for me

You don’t need to know. Gov. Rick Perry said [Monday] that he wouldn’t release documents revealing investors in recipients of Texas Emerging Technology Fund recipients. […] The governor’s office is told of investors in the tech fund applicants, a staffer has said. But Perry’s office has refused to release those documents — a stance he […]

It’s cronies all the way down

Is there anything Rick Perry does that isn’t for the benefit of himself and his cronies? When Gov. Rick Perry announces that a company will get money from the Texas Emerging Technology Fund, he often describes it as an important investment in the state’s future. Behind the scenes, some of the governor’s biggest political supporters […]

Perry meddles again

All of his shenanigans with the Texas Forensic Science Commission have kept Governor Perry busy lately, but not so busy that he can’t mess with other things, too. Gov. Rick Perry plans to reshuffle the board leadership of the state’s $88 billion teacher retirement system, an unexpected move that has reignited concerns among the members […]

A&M and the Emerging Technology fund

Loren Steffy tells us about politics infecting research at Texas A&M. And Rick Perry is involved. Shocking, I know. In January, the state awarded A&M $50 million from the Emerging Technology Fund, which purports to benefit private-sector technology startups, for the National Center for Therapeutics Manufacturing, which plans to develop new vaccines. Unfortunately, the infusion […]

Senate panel approves budget

As you know, the Lege has one task they absolutely must do every biennium, and that’s pass a budget. The Senate Finance Committee has taken its first step towards doing that. A two-year state budget that accepts federal stimulus money and increases spending by 7.3 percent, but hoards cash reserves, was approved by Senate budget […]