NM Venture Cap Program Continues Losses

This isn’t how anyone would invest funds for their child’s college tuition and expenses.  But New Mexico, under the Richardson/Denish administration, has invested state funds in a fish company, an electric libretto designer (appropriately named “Figaro”) and a company that uses crushed glass to produce toilet bowl scrubbers (what, you don’t have one of those in your home?).  Nearly $400 million has been committed to a program most known for its bad bets on Eclipse Aviation and Advent Solar (remember them?)

The latest report shows not much has changed in this bad bet for taxpayers.  Word is the new State Investment Council and State Investment Officer are giving this Richardson favorite a much-needed hard look.  Here’s the report from New Mexico Watchdog.

Print Friendly, PDF & Email

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.