No. of Recommendations: 0
Branson continues to give the finger to New Mexicans.

The deal was sold to New Mexicans in classic Richard Branson fashion. If taxpayers would build the colorful British businessman a $209 million futuristic spaceport, he would make New Mexico the launching point for a space tourism business catering to the rich and famous.
Now, with Spaceport America nearly complete but still mostly empty, a Virgin Galactic official says the company will reassess its agreement if lawmakers don't pass liability exemption laws for its suppliers, raising the possibility it could take its spacecraft elsewhere.
And state officials acknowledge the company — which has yet to post a deposit for what is supposed to be a $1 million-a-year lease — could walk away from the quarter-billion-dollar project.

I never was in favor of this boondogle. I wish Branson would take his business else wheres. This project ain't gonna generate any significant tax revenue. Lets just write the $296 milion off debt as another poor government dcision. The upside is that we would gain a 1/4 of a percent reduction in sales tax that passed to fund this project 4 years ago.
Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.