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Thursday, January 22, 2009

Boscov's Bailout On the Ropes

Butler County joined with Snyder County yesterday in rejecting the proposed loan for Boscov's (HT Capitol Ideas). This puts state officials back to the drawing board to find financing for the plan - though something tells me they will find some taxpayer money lying around, despite the current shortfall.

Commissioner James Kennedy said the rejection was not a vote against Boscov's. Kennedy said the board is concerned whether it is fair to help the chain but not help other businesses that are struggling. 
More or less he is on target - government should not attempt to pick winners and losers, which is the point of my commentary on the Boscov's Bailout.

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