Wednesday, February 17, 2010

"It is better to remain silent and be thought a fool than to open your mouth and remove all doubt."

I wonder if Lisa Eckelbecker tried to get a quote from Scott Brown regarding his claim that the stimulus didn't create a single job.  According to their website, IQuum is still hiring.  I hope it's with company profits next time.  With a $1.06 million grant and 9 new hires, that averages $117,777.78 a hire until you hit the quote "it used the money, in part, to hire nine people."  Once again, the workers take a little less.
As always, the comment section with the article was amusing, with the T&G readership showing a few different results with their long division skills.  Most assumed that this graphic meant that IQuum received $4.3 billion and created 1,389 jobs while retaining 3,333 jobs.   Guesses ranged from $500,00 to $9.1 million spent per new or retained employee.  The actual answer is $910,631.09 per job.

One poster (Elinor) got the total right per job, but believed that $4.3 billion went to IQuum and said: "I wouldn't invest my venture capital in such a inefficiently run company without seeing a solid fiscal plan and a solid action plan for achieving their goals. This may be why the banks are skeptical about lending and the company is having trouble raising capital."  Unfortunately for Elinor, she only read the article title and the graphic, proving that an slightly misinformed voter/investor is the most dangerous voter/investor of them all.  

Next time, please read the entire article before stuffing your foot in your mouth!

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