From harry mattachine (Wed 7/1/2009 1:22 PM)
Who's buying what Les Otten's selling -- this time?
http://www.maineenergysystems.com/company_information.htm
Les Otten, a marketing man for sports venues, may run for governor as a Republican. So far, I haven't heard of his little Bethel company having any positive economic impact; even he says he's "willing to invest $10 million" with no certainty it won't fold. Do we want to share his gambles if he's Governor?
His website says it costs $15,300 to buy and install the Bosch system required (approx. double US-made pellet systems) It would take big government subsidies to get anybody to do it ; source(s) of such subsidies never mentioned. Read between the lines: http://www.bethelcitizen.com/story.php?storyid=6269 "...[Otten] has "a deep belief that government is here to support business, and business wasn't created to support government - and I think we've got it a little bit wrong."
"...Otten has declined to comment on whether he would run as a Republican, Democrat or independent. He said he'll announce his political affiliation at the news conference...." Why?
See what his peers say about him: http://www.mainebiz.biz/news42838.html "...another example of Otten's greatest strength and his greatest weakness - his ambition....";
See esp. "Ups and Downs" -- he raised $265 million in an IPO; then "poof" (sounds like Wall Street and AIG execs.): "...By 1997, when Otten raised $265 million in an initial public offering of American Skiing Company, his majority share was valued at $270 million. And then, in an epic stroke of bad luck, a string of warm winters dried up revenue at a number of American Skiing resorts. Burdened by debt from its rapid expansion, American Skiing was never able to recover...."
http://www.timesargus.com/apps/pbcs.dll/article?AID=/20080513/NEWS02/805130364/1003/NEWS02 Maine Conservation Commissioner Patrick McGowan, who's also a member of the wood-to-energy task force, wonders if Mainers instead will choose less-costly pellet-burning stoves over central heating systems. "It's going to have to be a hell of a selling job to get people to tear out their oil furnaces and convert," said McGowan. "But I think Les's motto is, go big or go home."
CONCLUSION: Les Otten has shown he's willing to try going big (esp. with other people's money) and, if it doesn't work, he goes home; who loses, if he does this as Governor?
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