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Resource ID: #17668
Subject: Fraud
Source: Mother Jones
Affiliation: 
Date: May/June

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Description

A Mother Jones investigation focuses on how "a private shipbuilder received $429 million in "location incentives" to save an abandoned naval yard in South Philadelphia." The report finds that the deal, under which Kvaerner ASA, a Norwegian shipbuilding company, received public subsidies, "was flawed from the start." The story reports on how Kvaerner closed the shipyard without completing even the first ship it was working on. The investigation uncovers a "review of the project by the state auditor general [which] found that the company had spent almost $2 million on "categorically unreasonable" perks for its own officials."

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