The Russians Have Cut Off Mitch McConnell's Cash In He has covered politics and government in Kentucky since May 1978. VA hospital let neighbor illegally decide veteran's fate, report says, Braidy Industries would bring hope and opportunity back to Appalachia and Kentucky, Braidy Industries gave former$6 million to sever ties with company, Kentucky planning to implement a $400 unemployment supplement, Your California Privacy Rights / Privacy Policy. However, in 2019, the plant closed its doors for good, leaving many in the community wondering what happened. Earlier this month, The New York Times reported the Treasury Department had allowed around $78 million worth of company shares to be transferred to a trust fund belonging to Deripaska's children, despite a previous statement from Treasury Secretary Steve Mnuchin claiming that the oligarch's children would "in no way benefit" from sanctions relief. We want their jobs to be in Kentucky.. No ones attorneys would ever advise them to do business that way. Invalid password or account does not exist. 2023 FOX News Network, LLC. It said, We were previously advised of these changes and it is our understanding they do not impact the current status of the project., Massie, R-Vanceburg, said Friday afternoon that he did not know what the deal is., He said he had no advance notice that Bouchard was stepping down and it took me by surprise as well., Asked if he was concerned about the project, Massie said, Ive always assigned startup odds to it. Steel Dynamics did not respond to emails and calls seeking comment on where its new mill would be located. More:Braidy Industries would bring hope and opportunity back to Appalachia and Kentucky. The Century Aluminum plant in Hawesville, Kentucky, is shutting down production due to rising energy costs. He also referred The Courier Journal to a statement McConnell released Tuesday that praised the Senate Intelligence Committee's members for keeping their investigation "out of thepartisan spotlight and focused on the facts.". Jason is the managing editor. Low 43F. Daily Kos moves in solidarity with the Black community. But I think that there needs to be a deep dive in how the policymakers inside the last administration are somehow the presidents or senior executives of the company that they encouraged direct investments in or let them out of the obligations, Beshear said. Site content may be used for any purpose without explicit permission unless otherwise specified. Tags: Associated Press, business, Kentucky, education. Both Stivers and Osborne said they did not know of any request from the company for more state assistance or why Bouchard stepped down. An elite leader of young people. LexCath hires St. Xavier assistant as football coach. LOUISVILLE, Ky. Gov. McConnell was among the advocates for lifting sanctions on Rusal, arguing that the deal with Treasury would maintain pressure on Deripaska personally without disrupting global aluminum supplies. Braidy officials have said they expect the plant to cost $1.7 billion and bring hundreds of jobs to the Ashland area. The deal was originally brokered under former Gov. I have not stepped down as the CEO of Braidy Industries, and I am the Chairman of the Board and CEO of Braidy Atlas., He added: After I complete my next flight, have a chance to kiss my wife and hug my kids, I will begin to prepare a longer statement for you and for the press. Steel Dynamics Inc. said this week that its board approved plans to move ahead with construction of the $1.9 billion plant, though it did not specify where other than to say it will be somewhere in the Southeast. Naturally, when you own large blocks of a corporation, you have substantial voting rights. accounts, the history behind an article. Be Nice. Civil & Environmental Consultants wins aluminum-plant contract He has a Masters in communications from the University of Kentucky and is a native of Maysville, Ky. Support my work with a digital subscription, Bidens diverse coalition of support risks fraying in 2024, CDC advises those at high risk for COVID mask up in these 3 KY counties. (This content is not subject to review by Daily Kos staff prior to publication. The county's Judge-executive, Johnny Roberts, told the newspaper the company gave him no assurances the plant would reopen after that. Russian Company Bankrolling Troubled Kentucky You dont need that. Major Aluminum Manufacturer Shuts Down - Manufacturing Matt Bevin, but current Gov. Rusal, the aluminum company partially owned by Russian oligarch Oleg Deripaska, announced plans to invest around $200 million to build a new aluminum plant Kentucky He said that management was always looking for ways to cut costs and improve efficiency, but these efforts were ultimately unsuccessful in keeping the plant afloat. aluminum A large aluminum plant in Kentucky is temporarily halting production and laying off more than 600 workers due to rising energy costs. The Evergreen State takes the top spot again in the U.S. News Best States ranking on the strength of its tech sector and other industries. Someone didnt deliver something quite recently, in any event. The Unity spokesperson said Wednesday that the state will recoup its investment when the deal with Steel Dynamics closes, and Steel Dynamics said Unity employees will provide expertise to the project. I will continue, if we think that there is any opportunity there to, to support it.. Gov. There's a good end to that aluminum plant story at least. While the initial proposed site is too small for the project, the area has additional sites that would work, a local official said Thursday. Many of the former employees were unable to find work elsewhere and had to leave the area in search of employment. Matt Bevin (R) boasted was as significant as any economic deal ever made in the history of Kentucky.. Be Truthful. This governors office is committed to seeing it through and you know its a project that is going to mean generational change in that area., The only statement from Beshears office came through his spokesman, Sebastian Kitchen. Some experts have claimed that it is possible Deripaska could use his ties with these companies to exert some influence over Rusal. The U.S. Senate voted down a measure opposing the plan to end thesanctions against Rusal and EN+ Group in January 2019. HAWESVILLE, Ky. (AP) A large aluminum plant in Kentucky is temporarily halting production and laying off more than 600 workers due to rising energy costs. ), Surprise! "Taken as a whole, Manafort's high-level access and willingness to share information with individuals closely affiliated with the Russianintelligence services, particularly Kilimnik and associates of Oleg Deripaska, represented a grave counterintelligence threat," it also says. The business owners also emphasized the importance of the aluminum plant to the local economy. We'll send breaking news and news alerts to you as they happen! We are incredibly excited to announce this meaningful growth opportunity, which is aligned with our existing business and operational expertise, Mark D. Millett, chairman and CEO of Steel Dynamics, said in a news release. There are just too many unanswered questions, and too many people from McConnells orbit who have been exposed as playing a big role in this deal for him to continue to play dumb," McNee said. Andy Beshear is requesting a deep dive into the project. After working as a DJ and program director, he knew he wanted to come home to Lexington and try his hand in public radio. A large aluminum plant in Kentucky is temporarily halting production and laying off more than 600 workers due to rising energy costs. Kentucky aluminum plant Notwithstanding anything herein to the contrary, the Chairman, President and/or Chief Executive Officer may be removed, either with or without cause, solely by an affirmative vote of seventy (70%) percent of the members of the Board of Directors, the bylaws read. John grew up in the area and was able to provide us with valuable insight into the dynamics of the plant and its eventual closure. Beshear on Thursday said it will go down as the shadiest economic development deal in Kentuckys history.. They all expressed disappointment and frustration with the situation, noting that the closure had put a strain on their businesses. The company planned to have the mill open in 2020, but underwent a management shakeup and name change in its long and ultimately unsuccessful quest to raise sufficient capital to proceed. Please avoid obscene, vulgar, lewd, This, in turn, resulted in a decrease in consumer spending, as people no longer had the means to purchase goods and services. The Republican-led Senate committee released a report Tuesday that detailed extensive connections between President Donald Trump's 2016 campaign advisers and people with ties to Russian President Vladimir Putin's regime. Kentucky gave a $15 million investment into the project in 2017 after Braidy Industries, now called Unity Aluminum, promised to build a massive aluminum mill near Ashland. Rusal will have a 40 percent stake in the facility. See latest map, NFL Draft: Reaction to Tennessee Titans taking Kentucky quarterback Will Levis, After being drafted by Commanders, Chris Rodriguez knows his mom would be proud. The Committees findings, along with other information recently released by the Intelligence Community, confirm what we already knew: Russia, China, Iran, and other foreign actors want to influence our politics, interfere with our elections, and stoke fear and division among Americans," McConnell said. Putin got the sanctions lifted, and Mitch McConnell got played for a fool. "The Committee found that Manafort's presence on the Campaign and proximity to Trump created opportunities for Russian intelligence services to exert influence over, and acquire confidential information on, the Trump Campaign," the report says. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. All rights reserved. "I guess if it hadnt been for the cost of power, we would still be rocking and rolling.". This content was created by a Daily Kos Community member. A U.S. Securities and Exchange Commission report Braidy filed in June said Rusal had provided $75 million so far forthe mill project as of Dec. 31, 2019, but had discontinued further contributions until Braidy secures another $300 million in funding. Matt Bevin, citing a desperate need for the hundreds of well-paying jobs the company promised to bring, invested $15 million of state money in the company, effectively making all taxpayers partial owners. The plant provided well-paying jobs and allowed people to stay in the area rather than having to move away in search of employment. We celebrated that, said Andy Meserve, president of United Steelworkers Local 9423. Matt Bevin, KY legislators got played badly on aluminum plant. Andy Beshear has released documents related to Kentuckys investment in Braidy Industries. I still remain cautiously optimistic.. Quotes displayed in real-time or delayed by at least 15 minutes. Andy Beshear, have said they hope the mill project will succeed and create job opportunities in the commonwealth. Announces New Aluminum End Manufacturing Facility Im sorry for the stress that was created in Ashland yesterday. Keep it Clean. or redistributed. Within weeks, the U.S. government had formally lifted sanctions on Rusal, citing a deal with the company that reduced the ownership interest of its Kremlin-linked founder, Oleg Deripaska. The company, though, doubled down on its decision Friday afternoon in a statement from Charles Price, who the company identified as the now-chairman of Braidys Board of Directors. BOWLING GREEN, Ky,, Jan. 07, 2021 (GLOBE NEWSWIRE) -- Ball Corporation has chosen Bowling Green, Kentucky, as the location of the companys new aluminum end manufacturing facility. However, this investment was not enough to revive the plant, and production levels continued to decline. Politicians used the closure as a political tool, blaming each other for the loss of jobs and trying to score political points in the process.

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