San Jose’s Green Vision program may have hit a snag. Bob Garzee, one of the key players in the city’s push to create a network of public-private partnerships, has been sued by Union Bank of San Francisco. Garzee, the CEO of Synegry EV, Inc., had been planning to create a technology incubator in the city with which his company could develop electric vehicles. But when his line of credit came up for review late this June, it was denied. Now his line of credit is due, and the bank is demanding that he pay back $73,322.
The bank claims that his company’s economic circumstances do not warrant renewal of his credit line. Garzee argues that he has tried to renegotiate with the bank, but that they have rebuffed all his efforts. Meanwhile, he claims, over 30 companies have already expressed an interest in relocating to the Electric Vehicle Development Center that he has planned.
Nancy Klein of the city’s Economic Development Office agrees that proposed center is in its “nascent stages,” but she called Garzee’s role “integral” to the center’s development. Jim Robbins, Jim Robbins, former head of the Environmental Business Cluster, agrees. He calls Garzee’s role “critical,” adding, “It was his idea, and he has the technical ability to make it work.” That may be, but with Synergy EV’s future in the balance, Bob Garzee may not get the chance.
Read More at the Business Journal.
Until we are willing to get over the nuclear hysteria and build nuclear plants electric cars make little sense.
As an aside, can Green Vision go around the county and fix broken sprinkler heads in and around street landscaping, and retail and commercial complexes? I see broken water heads every day spewing thousands of gallons of water right down the drain.
I agree regarding a nuclear power plant the only problem is the cost projected for a new plant is anywhere from 9 to 15 billion dollars.
That’s a bucket load of money for power generation.
You wouldn’t be able to float a bond for those kind of dollars and that’s not even thinking of the time for construction. How much did the Bay Bridge cost after endless delays? You can bet it would take at least ten years to get all the clearences and designs
worked up for a nuke plant. That’s before you even pour a bucket full of concrete.
Think it would be easier to give home owners incentives to install solar panels and wind turbines
which exist now, to increase power for the state.
Products are all ready on the shelves and there’s not any need to revamp the power grid (new lines poles etc) for domestic production.
I agree with you on the costs and delays. The costs and delays are largely driven by frivolous endless lawsuits and litigation costs. Take most of the lawsuits and attorneys out of the picture and you could build one much cheaper in a much shorter time.
Solar and wind are good ways to augment our power supply but we are stuck with either fossil fuels or nuclear for a long time.
great post, thanks
hmmm…seen this situation before with finances…
http://www.taxpravo.ru/search?q=robert+garzee