Allied Titanium Hits Financing Speed Bump
Allied Titanium has secured some of the machinery necessary for its expansion into Sequim, but the company is having trouble getting banks to finance the expansion. CEO Christopher Greimes said:
“We've been operating in China for years; we're a 7-year-old company. But banks in the U.S. are looking at us as if it's a brand-new business that's just starting up, which makes it tough to get funding...“This doesn't necessarily change what we're going to do. We just have to get a little more creative about finding financing and are going to have to self-finance more than we thought...It's frustrating, because I can walk into any car dealership — any car dealership — and walk out with a new car. But trying to get a machine that will actually make something, essentially spit out money, is like pulling teeth.”
“We've been operating in China for years; we're a 7-year-old company. But banks in the U.S. are looking at us as if it's a brand-new business that's just starting up, which makes it tough to get funding...“This doesn't necessarily change what we're going to do. We just have to get a little more creative about finding financing and are going to have to self-finance more than we thought...It's frustrating, because I can walk into any car dealership — any car dealership — and walk out with a new car. But trying to get a machine that will actually make something, essentially spit out money, is like pulling teeth.”
posted by Tom Harper at 8:31 PM
14 Comments:
U.S. banks are assholes these days.
BBC, yup, and combine that fact with the local dicks that manage our backs here...we're screwed.
Our only hope of feriner money!
This state sure isn't making it easy for people to get into the pot business. Ignore any rumors on the street that I took a hit off of Jack's pipe on my birthday yesterday.
And it may or not be true that I drank some of Rod's 'apple pie' moonshine during our social hour.
Oh, This is that "Totally Green.. Can't Get Any Greener Than This " industrial proposal for Sequim area?
Yeah, It is amazing. A material that just appears out of the ground all by itself. Without any machinery! It is like magic.
And then, it refines itself, forms itself into ingots, and levitates itself to where ever humans want it. No energy sources like those nasty fossil fuels involved, at all! Truly amazing.
Once it gets itself to the new Sequim area facilities, "workers" will just show pictures of what they want the titanium to turn itself into, and POOF!, it does. No actual tools, machinery or work needed.
And once turned into whatever the company wants it to, the owners of the company just need to politely ask the products to transport themselves to China, Japan, or Walmart. Again, none of those less-than-Green fossil fuel belching trucks needed!
Today's "Green". Just like magic.
And, as it appears in Seattle:
http://blog.seattlepi.com/seattlepolitics/2014/06/30/the-return-of-mr-floatie-falsetto-voiced-symbol-of-victoria-sewage/
Mr. Floatie is back! Just in time for a BIG tourist weekend! Be sure to fill up some jugs with tap water because what comes out of the faucets will be all chloriney/tourist grade in a day or two. It smells like ca-ca (not literally, it's a toxic chemical smell) right now, the anticipation is just so exciting, I can't wait! The smell on the faces of guests, when they smell it, PRICELESS! Take that mother-in-law! Let me know how the fireworks are next year in Boise! (every other year thing, I'm stressed).
And I sure hope the PDN does their annual early summer update on the dead serial killer Israel Keys with his giant picture!
We have a big family thing planned for North Beach, it was so nice and peaceful last summer, thanks PDN!
8:48 - ROTFL....Thars TITANIUM in dem thar hills!
...gasp. Ones wood prices go up, it's Green Titanium(tm) time! Every wonder why it's called "Blue" Mountain?
It's not silver! Hello!
;)
Port Angeles population drops. Big surprise, there.
Typical PDN reporting. Moron lapdog of a reporter, Jeremy Swartz who just regurgitates what ever he is told without question, wrote this gem.
Says Clallam ranked 33 in the state counties for growth. Wow! What does that mean? Oh, there are 39 counties in the state, and we're near dead last.
Hear, DEAD!
Hey! Billy! Belated Happy Birthday!
Take a victory run around the park on that mower? Another year.
81 at my pad, a mile from the water...official temp. is 66 LOL.
Yeah, Port Angeles lost 30 whole people. Better put up those "closed" signs! At 30 people a year this town will be a ghost town in 637 years!!
@ 4:55
I guess you don't spend much time in Port Angeles, and haven't for awhile.
You can go downtown pretty much any time of the day, and see virtually NO ONE on the sidewalks. Many of the storefronts in town are empty, and have been for a long time.
If it weren't for the grant money coming into town, and the jobs created by that tax money (hear WELFARE)hiding the true situation, Port Angeles WOULD be a ghost town, now.
How long can Port Angeles continue to be propped up with tax money?
Actually I live in Port Angeles. I even went downtown Monday and Wednesday of this very week. You know what? There were people walking around. Parking was a bitch. A majority of the retail space was full.
I'm not going to claim everything's great in Port Angeles. There should be a lot more foot traffic through downtown. There could be more stores filled. There are some eyesores that should be torn down. New construction by private companies (not from government grants in other words) is anemic. The city council is making one bad decision after another.
But I have to laugh at people when they claim that retail space downtown is "mostly" or "half" empty... It's not. No, really. You just have to go downtown to see that. To match your own accusation, have you gone downtown and compared the ratio of empty buildings to full ones? I guess you don't spend much time in Port Angeles, and haven't for awhile.
@ 11:48 AM
Oh, come now. ANYBODY can see Port Angeles has got drastic problems.
In todays news about US economy:" Dow index closes above 17000 after Labor Department tallies 304000 new jobs in April, the strongest monthly gain since January 2012."
And in Port Angeles? Our headline is that we are at the bottom of the entire State for growth. Our population is dropping, as people leave for a better life anywhere else. MANY storefronts in Port Angeles are empty, and have been for a long time.
Laugh if you want. I'm not.
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