SUNY Plattsburgh 1964
An overlay of the contemporary SUNY Plattsburgh Campus compared to how it looked in 1964.
An overlay of the contemporary SUNY Plattsburgh Campus compared to how it looked in 1964.
My New York hometown was named after a Belgium chemist, Ernest Solvay. His process for producing soda ash was used by some enterprising Americans to found — with Ernest Solvay's approval — the Solvay Process Company, the cornerstone of the village where I grew up in the 1940s.
Having the Solvay Process Company a short distance from our street was both good news and bad. The factory employed thousands of people, including my father, my grandmother and an uncle who lived next door. The company also provided many services for village residents and in the early years was Solvay's social, medical and educational center.
However, the factory also belched smoke and filled the air with a gritty soot that undoubtedly was hazardous to our health. Waste from the Solvay Process Company, along with sewage from the nearby city of Syracuse, destroyed once-lovely Onondaga Lake. Polluting the lake forever tarnished the reputation of the Solvay Process Company, which in the 1920s became a division of Allied Chemical.
Because it was considered so important to the economic life of the area, the Solvay Process Company had its way on several controversial environmental issues, which is why, despite strong opposition, the factory dumped its waste along the west shore of Onondaga Lake. The company built huge holding areas that were surrounded by tall, concrete dikes. These were the most visible waste depositories, though at least one of the smaller plants operated by Solvay Process openly flowed its waste directly into the lake.
In the early 1940s there were eight large waste beds across the street of the New York State Fairgrounds on State Fair Boulevard, with a ninth waste bed under construction. Those who had opposed the dumping at the turn of the century predicted it was just a matter of time before at least one of the dikes containing the waste would burst. Most of those concerned, obviously, were residents of a section of the Town of Geddes known as Lakeland.
From a revenue perspective, the Intel stock investment was a good investment.
But that was as much dumb luck as anything, big AI money started chasing chip and memory manufacturers after getting cool feat about the AI developers themselves. The stock purchase confers no special voting rights that other stock holders have. But is a role of federal government to be stock pickers? Moreover, it seems like a potential conflict of interest for a regulator to be profiting directly over a regulated party, the federal government can do a lot of things to help or harm a corporation, but now they are making money off the deal.
I guess the flip side is that the government already was committed by Secure Enclave and CHIPS funding to invest in chip makers. If they are going to give businesses money, it makes sense for taxpayers to get some of the upside. Currently most economic development programs don’t directly benefit government agencies with corporate shares, though in many cases tax revenue does exceed the money invested – if you believe the corporation wouldn’t expand without the investment – which isn’t always true.
Should the federal government gotten Tesla shares for what it invested in that company early on?