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WZTV FOX 17 - Top Stories
You've probably never heard of companies like Streamweaver and Swingpal but in a round-a-bout way you helped pay for them.
Those companies are among the 76 that have received money from a $200 million dollar program created by Governor Phil Bredesen's administration called TNInvestco.
To date the program has created about 752 jobs.
The Lascassas Republican has been one of TNInvestco's biggest opponents and a new audit is bringing more concerns.
The report from the State Comptrollers Office says there are serious problems with the way the program is managed.
They include:
* A lack of safeguards to ensure companies are eligible
* Inadequate reporting and documentation
* The potential for fraud, waste and abuse
Those are things Carr has long feared because much information about the companies involved isn't available to the public.
"Cronyism," said Carr. "We have such a large pot of money the temptation is too great for my colleagues and those men and women in business to get right up against that moral and ethical and subsequent legal line."
Carr believes the audit is one more reason why the program needs to go or needs changes.
Governor Bill Haslam says his administration hasn't made a decision on TNInvestco's future.
The program has about $64 million left to hand out to companies.
"It's less revenue to the state. That's why we'll be evaluating the true cost to the state and how many jobs we've produced out of those investments," said Haslam.
Those companies are among the 76 that have received money from a $200 million dollar program created by Governor Phil Bredesen's administration called TNInvestco.
To date the program has created about 752 jobs.
The Lascassas Republican has been one of TNInvestco's biggest opponents and a new audit is bringing more concerns.
The report from the State Comptrollers Office says there are serious problems with the way the program is managed.
They include:
* A lack of safeguards to ensure companies are eligible
* Inadequate reporting and documentation
* The potential for fraud, waste and abuse
Those are things Carr has long feared because much information about the companies involved isn't available to the public.
"Cronyism," said Carr. "We have such a large pot of money the temptation is too great for my colleagues and those men and women in business to get right up against that moral and ethical and subsequent legal line."
Carr believes the audit is one more reason why the program needs to go or needs changes.
Governor Bill Haslam says his administration hasn't made a decision on TNInvestco's future.
The program has about $64 million left to hand out to companies.
"It's less revenue to the state. That's why we'll be evaluating the true cost to the state and how many jobs we've produced out of those investments," said Haslam.
Tuesday, November 13 2012, 10:53 PM CST
Tennessee News
Prince Edward presents Edinburgh's awards in Tenn.
May 23, 2013 22:00 GMT
By ERIK SCHELZIG Associated Press
NASHVILLE, Tenn. (AP) -- Queen Elizabeth's youngest son, Prince Edward, is visiting Tennessee to promote one of the British royal family's charities, the Duke of Edinburgh's awards.
The prince presided over an awards ceremony at the governor's mansion in Nashville on Thursday for the first batch of young Tennesseans to participate in the leadership and character program.
About 80 youths received the award by participating in community service, skills development, physical fitness and adventurous journeys through the Boy Scouts, Boys and Girls Clubs, LEAD Academy, Montgomery Bell Academy or the Miss Tennessee Scholarship Organization.
Following the event, Gov. Bill Haslam and first lady Crissy Haslam invited the awardees and their families to tea inside the governor's residence. Later on Thursday, the prince was scheduled to headline a black-tie gala at Montgomery Bell Academy in Nashville.
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