NIKKI HALEY’S CRONY CAPITALIST ADVENTURE CONTINUES
Remember Nephron Pharmaceuticals?
This company vowed four years ago to create 707 new jobs at more than $70,000 a pop – for which its top executives (who happen to be cronies of S.C. governor Nikki Haley) received hundreds of millions of tax dollars.
Must be nice, right?
We said this was a bad deal at the time … and it has been. As of last year, sources tell FITS only seventy employees were working in the firm’s West Columbia, S.C. headquarters – making an average of $45,000.
Of course Haley was able to use the company as a backdrop during a recent visit by former Florida governor Jeb Bush.
What’s the latest with Nephron?
According to news reports coming out of Orlando, Florida – where the company is headquartered – Nephron is laying off anywhere from 200-400 workers from its Sunshine State facility beginning in January.
As many as 180 of these jobs are likely to be moved to South Carolina, although it’s not clear whether they will be new positions – or whether the Florida workers will replace Palmetto State workers.
That’s been the modus operandi at Nephron since it opened its new facility.
“Nephron is crumbling, no South Carolina folks are left in upper management,” one source told us.
We’ll be sure to update our readers as soon as we learn more about the company’s plans … in the meantime, it looks as though the company’s cash crunch is ongoing.