First Wind Payback? Received $115 million Stimulus Money.

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ldwight
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Joined: 10/07/2005 - 12:01am
First Wind Payback? Received $115 million Stimulus Money.

$7,100 2008 election cycle

ADAMS, KURT
YARMOUTH,ME 04096 FIRST WIND/ATTORNEY 10/28/08 $2,100 Obama, Barack (D)
ADAMS, KURT W
YARMOUTH,ME 04096 FIRST WIND/ATTORNEY 9/30/08 $1,000 Pingree, Chellie (D)
ADAMS, KURT W
YARMOUTH,ME 04096 FIRST WIND/SENIOR VICE PRESIDENT 10/28/08 $500 Allen, Tom (D)
ADAMS, KURT W
YARMOUTH,ME 04096 FIRST WIND/ATTORNEY 7/31/08 $500 Pingree, Chellie (D)
ADAMS, KURT W
YARMOUTH,ME 04096 FIRST WIND/LAWYER 6/25/08 $500 Cote, Adam (D)
GAYNOR, PAUL J
NATICK,MA 01760 FIRST WIND/EXECUTIVE 6/4/09 $1,000 Inouye, Daniel K (D)
GRANT, CAROL
NEWTON CENTER,MA 02459 FIRST WIND/SENIOR VICE PRESIDENT, E 5/26/09 $500 American Wind Energy Assn
VAVRIK, STEVE
PROVIDENCE,RI 02906 FIRST WIND/VICE PRESIDENT 6/1/08 $250 Skelly, Michael Peter (D)
WILBY, DAVE
BRUNSWICK,ME 04011 FIRST WIND/DEVELOPER 11/12/08 $250 Collins, Susan M (R)
WILBY, DAVID
BRUNSWICK,ME 04011 FIRST WIND/DIRECTOR OF DEVELOPMENT 5/13/09 $250 American Wind Energy Assn
WILBY, DAVID MR
BRUNSWICK,ME 04011 FIRST WIND/DIRECTOR OF DEVELOPMENT 12/1/08 $250 American Wind Energy Assn

ldwight
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http://www.sec.gov/Archives/e

http://www.sec.gov/Archives/edgar/data/1434804/000104746908008563/a21868...

First Wind Principal Shareholders a/o August 2008 per IPO statement above:

D. E. Shaw MWP Acquisition Holdings, L.L.C.
138,934,111 138,934,111
Madison Dearborn Capital Partners IV, L.P.
138,934,111 138,934,111
UPC Wind Partners II, LLC
23,433,905 23,433,905

Total—principal securityholders
301,302,127 301,302,127

Paul Gaynor
1,118,709 1,118,709
Michael Alvarez
256,971 256,971
Timothy Rosenzweig
714,468 714,468

Total—named executive officers
2,090,148 2,090,148

ldwight
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Joined: 10/07/2005 - 12:01am
In January 2006, the D. E.

In January 2006, the D. E. Shaw group sold 28 1.5 MW General Electric turbines to Evergreen Wind Power, LLC, our operating subsidiary that holds our Mars Hill assets. In connection with this sale, the D. E. Shaw group received a reimbursement of the consideration paid for the turbines/additional membership interests in First Wind Holdings, LLC as well as a cash payment of $5.0 million, representing a fair market value adjustment to the price originally paid by the D. E. Shaw group for the turbines.

ldwight
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Joined: 10/07/2005 - 12:01am
Who/what is D. E. Shaw???

Who/what is D. E. Shaw??? Hedge Fund located in New York

The D. E. Shaw group is a global investment and technology development firm with more than 1,600 employees; approximately $29 billion in investment and committed capital as of July 1, 2009; and offices in North America, Europe, the Middle East, and Asia. Since its organization in 1988, the firm has earned an international reputation for financial innovation, technological leadership, and an extraordinarily distinguished staff.

The firm has a significant presence in many of the world's capital markets, investing in a wide range of companies and financial instruments within both the major industrialized nations and a number of emerging markets. Its activities range from the deployment of investment strategies based on either mathematical models or human expertise to the acquisition of existing companies and the financing or development of new ones.

The firm was founded in 1988 by David E. Shaw. While Dr. Shaw remains involved in certain higher-level strategic decisions affecting the investment management businesses of the D. E. Shaw group, he is no longer actively involved in their day-to-day operations. The vast majority of his time is now devoted to his role as chief scientist of D. E. Shaw Research, LLC, in which capacity he leads an interdisciplinary research group in the field of computational biochemistry and personally engages in hands-on scientific research in that field. He also holds appointments as a Senior Research Fellow at the Center for Computational Biology and Bioinformatics at Columbia University and as an Adjunct Professor of Biomedical Informatics at Columbia's medical school....

Dr. Shaw was appointed to the President's Council of Advisors on Science and Technology by President Clinton in 1994, and again by President Obama in 2009. He was a member of the Study Group on Presidential Science and Technology Advisory Assets at the Center for the Study of the Presidency, and has testified before several Congressional committees and the National Science Board on various public policy issues related to science, technology, and education, and to their respective roles in ensuring national economic competitiveness. Dr. Shaw is also a member of the executive committee of the Council on Competitiveness, and co-chairs the steering committee for the Council's federally funded High-Performance Computing Initiative, which aims to strengthen the nation's scientific supercomputing infrastructure.

ldwight
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Joined: 10/07/2005 - 12:01am
How much and to whom has D.E.

How much and to whom has D.E. Shaw donated to political figures?

$286,101 almost exclusively to Democrats and much of it to Obama or the campaign http://www.opensecrets.org/
donor lookuup

ldwight
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Joined: 10/07/2005 - 12:01am
With me so far??? There is

With me so far???

There is much more...

ldwight
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Joined: 10/07/2005 - 12:01am
Kurt Adams formerly head of

Kurt Adams formerly head of Maine's Public Utility commission is Senior Vice President, Transmission Development at FirstWind. He recently accompanied The Gov on the lobbyist paid trip to Spain, Denmark and Norway. The primary sponsor was Iberdrola. Iberdrola is the parent company of Central Maine Power. It is looking to buy FirstWind's turbines. By the way Kurt Adams was one of the members of the commission that split up CMP which eventually was sold to Iberdrola. Ironic, that now Kurt Adams is in the business of getting the transmission lines put in to the wind turbines that would make them profitable so Iberdrola would buy them.

Paul Gaynor
43 Chief Executive Officer, President and Director
Michael Alvarez
52 Executive Vice President and Chief Operating Officer
Michael Metzner
45 Executive Vice President and Chief Financial Officer
Evelyn Lim
36 Senior Vice President and General Counsel
Kurt Adams
42 Senior Vice President, Transmission Development
Timothy Rosenzweig
40 Senior Vice President, Finance
Zaid Alsikafi
32 Director
Richard Aube
39 Director
Patrick Eilers
41 Director
Peter Gish
46 Director
Stephen Key
64 Director, Chairman of the Audit Committee
Bryan Martin
40 Director, Chairman of the Compensation Committee
Jimmy Mogg
59 Director and Chairman of the Board and the Nominating and Corporate Governance Committee

ldwight
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Joined: 10/07/2005 - 12:01am
More on Kurt Adams: Kurt

More on Kurt Adams:

Kurt Adams has served as our Senior Vice President, Transmission since 2008. Prior to joining us, Mr. Adams served as the chairman of the Maine Public Utilities Commission from 2005 to 2008, where he served as Maine's primary regulator of transmission infrastructure. While chairman, Mr. Adams served as a member of the New England Conference of Public Utilities Commissions, the National Association of Regulatory Utility Commissions ("NARUC"), the NARUC Electricity Committee, the NARUC Competitive Procurement Committee and as Maine's representative on the New England State Committee on Electricity. Prior to serving as the chairman of the Maine PUC, Mr. Adams was Governor John Baldacci's chief legal counsel from 2003 to 2005. Mr. Adams was a partner in the law firm of Bernstein, Shur, Sawyer & Nelson in Portland, Maine. Mr. Adams has a B.A. in government from Skidmore College, an M.A. in International Affairs from George Washington University and a J.D. from the University of Maine Law School.

ldwight
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Let's go 'back up the ladder'

Let's go 'back up the ladder' to look at the connections to D. E. Shaw and the Obama Administration.

Some may remember the name Lawrence H. Summers currently Assistant to the President for Economic Policy and Director of the National Economic Council. http://www.deshaw.com/articles/20081124.pdf

He worked for D. E. Shaw from October 2006 until appointed as the Director of the National Economic Council by Obama in 2009. He was paid $5.2 million in his second of two years working there, while working just one day a week, according to this story. (http://www.nytimes.com/2009/04/06/business/06summers.html?_r=2)

NEW YORK, October 19, 2006—The D. E. Shaw group announced today that Lawrence H. Summers, former Treasury Secretary and Harvard University president, will join the firm as a managing director. In this capacity, Dr. Summers will be involved on a part-time basis in various strategic initiatives and high-level portfolio management activities and, along with the firm’s other managing directors, in reviewing the overall operations of the D. E. Shaw group.

“We’re delighted that Larry Summers will be joining us,” said Dr. David Shaw, chairman of D. E. Shaw &
Co., Inc. “
http://www.deshaw.com/articles/20061019.pdf

He joined D. E. Shaw after serving for a short time as President of Harvard, where he resigned as Harvard's president in the wake of a no-confidence vote by Harvard faculty.

So who do you think Lawrence Summers is beholden to?

Is this getting cozy enough for you???

Traci G
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Joined: 10/16/2007 - 6:27pm
I find this very interesting.

I find this very interesting.

ldwight
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Joined: 10/07/2005 - 12:01am
Was the Stimulus Fund payment

Was the Stimulus Fund payment of $115 million to First Wind a bailout??

Though no publically available income and loss information is available since summer of 2008, here is the quote from the prospectus issued in August of that year:

"As of March 31, 2008, we had accumulated losses since inception of $134.0 million, $597.0 million of long-term indebtedness (including current maturities) and $1.5 billion of contractual obligations (primarily related to turbine purchases and exclusive of debt obligations). These losses and obligations are largely attributable to our turbine purchases and ongoing development activities. As of such date and as a result of our development activities, we had total assets of $851.4 million. We expect to continue to incur significant capital expenditures and significant losses for the foreseeable future as we develop and construct new wind energy projects, purchase additional turbines, hire additional employees, expand our operations and incur additional costs of operating as a public company."

This company is a money looser.

Shouldn't the Government have demanded an equity stake in the corporation just like GM, Chryler, AIG et. al.? Why are we bailing out this company and its multi-billion dollar hedge fund owners/investors?

ldwight
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Kurt Adams formerly head of

Kurt Adams formerly head of Maine's Public Utility commission is Senior Vice President, Transmission Development at FirstWind, was the person who oversaw the implementation of the divestiture of the transmission and production of electricity in Maine. He now lobbies for the reitegration so First Wind's properties in Maine will be more valuable.

Baldacci takes a lobbist paid trip to Europe and comes home saying this:
"A law on the books prevents power-transmission companies from owning power generation facilities in their market areas. That seems to be blocking development of renewable energy, said Baldacci, and he said he would look at whether the law should be changed.

The federal government has begun to focus on renewable energy. Use of fossil fuels is widely recognized as a contributor to global warming. And most acknowledge that the supply of petroleum is limited. Beyond that, said Baldacci, producing renewable energy domestically will help limit dependency on foreign oil, a volatile market.

Tapping into wind, said Baldacci, could make Maine into the alternative energy powerhouse for the region. In particular, developing deepwater offshore wind projects would make Maine a leader in the nation."

Further down the story we discover earmarks set for Deepwater turbines from Susan Collins:

"Sen. Susan Collins, R-Maine, has put a $5 million earmark into next year’s federal budget for the project, and UMaine has applied for a $12 million Department of Energy grant."

It is as yet unconfirmed if Baldacci and the staff who accompanied him flew private jet or commercial. Either way it was paid for by the lobbyists planning to make hundreds of millions off Mainers and the people of the United States.

Lobbyists who work for a multi-billion dollar hedge fund. Who have not made a dime.

Again this is a looser for the people of Maine and the citizens of the United States.

Editor
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Joined: 04/18/2009 - 3:43pm
Friday, January 22, 2010,

Friday, January 22, 2010, 2:57pm EST
First Wind inks turbine deal in Maine
Boston Business Journal - by Lauren Keiper Special to the Journal

Local wind farm developer First Wind has inked a deal to build dozens of wind turbines for a renewable energy project in upstate Maine.

The Oakfield Wind project is expected to consist of 34 GE 1.5 MW turbines that would power more than 20,000 homes with clean, renewable energy.

http://boston.bizjournals.com/boston/stories/2010/01/18/daily69.html

Naran
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Joined: 10/06/2004 - 12:01am
How many pairs of ear plugs

How many pairs of ear plugs or those Bose white-noise earphones will that buy?

Roger Ek
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Joined: 11/18/2002 - 1:01am
"Baldacci takes a lobbist

"Baldacci takes a lobbist paid trip to Europe and comes home saying this:
"A law on the books prevents power-transmission companies from owning power generation facilities in their market areas. That seems to be blocking development of renewable energy, said Baldacci, and he said he would look at whether the law should be changed."

Good grief! These are the clowns that forced Bangor Hydro and CMP to sell their power generating facilities because they didn't want the same company to make and sell a product, to wit; electricity. Now Bangor Hydro is foreign owned and CMP is owned I believe by Florida Power and Light.

Robert
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Joined: 04/01/2005 - 1:01am
CMP is owned I believe by
Islander
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Joined: 02/13/2009 - 12:16pm
Which is why the Bald One

Which is why the Bald One just took a trip to Spain to see their green energy.

Editor
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Joined: 04/18/2009 - 3:43pm
http://lawoftheland.wordpress

http://lawoftheland.wordpress.com
9/27/10
Maine Supreme Court Finds Association Lacked Standing to Challenge Proposed Wind Project

In [11/08], Evergreen Windpower...issued a permit...to erect...a wind power project in...Lincoln. ...Friends of Lincoln Lake...requested a moratorium...on all “wind power applications” within the town. ...Planning Board...voted to approve [the project]. ...Friends of Lincoln Lakes petitioned to be heard before the Town Board...[but] did not present evidence of standing.... [T]he association...complaint to the Superior Court [and] Supreme Judicial Court of Maine...held...Friends had no standing....

http://lawoftheland.wordpress.com/2010/09/27/maine-supreme-court-finds-a...

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