Entergy Nuclear Cuts Power:The Anniversary Edition

( – promoted by BP)

I have added information from the Rutland Herald after the jump in addition to the original diary.BP

Well Entergy’s Vermont Yankee continues what could well become a series of 40th anniversary celebratory repair events, including a hopefully festive epoxy removal from the malfunctioning condenser unit. What do you get a nuclear power plant for its 40th anniversary? Perhaps a traditional gift such as a Ruby or Garnett? Maybe something useful, a new condenser or dry casks might be a safe bet.

Susan Smallheer at the Rutland Herald is doing a great job of keeping this story alive but got to kick the rest of Vermont media in the knees. Only six days ago the big demonstration at the plant was big all over Vermont news now the media seems to have moved on.

original diary starts: As of this morning, Entergy Nuclear Vermont Yankee is operating at only 31% of capacity, while attempts are made to clean up the mess they’ve made of their condenser.

Susan Smallheer in the Rutland Herald has the details as of Monday, hidden behind a paywall.

Key quote:

The Vermont Yankee nuclear plant is again operating at reduced power, and has been ever since its 40th anniversary last week, because of continuing problems with its condenser, according to the Nuclear Regulatory Commission.

In its continuing effort to defer needed maintenance and postpone spending, ENVY wants to wait till 2016 to replace the condenser. Replacement is projected to cost between $150 million and $200 million.

Last Fall, Entergy coated the condenser tubes with epoxy in an effort to continue operating with worn out equipment. In what seems to have come as a surprise to ENVY, coating the tubes reduced their heat transfer ability to such a degree that the reactor has been forced to cut power repeatedly.

Now ENVY has begun the laborious process of removing the recently applied epoxy.

ENVY: NOT Clean, NOT Safe, NOT Reliable

Additional bits from the Rutland Herald.

The plant was at 94 percent power Monday morning and records on file with the NRC show that ever since last Wednesday, the plant has slowly been reducing power after a short period at 100 percent.

And this comment about the plant’s condenser issue from spokes-flack-person Larry Smith is deserving of more explanation:

Entergy Nuclear spokesman Larry Smith declined to comment about the most recent problem with the condenser, and said he could talk about the issue today. He said the delay was for “proprietary reasons” but declined to elaborate.

And more to follow in the coming weeks as things warm up:

On Monday, Sheehan said that as the temperatures warm up, and the temperature of the Connecticut River increases, Yankee will have to reduce power.

Arnie Gundersen [a nuclear engineer and consultant with Fairewinds Associates of Burlington] said that now is the time for Entergy to remove the epoxy, since Entergy would lose even more revenue in the summer at reduced power.

But he warned that removing the epoxy is much more difficult than putting it on.

VY’s 40th is off to a special start.

http://www.rutlandherald.com/a…

The HOPE We Dare Not Speak



President Obama’s so-called “microphone gaffe” is getting a lot of play among Republican pundits, long bored by the interminable squabbling and embarrassments of their own primary season, but look for it on TPM or Huffington Post and you’ll struggle to find it in the queue.

I understand that strategically, I suppose; but as GMD is somewhat off the grid, let’s go where no one else has gone.

When I caught that candid moment with President Medvedev, my heart (no doubt like that of many another liberal) skipped a beat.

Was it just a random accident, or was it, like the hand signal in baseball, signifying a bona fide “change up?”

“After my election, I have more flexibility.”

Yes, there it well may be: the “Lame Duck Declaration of Independence;” a semiphore on the misted horizon, signaling to the weary that some of that “hopey changey stuff” might finally be in store for us in Obama II.

What better way to resurrect the base what brung Obama to the party?

Now, where did I put that lawn sign?

Time to Rethink the Unthinkable

If I revisit the topic of nuclear energy frequently, it is only because the surrounding issues remain so distressingly unresolved both here in Vermont and in Japan; and because new and concerning information seems to be discovered on far too regular a basis.

Case in point: it appears that the inadequacy of established evacuation zones for nuclear plants in Japan has been known to officials both here and in Japan since quite some time.

According to Enformable.com:

it has become known that the Nuclear and Industrial Safety Agency (NISA) had proposed freezing studies conducted by the Nuclear Safety Commission (NSC) to expand the range of the priority disaster mitigation zone from the current radius of between 8 and 10 kilometers from a nuclear power plant in the event of a disaster in 2006.

Their reasoning?

The agency, under the Ministry of Economy, Trade and Industry (of Japan), argued that expansion of the zones “could cause social unrest and increase popular anxiety,” emails released by the commission showed.

It seems likely that this culture of rationalized deniability is as pervasive among U.S. regulators as it was in Japan.

The effectiveness of Vermont Yankee’s evacuation plan in light of lessons that could be learned from Fukushima is one of a number of issues that were never considered by the Nuclear Regulatory Commission in their hurried decision to relicense VY, made less than 72 hours after the accident.

In the latest video from Fairewinds Assoc., Arnie Gundersen reports that five random soil samples he personally collected in Tokyo and brought back to the U.S. for testing, all registered levels of contamination that, were they considered under U.S. regulations, would have required shipment to Texas for disposal by the DOD.   As he points out, the reactors at Fukushima were twice as distant from that nation’s capitol as are ten different nuclear plants to Washington, DC.

He argues  that, in considering any application for reactor licensing, whether for a new or old build, the NRC must include in its cost/benefit analysis, the costs associated with permanent loss, should the homes, farms, industrial sites, forest and natural resources become so contaminated by accident that they are lost from usefulness for the forseeable future.

Tokyo Soil Samples Would Be Considered Nuclear Waste In The US from Fairewinds Energy Education on Vimeo.

If I Had A Son (Obama’s Martin comment)

If I had a son

He’d be just like me

Only I don’t have a son

The war took him away

If I had a son

He’d fight for what’s right

He’d stay away from guns

Love the world and its people

But I don’t have a son

Only memories and pictures

He never got a chance

To make a better world

And now they are saying things

I find hard to believe

About sons and mothers

About right and wrong

If my son’s ghost came back  

He’d shake his head

Say: “Dad, what went wrong

While I was over there?”

How could I answer him?

What could I say to explain

Away the utter emptiness

That swallowed us all up?

Say: “Son, I did what I could

But they swallowed us up.

Swallowed you up. I’m so sorry.”

I cannot forgive this emptiness

But If I had a son

We would march together

Fathers and sons across the nation

Filling up emptiness with life and love

Peter Buknatski

Montpelier, Vt.

 

National Republican leaders: the real transparency failures

So here in Vermont, we’ve got Bruce Lisman nattering about “transparency” from his completely opaque duck-blind of a 501c4, and Vermonters for Health Care Freedom whining about how we won’t learn details of Governor Shumlin’s health care plan until after the November election. In the words of VHCF’s TV ad, “It’s not fair, and it’s not right.”

Okay, you want transparency and openness. You want to know the details of a politician’s major policy initiatives before you have to cast your vote. Fair enough. Let’s look at two top national Republicans: their “budget guru” and their likely Presidential nominee.

Paul Ryan:

Appearing on two Sunday talk shows, the GOP’s top budget guru Rep. Paul Ryan promised to close enough loopholes to pay for the large tax cuts in his budget blueprint unveiled last week – but he repeatedly refused to specify any.

And Mitt Romney:

Mitt Romney has made big promises to reform Washington, but his proposals have mostly lacked specifics. In a recently published interview with the conservative Weekly Standard, Romney explained why his promises to cut federal spending by slashing government programs and even whole agencies lack detail: it’s too politically risky.

…Romney’s hesitance to get specific isn’t uncharacteristic. The former Massachusetts governor has a tax plan that, in his own words, “can’t be scored” because it lacks the details that would allow the plan to be critically evaluated.

…On the foreign policy front, Romney has criticized President Obama’s Afghanistan strategy but said he won’t put forward a plan until he hears from generals on the ground.

Wow, talk about your complete lack of transparency! I’m sure Bruce Lisman, Jeff Wennberg, Darcie Johnston, and any other Vermont conservative who’s complained about the lack of detail in Governor Shumlin’s plan will stick to their principles, and refuse to support irresponsible politicians like Paul Ryan and Mitt Romney.

At least I hope so. Otherwise, they’re all big fat steaming piles of hypocrisy.  

People who live in opaque houses shouldn’t throw calls for transparency

Bruce Lisman, retired Wall Street baron and Grand Poobah of the shadowy Campaign for Vermont, is at it again, calling for greater transparency in state government in an opinion piece posted Saturday March 25 on Vermont Digger.

We aggressively promote transparency because without it, we are left with uninformed arguments and angry partisanship and a government lacking accountability to you – its citizens.

I agree with you, sir. The Center for Public Integrity recently gave Vermont a grade of D+ in accountability and transparency. That’s not good enough. Without transparency we are, indeed, left with uninformed arguments.

But you, Mr. Lisman, calling for greater transparency. That’s rich. And not “rich” in the “made a pile on Wall Street” sense, but in the “”funny, sad and ironic all at once” sense.  

You call for transparency from the cozy confines of a completely opaque organization. You’ve voluntarily disclosed that you are CFV’s sole funder, but you refuse to say how much money you’ve given or how much CFV has spent. As you did in a March 14 interview with VPR’s Jane Lindholm.

I can’t reveal here. But we have some filing obligations which we’ll have to meet. …We have reporting deadlines and you’ll see it just like everyone else.

Yes, you have filing obligations and you promise to meet them. Because you “have to.” Let me remind you of your filing obligations.

As a 501c4 group, CFV is required to file an annual report of financial activities — on May 15 of next year!

Your group is obviously engaged in some of this year’s biggest issues. Do you really think we should wait until seven months after the election to learn anything about CFV’s finances?

Is that your idea of transparency?

You’ve said that you are simply abiding by the rules. And that’s true. But you chose to organize CFV as a 501c4 — a type of organization notorious for its lack of transparency. You could have chosen to organize as a more transparent, open type of group, but you did not. You chose to hide behind the rules you now claim to be obeying.

In your VPR interview, you pointed with pride to your voluntary disclosure that you are CFV’s only donor.

I think we’ve been more transparent than we needed to be, or had to be. Pretty good step, I’d say.

Well, I wouldn’t. I’d call it transparency tokenism: a small, essentially meaningless gesture. And you’re promising not to tell us anything more until May 15, 2013. Gee, thanks.

And now let’s talk about the “transparency” of CFV’s strategy.  You tout “nonpartisan and informed debate” that produces “middle-of-the-road, common sense public policy.”

But why, if that’s really true, do all your arguments and positions seem to be essentially Republican? And why is all your criticism aimed at the Democrats? Sure, you couch it in terms of “politicians in Montpelier”* but we all know who you’re talking about.

*You’re apparently trying to turn “Montpelier” into a curse word along the lines of “San Francisco” or “Massachusetts,” and for that, I, a resident of Montpelier, offer you my heartfelt gratitude. You Wall Street one-percenter, you.

You rail about Governor Shumlin’s health care reform plan, Democratic plans to increase our use of renewable energy, the Governor’s desire to close Vermont Yankee, and the rising cost of education. I haven’t heard one peep about a single bad idea from a Republican — nor have I heard anything about Jim Douglas’ responsibility for the perceived shortfalls of state government. If there are problems with state government, perhaps Eight-Year Jim had more to do with it than One-Year Shumlin.

Your platform — under the bashful monicker “The Lisman Perspective” — is full of conservative dog-whistles that make it very clear where you and CFV are coming from. And CFV’s top brass includes a whole lot of prominent Republican politicos and donors, along with a few token “moderates.”

So you’re keeping CFV’s finances secret, and you’re pursuing a deliberately misleading course of action. Is this your idea of transparency?

These failures in transparency and accountability must be addressed. Vermonters can’t hold their government accountable without it.

Again, I agree with you. But I’d turn that statement right back at you: Your failures in transparency and accountability must be addressed. Vermonters can’t hold you and CFV accountable without it.  

People who live in opaque houses shouldn’t throw calls for transparency

Bruce Lisman, retired Wall Street baron and Grand Poobah of the shadowy Campaign for Vermont, is at it again, calling for greater transparency in state government in an opinion piece posted Sunday March 25 on Vermont Digger.

We aggressively promote transparency because without it, we are left with uninformed arguments and angry partisanship and a government lacking accountability to you – its citizens.

I agree with you, sir. The Center for Public Integrity recently gave Vermont a grade of D+ in accountability and transparency. That’s not good enough. Without transparency we are, indeed, left with uninformed arguments.

But you, Mr. Lisman, calling for greater transparency. That’s rich. And not “rich” in the “made a pile on Wall Street” sense, but in the “”funny, sad and ironic” sense.  

You call for transparency from the cozy confines of a completely opaque organization. You’ve voluntarily disclosed that you are CFV’s sole funder, but you refuse to say how much money you’ve given or how much CFV has spent. As you did in a March 14 interview with VPR’s Jane Lindholm.

I can’t reveal here. But we have some filing obligations which we’ll have to meet. …We have reporting deadlines and you’ll see it just like everyone else.

Yes, you have filing obligations and you promise to meet them. Because you “have to.” Let me remind you of your filing obligations.

As a 501c4 group, CFV is required to file an annual report of financial activities — on May 15 of next year!

Your group is obviously engaged in some of this year’s biggest issues. Do you really think we should wait until seven months after the election to learn anything about CFV’s finances?

Is that your idea of transparency?

You’ve said that you are simply abiding by the rules. And that’s true. But you chose to organize CFV as a 501c4 — a type of organization notorious for its lack of transparency. You could have chosen to organize as a more transparent, open type of group, but you did not. You chose to hide behind the rules you now claim to be obeying.

In your VPR interview, you pointed with pride to your voluntary disclosure that you are CFV’s only donor.

I think we’ve been more transparent than we needed to be, or had to be. Pretty good step, I’d say.

Well, I wouldn’t. I’d call it transparency tokenism: a small, essentially meaningless gesture. And you’re promising not to tell us anything more until May 15, 2013. Gee, thanks.

And now let’s talk about the “transparency” of CFV’s strategy.  You tout “nonpartisan and informed debate” that produces “middle-of-the-road, common sense public policy.”

But why, if that’s really true, do all your arguments and positions seem to be essentially Republican? And why is all your criticism aimed at the Democrats? Sure, you couch it in terms of “politicians in Montpelier”* but we all know who you’re talking about.

*You’re apparently trying to turn “Montpelier” into a curse word along the lines of “San Francisco” or “Massachusetts,” and for that, I, a resident of Montpelier, offer you my heartfelt gratitude. You Wall Street one-percenter, you.

You rail about Governor Shumlin’s health care reform plan, Democratic plans to increase our use of renewable energy, the Governor’s desire to close Vermont Yankee, and the rising cost of education. I haven’t heard one peep about a single bad idea from a Republican — nor have I heard anything about Jim Douglas’ responsibility for the perceived shortfalls of state government. If there are problems with state government, perhaps Eight-Year Jim had more to do with it than One-Year Shumlin.

Your platform — under the bashful monicker “The Lisman Perspective” — is full of conservative dog-whistles that make it very clear where you and CFV are coming from. And CFV’s top brass includes a whole lot of prominent Republican politicos and donors, along with a few token “moderates.”

So you’re keeping CFV’s finances secret, and you’re pursuing a deliberately misleading course of action. Is this your idea of transparency?

These failures in transparency and accountability must be addressed. Vermonters can’t hold their government accountable without it.

Again, I agree with you. But I’d turn that statement right back at you: Your failures in transparency and accountability must be addressed. Vermonters can’t hold you and CFV accountable without it.  

Study shows: Higher state taxes on rich won’t drive them out. Someone please tell Mr. Shumlin…

( – promoted by jvwalt)

So, research now backs up what we all kinda knew was true anyway: increasing taxes on the rich isn’t going to send them packing. On the contrary, they are more likely to suck it up and appreciate the added value of public services.

Not holding my breath, but perhaps Mr. Shumlin will now stop his obsequious behavior and start coming up with some more realistic long term financial scenarios where any necessary tax increases are imposed on those who can, in fact, afford them?

Don’t worry, Peter, those sacred cow millionaire friends of yours will still be your friends (and will still be around for dinner on Friday) — and perhaps, just perhaps, you’re more likely to have a viable state with fewer desperate low income earners when the elections come around…

No illumination: the sorry state of Vermont’s campaign disclosure system

This is part two of a two-part series on money in Vermont politics. Part one focused on independent advocacy groups; find it here.

There’a plenty of outrage in these parts over the Citizens United ruling and the ensuing flood tide of money in politics. The ruling was certainly a disaster, but it imposes no limits on one significant means of reform: greater transparency in the process. And on that particular score, Vermont’s laws are terrible. They are holdovers from a simpler time, and nothing much is being done to update them.

The problems include: infrequent campaign reporting deadlines, an archaic system of gathering campaign reports, a failure to require useful information about political donors, and virtually nonexistent rules for local campaigns.

There are bills in the Legislature to address some of these issues, but it looks like nothing will happen in this session. Given the fact that the Democrats have held complete sway in state government for over a year, this is surprising. And, in my opinion, disgraceful. If Democrats won’t lead the way on improving campaign laws, do you think Republicans will do any better?

After the jump: four easy steps to greater transparency, and inertia in the Legislature.

1. Campaign reporting deadlines.

We are currently in a one-year dead zone for campaign disclosure. In off-years like 2011, only one report is required — in mid-July. That’s fine; in Vermont, campaigns are basically dormant in off-years.

But the next report isn’t due until mid-July of the following year. (After that, campaigns must file monthly reports through December.) This is a relic of a time when campaigning really and truly didn’t start until the Legislature adjourned.

That remains the polite fiction of Vermont politics today; nobody in state government likes to announce a candidacy until after adjournment, because it might “politicize” their work in the Legislature.

In the words of Ralph Kramden, “Hardy har har.”

As if it isn’t crystal clear when someone is running. The rumors fly. Non-denials are coyly issued. The frequency of press releases and news conferences goes up, as does the advocacy of hot-button causes and the criticism of the other party.

“I believe that we should have monthly reports in election years,” says Wally Roberts of Common Cause Vermont. I agree. We should be able to find out, well before July, who’s raising how much money and from whom.

2. An archaic process for filing campaign reports.

This was one of the issues responsible for Vermont’s dismal D+ grade in the Center for Public Integrity’s recent report on transparency in state governments. “The way the state stores records now,” says Roberts, “candidates submit hard copies of disclosure reports. They’re scanned into .pdf’s and posted online, but they’re not searchable.”

Which makes it difficult to track major donors. If all records were posted digitally, it would be simple to find all sorts of useful information. Imagine being able to list all an individual’s donations (pick a name out of thin air, “Bruce Lisman”) in one simple online search. It’d also be easier for the campaigns if they could file electronically, instead of having to produce and submit paper copies.

Common Cause Vermont recently established its own searchable database of all campaign donations in the 2010 season. CCVT took the step for two reasons: to make the information available, and to show how easily it could be done.

So why hasn’t Vermont done it? “Lethargy,” says Roberts. And, a bit more charitably, he adds: “It would require some money. Estimates for [a system of] electronic campaign finance reports on the Web are anywhere from $250,000 to a million dollars or more.”

Times are tough and budgets are tight. But that strikes me as a small investment in making our political process more open and accessible.

3. A lack of pertinent information

I’ll turn this one over to Jon Margolis of Vermont Digger:

Worse perhaps, Vermont’s campaign finance laws require disclosure of the names and addresses of contributors, but not their employers or professions. An investigator wanting to know how much workers at the XYZ Corporation gave to Candidate A would have to have the company’s employee roster in hand to check against the campaign filings.

I think that’d be nice to know.

4. Minimal reporting requirements for local candidates.

Local candidates are not required to file campaign finance reports until ten days before the election. Then they file a final report ten days after the election. That’s it.

Now, if you’re running for select board ion a shoestring, that might be so bad. But when you have a Burlington Mayoral race with a price tag in the neighborhood of $200,000, it’s ridiculous.

“At the time of the Burlington Democratic Caucus, there was no reporting requirement,” says State Rep. Jason Lorber, one of the Dem candidates for Mayor. “I voluntarily reported my information. Because of that, Miro [Weinberger] also reported his. Even after the nomination, there was no requirement until ten days before the election. Till that time, the voters were in a ‘black hole of information.'”

Lorber proposed legislation that would standardize reporting requirements for local and state candidates who raise more than a minimum amount of money. “Maybe $500, maybe more,” he says. “Maybe $2,000. If you’re running for school board or mayor and raising significant amounts of money, I think the public should have access to the information.”

5. Where things stand.

There were two bills in the Vermont House that addressed aspects of campaign law. One would establish an electronic database for campaign spending reports; the other would establish uniform reporting requirements for state and local candidates who spend more than a certain amount of money.

The bills were referred to a House committee, which awaited action in a Senate committee on similar legislation. Well, crossover week has come and gone — the traditional cutoff point for advancing legislation out of committee — and nothing more has been heard. It seems likely that campaign disclosure legislation is a dead issue for the 2012 Legislature.

One Statehouse observer told me that there are major disagreements within party caucuses and across party lines on how best to reform the laws*, and no real push from the public. That’s a recipe for stasis.

*Peter Galbraith, for example, supports a ban on corporate contributions, but wants no limits on individual donations. In 2010, he spent far more on his campaign than any other State Senate candidate. He raised $58,000, almost all of it from his own pocket; no one else raised or spent more than $40,000.

Which is a shame. It looks like we will go through an entire biennium of Democratic control with no action on campaign disclosure laws. The outrage over Citizens United may make people feel better, and it was certainly heartening to see the one-sided results of Town Meeting resolutions on the issue. But that’s a long, drawn-out, slow battle with an (at best) uncertain outcome.

Meanwhile, right here in Vermont, there are simple, basic steps that would make the system much more transparent. And nothing is being done.  

Why did Rapid Visa USA and Jay Peak Part Ways?

So what did happen between Jay Peak and Rapid Visa USA? The show pony for Vermont’s Federal EB-5 investment funded expansion has hit a bit of controversy or “flappette” as one local report called it. Some principal players are unavailable to the media, and the story coverage in state has mostly consisted of assurances from Jay Peak’s owner and a State of Vermont Commerce Agency official. However, what is known is that EB-5 broker Douglas Hulme of Rapid Visa USA terminated his longtime lucrative business relationship with Bill Stenger and Jay Peak, writing that he  “no longer has confidence in the accuracy of representations made by Jay Peak.”

Rapid Visa USA had a long association with Jay Peak and had successfully brokered $200 million in investment from 400 green-card-seeking investors for the ski-becoming-destination resort.

  Assuming that figure [$200 million] to be correct, the fees paid to agents and attorneys involved with the sale of these securities offerings (the subscription fee used to be $65,000 but is now $50,000) would be well over $20 million.

The sudden departure of a business associate set off speculation in the EB-5 world about Jay Peak’s financial wellbeing.

Several other EB-5 financed projects are underway in Vermont, including a bio-tech business in the Northeast Kingdom.

Eyes wide shut?

It remains just a “flappette” locally. The EB-5 program (explained below in detail) in Vermont is a big deal, and to date it has worked well for Jay Peak. But in other areas nationally it has been criticized for spawning cynical practices that are stretching the rules and violating the spirit of the law.

Here are some numbers from the online blog EB5Info.com that examined the arrangement that existed between Jay Peak and Rapid Visa USA and brought in the funds. These amounts have been questioned but it gives an idea of the scope of a partnership that likely wouldn’t have been severed lightly or on a snarky personal whim.

  …a compensation arrangement that was very profitable for Hulme’s firm, Rapid USA Visas, earning well over $25,000 per investor once the I-526 had been approved. Rapid USA Visas and Jay Peak had an additional clause in the subscription agreement that provided both parties with compensation of $10,000 even if the investor did not pursue the investment after the 30-day review period ended, making Jay Peak one of the few EB-5 regional centers that charged (and still charges) a document fee.

 

The media – unable to talk to Rapid Visa’s Hulme or the online EB-5Info’ s analyst Michael Gibson – have relied on reassuring remarks from Jay Peak owner Bill Stenger and James Candido, the Commerce Agency’s Economic Development Specialist who found “no issues” regarding Jay Peak. Candido and the State of Vermont have an active role promoting  EB-5 and, like Stenger himself, are hardly neutral observers. Before this unpleasantness began Vermont’s Candido made an interesting point in a January interview with EB-5 expert Norman Oder when he spoke of the state’s responsibilities to investors:

“everything points to them getting their investment back” but stressed “that’s not under the jurisdiction of the government.” Because Jay Peak did not start getting investors until 2008-09, none have seen their investment periods reach maturity, so they haven’t had a chance to get their money back, Candido said. The investment is a private transaction, he said, “unless a company we see is blatantly or intentionally trying to deceive investors.”

An observer might wonder if at a minimum a “flappette” might be elevated to the level of “flap” or higher when more information becomes available. Until then the State and Jay Peak will no doubt refer often to their  “great track record”- however something caused longtime business associate and stakeholder Rapid Visa USA to bolt Jay Peak and that might tarnish the track record.

About the program: The EB-5 program allows immigrants wishing to obtain US citizenship to invest in approved private businesses ventures. A $500,000 investment in a US business that indirectly creates 10 full-time (often low wage) jobs for American workers will yield citizenship for the wealthy immigrant and family. The program has aspects of both immigration and investment so the U.S. Citizenship and Immigration Services (USCIS) and the Securities and Exchange Commission (SEC) handle oversight nationally.