|By Steven Mayer, The Bakersfield Californian|
|McClatchy-Tribune Information Services|
When the manufacturer of modular oil refineries inked a
Now, says Chemex Chief Operations Officer
"We're very concerned," Robinson said.
The institution, often called "Ex-Im" for short, has become a favorite target of
But Robinson and other local business people say that if the
"Without Ex-Im, we would not have gotten that job," Robinson said of the Indonesian contract.
House Majority Leader
But this summer, McCarthy reversed his position.
"The private sector can do it," McCarthy said in an interview on
"One of the biggest problems with government is they go and take hard-earned money so others do things that the private sector can do," McCarthy said. "That's what the
"Since 2007, the
According to Ex-Im's website, the bank's services have supported
Ex-Im provides direct loans, loan guarantees and other forms of financing and insurance to help companies develop export markets around the world. But the bank has been criticized for dedicating too much of its support to
Many of its biggest loans do go to support mega-corporations. But the agency also helps thousands of small and medium-sized companies, including some 30 in McCarthy and Valadao's districts.
"I have many times, starting in June, asked for a meeting with Kevin," Nelson said of McCarthy. "All I got was an email from his staff saying they're looking into it."
Private banks simply don't do what Ex-Im does, Nelson said. ProGauge's bank requires the company to obtain an Ex-Im guarantee -- in addition to corporate and personal guarantees -- before it will issue a performance bond or letter of indemnity on ProGauge's behalf.
Chemex's Robinson said his company exports to developing nations like
It's not just Chemex's 25 employees who would be affected by the demise of Ex-Im, Robinson said. It's as many as 100 local suppliers and subcontractors who are hired to help complete a big project.
Nelson estimated at least half of his employees could be laid off if the company's exports are halted.
"Failure to reauthorize the
"Not only does Ex-Im directly support U.S. jobs," the Chamber continued, "it has consistently reduced the federal deficit for more than eight decades. Ex-Im charges fees for its services that last year allowed it to return more than
Critics of the agency dispute those claims. And like McCarthy, they suggest the private sector will eventually fill the gaps currently being served by
But Nelson and Robinson are not comforted by such predictions. They have businesses to run.
McCarthy, Nelson said, is appeasing the
"Kevin saw what happened to Cantor," Nelson said of former Majority Leader
The surprise outcome, many analysts believe, sent a message to mainstream Republicans that the
But Nelson now questions whether McCarthy is still a traditional
"I was asked by the
(c)2014 The Bakersfield Californian (Bakersfield, Calif.)
Visit The Bakersfield Californian (Bakersfield, Calif.) at www.bakersfield.com
Distributed by MCT Information Services