‘TEXAS TWO STEP’ IS TITLE THAT DANCES INTO OUR HEART! Review of the #Hallmark film with Heather Hemmens. #BrendanPenny #TexasTwoStep

https://rissiwrites.com/2026/06/texas-two-step-dances-into-our-heart.html

Feed: All Latest | A Chevron Texas Power Plant Seeks School District Tax Break by Molly Taft

AI generated summary, Read the full article for complete information.

Chevron’s subsidiary Energy Forge One has applied to the Texas Comptroller for a JETI‑program tax abatement that could save the oil giant more than $227 million over ten years for a new gas‑fired power plant in West Texas. The plant will not feed the public grid but will deliver “behind‑the‑meter” electricity directly to a data center that may be leased by Microsoft, with whom Chevron has an exclusivity agreement but no finalized contract. The project, which promises over 25 permanent jobs, would emit roughly 11.5 million tons of CO₂ annually—more than the country of Jamaica—raising environmental concerns as lawmakers begin scrutinizing the growing wave of data‑center incentives that have already cost Texas and other states billions in lost revenue. Critics argue that Texas’s revised JETI program still offers relatively low oversight, and bipartisan leaders are urging tighter safeguards to ensure taxpayers benefit from such large‑scale, privately funded infrastructure.

Read more: https://www.wired.com/story/chevron-wants-school-district-tax-break-data-center-power-plant-texas/

#Chevron #EnergyForge #TexasComptroller #JETIprogram #Microsoft #Wired #DanPatrick #Texas #JaneFlegal #science #science_environment #texastwostep

A Chevron Texas Power Plant Seeks School District Tax Break

The move could save the oil company hundreds of millions, even as Texas lawmakers start looking at reining in incentives for data centers.

WIRED
Why One of the Richest Companies in America Is Declaring Bankruptcy

YouTube

When a giant corporation goes bankrupt, it emerges shorn of its union pension obligations and liabilities to workers and customers it abused or killed, and continues on, re-offending at will. Big companies have mastered the #TexasTwoStep, whereby a company creates a subsidiary that inherits all its liabilities, but not its assets. The liability-burdened company is declared bankrupt, and the company's sins are shriven at the bang of a judge's gavel:

https://pluralistic.net/2023/02/01/j-and-j-jk/#risible-gambit

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Pluralistic: Johnson and Johnson’s bankruptcy gambit fails (01 Feb 2023) – Pluralistic: Daily links from Cory Doctorow

‘They made a huge profit knowing they’d kill people’: US firms use tactics to avoid paying asbestos victims

Advocates say corporate strategy known as ‘Texas two-step’ is being used as ‘menu choice’ to avoid paying compensation

The Guardian

Prison healthcare provider Corizon Health Inc. split into two U.S. companies - Tehum Care Services and YesCare. Tehum was given over 1,000 legal claims (such as 660 charges of malpractice) of $82 million so it declared bankruptcy, while YesCare kept all the business.

#TexasTwoStep

https://www.usatoday.com/story/news/nation/2023/09/19/corizon-yescare-private-prison-healthcare-bankruptcy/70892593007/

A prison medical company faced lawsuits from incarcerated people. Then it went ‘bankrupt.’

The prison giant Corizon spun off a new company, which could allow it to pay pennies on the dollar for medical malpractice and civil rights claims.

USA TODAY

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Texas two-step bankruptcy
https://en.wikipedia.org/wiki/Texas_two-step_bankruptcy#Subsequent_Chapter_11_bankruptcy

Once the parent company has created a spin-off containing the parent's former liabilities, the spin-off declares chapter 11 bankruptcy but remains in control as a debtor in possession.

E.g. when Johnson & Johnson entered into a Texas two-step through its spin-off LTL Management LLC, J&J's other divisions continued to operate unencumbered, and J&J maintained its AAA credit rating.
...

#CorporateEthics #talc #cancer #TexasTwoStep

Texas two-step bankruptcy - Wikipedia