In response to the Feb. 24 editorial “The missing partner”: A public-private partnership rarely creates new jobs.
In many PPPs, a private equity firm takes over the management of a public service, such as managing a state’s prisons or issuing a city’s parking tickets and collecting the fines. In such an arrangement, efficiency is key to making money for the private partner. Thus, jobs may be lost, and those that remain might have fewer protections and benefits.
If the DMV were privatized, would employees keep their health and retirement benefits? If DENR were privatized, could the private partner be trusted to put protecting the state’s natural resources ahead of protecting the company’s bottom line?
In a PPP, any profit goes to the private equity company. So why should the N.C. Commerce Department invest public money in searching for such a partner? Shouldn’t the private partners be courting the state?