COMIDA invests in questionable business?
That’s what the Water Buffalo Press is saying in a hard-hitting piece they put up on Thursday:
The Democrat & Chronicle reported yesterday that COMIDA (which stands for the County of Monroe Industrial Development Agency and will be the subject of a story to come later here on the Water Buffalo Press) awarded a $600,000 grant to 5Link, a “telecom” provider based in Henrietta.
(snip)
5Linx uses a business strategy called “MLM” or “Multi Level Marketing” to sell their “products;” what this essentially translates to is a Pyramid structure that recruits people to invest in a startup much like Tupperware or Cutco knives. They do not even sell their own products, they resell things like cell phone service and satellite tv. Much like the Fast Ferry founders and Maplestar, they receive millions in government funding and tax breaks under the guise that they will add “hundreds of jobs” only to see the C-level employees pocket the profits and split town.
We will try to follow up on this.
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