Sunday, April 01, 2012

Maglev not dead yet

No... that's not an April Fool's gag...  

Technically at least. 

So I say to myself, it's April Fools Day.. what is there to post?  I think the cupcake meme is overwrought forever.  I still occassionally get emails from people who really thought my news about the Balcony in Shadyside reopening was the truth. (really. thanks Google I guess).  I wondered whether anyone would believe it if I posted that Maglev had again been pulled back from the brink.  The brain conjured up a not entirely implausible scenario where say Ross Perot parachuted in to save the rump of Maglev Inc, even after it had its liquidation auction less than a month ago.  So I start typing.

Hmm... the brain wanders..  what did the Maglev patents fetch at auction?  That could be a detail to include.  Let's go check I say.

and in the file of truth is stranger than fiction what do I come up with?   Not only is the Maglev history not complete yet... but there appears to have been an emergency hearing on Friday.   Why?  Why do I even ask is the real question..   but skip that. It seems that when the creditors showed up at Maglev's office a week ago to collect the remaining assets the principals at the firm were copying their server backups onto external hard drives.  The creditors claimed that any such data is their property, but the hard drives were not turned over. The disagreement seems to have caused a flurry of filings and an emergency order filed just Friday afternoon. 

I say give it up. .   and I could not find anywhere in the filings what the patents fetched.  All those millions invested, you think someone might be interested if there was any actual value created.  Even if it is just an intellectual question at this point, it matters.

No I am not naive.. I get it.  Best to pretend it all never happened. Better for all involved.  Maglev will be excised from the economic history of the region no matter how much money was spent.  There may someday be a history that duly records that much more was spent on Maglev than on many of the initiatives we like to say were catalytic for the region's transformation.  Makes for a better story if we leave out the less successful parts and the opportunity costs incurred.

 I really should have put in a bid for those computers at ULS...