Kentucky taxpayers and northeastern Kentuckians wanted to know why Braidy Industries removed Craig Bouchard as CEO and Chairman of the Board. Braidy executives provided an answer on Tuesday before the Senate Appropriations and Revenue Committee in Frankfort.
The board’s desire is to make “more progress, faster.”
That’s exactly what hope-thirsty area folks want to hear. They’ve been singing that same tune for three years, actually.
Bouchard and Braidy plunged into the spotlight instead of easing into it. And they set timetables with less-than-realistic dates, which opened the door to additional skepticism and jokes at their expense.
Now, the slate is wiped clean. But the clock is still ticking.
Will the public give Braidy a chance to redeem itself? We’d be advised to do so.
New CEO Tom Modrowski said he’s as confident in this project as he was in 2017. The problem is the company still needs to raise $500 million — and the goal is to do so before the end of its current fiscal year.
Braidy Industries has $65 million on hand and commitments for $200 million — but those commitments are subject to crumble if the $500 million isn’t raised.
There’s a lot of work to be done, but Modrowski is determined to “make it a reality,” he said.
We think Republican Sen. Chris McDaniel’s request of quarterly Braidy updates is a great idea. The transparency will be much appreciated by the public, and it will help erase all of the skepticism and replace it with clear answers to what will assuredly be a large number of questions until the aluminum mill is erected.