More signs that The Foundry may founder

The government of Kuwait, citing lower oil prices and the worldwide financial crisis, is pulling out of a planned multibillion-dollar joint venture with Dow Chemical in Michigan. Meanwhile, the government of  Abu Dhabi has acquired an increasingly large majority stake in its joint venture with AMD, The Foundry, which is supposed to start building a $4.6 billion computer chip plant next year in Saratoga County. The state has been busy transferring $1.2 billion in economic incentives, including a $650 million direct subsidy, to The Foundry. Meanwhile, AMD itself keeps reporting worse financial news. So the Saratoga County project's future now depends on Abu Dhabi not following the example of Kuwait.