Showing posts with label bankrupcy. Show all posts
Showing posts with label bankrupcy. Show all posts

Saturday, June 9, 2012

Scott Brown's friend Curt Schilling personal ownership guru leaves Rhode Island in the lurch





Thank God Massachusetts wasn't stupid enough to give this man a blank check.

Wednesday, June 6, 2012

Greece Still Going Broke, Now Faster And With More Broke-Ness

Greece Still Going Broke, Now Faster And With More Broke-Ness:

'via Blog this'




If you could rely on anything in the past couple of years, it is that Greece is always going broke. Now it turns out that Greece is going broke faster than almost anybody expected.
The Greek government is struggling to collect enough tax revenue to cover its immediate bills, the New York Timesreported on Wednesday, leaving it about 1.7 billion euros shy of its budget goals. It may soon need to freeze government salaries and pensions, temporarily halt imports of food, fuel and medicine, or dip into cash intended to help Greece's gutted banks, the Times writes.

Sunday, June 3, 2012

Second Romney-Backed Solar Company Files For Bankruptcy | ThinkProgress

Second Romney-Backed Solar Company Files For Bankruptcy | ThinkProgress:

'via Blog this'


On Thursday, Mitt Romney campaigned at the headquarters of Solyndra — the first renewable energy company to receive a federal loan under the stimulus — and reiterated his debunked claims that its bankruptcy symbolized the corruption and cronyism of the Obama administration. But just one day later, a solar panel developer “that landed a state loan from Mitt Romney when he was Massachusetts governor” went belly up, the Boston Herald reports, creating an inconvenient storyline for the GOP presidential nominee.
The company, Konarka Technologies, “filed for Chapter 7 bankruptcy protection and will cease operations, lay off its 85 workers and liquidate”:
“Konarka has been unable to obtain additional financing, and given its current financial condition, it is unable to continue operations,” CEO Howard Berke said in a statement. “This is a tragedy for Konarka’s shareholders and employees and for the development of alternative energy in the United States.”
The demise of Konarka could become a hot topic on the campaign trail becauseRomney personally doled out a $1.5 million renewable energy subsidy to the Lowell startup in 2003, shortly after taking office on Beacon Hill.
Konarka is the second Massachusetts solar company, along with Evergreen Solar and Beacon Power, to receive taxpayer dollars under Romney’s tenure and subsequently declare bankruptcy.
Romney, meanwhile, routinely dismisses the nation’s 3.1 million clean energy jobs, even as clean energy is booming in Massachusetts. The industry has created 64,000 jobs across the energy efficiency and renewable energy sectors.