Bankrupcy

[fatrip]

dam another bits the dust...baaadabump...so much for cheap salt anymore.

IO

so much for the stimulus's stimulating the economy.

 

[truebeliever71]

They filed for Chapter 11 which is a re-organization chapter. It basically protects them from their creditors while regaining a foothold.

 

[fatrip]

humm 2.6 billion in dept, with common stock @ zero and bonds dropped to 20%. as well as the markets in general going south...I don't see this company being around for the later part of 2009.

They would need a massive turn around in business practices, as well as management ethics to accomplish such a feet.