|From:||Lenny Siegel <email@example.com>|
|Date:||16 Feb 2007 07:16:51 -0000|
|Subject:||[CPEO-MEF] Talon Manufacturing's munitions problems|
State to lose $1.2 million on Talon investment By Ken Ward Jr. Charleston Gazette (WV) February 15, 2007State officials expect to lose more than $1.2 million in public money they invested in Talon Manufacturing now that environmental problems have forced the company to close its operations in Mason and Wyoming counties.
The state Jobs Investment Trust hopes to recoup a $500,000 loan once Talon is able to sell off its equipment, but the agency expects to lose its $1.25 million ownership stake in Talon.
"In all likelihood, we'll probably end up writing that off," said Richard Ross, the investment trust's executive director.
Talon started operations in 1993, and acquired government contracts to disassemble ammunition. The company has had a series of problems, including several explosions, run-ins with environmental regulators, failure to pay workers' compensation premiums on time, and bankruptcy reorganization.
... For the entire article, see http://sundaygazettemail.com/section/News/2007021414 -- Lenny Siegel Director, Center for Public Environmental Oversight c/o PSC, 278-A Hope St., Mountain View, CA 94041 Voice: 650/961-8918 or 650/969-1545 Fax: 650/961-8918 <firstname.lastname@example.org> http://www.cpeo.org _______________________________________________ Military mailing list Military@list.cpeo.org http://www.cpeo.org/mailman/listinfo/military
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