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More good news on the Obama economy

Discussion in 'Government Offices and Programs' started by JackDallas, May 2, 2013.

  1. JackDallas

    JackDallas Senator Supporting Member

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    Coda Holdings Inc., parent of the electric-car maker backed by billionaire Philip Falcone, filed for bankruptcy and will seek to sell its assets to a group led by a Fortress Investment Group LLC (FIG) unit for $25 million.

    The Los Angeles-based company, whose Coda Automotive unit also sought court protection, listed assets of as much as $50 million and debt of as much as $100 million today in the Chapter 11 filing in Wilmington, Delaware. The company said it intends to sell its assets within 45 days.

    http://www.bloomberg.com/news/2013-...oda-files-for-bankruptcy-to-seek-sale-1-.html

    Third electric car company to go under this year.
     
  2. EatTheRich

    EatTheRich President

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    Right wingers consider it "good news" when companies go out of business and lay off workers.
     

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