Another one of the Energy Department’s taxpayer-financed “investments” just went belly-up. This one died very quietly, without making a formal announcement, but USA Today noticed:
A Michigan maker of vans for the disabled that received a $50-million Energy Department loan has quietly ceased operation and laid off its staff.Read more at Human Events
Vehicle Production Group, or VPG, stopped operations after finances dipped below the minimum threshold required by the government as a condition of the loan, says its former CEO, John Walsh. Though about 100 staff were laid off and its offices shuttered, it has not filed for bankruptcy reorganization.
(Hat tip: KimR)
0 comments:
Post a Comment