(no subject)
- From: "David P. Dillard" <jwne@xxxxxxxxxx>
- To: Net-Gold -- Educator Gold <Educator-Gold@xxxxxxxxxxxxxxx>, net-gold@xxxxxxxxxxxxx, Net-Gold <Net-Gold@xxxxxxxxxxxxxxx>, NetGold <netgold@xxxxxxxxxxxxxxx>, K-12ADMINLIFE <K12ADMIN@xxxxxxxxxxxxxxxxxxx>, K12AdminLIFE <K12AdminLIFE@xxxxxxxxxxxxxxx>, MediaMentor <mediamentor@xxxxxxxxxxxxxxx>, Nabble Groups Net-Gold <ml-node+s3172864n3172864h56@xxxxxxxxxxxxx>, Net-Platinum <net-platinum@xxxxxxxxxxxxxxx>, Sean Grigsby <myarchives1@xxxxxxxxxxxxxxx>, Net-Gold <NetGold_general@xxxxxxxxxxxxxxxxx>, Temple Gold Discussion Group <TEMPLE-GOLD@xxxxxxxxxxxxxxxxxxx>, Temple University Net-Gold Archive <net-gold@xxxxxxxxxxxxxxxxxxx>, "Net-Gold @ Wiggio.com" <netgold@xxxxxxxxxxxxxx>, Health Lists -- Health Diet Fitness Recreation Sports <healthrecsport@xxxxxxxxxxxxxxx>, HEALTH-RECREATION-SPORTS-TOURISM@xxxxxxxxxxxxxxxxxxx
- Date: Sun, 23 Feb 2014 01:18:45 -0500 (EST)
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DISASTERS: CHEMICAL SPILLS :
RIVERS :
WATER :
UNITED STATES: STATES: WEST VIRGINIA :
WATER POLUTION :
ENVIRONMENT: POLLUTION :
ENERGY :
HEALTH: ISSUES :
BUSINESS: COMPANINES: NAMED COMPANIES: FREEDOM INDUSTRIES:
Freedom Industries is Winding Down Operations
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Freedom Industries is Winding Down Operations
February 22, 2014 @ 12:00 AM
Jonathan Mattise
Herald Dispatch
http://www.herald-dispatch.com/news/x32207500/
Freedom-Industries-is-winding-down-operations
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A shorter URL for the above link:
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http://tinyurl.com/p7c3x7m
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CHARLESTON -- The company at the center of West Virginia's chemical spill
that contaminated drinking water for 300,000 people is selling the rest of
its chemicals, helping its 51 employees find new jobs and winding down
operations.
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Saying the company's problems exceed its small size, attorney Mark
Freedlander announced Freedom Industries' plans in federal bankruptcy
court Friday. Time is running out before the company's March 15 deadline
to remove all chemicals from the Charleston spill site and start
dismantling the tanks there, per state orders.
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The company no longer plans to use up to $3 million in credit, with the
possibility of tapping an extra $1 million, which the court had permitted
Freedom Industries to borrow to keep running.
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"Freedom Industries, plain and simple, can't bear the weight," Freedlander
said.
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Environmental cleanup costs are expected to be well into the millions of
dollars for the company, and legal fees continue to rack up.
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In court last month, Freedom Industries President Gary Southern estimated
$800,000 in cleanup costs for the first week after the Jan. 9 spill. It
expects to pay $1.7 million in various environmental costs in the next
month, and the court approved hiring more environmental consultants
Friday, according to documents.
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The court also cleared the company to hire additional lawyers, adding to
$150,000 in legal counsel costs since bankruptcy began, according to court
documents.
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To keep paying for costly environmental work, Freedom Industries expects
to make $990,000 selling off its chemicals and $3.7 million collecting
payments in the next month.
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The complete article may be read at the URL above.
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Sincerely,
David Dillard
Temple University
(215) 204 - 4584
jwne@xxxxxxxxxx
http://workface.com/e/daviddillard
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