“A $69 million loan this spring from the company’s private investors will be repaid before taxpayers get their money back, according to a creditors’ agreement cited in the bankruptcy filing. “
Who the hell agreed to this? Private investors should be the FIRST wiped out, well before losses to the taxpayer are put into play.
...Yep. This story is getting worse by the day.
1/2 billion for a factory. Monstrous overhead for
such a niche company. No real bank or VC entity would
allow that.
What do you want to bet their media room has a 50 foot long slate conference table, dozens of corinthian leather chairs with individual controls built in, an 80” LCD and the best sound system that money can buy?