"History is a wonderful thing, if only it was true"
-Tolstoy

Saturday, November 01, 2008

The Bloom is off the ... corn

Another mania deflated


Verasun Files for Bankruptcy Protection - Green Inc. Blog - NYTimes.com
"The VeraSun Energy Corporation, which accounts for roughly 7 percent of ethanol production capacity in the United States, announced that it had filed for Chapter 11 bankruptcy protection late Friday.

Shares in VeraSun were trading for pennies in anticipation of the move, which, the company said in statement, was “precipitated by a series of events that led to a contraction in VeraSun’s liquidity, impairing its ability to operate its business and invest in production facilities.”"

No comments: