Broadband company’s demise puts taxpayers on hook for $74 million loan


SLIDE SHOW(7): The FCC’s powers
By Cecilia Kang – As the government prepares Thursday (10/27/11) to commit billions of dollars to bring high-speed Internet to rural areas, the biggest-­ever such project has collapsed.

The company Open Range, backed by a commitment of $267 million in loans from the Agriculture Department, filed for bankruptcy this month.

The furor was sparked by the high-profile failure of solar-panel manufacturer Solyndra, which filed for bankruptcy after getting more than $535 million in federal loan guarantees. more> http://twurl.nl/4fqfer

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s