Huffy to become Chinese controlled after bankruptcy
Huffy Corp plans to shed pension obligations and emerge as a Chinese controlled private company after bankruptcy. Sinosure Group will take majority ownership via 30 percent equity and a 3 million note, with 70 percent equity and 9 million note to other creditors. The plan could make Huffy Ohio’s fourth Chinese owned firm.
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Jury acquits Scrushy on all HealthSouth fraud counts
Richard Scrushy, founder of HealthSouth Corp, is acquitted on all 36 counts in his corporate fraud trial. The jury found no convincing link between him and the scheme to inflate earnings by 2.7 billion dollars as prosecutors argued.
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Ala
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