Peanut Corp Has Gone Out Of Business
It was bound to happen, and it looks like it just did: Peanut Corporation of America has filed for Chapter 7 bankruptcy, and will liquidate its assets to pay off creditors.
"Peanut Corp. of America files for bankruptcy" [MSNBC] (Thanks to Liz!)
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Comments:
Only if throw in the asbestos ceilings and lead lined office furniture, otherwise, no dice.
@kathyl: "...and will liquidate its assets to avoid paying off lawsuits and settlements to all the innocent people sickened or killed due to their gross neglegence, callowness, and greed."
Since some of this was done by direct actions of the company owner can the injured parties go after the owner directly?
I saw last week that his corporate insurance was suing Peanut Corp to have the insurance policy voided due to his bad actions.
The injured people and surviving families do need to be first in line at any assets.
@ludwigk:
One article I read said they were less than 5% of the total peanut butter market.
So other than the collateral damage to the entire peanut industry, there won't be any price increases, probably a decrease because people are going to stop buying the stuff for a few months.
@Patrick Henry: This is really mesmerizing. I've never played anything past VII; it's good to know they kept at least the opening fanfare for most of the sequels. Here's hoping XIII remains true.
True, but they didn't verify the products that they shipped themselves, it does make them at least partially liable.
@Alex Chasick: Has it ever bugged anyone that they call it "final" fantasy"? Its like, get it over with already!
@karlsl:
That was my thought as soon as I heard this. They are not going to be able to get any more money out of this...
They may be able to sue him personally. After saying, ""to turn the raw peanuts on our floor into money," there is no reason why he should not be used personally and put in jail for murder.
@catnapped: I thought we already did that with massive company bailouts...these guys missed there chance. :)
@Davan: It was called "Final Fantasy" not because of the game, but because when the first one was made, the staff of the studio that made it thought it would be the last game they could make before they'd go out of business. Who knew it would end up launching them to being one of the best known developers in the game industry?
@Skunky: It was definitely a crapshoot because I don't recall any good titles from Square before Final Fantasy, so I don't think they even had a good reputation to start with.
That's the problem with Corporations. They are a "Person", so many times you can't sue the actual people who made the decisions. And you can't sue the Corporation, either, since that "Person" is effectively dead. But is this enough to pierce the corporate veil in a civil suit, or potentially criminal case?

























It's about damned time!