Skip to comments.Acorn on Brink of Bankruptcy, Officials Say
Posted on 03/20/2010 4:18:02 AM PDT by Sub-Driver
Acorn on Brink of Bankruptcy, Officials Say By IAN URBINA
BALTIMORE The community organizing group Acorn, battered politically from the right and suffering from mismanagement along with a severe loss of government and other funds, is on the verge of filing for bankruptcy, officials of the group said Friday.
Acorn is holding a teleconference this weekend to discuss plans for a bankruptcy filing, two officials of the group said. They asked not to be identified because they were not authorized to speak to the news media.
Over the last six months, at least 15 of the groups 30 state chapters have disbanded and have no plans of re-forming, Acorn officials said. The California and New York chapters, two of the largest, have severed their ties to the national group and have independently reconstituted themselves with new names. Several other state groups are also re-forming outside the Acorn umbrella, and will not be affected if the national organization files for bankruptcy.
This week, the Maryland chapter announced that it would not reopen its offices, which were shuttered in September in the wake of a widely publicized series of video recordings made by two conservative activists, posing as a prostitute and a pimp, who secretly filmed Acorn workers providing them tax advice. In the videos, Acorn workers told one of the activists, James E. OKeefe III, how to hide prostitution activities from the authorities and avoid taxes, raising no objections to his proposed criminal activities.
(Excerpt) Read more at nytimes.com ...
Oh, pshaw. The Deems will just pass an ACORN tax.
Another government funded program that failed or losing money? No... I don’t believe it! nonsense...
oh no they aren’t....
a few days ago, they restored FULL funding to ACORN
I read that one also.
There’s so much information and misinformation floating around nowadays a person doesn’t know what to believe.
BS they were just giving their funding back,,,are reorganizing under a new name.
these pieces of crap have Obama and Soros watching their flank...if they disappear they will reappear as something else....probably worse.
think the disappearance of the SA and the increase in power to the SS and Gestapo
You got that right!
“The Deems will just pass an ACORN tax”
This soros funded organization won’t mind walking away from any financial obligations since it was already in possession of a great deal of the taxpayers money—and will continue to keep our money under the new corporations it sets up under different names with the same people in charge.
Thank you for posting the link. I wondered about that, thought I'd heard that the funding was restored....
Propaganda and lies.
Oh don’t worry, we will be forced to bail them out with our tax dollars.
Couldn’t happen to a more deserving group, but there’ll be a Dim bailout.
Any outfit run by thieves, will go bankrupt sooner or later.
As Willy Sutton once said when asked why he robbed banks, “Because that’s where the money is.”
The article says the big chapters are reconstituted under different names. They are not gone, just wearing different clothes. We don’t know how much of the unspent stimulus money will be used to fund these new named groups dedicated to job formation.
As long as there is an Obama, there will be Acorn
Oh PLEASE!! Bammy and the Black Caucus will give them a BILLION DOLLARS of OUR MONEY!!!
Lets not forget the sectretary of state project.
Stealing elections, one secretary at a time.
I thought Obama turned the spigot back on for the thirsty ACORNs yesterday?
Sob story BS by ACORNS greatest fan. I hope Bertha the Hutt can find some part time work in the meantime. /s
Moral, financial or both?
red herring......they just refunded them.
Seriously, we should make sure some conservative in Congress keeps the funds cut off, then somebody (Judicial Watch, Landmark Legal) should hit them with another lawsuit to force them to have to spend some more money so they go completely over the brink.
That does not stop the need for civil and state criminal RICO suits be be brought to bear on ACORN in every state of the union, especially Louisiana.
In the RICO suit legal discovery, we should be looking for links to SEIU, so we can hit them with RICO as well and bring them down.
"Over the last six months, at least 15 of the groups 30 state chapters have disbanded and have no plans of re-forming, Acorn officials said. The California and New York chapters, two of the largest, have severed their ties to the national group and have independently reconstituted themselves with new names. Several other state groups are also re-forming outside the Acorn umbrella, and will not be affected if the national organization files for bankruptcy."
This sounds like a planned defensive maneuver. Perhaps to shore up the national finances, perhaps so the local offices can continue to function unencumbered by the national organization bankruptcy, perhaps to sever ties to any legal discovery actions can be limited to the national organization only.
I don't trust ACORN.
Acorn was a corporate entity.
Corporate entities are dime a dozen.
There are merely new accounts into which funds will flow
All RIGHGHT!!!! Finally!
Never fear! Obombshell will give them some Thuguless booty!
How did the Old York Times find out about James O’Keefe? That there is some fine journalism.
Pray for America
Obama is sending ACORN billions now...
They already blew thru the billions that 0bama gave them ?
Your not suggesting the story is smoke and mirrors are you? (Grin)
Collapse one group that gets exposed and create another..
On a dark day, a little bit of light shines through.
FReep mail me if you want on/off the list.
Ohio and Maryland — GONE.
48 more to go.
This is a matter related to another thread you’d posted to.
Thanks for the ping.
"By the time the scandal over the videotaped employees erupted, he was already done with Acorn, he said, and he now believes it needs to reinvent itself with a new mission and a new name."
This guy needs not to worry. That's exactly what leftists do anytime they are exposed to the point of not "progressing" - they continue the same behavior under a new name or euphemism.
An ACORN by any other name produces the same. Leftist activists don't just stop being leftists activists.
So what will the new name and the new money for them be?
:’) Thanks Clintonfatigued.