No, it's not going to do that, SH. "The development group" isn't really
a single business of any kind, either public or private, so there is no
"it" to go into bankruptcy.
"Its" partners are the University of Pennsylvania, which is nowhere near
bankruptcy, and the Hilton chain (there've been no large-scale collapses
in the hospitality industry yet, although these are certainly tough
times for restaurants and probably for hotels as well). Perhaps there
are other real-estate operators with tiny stakes.
Unlikely the Campus Inn matters enough to any of its participants to
thrust them into insolvency. Failure of the project might mean a few
people who are working on its plans may be cut by their employers or
have their careers dampened.
Of more importance to the rest of society, it would cause several major
business contracts not to be written and hundreds of people not to get
new jobs, precisely as we slide into a global recession. These are the
kinds of economic issues at stake for policy-makers in this controversy.
-- Tony West
Hi,
Could someone spell this out for me?
Does this mean the campus inn development group is going to file for
bankruptcy?
- SH
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