Tuesday, June 29, 2010

From Advance Indiana's Blog

The Republican-controlled Indianapolis City-County Council wrecklessly approved at tonight's council meeting a whopping $16 million contract for a publicly-traded company that has been losing millions of dollars a year and was facing potential delisting as a publicly-traded company on NADAQ for the second time because its stock has consistently traded below $1. As recently as March 31 of this year, Zanett, Inc. warned investors that debt-refinancing issues could force it out of business. The council approved Zanett's contract by a 15-11 vote with most Democrats voting against it.

It's all here.

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