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Chinese Conglomerate HNA Group Slumps Into Bankruptcy The parent of Hainan Airlines is looking to restructure its debts and shed non-core subsidiaries after coming under government control. One of China s most aggressive buyers of overseas businesses says it is bankrupt, and will seek reorganizing. Shares of affiliates of the HNA Group have slumped on Monday as a result. HNA, the parent of the Chinese carrier Hainan Airlines, says it has received a formal notice from Hainan High People s Court, in which a creditor has filed for the reorganization of the company because it cannot pay off its debts. The subsidiaries Hainan Airlines, HNA Infrastructure and CCOOP also said on Saturday that US$9.6 billion has been embezzled by shareholders and other related parties, according to Reuters. The companies gave no further details, but the announcement sets up the prospect of criminal retribution against the former owners and managers of the companies. It s common pra ....
Discover Schenectady announces Todd Garofano as new executive director | The Daily Gazette SECTIONS Todd Garofano, a Capital Region resident with 25 years of experience in hospitality and tourism, will begin as executive director of Discover Schenectady this month, according to an announcement Wednesday from the board of directors. Garofano comes to the county’s tourism promotion agency after serving eight years as the president of Discover Saratoga. He also worked in sales and marketing positions at Amtrak and Carlson Hotels Worldwide. Garofano said he’s most looking forward to “building upon” Schenectady’s pre-pandemic momentum. “As we go through this pandemic, and beyond, it is and will be very important to highlight the health and safety protocols that have been implemented, as developed through the #SchenectadyStrong initiative,” Garofano said. “[This] ensures visitors and locals alike that it is safe to come to Schenectady to visit any o ....
https://www.hangthecensors.com/485290.html (Natural News) Domestic namesakes like General Electric and General Motors have long been seen as icons of American industry. As it turns out, though, these and many other corporate giants are owned, at least in part, by communist China. GM, America’s largest automobile manufacturer, is partially owned by the Shanghai Automotive Industry Corp. – and has been since 1998. The two companies work in partnership to keep the American brand alive and kicking. A similar situation is true of GE, though this “Made in America” giant is completely owned by the Chinese company Haier, which purchased it for $5.4 billion in 2016. GE’s products are still made in the United States, but all company decisions are made in China. ....