DC marathon organizer files for bankruptcy

Robert Grumbine

In article <3E9BD72C.8F4DABE3@adelphia.net>, Chris Smith <cswriter@adelphia.net> wrote:
>The other running shoe drops. -cs
>
>http://www.washingtonpost.com/wp-dyn/articles/A25905-2003Apr14.html

A key excerpt:

On March 19, H2O cited security concerns when it canceled the March 23 race because of the impending
U.S. war in Iraq. But District officials said they had not been consulted and questioned whether
organizers had enough money to stage the event. In its filing Thursday, H2O listed $68,950 in assets
and $1.3 million in liabilities, according to court documents.

"How much debt would they have had had they not received the $400,000 in entry fees?" Tony Bulloch,
spokesman for Mayor Anthony Williams, said yesterday. "The security of the race was not the issue.
This company had gotten itself into significant financial trouble."

>

--
Robert Grumbine http://www.radix.net/~bobg/ Science faqs and amateur activities notes and links.
Sagredo (Galileo Galilei) "You present these recondite matters with too much evidence and ease; this
great facility makes them less appreciated than they would be had they been presented in a more
abstruse manner." Two New Sciences