Editorial: Navajo Nation makes a mess of loan
Tuesday, September 25, 2007
Filed Under:
Opinion
"The Navajo Nation's economic leaders, its government leaders, and those involved on a local level should all be ashamed of themselves for the BCDS Manufacturing debacle.
It is an embarrassment that should be considered a crime, and may well be before all is said and done.
The Navajo people deserve better.
BCDS Manufacturing Inc. is a steel and fiberglass fabrication factory in the Navajo Nation town of Shiprock. However, it is not making its loan payments.
Somehow, despite what should have stood out as a glaring caution sign in bright lights, Navajo leaders involved with this mess forgot to check the background of the outsider wanting to develop this company. It turns out he has a criminal record that might not make him so attractive for investing millions of precious Navajo dollars to support a startup business.
But invest millions the Navajo leadership did."
Get the Story:
Editorial: Navajo loan mess becomes big waste
(The Farmington Daily Times 9/25)
Relevant Links:
Navajo Nation -
http://www.navajo.org
Related Stories:
Navajo Nation pays off company's loan
(9/19)
Editorial: More poor
planning on Navajo Nation loan (6/20)
Navajo Nation didn't check
background before loan (6/7)
Navajo Nation investigates
alleged loan misuse (6/6)
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