Editorial: Navajo Nation makes a mess of loan

Tuesday, September 25, 2007  

"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)