Shawano, WI | Earlier this week, SIST (Dr. R.C. Samanta Roy Institute of Science and Technology), a locally based corporation filed for bankruptcy for the second time. The petition filed estimated assets of up to $10 million and liabilities of up to $50 million. Why did this make nationwide news? Is it because the corporation is so large? Is it because the corporation is filing on such a large sum? No, that can’t be, because in the last 10 years several well known corporations have filed and they had many times more liabilities to report than SIST. SIST has filed pennies compared to what many corporations and businesses are doing in the country today. The whole nation is going bankrupt.
United Airlines –2002 – $25.2 billion
Pacific Gas and Electric – 2001 – $29.8 billion
Global Crossing – 2002 – $30.2
Refco – 2005 – $33.3 billion
Conseco – 2002 – $61.4 billion
Enron – 2001 – $63.4 billion
Worldcom – 2002 – $103.9 billion
Lehman Brothers – 2008 – $639 billion
just to name a few…
After reviewing those amounts it can’t possible be because SIST is filing on record asset/liability figures. So what is at the heart of this statewide going nationwide media agenda?
Shawano city officials and law authorities have created numerous problems over the years for SIST. Somehow because SIST was founded by an East Indian businessman the corporation has been targeted for ruin. Shawano Mayor Lorna Marquardt in particular has had it out for this corporation since she became mayor in 2002, even including SIST’s collapse as part of her campaign promise. Not only is SIST’s founder dark skinned but he is also not Christian. This fact in particular seems to rub certain townspeople the wrong way, specifically Lorna. Incident after incident has shown the deliberate misuse of authority and the law. You can read about many of these incidents here in this blog. (see Shawano)
Regardless of all that, this corporation has been smeared all over the media with the intent to cause harm, disrupt and destroy positive business relations between the SIST businesses, its vendors and customers. Indeed it has caused undue suspicion and hate in the community and worse, financial distress, which has led to the current predicament. And this is a democracy? A land that is supposed to defend its people and their rights, promote liberty and deliver justice? Where is the justice for this corporation? Ask Lorna – firstname.lastname@example.org.