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Gingrich think tank files for bankruptcy

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posted on Apr, 5 2012 @ 12:54 PM
Gingrich think tank files for bankruptcy
By David Edwards
Thursday, April 5, 2012 12:31 EDT -- The Raw Story

This could be the bell ringer for Gingrich to end his campaign.

His Healthcare think tank has apparently tanked.

The Gingrich Group LLC, dba the Center for Health Transformation
Has filed for Chapter 7 bankruptcy.

Perhaps they needed ObamaCare

Republican presidential candidate Newt Gingrich’s health-care think tank on Wednesday filed for Chapter 7 bankruptcy, with up to $10 million in debt and as little as $50,000 in assets.

The Atlanta Business Chronicle first reported on Thursday that The Gingrich Group LLC, doing business as the Center for Health Transformation, filed for bankruptcy in the U.S. Bankruptcy Court, Northern District of Georgia.

The bankruptcy filing (PDF) indicates that the organization has between 50 and 99 creditors, assets between $50,000 to $100,000 and liabilities of $1 million to $10 million.

The Washington Post reported last year that the Center for Health Transformation had collected more than $37 million from health care insurers and other industry grounds since opening in 2003. The think tank offered health-care companies “access to Newt Gingrich” and “direct Newt interaction.”

Firms like AstraZeneca, Blue Cross Blue Shield and Novo Nordisk were included among some of the biggest funders.
I wonder who got all that money ?

read the article for more exposure !!

posted on Apr, 5 2012 @ 02:12 PM
reply to post by xuenchen

So a think tank is bankrupt.........mental bankrupcy anyone?

Much like the man whose name was the organization.

Gotta love the irony.


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