We are thrilled to announce that Geoff “Jeff” Metcalf will conduct a LIVE RADIO INTERVIEW with Col. Roger Charles, editor Stand For The Troops, Wed. Jan 4th at 8PM PST (11 PM EST) Topic: Procurement Scandal over Shoddy Dept. of Defense Approved body armor. SFTT readers are encouraged to call in and listen to the interview by calling in on the following numbers:
703-836-0384 (land line, VOIP) and (cell)
703-980-7551 plus 2d land line (VOIP) 703-836-6736.
With Wall Street protests popping up in many cities in the United States and over 150,000 signatures now collected on a new Constitutional amendment to “get the money out” of politics, it was a bit of surprise to read that Point Blank Solutions has recently received a new $30 million order to produce “Outer Tactical Vests” for the US military.
Why should I be surprised? Well, Point Blank Solutions has been in Chapter 11 (a court-sanctioned ...
Continue Reading →Reuters reports that unsecured creditors of Point Blank Solutions Inc. have asked the Delaware bankruptcy court to appoint an examiner or Chapter 11 trustee to displace the company’s board.
According to the Reuters news release, “the official committee of unsecured creditors claimed that the company had placed the interests of insiders above maximizing value of the business. The filing claims that “restructuring alternatives had benefited Steel Partners, which provided Point Blank with a $20 million debtor-in-possession loan.” According to ...
Continue Reading →Point Blank Solutions Inc., who claims to be the leading manufacturer of body armor, filed for bankruptcy protection on April 14, 2010. Citing Court filings, Reuters reports that the Florida-based (Pompano Beach) company “supplies more than 80 percent of the U.S. military’s soft body armor vest requirements . . .”
Claiming mounting legal bills in the trial of former CEO David Brooks – currently on trial in New York for securities fraud and other related crimes – Point Blank Inc. and three affiliates ...
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