Daily Archives: July 29, 2017

Donald Trump Hints at Ending Subsidy That Gives Health Care to the Poor – Fortune

Posted: July 29, 2017 at 7:41 pm

WASHINGTON, DC - U.S. President Donald Trump (Photo by Win McNamee/Getty Images)Win McNamee Getty Images

President Donald Trump hinted that he may end a key Affordable Care Act subsidy that makes insurance accessible to poorer Americans, a move that may critically destabilize health-insurance exchanges.

The administration has previously floated the idea to halt subsidies that help insurers offset health-care costs for low-income Americans, called a cost-sharing reduction, or CSR. In a tweet on Saturday, Trump hinted at ending that program.

If a new HealthCare Bill is not approved quickly, BAILOUTS for Insurance Companies and BAILOUTS for Members of Congress will end very soon! the president said in a tweet on Saturday.

It was unclear if Trumps message means he also plans to directly target subsidies that are available to health insurance policies for some Congressional staff members. The White House declined to comment further on Trumps tweet.

A months-long effort by Senate Republicans to pass health-care legislation collapsed early Friday after Republican John McCain of Arizona joined two of his colleagues to block a stripped-down Obamacare repeal bill. McCains no vote came after weeks of brinkmanship and after his dramatic return from cancer treatment to cast the 50th vote to start debate on the bill earlier in the week. The skinny repeal bill was defeated 49-51, falling just short of the 50 votes needed to advance it. Republicans Susan Collins of Maine and Lisa Murkowski of Alaska also voted against it.

For more on the efforts to repeal the ACA, click here.

Ending the CSR subsidies, paid monthly to insurers, is one way that Trump could hasten Obamacares demise without legislation, by prompting more companies to raise premiums in the individual market or stop offering coverage. The administration last made a payment about a week ago for the previous 30 days, but hasnt made a long-term commitment.

Responding on Twitter, Andrew Slavitt, acting administrator of the Centers for Medicare and Medicaid Services in the Obama administration, said the impact of cutting off subsidy payments will be felt by the middle class who will pay more to subsidize low income.

The next payments are due Aug. 21. On Friday, health-care analyst Spencer Perlman at Veda Partners LLC said in a research note that theres a 30 percent chance Trump will end CSR payments, which may immediately destabilize the exchanges, perhaps fatally.

Americas Health Insurance Plans, a lobby group for the industry, has estimated that premiums would rise by about 20 percent if the CSR payments arent made. Many insurers have already dropped out of Obamacare markets in the face of mounting losses, and blamed the uncertainty over the future of the cost-sharing subsidies and the individual mandate as one of the reasons behind this years premium increases.

Moments after the Senate voted down the Republican bill on Friday morning, Majority Leader Mitch McConnell called on Democrats to offer their ideas for moving forward with health care. But he warned, Bailing out insurance companies, with no thought of any kind of reform, is not something I want to be a part of.

A survey in April by the nonpartisan Kaiser Family Foundation showed that 61 percent Americans believe Trump and Republicans are responsible for future problems with the ACA, while 31 percent said President Barack Obama and Democrats would be at fault.

See more here:

Donald Trump Hints at Ending Subsidy That Gives Health Care to the Poor - Fortune

Posted in Donald Trump | Comments Off on Donald Trump Hints at Ending Subsidy That Gives Health Care to the Poor – Fortune

Donald Trump Is A Terrible President, According To His Own Tweets About Obama – Newsweek

Posted: at 7:41 pm

Donald Trump is a terrible president, and one of his own worst criticsat least, according to his own analysis of former President Barack Obama.

If Obama-era Donald Trump could offer his criticisms on the current White House administration, beleaguered by internal disorder and a stalled agenda, via some sort of Twitter time machinethey probably wouldnt sound toopretty.

That historic version of thecommander-in-chief would decry his own excuses for being unable to pass any major legislation in six months, saying its "BS since he had full control"in both Houses; just as he said about Obama.

Daily Emails and Alerts - Get the best of Newsweek delivered to your inbox

If somehow possible, 2012-Trump would slam 2017-Trump for his series of controversies following the G7 summit in Sicily, when he pulled out of the Paris Climate Accordand the G20 in Germany, when he met with Russian President Vladimir Putin and discussed creating a cybersecurity group after his nation meddled in the 2016 presidential election.

Trump "is a disaster at foreign policy,"hed likely say, as he did in September 2012. "Never had the experience or knowledge. He is not capable of doing the job."

"We pay for his golf,"hed complain.

When looking through the presidents tweets from days past, his views on the Obama White House and all of Washingtons flaws seem to foreshadow the exact problems hed soon face after assuming the Oval Office. Its as if a distant, previous Donald Trump is echoing through the Twittersphere, begging the new president to heed his own advice through the constant rebukes and rejection of then-President Obama.

Call it the theory of "Trumpodynamics, as some users have coined it: for every action he takes as president, there is an equal and opposite Trump tweet disagreeing with it.

Trump, the first president in over 40 years who hasnt released his tax returns, used to rail on Obama as "the least transparent presidentever."

Imagine what that Trump must think of the man now seated at the Resolute Desk.

Hed attack todays Trump for "constantly issuing executive orders that are major power grabs of authority,"as he did to Obama in July 2012 when the president signed an order on federal communications during national security and emergency preparedness.

In his first 100 days as the leader of the free world, Trump set a record for the most executive orders ever signed into law since World War Two.

His contradictions in shooting down Obama to his own time in office run the gamut.He apparently no longer believes the president needs to hold China accountable for currency manipulation (Trump hasstated as president that China does not manipulate its currency after tweeting that it does for years),to whether a leader should focus on governing, instead of campaign rallies and huge speeches in states he won a majority of the vote.

And when it comes to vacation time, pre-election Trump sold Americans the biggest dream of all in his tunnel-vision focus on Obama's travels.

It's virtually impossible to keep up with Trumps opinions on any number of issues, as the president is fluid in his stances on matters ranging from national topics like LGBT workplace protections to global policy concerns, including NATO. But the vast majority of his pre-White House tweets all seem to agree with one thing: by Trump's standards, his own presidency is failing.

Visit link:

Donald Trump Is A Terrible President, According To His Own Tweets About Obama - Newsweek

Posted in Donald Trump | Comments Off on Donald Trump Is A Terrible President, According To His Own Tweets About Obama – Newsweek

Is Donald Trump Funny? – POLITICO Magazine

Posted: at 7:41 pm

Comedy has always had a political edge, but never like this.

Story Continued Below

On late-night shows, in stand-up routines and scripted sitcoms, the opposition to President Donald Trump is more intense than a rally full of pink pussy hats. Hes an endless source of material for joke-writers, but also a five-alarm crisis, with barely a voice in mainstream or alternative comedy that isnt against him. Punchlines morph into earnest manifestos about diversity or health care. The jokes and jeremiads give Trump opponents the release they neednever mind how they might alienate Trump supporters on the receiving end. And they drive Twitter rages from a president who once felt all publicity was good publicityuntil he became pop cultures No. 1 whipping boy.

Maz Jobrani, the stand-up comedian and actor, has been trying to channel his own experience hating and protesting Trump into his work. Marching at LAX against the travel ban becomes one bit. Arguing with his mother about her saying she likes that Trump speaks his mind becomes another. But its hard to be funny when you feel like your country is going to hell, and everything starts to sound more shrill than amusing.

He has emboldened racists. I say that. Theres no joke. Theres no punch line, Jobrani told me, in an interview for POLITICOs Off Message podcast. But I think if you do that, you better have a punch line coming soon.

But he quotes a line from the comedian D.L. Hughley: Comedy is like giving people their medicine in orange juice. They dont taste it.

Stephen Colbert, who since the election dropped the pretense of playing it down the middle in his new role at CBS, has turned non-stop mocking Trump into skyrocketing ratings. Jimmy Kimmel turned a monologue about Obamacare into what amounted to a viral ad denouncing Republicans perceived cruelty. Weekend Update is coming back early, ahead of the new season of Saturday Night Live, which will have Alec Baldwin back in his Trump wig, though Sean Spicers departure will probably mean fewer Melissa McCarthy cameos behind her rolling podium.

Appearing on Colberts show on Wednesday night, satirical filmmaker Michael Moorea cartoon of the left himself who nonetheless predicted Trump would win last yearargued that McCarthy should get the credit for taking down Spicer. We need an army of satire, he said. A few minutes later, James Corden opened his CBS show following Colbert in a top hat and tux, singing a parody mocking Trumps tweeted transgender ban for the military.

Jobrani knows its all deepening the chasm between conservatives and the entertainment worldbut he doesnt care.

Trump supporters or people on the right, whenever Ive doneeven under Bush, when I would do jokes, they felt like I was attacking them. And Im not attacking you, Im attacking this politician, he said. If youre going to take it personally, like its yourlike Im making fun of your mother, then thats an issue you have.

Jobrani says that people who cant laugh at Trump are just too invested in the president, and not invested enough in the free speech and critical thinking that to him is the whole point of democracy. Hes heard the response that comes back: Well, then, why dont you make fun of Obama? Because he just didnt do a lot of stuff that was funny to me.

Jobrani arrived in America when he was six, on a visa he may or may not have overstayed illegally: His father brought him and his sister on what was supposed to be a two-week trip for their winter break in 1978, but decided in the face of the Iranian Revolution not to go backon such short notice that theyd left his baby brother behind with relatives. He recorded his new comedy special out on Netflix next week, Immigrant, on stage at the Kennedy Center in April with a giant photo of his Iranian passport picture projected above him, inspired by his reaction to Trump.

Raised near San Francisco, Jobrani was in a political science Ph.D. program at UCLA before dropping out for a performing career that started out with many roles as a terrorist. But its the stereotyping hes seeing going on now, in real life, that has him worried.

No matter how American I amIve been here for most of my lifethere are people that still dont consider me American, Jobrani said. Its like, OK, if youre going after green card holders, whats next?

His routine about the travel ban centers around how differently he and other darker-skinned marchers at LAX in February reacted to the police, compared with the white people who were there. In his joke, everyones in it together, marching, chanting, yellinguntil the police show up, and he says the white people got right in their faces, while he and the other non-white people in the crowd quietly edged away.

That feeling is real, he said, accentuated by a climate Trump has encouraged.

I feel, somewhere in the back of my mind, I would feel like they could take my citizenship away, and send me back to Iran, Jobrani said. I honestly do feel that there is a thing in my mind that my rights could be taken away at any minute. And not just my rights; anybodys rights.

Jobrani has been profiled by casting agents and TSA agents alike, but he said he doesnt mind how thats played into his current big role. On the CBS sitcom Superior Donuts, the Iranian-born actor plays an Iraqi, and one with a much stronger accent in English than he has in real life. He asked the writers about making the character, a dry cleaner, Iranian, offering to bring knowledge and a little Farsi to the role, but they saw the humor in lines that referenced living through a war. He noted to them that the Iran-Iraq War could provide that material, but they told him they didnt think most Americans would be familiar enough with that.

Its an awkward fact that playing around with ethnic stereotypes has boosted Jobranis career, as with so many comedians of color. Does that make him uncomfortable? Not really, he insistsbut hes thought about comedian Aziz Ansaris plea to non-white actors to avoid playing up their accents and other stereotypes (a big theme of Ansaris first season of Master of None). Jobrani sees his Faz as in the tradition of Danny DeVitos Louie DePalma on Taxi and Rhea Perlmans Carla on Cheers.

To have a character with an accent making people in middle America, or wherever it is, laugh, I actually think thats progress, because whether hes like, saying ludicrous stuff, or some of his stuff is like sexist or whatever, I still feel that we are taking a step in the right direction, Jobrani said. It reminds you that there are peopleimmigrantsthat are just businessmen, that are going to say stuff that is ridiculous. But I think its a drop in this big pond that goes in the right direction.

Others in Hollywood have pushed for more. Arnold Schwarzenegger, in a recent speech at the Creative Artists Agency, urged the crowd to channel their frustration with Trump and whats happening into scripts and other ways of shaping the popular imagination.

I want them to know that they have power, Schwarzenegger said in his own recent Off Message podcast interview. If they go out and they rally and they go and let their frustration be heard and go and join a movement or whatever it is, be involved and don't just sit there and look at the news and look at the news and look at the television and then complain. Thats not good enough.

Like most comedians, Jobrani has left most of the material recorded in his special behind and is working on new bits. Hes trying to tell jokes about being a father, about his son and daughter, but up on stage, its the political stuff that ends up getting most of the laughs in spite of his best efforts.

Even though Im not trying to do Trump jokes, I end up doing Trump jokes, he sighed. But Im exhausted of Trump jokes.

Originally posted here:

Is Donald Trump Funny? - POLITICO Magazine

Posted in Donald Trump | Comments Off on Is Donald Trump Funny? – POLITICO Magazine

Donald Trump’s manic, fantastical and utterly disastrous week – CNN

Posted: at 7:41 pm

Chances are that you can't. In fact, if you're like most of the political world, Monday feels as if it happened a month ago.

This is the nature of time in the Donald Trump presidency. There are so many storylines every single day that it's impossible to keep up with them even for a 24-hour news cycle. Some of this is, of course, strategy on the part of the President -- if you throw 1,000 balls in the air, any one person can only hope to focus on a few in hopes of catching them.

But, ascribing strategy to every ball Trump throws may be giving him and his White House too much credit. The truth is that this is a President who creates chaos in and around him. He acts, and then watches the wildness that ensues. The plan, seemingly, is that there is no plan.

He's the man knocking down the first domino in a massive chain that spiders in a thousand different directions. Or, maybe even more apt: He's smashing the ice on a thinly frozen pond and watching as the cracks spread out around him -- endangering both himself and anyone else unlucky enough to be sharing the ice with him.

Every week at the manic pace Trump keeps feels like a blur -- none more than this week, in which the President and his administration lurched from controversy to cataclysm to convulsion and back, all in the space of five days.

Let's go through the week that was:

"McMaster is at odds with President Trump on many key national security issues," reported CNN. "McMaster has also found himself undercut by others in the President's orbit like chief strategist Steve Bannon."

Later in the day Trump delivered a humdinger of a speech to police officers in Long Island on the dangers posed by the MS-13 gang, which he derided as "animals." He also appeared to condone violence against criminals; "And when you see these towns and when you see these thugs being thrown into the back of a paddy wagon you just see them thrown in, rough I said, please don't be too nice," Trump said.

Just before 5 p.m. Eastern Time, Trump announced -- via Twitter -- that he had fired Reince Priebus as chief of staff and replaced him with John Kelly, the secretary of the Department of Homeland Security.

It was a month's worth of bad news -- and maybe several months' worth -- in a single week. (And the week isn't even over yet.)

Consider this: If an episode of "West Wing" had the plot outlined above, Aaron Sorkin would likely have rejected it as too fantastical. There won't ever be THAT much -- and that much bad for the President -- happening in a single week, you can imagine him saying.

And, up until Donald Trump became the President, he'd have been right. But in this reality show presidency, the truth is stranger than fiction. And a week can seem to last a month.

This story has been updated.

Here is the original post:

Donald Trump's manic, fantastical and utterly disastrous week - CNN

Posted in Donald Trump | Comments Off on Donald Trump’s manic, fantastical and utterly disastrous week – CNN

Who’s Afraid of Donald Trump? Good Question. – TIME

Posted: at 7:41 pm

Donald Trump doesnt scare Washington anymore.

That was the lesson from a week of stinging defeats for the President, from the halls of Congress to the homepage of Breitbart. Not long ago, Trump could tank a companys stock price with a Twitter blast and cow Republican allies into silence when he trampled political norms.

But these days, Trump doesnt have much juice in the capital.

The President was disengaged throughout much of the Senates dramatic fight over healthcare reform, even though his administration made the repeal of the Affordable Care Act its first big legislative priority. When Trump finally waded into the fray late in the gameafter Republican leaders had failed to rally the votes for the plan they crafted and Trump blessedhis tweeted threats failed to sway GOP Senate holdouts.

Lisa Murkowski was the primary target of Trumps ire. On Wednesday, the President took aim at the Republican senator from Alaska, tweeting that Murkowski, a moderate in her fourth term, really let the Republicans, and our country, down yesterday. Too bad! Then Trump tapped his Interior Secretary, Ryan Zinke, to ramp up the pressure. Murkowski received a phone call warning that a vote against the bill could jeopardize her states chances of getting approval from the administration on energy projects.

How did Murkowski respond? By standing her ground. First, she went public with the threat, which embarrassed the administration and led Democrats to threaten an investigation. Then she went to the Senate floor early Friday morning and cast one of the three votes required to tank the Republican repeal plan.

Sen. John McCain, whom Trump targeted for derision during the 2016 campaign, joined Murkowski and Maines Susan Collins in voting against the bill. His decisive vote followed impassioned pleas from Vice President Mike Pence and a call from Trump himself, Republican officials say.

When the President went to war on his own attorney general this week, conservative media outlets normally friendly to Trump leapt to Jeff Sessions defense instead. Breitbart News, one of Trumps top cheerleaders, called Sessions a man who embodies the movement that elected Donald Trump President. Ann Coulter and Rush Limbaugh criticized Trumps handling of the spat. Outside groups rallied Tea Party leaders and lawmakers to Sessions defense, and Judiciary Committee Chairman Chuck Grassley publicly warned his committee would not consider another nominee for the post this year. The battles lines had been drawn, and conservatives stood on Sessions side.

Meanwhile, congressional Republicans were making life difficult for Trump on another sensitive front. Both houses of Congress voted nearly unanimously to impose new sanctions on Russia, sending a bill to Trumps desk that the White House has criticized. The move put the President in a bind: veto the billwhich Congress can override anywayand risk looking as though he was taking a soft line on Moscow in the midst of deepening investigations into whether members of his campaign colluded with Russia during the 2016 election. Or sign it and risk retaliation from President Vladimir Putin.

White House officials expect Trump to sign the legislation, but to issue a signing statement outlining his reservations on the bill. Whats clear from the vote tally is that House and Senate Republicans didnt much care about putting the President in a predicament. After all, theyd watched Trump twist arms to help get the healthcare repeal bill over the line in the House, only to turn around and call the legislation mean.

Even the military pushed pause on their commander in chiefs orders this week. In a series of tweets this week, Trump announced that transgender men and women would no longer be able to serve in the U.S. armed forces. The decree caught the Pentagon by surprise, with even the Joint Chiefs left unaware beforehand of Trumps order. The Pentagon swiftly put the burden of clarifying the policy on the White House, and informed commanders that Trumps tweets had no practical effect until that happened.

Trump remains a formidable foe. He has the bully pulpit of the presidency at his disposal and a loyal base that has largely stuck with him through the fumbles and controversies that marred his opening months in office.

But the series of sharp rebukes this week highlighted how quickly Trumps political capital has eroded. Presidents are typically near the apex of their influence in the months after an election, riding high off their inauguration and enjoying a honeymoon in the polls. But Trump is shattering convention there as well. His approval rating hasnt been north of 40% in more than a month, setting new records for unpopularity so soon into an administration.

Maybe its no wonder few people in town seem afraid of him.

Read this article:

Who's Afraid of Donald Trump? Good Question. - TIME

Posted in Donald Trump | Comments Off on Who’s Afraid of Donald Trump? Good Question. – TIME

Westinghouse needs more time in crafting bankruptcy plan – Pittsburgh Post-Gazette

Posted: at 7:41 pm

Westinghouse Electric Co. has finalized its business plan, but its strategy is not yet ready for prime time, the bankrupt nuclear technology firm said in a court filing on Wednesday.

Cranberry-based Westinghouse asked a New York bankruptcy judge to allow the company an extra three months to file a reorganization plan.

Westinghouse filed for bankruptcy protection in late March in an attempt to wall off its profitable businessessuch as servicing operating nuclear plants and supplying them with fuel from its spiraling and money-losing involvement in the construction of four new nuclear power plants in Georgia and South Carolina.

Less than four months (later), Westinghouse has made substantial progress toward achieving these goals, the company said in court records.

Given the complicated nature of the business the company hasthousands of vendors, some 37,000 creditors and five different business lines that serve more than half of the nuclear power plants in the world -- more time is needed, Westinghouse said.

While Westinghouse was able to strike a deal for Southern Co., the parent of the Vogtle project in Georgia, to take over the construction of the nuclear power plants there, it is still negotiating with Scana Corp., which owns the V.C. Summer project in South Carolina.

Companies in bankruptcy have a 120-day exclusivity period to come up with a reorganization plan and another 60 days to try to gain approval of it without worrying about creditors or others introducing competing plans. Westinghouse is seeking to extend both deadlines until Dec. 6 and Feb. 4, 2018, respectively.

Spokesperson Sarah Cassella said the extension has been anticipated since the outset of our Chapter 11 cases, and has no practical impact on Westinghouses day-to-day operations.

The company delivered a business plan to its bankruptcy lenders on Thursday -on schedule, Ms. Cassella said.

In a related filing on Wednesday, Westinghouse also asked for more time to decide the fate of 60 property leases, including for space at its Cranberry headquarters, and others in Warrendale, Youngwood, Monroeville, New Stanton and Pittsburgh.

A hearing on these motions is scheduled for Sept. 7.

Anya Litvak: alitvak@post-gazette.comor 412-263-1455.

Read this article:

Westinghouse needs more time in crafting bankruptcy plan - Pittsburgh Post-Gazette

Posted in Bankruptcy | Comments Off on Westinghouse needs more time in crafting bankruptcy plan – Pittsburgh Post-Gazette

Sears Canada’s Largest Stockholders Call Off Joint Bankruptcy Bid – Wall Street Journal (subscription)

Posted: at 7:41 pm


Wall Street Journal (subscription)
Sears Canada's Largest Stockholders Call Off Joint Bankruptcy Bid
Wall Street Journal (subscription)
Eddie Lampert and Bruce Berkowitz called off a potential joint bankruptcy deal for Sears Canada Inc., clearing the way for other bidders to challenge its two largest shareholders. The two hedge-fund managers on Friday terminated a joint legal ...

and more »

Read more:

Sears Canada's Largest Stockholders Call Off Joint Bankruptcy Bid - Wall Street Journal (subscription)

Posted in Bankruptcy | Comments Off on Sears Canada’s Largest Stockholders Call Off Joint Bankruptcy Bid – Wall Street Journal (subscription)

Toshiba Bankruptcy Filing Pushed by Some Involved in Workout – WSJ – Wall Street Journal (subscription)

Posted: at 7:41 pm


Wall Street Journal (subscription)
Toshiba Bankruptcy Filing Pushed by Some Involved in Workout - WSJ
Wall Street Journal (subscription)
With Toshiba's effort to raise cash by selling its chip unit stalled, a number of creditors and others involved in its restructuring are pushing for a bankruptcy filing ...

and more »

Go here to read the rest:

Toshiba Bankruptcy Filing Pushed by Some Involved in Workout - WSJ - Wall Street Journal (subscription)

Posted in Bankruptcy | Comments Off on Toshiba Bankruptcy Filing Pushed by Some Involved in Workout – WSJ – Wall Street Journal (subscription)

SunEdison wins final approval for bankruptcy exit – MarketWatch

Posted: at 7:41 pm

SunEdisonInc. won final court approvalTuesdayof a bankruptcy-exit plan that wipes out billions of dollars in investments and renders the one-time renewable energy darlinga shadow of its former self.

Following a hearing at theU.S. Bankruptcy Court in New York,Judge Stuart Bernsteinsaid he would approve the plan, the culmination of nearly 15 months of hard-fought negotiations betweenthe solar-power developerand its creditors.

SunEdison SUNEQ, +25.23% is expected to formally emerge from bankruptcy byNov. 15, according to its lawyers.

The vast majority of objections to the bankruptcy-exit plan were resolved ahead ofTuesdayshearing.AQR Capital Management LLC, which pressed its objectionTuesdaybut wasoverruled, sought modifications to the plan because of a dispute over a $300 million rights offering, funding that the company says will serve as the backbone of its exit from chapter 11.

An expanded version of this report appears on WSJ.com.

Popular on WSJ.com:

Trump Wont Say if He Will Fire Sessions

The Boss Wants You Back in the Office

More:

SunEdison wins final approval for bankruptcy exit - MarketWatch

Posted in Bankruptcy | Comments Off on SunEdison wins final approval for bankruptcy exit – MarketWatch

Skip Barber reiterates lack of connection to racing school bankruptcy – Racer

Posted: at 7:41 pm

With the bankruptcy filing of the Skip Barber Racing School now making its way through the courts, Skip Barber himself president of Lime Rock Park has issued a statement clarifying the fact that he no longer has any connection with the school he founded.

"It has come to my attention that there are some people both inside and outside the motorsport industry who erroneously concluded that the bankruptcy filing of the Skip Barber Racing School is somehow connected to me. I've even heard reports that 'Skip Barber,' referring to me, is bankrupt," said Barber (pictured above presenting the trophy at the Lime Rock IMSA race earlier this month)."I sold the school in its entirety nearly two decades ago (1999).

"I'm pretty sure I know why this happened. Since the school's founding in 1975, 'Skip Barber' became the universal shorthand for 'Skip Barber Racing School.' So when a headline reads, 'Skip Barber Files for Bankruptcy,' there are people wrongly concluding it means me.

"To be clear: I have not filed for bankruptcy. Lime Rock Park is in fine financial shape. There is nothing connected to the Skip Barber Racing School's attempt to re-organize its business under bankruptcy law that's connected to Lime Rock aside from its outstanding debt to the track.

"Lastly, I want to thank the local, national and international news outlets who, in their very first reporting of the school's bankruptcy filing, made it clear that I have no connection to the Skip Barber Racing School."

The Skip Barber Racing School announced in May that it was filing for bankruptcy protection, with debts in excess of $10m to creditors.

Read more here:

Skip Barber reiterates lack of connection to racing school bankruptcy - Racer

Posted in Bankruptcy | Comments Off on Skip Barber reiterates lack of connection to racing school bankruptcy – Racer