Comments for Peanut Corp Has Gone Out Of Business

Peanut Corp Has Gone Out Of Business

2009-02-14T04:15:47Z

It was bound to happen, and it looks like it just did: Peanut Corporation of America has filed for Chapter 7 bankruptcy, and will liquidate its assets to pay off creditors.

"Peanut Corp. of America files for bankruptcy" [MSNBC] (Thanks to Liz!)

Comment from darkryd on 2009-02-16

2009-02-17T03:57:07Z

So when's the FDA going to go out of business so we can replace it with a new and fully-functioning regulatory body that actually does its job?

Comment from trujunglist on 2009-02-16

2009-02-17T03:17:20Z

@Alex Chasick:

Wow, that goes for me too

Comment from platoreborn on 2009-02-16

2009-02-16T19:54:27Z

My assets were liquidated from the salmonella they gave me!

Comment from SacraBos on 2009-02-15

2009-02-16T03:21:03Z

That's the problem with Corporations. They are a "Person", so many times you can't sue the actual people who made the decisions. And you can't sue the Corporation, either, since that "Person" is effectively dead. But is this enough to pierce the corporate veil in a civil suit, or potentially criminal case?

Comment from radiochief on 2009-02-15

2009-02-16T02:58:43Z

Great news! Good riddance to these asshats...!

I feel bad for the workers, because corruption that pervasive has to start at the top.

Comment from theblackdog on 2009-02-15

2009-02-16T00:38:10Z

@Skunky: It was definitely a crapshoot because I don't recall any good titles from Square before Final Fantasy, so I don't think they even had a good reputation to start with.

Comment from the_wiggle on 2009-02-15

2009-02-15T10:39:23Z

@bohemian: karma baby

Comment from the_wiggle on 2009-02-15

2009-02-15T10:37:52Z

now, if the bastards who knew & did nothing would just be made to eat some of the product. . . .

Comment from Skunky on 2009-02-15

2009-02-15T05:08:01Z

@Davan: It was called "Final Fantasy" not because of the game, but because when the first one was made, the staff of the studio that made it thought it would be the last game they could make before they'd go out of business. Who knew it would end up launching them to being one of the best known developers in the game industry?

Comment from StreamOfConsciousness on 2009-02-15

2009-02-15T05:05:35Z

@CaptZ: LOL...god I hope not!

Comment from StreamOfConsciousness on 2009-02-15

2009-02-15T05:03:14Z

@catnapped: I thought we already did that with massive company bailouts...these guys missed there chance. :)

Comment from StreamOfConsciousness on 2009-02-15

2009-02-15T05:02:32Z

@Crazytree: That pales in comparison when people are dropping dead from salmonella.

Comment from StreamOfConsciousness on 2009-02-15

2009-02-15T05:02:06Z

Good for them. They do not deserve to be in business...I think they should have the shit sued out of them as well.

Comment from SegamanXero on 2009-02-14

2009-02-15T01:55:34Z

@ugadawg: agree, good riddance!

Comment from savdavid on 2009-02-14

2009-02-14T20:29:50Z

good riddance to the murderers

Comment from Julius Fleschner on 2009-02-14

2009-02-14T20:22:26Z

They are not going to be able to get any money money out of company...

They may be able to sue him personally. After saying, ""to turn the raw peanuts on our floor into money," there is no reason why he should not be used personally and put in jail for murder.

Comment from Anonymous on 2009-02-14

2009-02-14T20:20:34Z

@karlsl:

That was my thought as soon as I heard this. They are not going to be able to get any more money out of this...

They may be able to sue him personally. After saying, ""to turn the raw peanuts on our floor into money," there is no reason why he should not be used personally and put in jail for murder.

Comment from Davan on 2009-02-14

2009-02-14T19:01:12Z

@Alex Chasick: Has it ever bugged anyone that they call it "final" fantasy"? Its like, get it over with already!

Comment from ShadowFalls on 2009-02-14

2009-02-14T14:13:12Z

@bananaboat:

True, but they didn't verify the products that they shipped themselves, it does make them at least partially liable.

Comment from Crazytree on 2009-02-14

2009-02-14T12:28:25Z

how many people are out of jobs?

Comment from Alex Chasick on 2009-02-14

2009-02-14T12:17:38Z

@Patrick Henry: This is really mesmerizing. I've never played anything past VII; it's good to know they kept at least the opening fanfare for most of the sequels. Here's hoping XIII remains true.

Comment from Alex Chasick on 2009-02-14

2009-02-14T12:11:03Z

@Skunky: I'm glad I'm not the only person who hears the victory fanfare when good things happen!

Comment from Skunky on 2009-02-14

2009-02-14T11:23:22Z

@Patrick Henry: Thanks, hee hee hee!

Comment from karlsl on 2009-02-14

2009-02-14T10:13:07Z

THAT SUCKS!! NOW THE COMPANY IS OUT OF BUSINESS. WHOM CAN THE VICTIMS SUE??? there are victims out there who are hospitalized or dead. The president of this company should be go to jail for this...

Comment from floraposte on 2009-02-14

2009-02-14T09:33:56Z

@pollyannacowgirl: True, but then they're not innocent.

Comment from pollyannacowgirl on 2009-02-14

2009-02-14T08:35:28Z

As it should be. Although I hope no innocent employees suffer.

I know they should have been whistle-blowers, but in this economy, I'd be more than prone to keeping my eyes, ears and mouth shut just to keep a job.

Comment from CaptZ on 2009-02-14

2009-02-14T08:05:51Z

Peanut gallery......I see what you did there.....

Comment from catnapped on 2009-02-14

2009-02-14T07:47:56Z

Isn't anyone going to show some sympathy for those poor mistreated company executives?

(just getting in the customary "blame the victim" post in before the peanut gallery can)

Comment from youbastid on 2009-02-14

2009-02-14T07:47:40Z

This is nothing. The upper management of this company should be prosecuted and thrown in jail.

Comment from Greasy Thumb Guzik on 2009-02-14

2009-02-14T06:36:33Z

@ludwigk:
One article I read said they were less than 5% of the total peanut butter market.
So other than the collateral damage to the entire peanut industry, there won't be any price increases, probably a decrease because people are going to stop buying the stuff for a few months.

Comment from bohemian on 2009-02-14

2009-02-14T06:15:51Z

Since some of this was done by direct actions of the company owner can the injured parties go after the owner directly?
I saw last week that his corporate insurance was suing Peanut Corp to have the insurance policy voided due to his bad actions.
The injured people and surviving families do need to be first in line at any assets.

Comment from TechnoDestructo on 2009-02-14

2009-02-14T06:10:25Z

@Xabora:

Salmonella with less peanut butter.

Comment from rekoil on 2009-02-14

2009-02-14T06:07:18Z

...and straight to Chapter 7 also. Impressive. I can't imagine anyone giving these guys DIP financing after everything that happened.

Comment from SybilDisobedience on 2009-02-14

2009-02-14T05:44:11Z

@WiglyWorm: That's what I was thinking too.

Comment from CaptZ on 2009-02-14

2009-02-14T05:22:09Z

They are ceasing operations as a Peanut company and applying to become a bank to get TARP funds to pay all the lawsuits they will have with taxpayer money.

Comment from Xabora on 2009-02-14

2009-02-14T05:16:22Z

@TechnoDestructo:
Peanut Butter with extra Salmonella this time?

Comment from WiglyWorm must cease and decist on 2009-02-14

2009-02-14T05:08:01Z

@kathyl: "...and will liquidate its assets to avoid paying off lawsuits and settlements to all the innocent people sickened or killed due to their gross neglegence, callowness, and greed."

Comment from HogwartsAlum on 2009-02-13

2009-02-14T04:59:57Z

That didn't take nearly as long as I thought it would!

Comment from kathyl on 2009-02-13

2009-02-14T04:56:01Z

@Skunky: Dun dun dun dunnnn dun dun DUN da DUN!

Comment from kathyl on 2009-02-13

2009-02-14T04:55:23Z

"...and will liquidate its assets to pay off creditors."

Wait, lemme fix that for you:

"...and will liquidate its assets to pay its irresponsible CEO one last big fat bonus."

Comment from bananaboat on 2009-02-13

2009-02-14T04:46:33Z

Yes but I saw the money hungry lawyers with nowhere to get money...are now going after Kellogs. After all, Kellogs used the ingredients without knowing but they have deep pockets.

Comment from Patrick Henry on 2009-02-13

2009-02-14T04:44:46Z

Ask and ye shall receive, but its too good a news for just the victory from ONE game...here it is from all the games!

Play it and enjoy the article all over again!

Comment from Skunky on 2009-02-13

2009-02-14T04:39:17Z

Queue the Final Fantasy victory music, everybody dance!

Comment from sebadoh128 on 2009-02-13

2009-02-14T04:29:20Z

@Chris Walters:

Only if throw in the asbestos ceilings and lead lined office furniture, otherwise, no dice.

Comment from TheDustball on 2009-02-13

2009-02-14T04:28:28Z

I've never before felt the need to use this term but it seems appropriate in this situation:

Huzzah!

Comment from Chris Walters on 2009-02-13

2009-02-14T04:27:10Z

@pecan 3.14159265: Anybody wanna buy some moldy tiles, dead rats, pigeon feathers? Anybody?

Comment from TechnoDestructo on 2009-02-13

2009-02-14T04:26:57Z

@pecan 3.14159265:

Machinery, buildings.

Comment from HeartBurnKid, creepy morbid freak on 2009-02-13

2009-02-14T04:25:49Z

This whole fiasco has made me even more glad I get my peanut butter freshly made for $2.00 a pound.

Comment from pecan 3.14159265 on 2009-02-13

2009-02-14T04:25:46Z

Liquid salmonellaaaaaaa...I feel like maybe that's the only thing PCA has right now. How do you liquidate when you don't actually produce a product anymore? What do you liquidate? Stock?

Comment from TechnoDestructo on 2009-02-13

2009-02-14T04:25:26Z

In related news, Peanut Inc. is now in business, and expected to take a substantial share of the lucrative peanut butter products market.

Comment from ludwigk on 2009-02-13

2009-02-14T04:22:12Z

Awesome. Could not have happened to a more deserving company. Good riddance.

I wonder what this means for the spot price of peanut butter. Better stock up! I'll make a killing on the secondary market.

Comment from ugadawg on 2009-02-13

2009-02-14T04:21:24Z

It's about damned time!