Wednesday, April 14, 2010

SEC Reports assignment

Century Aluminum near Ravenswood, W.Va. had to close about a year ago for breach of contract. It used to be one of Jackson County’s largest employers, but now only has less than a dozen employees. When it was closing, it had operating losses of 8 million per month. Also, around the time of closing, a Tennessee barge company sued the plant for 4.6 million. The barge company stated that it was promised 400,000 tons of material to be shipped to it by Century Aluminum, but the number that was shipped was far less than that. The link for that story is http://www.wtrf.com/story.cfm?func=viewstory&storyid=74882.
The link to documents on the U.S. Securities and Exchange Commission Web site is http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&filenum=005-47307&owner=include&count=40.

I would develop these ideas into a news story by researching what exactly happened with the barge and century aluminum suit. I would see how much loss that the aluminum company suffered by looking at the SEC reports and then find out if this was enough reason to give the barge a smaller shipment than promised.

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