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Chemical slump sends LyondellBasell into Chapter 11

danarhea

danarhea

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Chemical giant Lyondell has just gone bankrupt. The company has a huge presence in the Houston area, but how the bankruptcy will affect the economy is still unknown, although Houston is diversified enough that any negative impact will be minimal. Still, this comes as somewhat of a surprise to me. I am wondering if the present round of deflation helped contribute to this.

Article is here.
 
danarhea said:
Chemical giant Lyondell has just gone bankrupt. The company has a huge presence in the Houston area, but how the bankruptcy will affect the economy is still unknown, although Houston is diversified enough that any negative impact will be minimal. Still, this comes as somewhat of a surprise to me. I am wondering if the present round of deflation helped contribute to this.

Article is here.
Click to expand...
Gee, I heard Texas was pretty much unharmed from this economic crises. Thank you Rick Perry. :doh
 
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