Broadband company’s demise puts taxpayers on hook for $74 million loan

SLIDE SHOW(7): The FCC’s powers
By Cecilia Kang – As the government prepares Thursday (10/27/11) to commit billions of dollars to bring high-speed Internet to rural areas, the biggest-­ever such project has collapsed.

The company Open Range, backed by a commitment of $267 million in loans from the Agriculture Department, filed for bankruptcy this month.

The furor was sparked by the high-profile failure of solar-panel manufacturer Solyndra, which filed for bankruptcy after getting more than $535 million in federal loan guarantees. more>


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