Bankrupt

Tuesday's Rush Morning Update:
Dateline: 2 June 2009

"When big companies with familiar brand names declare bankruptcy, everybody notices. But sometimes when smaller operations fold, the reasons for failure ought to be scrutinized. Such is the case with a company I'm sure you've never heard of: Hawaii Superferry.

Their name isn't as recognizable as Circuit City, Chrysler or GM, but Hawaii Superferry had a simple, clear business objective: They'd be the first company to ferry passengers and their cars between the Hawaiian islands that make up our 50th state. They were on track to do just that -- with two ferryboats -- until environmentalist wackos got a hold of their plans.

Doing what they do best, the wackos tied up the company in legal proceeding after legal proceeding, claiming that the ferry service would harm the environment. An environmental impact study was ordered, but the state legislature passed a law allowing the company to operate while the study was being completed. That prompted another lawsuit, and in March, Hawaii’s Supreme Court ruled the law unconstitutional. This week, the Hawaii Superferry -- fresh out of options -- filed Chapter 11 bankruptcy.

Manufacturing, energy, transportation -- almost every sector of our economy that you can think of -- has been impacted by unelected, unaccountable environmentalist wackos. Yet for all of the environmental impact studies that have been generated, there has never been one that quantifies what environmental extremism has cost the America economy. But the largest cost... is that they have bankrupted our freedom."

Rush's Reference:
AP: Hawaii Superferry files for bankruptcy