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JUNE 21, 2001

A Cherokee Nation official would rather let a tribal business go bankrupt before lending the company $2 million.

Harold DeMoss, co- chair of the tribal council's Executive and Finance Committee, says the loan won't help Cherokee Nation Industries. He says the company needs to get new management and undergo bankruptcy reorganization.

Principal Chief Chad Smith, however, says bankruptcy is not a good option. He thinks the $2 million loan can help CNI, an electrical services firm that employs 157 people.

Get the Story:
Cherokees balk at loan to save tribal company (The Daily Oklahoman 6/21)

Relevant Links:
The Cherokee Nation - http://www.cherokee.org

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Tribal business in trouble (6/7)