Posted On: January 11, 2010

Local Business Bouncing Back

Sacramento Bankruptcy Attorney states that there is news on local business...

News sources report that share of Sacramento based, Pacific Ethanol Inc. soared more than 80 percent this week after a positive report. Shares of Pacific Ethanol increased to $1.05 to $2.47 per share by midday and $2.65 the next morning. News sources report that almost 33 million shares traded as of the morning of January 11, 2010; this is about twenty times more than the average daily volume during the past month. The company’s ethanol producing divisions filed for bankruptcy protection last May after unfavorable market conditions. The company reports that they have now resumed ethanol production at it’s facility in Burley, Idaho after a 10 month shut down. Last month the company obtained the necessary court and lender approval to restarting the Burley plant, also known as the Magic Valley facility. The recent turn of events provides encouragement to other struggling businesses.

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