EnCap parent CEO regrets involvement
The CEO of EnCap’s parent firm has told the Raleigh News & Observer that the company regrets ever getting involved in the Meadowlands project.
The CEO of Cherokee Investment Partners (of Raleigh), Thomas F. Darden, said the project has “been an extremely expensive education.”
From the News & Observer:
Darden said Tuesday that he wished Cherokee had taken a more active oversight role earlier in the process and that his investors are “as depressed as any investor in a tough situation.
“Clearly they’re not happy about it,” he said. “We’re working mightily to try to continue the project.”
Darden told the News & Observer he is confident funds will come through for EnCap to finish what was started. If that happens soon, the paper says cleanup would wrap up by 2011.
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