A High Priced Can of Worms.
Today, on Reuters.com there is another telling article about an LLC, this one a Chesapeake affair.
Seems when the folks in Michigan wanted to collect their signing bonuses they were promised, they couldn't find out WHO to collect from. WHY?
In fact, the company issuing the rejections wasn't much of a business at all. It was a shell company - a paper-only firm with no real operations - called Northern Michigan Exploration LLC.
Northern has voided hundreds of land deals, and was indeed a facade - a shell company created so that one of America's largest energy companies could conceal its role in the leasing spree, a Reuters investigation has found. Oklahoma-based Chesapeake Energy Corp. (CHK.N), the nation's second-largest gas driller, was behind the entire operation.
Chesapeake had created one shell company that set up another, Northern Michigan Exploration.
So, WHO will step up to the plate and protect the taxpayers from the newly formed Trinity Vision Partners LLC that just purchased the Fort Worth Cats? Wouldn't you love to know WHO all is involved in that shell game?