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Microcap & Penny Stocks : HITSGALORE.COM (HITT)
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To: Janice Shell who wrote (4293)10/3/1999 11:53:00 AM
From: TideGlider   of 7056
 
Promissory Notes can come from less than secure places...Bad ones can have a serious impact on viability!

aeroweb.lucia.it. . . BUT ST.

PETERSBURG ROCKET PLANT IN TROUBLE. Like many defense
plants, St. Petersburg's Severnyi Zavod is on the brink of financial
collapse, NTV reported on 5 February. The plant produces Patriot-style
surface to air missiles, but has been reduced to making toboggans and
other consumer goods. The last purchase order from the Russian
government was for 62 rockets, in 1994. They managed to sell 120 S300
missiles to China last year, but had to accept payment in barter goods
(such as lighters, thermoses, and china dogs) which they gave out as
wages. Two local banks that accepted Severnyi promissory notes, Kredit
Petersburg and Metal Invest, have gone bankrupt. -- Peter Rutland


TG
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