Summary
A law firm has demanded that Pennsylvania environmental regulators force a natural-gas driller to continue delivering replacement water to residents of a town whose drinking water wells were tainted with methane and possibly hazardous chemicals. Cabot Oil & Gas Corp. has been delivering water to homes in the northeastern Pennsylvania village of Dimock since January 2009. The Houston-based energy company asserts Dimock's water is safe to drink and won regulatory permission last month to stop the water deliveries by the end of November. Attorneys for 11 Dimock families who are suing Cabot in federal court said that test results show their well water is still contaminated. The law firm sent a letter to the state Department of Environmental Protection on Thursday, accusing regulators of colluding with the gas company and demanding they order Cabot to continue paying for bulk and bottled water. Regulators previously found that Cabot drilled faulty gas wells that allowed methane to escape into Dimock's aquifer. The company denied responsibility, but has been banned from drilling in a 9-square- mile area of Dimock since April 2010.
Former New Jersey Gov. Jon Corzine's resignation Friday from the securities firm he led capped a week of high drama and swift failure. MF Global collapsed into bankruptcy Monday, and Corzine has since hired a criminal defense attorney amid an FBI investigation into the disappearance of hundreds of millions of dollars in client money. MF Global's implosion, which came after Corzine made a big, risky bet on European debt, revived memories of the 2008 banking crisis and the ruin of the much bigger Lehman. As Corzine, 64, stepped down as chairman and CEO, he said he felt "great sadness about what has transpired at MF Global." Corzine, who ran the investment firm Goldman Sachs years before joining MF Global, said his resignation was voluntary and called it "a difficult decision." Regulators said more than $600 million in client money is still missing. They said MF Global apparently moved the money out of client accounts within days as the company's cash dried up. The FBI is examining whether the firm's actions amounted to a crime, two people familiar with the situation told The Associated Press this week. They spoke on condition of anonymity because they were not authorized to discuss the matter publicly. The New York Post reported that U.S. Attorney Preet Bharara in New York City is also investigating.See the full content of this document
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Ticker Nov. 5
Once the self-proclaimed "Ice Cream of the Future," Dippin' Dots is seeking federal bankruptcy protection, a m...
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