Hard to believe Earth Biofuels is still hiring -- thought the Knox Street-based company was all but a distant memory at this late date. Alas, today comes news that the makers of BioWillie® done gone and appointed Brazilian Miguel Dabdoub as its Vice President of Biodiesel Engineering.
Which is great for Dabdoub, except that in its most recent filings with the Securities and Exchange Commission, Earth Biofuels once more acknowledges that it's still losing dough and that "as of September 30, 2007, has limited financial resources, [and] these factors raise substantial doubt about our ability to continue as a going concern." The company did settle last month with the creditors who tried earlier this year to liquidate Earth Biofuels, so they could recoup some of their investment, but its stock is nearly worthless -- this morning, it's going for a whole seven cents per share, or $1.77 less than it was selling a year ago today, before it began its plummet. Which isn't stopping chairman of the board and CEO Dennis McLaughlin from snapping up stock in his company, putting him at somewhere near 4 million shares ... which is worth, like, $280,000. For now. --Robert Wilonsky
Keep the Dallas Observer Free... Since we started the Dallas Observer, it has been defined as the free, independent voice of Dallas, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Dallas with no paywalls.