Sunday, March 21, 2010

Acorn on Brink of Bankruptcy, Officials Say

Win McNamee/Getty Images
Bertha Lewis, Acorn's chief executive, blamed “relentless, well-funded right-wing attacks” reminiscent of the McCarthy era.

Acorn on Brink of Bankruptcy, Officials Say
March 19, 2010

BALTIMORE — The community organizing group Acorn, battered politically from the right and suffering from mismanagement along with a severe loss of government and other funds, is on the verge of filing for bankruptcy, officials of the group said Friday.

Acorn is holding a teleconference this weekend to discuss plans for a bankruptcy filing, two officials of the group said. They asked not to be identified because they were not authorized to speak to the news media.

Over the last six months, at least 15 of the group’s 30 state chapters have disbanded and have no plans of re-forming, Acorn officials said. The California and New York chapters, two of the largest, have severed their ties to the national group and have independently reconstituted themselves with new names.

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