This left the company a shell of its former self, possibly even without the staff to deal with the problems it faced.

Faced with heavy losses, the company was having difficult with its financing. The state attorney general had stepped into the situation to ensure that Tufts-NEMC could meet its bond covenants. It would be reasonable to expect that securing future financing would be either impossible or difficult. The company was in the process of re-creating the administrative departments that it had lost as a result of the merger. Some cost-saving improvements were on the table that would hopefully bridge much of the losses, but at this point the company is still slated to lose money in 2003 even if all projections materialize at their most positive. Staff reductions are also underway, which is a risky proposition. It brings the company out of its financial difficulties, but reduces operating capabilities....
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