I read in the news that after decommissioning its aircraft carriers, the US Navy sells them to a scrapping company in exchange for $0.01.
How does something that cost over $5 billion to build and contains over 50,000 tons of steel get reduced in value to a mere single cent?
In: 9559
It happens in the energy industry as well. Old, retired coal burning plants are sold to a contractor for nothing. They take on all the environmental liability and recycle/remediate the site…very expensive but must be worth it.
Latest Answers