What price is capital raising at?, page-11

IBM Endicott cleanup costs mount. One estimate pegs total cost at more than $10MJeff Platsky, Binghamton Press & Sun-Bulletin Published 8:37 a.m. ET March 3, 2019The cost of the latest phase of the toxic plume cleanup is nearly $8 million.The full cost of removing the hazardous chemicals, remediation effort over 20 years is unknownCommunity monitors are generally pleased with the overall results of the cleanupIBM Corp. has sunk untold millions of dollars into cleaning Endicott's toxic plume, and its liability still has no end in sight.Costs for operating venting equipment — to prevent intrusion of potentially hazardous vapors from underground chemicals into the home or business — in nearly 500 buildings in the village will continue. Other efforts to ensure groundwater is protected from a 40-year-old toxic chemical spill will also proceed, as well as the obligation for further cleanup for the concentration of hazardous materials that remain pooled under the buildings at the former IBM complex.The company is now expected to finance yet another phase of the cleanup effort. The cost is pegged at nearly $8 million, according to documents presented by the state Department of Environmental Conservation. But the full extent of the expense for mitigation since the cleanup first began in the mid-1980s is subject to speculation. Frank Roma, spokesman for the Endicott stakeholders group that has been monitoring remediation efforts for nearly 20 years, says he has a hunch at the total expense."I would say, at this point, maybe $10 million to $20 million," Roma said.