The Link: LINK

The Story: The German memory chip maker Qimonda filed for bankruptcy protection in a local Munich court yesterday.  The company, which is majority owned by Infineon Technologies AG, sited the precipitous fall in computer memory prices and an inability to obtain favorable credit as reasons for its demise.

The Analysis: So, isn’t this just another major international company filing for bankruptcy?  Don’t we have a few of these every day lately?  Well, yes.  However, Qimonda owns and operates a significant manufacturing facility in Eastern Henrico County.  The facility, which has been in operation since 1997, employed approximately 2,200 Virginia’s.  Qimonda had previously announced that it planned to lay off 1,200 of the 2,200.  With this new announcement, there is no indication of what will happen to the remaining 1,000 employees.