Pacific Ethanol jettisons CFO, says has cash through end of month; defaulting on loans

In California, Pacific Ethanol said it has enough cash to get through April without restructuring or a cash infusion, but said it would jettison its CFO in a cost-cutting move. Joseph Hanson left the company as of last Friday as the company radically downsized its finance and accounting operations in the wake of shutting three of its four ethanol plants. The company has already defaulted on $230 million in construction loans and $31.5 million in notes.

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