June 21, 2008 - Nassau West President Kelly K. Bartram has just concluded a press conference that was scheduled to explain the course the nation is presently following and where it's headed.

"Over the past few years Nassau West has been in a downward spiral that seems to have gotten worse and worse," Bartram said. "As you're all aware, rising energy costs are really putting a crimp in things. Over the past three years, we have changed our government fleet to accomodate rising fuel prices, but we've not been able to keep up."

Bartram explained how the decision was made several months ago to put the Capitol on the market for sale. Since that time, the Capitol has been downgraded to the Nassau West Benson Embassy after the departure of the President's parents, who relocated to Henrietta, TX, and opened a new Nassau West Embassy there.

The official Capitol of Nassau West is Vice President Michael O'Brien's residence. It was selcted because they are not likely to be relocating any time soon, and Bartram will be. The Benson facility was further downgraded in May when the remainder of the President's family moved to Seattle, WA. The facility is now known as the Nassau West Benson Outpost, and houses and serves only two, the President and Ivan "the Terrible" Bartram.

Bartram went on to say, "It has become increasingly obvious that things cannot continue the way they are, and drastic changes will be required to avoid catastrophic consequences. The Republic is already under bankruptcy protection in Nassau West, and soon, the Federal Republic of Nassau West will be filing for bankruptcy protection in the United States Bankruptcy Court, District of Arizona."

"We have tried every known way to avoid doing this, but unfortunately, there is no other way forward at this time. If this is not done, the Benson Outpost will be lost to foreclosure. That is a mathematical certainty. So, as unsavory as it is, we will proceed with a bankruptcy filing to protect our interests for the future," Bartram stated.

"Obviously, with this being an election year," he continued, "the timing for this announcement could not be worse for me. However, the nation comes first, my election comes second. Please know that this decision isn't being made lightly. Last weekend, I met with my new Secretary of the Treasury, Jack Gearhart, and we discussed various scenarios."

President Bartram, in conclusion, said, "All of the plans ended up with a bankruptcy filing to protect the future. We will move forward, and by this time next year, with or without me as President, this nation will be far better off. Thank you."