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The perception, cemented after Lehman Brothers' disastrous bankruptcy, that the public sector will not allow a major financial institution to fail, has lowered the cost of borrowing for banks. Losses in the commercial real estate sector, which have been flagged loudly by Fed Governor Daniel Tarullo and a host of regional central bank presidents, suggest the perils of the credit crunch are not yet over for banks. (Yahoo News -- Press Releases)
CIT woes could hit Alpha notes Nov 3, 2009
Alpha Financial Products has issued a warning that its managed income notes could be affected by the bankruptcy of US based CIT Group ... CIT filed for bankruptcy on Friday after it was unable to secure ongoing financing. (Sydney Morning Herald -- Business)
Enron's Skilling May Report to Federal Prison Today Nov 3, 2009
Skilling maintains his innocence and said he was made a scapegoat in Enron's collapse and bankruptcy. Skilling, who transformed Enron from a sleepy pipeline company into the world's largest energy trader before the company plunged into bankruptcy in 2001, has been under house arrest in his 9,215-square-foot Mediterranean mansion in Houston's River Oaks section. (Yahoo News -- Enron)
GAO: Taxpayers Won't Recoup $80B Car Loans Nov 3, 2009
The concluded that General Motors Co. and Chrysler Group LLC likely won't be valuable enough for the Treasury Department to break even on its investment in the two auto companies that went though bankruptcy earlier this year. The GAO also revealed that the Obama administration is closely scrutinizing the finances of GM and Chrysler and has set some requirements on production even though it has said it will maintain a hands-off approach on the automakers' daily operations. (CBS News)
County sues state for unpaid sewer bills (536) Nov 3, 2009
There is no telephone listing or apparent online presence for the former tenant, Control Environment Aquaculture Technology Inc., which she said previously declared bankruptcy. Ward responded no when asked if it is the state s intent to pay the sewer fees owed to the county for the property. (Lihue Garden Island, HA)
From Greg Gordon at McClatchy Nov 3, 2009
"John Coffee, a Columbia University law professor who served on an advisory committee to the New York Stock Exchange, said that investment banks have wide latitude to manage their assets, and so the legality of Goldman's maneuvers depends on what its executives knew at the time."It would look much more damaging," Coffee said, "if it appeared that the firm was dumping these investments because it saw them as toxic waste and virtually worthless. "Lloyd Blankfein, Goldman's chairman and chief... (Harper's Magazine)
Republicans made U.S. nearly bankrupt Nov 3, 2009
Thanks again to the trickle-down, deregulate, Republican mindset that has borrowed and spent the United States to near bankruptcy. Thank you to Cook for believing without finding out the truth and thinking badly of people who do research and find out the truth instead of taking the word of liars like Rush and Larson. (Klamath Falls Herald & News, OR)
Economy, overbuilding hurts CP retail center Nov 3, 2009
Just two years after being built, the retail center that has stood almost empty has filed for Chapter 11 bankruptcy protection ... Smoke on Ice wrote on Oct 29, 2009 10:55 AM:" Yet we have a mayor and council who continue to consider retail as Economic Development. A council who ignored our own Towne Center TIRZ to give incentives to 1890 Ranch directly across the street. A council who committed over $70M to the arena, also directly across the street. A council who further gave incentives to the... (Cedar Park Hill Country News Weekender, TX)
Enbridge Income Fund Announces Third Quarter Results, Evaluating Corporate Restructuring Nov 3, 2009
1 million bankruptcy settlement received by Alliance Canada ... The decrease is primarily attributable to the Calpine Energy Services Canada Partnership (CESCA) bankruptcy settlement received in the nine months ended September 30, 2008 in respect of CESCA's repudiated capacity commitment ... The lower distribution payout rate for the nine months ended September 30, 2008 reflected the CESCA bankruptcy settlement received in 2008. (CCNMatthews Press Releases)
Read the 'Cost of Freedom' recap Nov 3, 2009
Either way, we can't afford this bill it's going to drive us right into bankruptcy. Julia Piscitelli, Democratic strategist: We can't afford not to pass this legislation. (Fox News)
Retailers snap up vacant Fresno-area spaces Nov 3, 2009
The sales could be final in two weeks if a federal bankruptcy judge OKs them, and River Park developer Ed Kashian said he expects Macy's to open in time for the Christmas season. As expected, Forever 21 also bid on Gottschalks stores Thursday, taking 14 sites in three states. (Fresno Bee)
Goldman left foreign investors holding subprime bag Nov 3, 2009
The analyst's report, a copy of which was obtained by McClatchy, described Goldman as "a single underwriter solely interested in pushing its dirty inventory onto unsuspecting and obviously gullible investors. "In this case, it is a foregone conclusion that many relatively senior bondholders will suffer severe losses," said the analyst's report, which was made available on the condition of anonymity because the offering barred unauthorized disclosure. McClatchy also learned of a second private... (Anchorage Daily News)
Iceland flips last burger Nov 3, 2009
Ogmundsson announced on Monday the closure of the McDonald's branches as a result of the dramatic economic collapse last year, which pushed the country to the brink of bankruptcy. McDonald's requires all resources for its restaurants, including packaging, meat, vegetables and cheese, to be imported as the Icelandic market is too small to produce the required products. (iAfrica.com)
Strong Canadian Dollar Good for Business, Quebec Economic Official Says Nov 3, 2009
The Canadian dollar traded near parity with its U.S. counterpart for more than eight months last year, before the greenback surged as investors sought its safety after the bankruptcy of Lehman Brothers Inc. in September 2008. Quebec is home to about 7. (Bloomberg -- Canada)
Ford posts $1 billion profit Nov 3, 2009
Shares of Ford, the only Detroit automaker to dodge government aid and bankruptcy protection, rose 50 cents, or 7 ... Ford also has benefited from consumer goodwill after it declined government bailout money and didn't go into bankruptcy over the summer as GM and Chrysler did. (The News-Press -- Business)
Capitol comments: Two Georgia congressmen tackle health care Nov 3, 2009
I m afraid the current House and Senate bills only make things worse by further cementing us to this unwise payment system, adding costs and hastening federal bankruptcy. In his thoughtful health care address to Congress, Obama said I am not the first president to deal with this issue, but I am determined to be the last. (Atlanta Journal-Constitution -- Opinion)
Market Forecaster Nov 3, 2009
63 billion, according to a filing with a Texas bankruptcy court. The Pittsburg, Texas-based poultry company filed for bankruptcy protection in December, 2008 ... It files monthly financial reports to the bankruptcy court which are not strictly comparable to previous filings with the Securities and Exchange Commission. (Midwest Bulls Eye, NE)
Six Flags Announces Third Quarter and Nine Month Results and Reaffirms 2009 Adjusted Ebitda Forecast of $190 Million Nov 3, 2009
On June 13, 2009, Six Flags, Inc., Six Flags Operations Inc., Six Flags Theme Parks Inc. ("SFTP") and certain of SFTP's domestic subsidiaries filed a voluntary petition for relief under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (Case No. 09-12019) ... These risks and uncertainties include, among others, Six Flags' ability to develop, prosecute, confirm and consummate one or more Chapter 11 plans of reorganization; the... (Yahoo! Wire -- Entertainment News)
Ford posts surprising profit Nov 3, 2009
-- Ford, the only U.S. automaker to dodge direct government aid and bankruptcy court, surprised investors with net income of nearly $1 billion in the third quarter and forecast a "solidly profitable" 2011 ... Ford also has benefited from consumer goodwill after it declined government bailout money and didn't go into bankruptcy over the summer as GM and Chrysler did ... -- Ford, the only U.S. automaker to dodge direct government aid and bankruptcy court, surprised investors with net income of... (New York Post -- News)
Stock Analysts Proving Right on Earnings With Investors Refusing to Agree Nov 2, 2009 Asian Stocks Fall on Yen, U.S. Consumer Spending Report; Mitsubishi Drops Nov 2, 2009 Asia share drop ltd after Wall St hit Nov 2, 2009 Asian stocks drop on economic concerns Nov 2, 2009 Enron's Skilling May Report to Federal Prison Today Nov 2, 2009 A look at the top 10 US bankruptcies Nov 2, 2009 Commentary:Politics won in legislative efforts to deal with taxes Nov 2, 2009 Nikkei hits 3-week closing low Nov 2, 2009 Republicans made U.S. nearly bankrupt (150) Nov 2, 2009 Standard Parking Corporation Reports Solid Third Quarter 2009 Results and Free Cash Flow of $6.4 Million Nov 2, 2009 Terminator franchise to be auctioned Nov 2, 2009 Officials' financial errors cost taxpayers Nov 2, 2009 Depression link to processed food Nov 2, 2009 Asian Stock Markets Slide Amid US Recovery Doubts Nov 2, 2009 GEITHNER: Recovery will take 'awhile,' Treasury chief says Nov 2, 2009 Secret Atlanta Bond Deal Led IRS to Middleman Rubin Financing in the Dark Nov 2, 2009 Rand spikes on misprice Nov 2, 2009 No responsibility Nov 2, 2009 Geithner: Recovery 'going to take awhile' Nov 2, 2009 Stock futures signal rebound on Wall Street Nov 2, 2009 Stocks Drop Most in Month on Stronger Yen, Weaker Commodities; Canon Falls Nov 2, 2009 Detroit's School System Battling Budget Deficits Leads Muni Bond Measures Nov 2, 2009 CIT Files for Bankruptcy; U.S. Is Unlikely to Recoup $2.3 Billion Bailout Nov 2, 2009 Economy, overbuilding hurts CP retail center Nov 1, 2009 Meet TARP on steroids Nov 1, 2009 All together now Nov 1, 2009 Andersen Will Settle Suit Over WorldCom Nov 1, 2009 Devouring the future Nov 1, 2009 J.P. Morgan Settles WorldCom Suit for $2 Billion Nov 1, 2009 Golden Gate Fields to be auctioned in February Nov 1, 2009 California's folly - Prop. 13 Nov 1, 2009 Ford Auto Workers Reject Contract Changes Nov 1, 2009 Rise of Elkann could finally lead to demise of car maker Nov 1, 2009 Southwest Montana Snapshot Nov 1, 2009 Poor insurance companies Nov 1, 2009 Going for Broke (1033) Oct 31, 2009 SCI-Arcs Downtown Future Uncertain (822) Oct 31, 2009 Georgia Bank & Trust owner reports lower income Oct 31, 2009 Economy, overbuilding hurts CP retail center Oct 31, 2009 6 comments Oct 31, 2009 'Idol' host Ryan Seacrest gets restraining order Oct 31, 2009 Failed Wallace development site for sale — again (1037) Oct 31, 2009 SEC Probes of Madoff Were "A Nightmare" Oct 31, 2009 Federal prison for thief who stole nanny's ID Oct 31, 2009 Stocks plunge as worries mount about recovery; Dow drops 250 Oct 31, 2009 Owners settle in Oct 31, 2009 Enron's Skilling May Report to Federal Prison Today Oct 31, 2009 Business is booming in Sterling Heights (99) Oct 31, 2009 Hedge fund exec testifies in Petters case Oct 31, 2009 'Anybody Have a Lighter?' Oct 31, 2009 Southwest Montana Snapshot Oct 31, 2009 US stocks dive as fears overtake growth hopes Oct 31, 2009 Beating the tax man, but hardly surviving Oct 31, 2009 Canada Court Says Government Sales Taxes Are Ordinary Claims in Bankruptcy Oct 31, 2009 Market Forecaster Oct 31, 2009 Sinking feeling Oct 31, 2009 COPT pays $38M for building near BWI Oct 31, 2009 Apollo Weakness for Phoenix Revenues Spurs Short Sellers With SEC's Probe Oct 31, 2009 Flight School's Student Loan Suit Settled Oct 31, 2009 Teacher fight in Clayton sounds like Jerry Springer script Oct 31, 2009 A Fearful Friday for Stocks Oct 31, 2009 US stocks swoon, dow down 250 points Oct 31, 2009 Wall St falls Oct 31, 2009 Bank bailouts Oct 31, 2009 Now what for the economy? More government stimulus? Oct 31, 2009
The S&P 500 posted the biggest drop since July on Oct. 30 as declining consumer confidence and spending and the threat of a bankruptcy raised concern over the durability of the recovery. New York-based CIT filed for Chapter 11 yesterday with financing from investor after the credit crunch dried up its funding. (Bloomberg -- US)
Atlantic City teeters on edge Nov 2, 2009
Over the summer, the Tropicana was sold in bankruptcy court; another three of the town's 11 casinos are under bankruptcy protection. The lender for yet another, Resorts International, is in talks to take it over and could by year-end. (San Francisco Chronicle)
New-York based commercial lender filed for bankruptcy on Nov. 1 ... Lopro Corp., an Osaka-based corporate lender, was suspended from trading after the company filed for bankruptcy today amid swelling interest repayments. (Bloomberg -- Asia)
Worries about the US financial sector resurfaced after CIT Group Inc, the lender to small and 00004000 mid-sized US companies, filed for bankruptcy and an accounting expert said Citigroup may need further write-downs. But the fallout on Asian equity markets was limited and higher-yielding currencies quickly recovered from early losses, with some market players blaming the volatile moves on profit-taking and portfolio reshuffling before year-end. (India Times)
Worries about the US financial sector resurfaced after , the lender to small and mid-sized US companies, filed for bankruptcy and an accounting expert said may need further write-downs. Reuters Limited. (FT.com -- Markets)
Skilling maintains his innocence and said he was made a scapegoat in Enron's collapse and bankruptcy. Skilling, who transformed Enron from a sleepy pipeline company into the world's largest energy trader before the company plunged into bankruptcy in 2001, has been under house arrest in his 9,215-square-foot Mediterranean mansion in Houston's River Oaks section. (Yahoo News -- Enron)
Retail faces uncertainty as CIT enters bankruptcy. The bankruptcy of a key lender that helps retailers stock their shelves is adding to the industry's worries ahead of the critical holiday shopping season ... CIT Group Inc. filed for Chapter 11 bankruptcy protection Sunday in New York after months of struggling to avoid collapse. (Fresno Bee -- Business)
Words that did not poll well like recession, job loss, unemployment, business failure and bankruptcy are not found in the statements. Not to be outdone, Gov. Kulongoski delayed signing the tax measures to limit the time available to gather petition signatures. (Klamath Falls Herald & News, OR)
Tokyo analysts also said that while investors had been spooked by the bankruptcy filing of US lender CIT Group and concerns about Citigroup's balance sheet, these were no longer a major market factor ... CIT's bankruptcy, one of the largest in US corporate history, had been widely expected for months, but it could further constrict credit and weigh on the fragile US economy. (India Times)
Thanks again to the trickle-down, deregulate, Republican mindset that has borrowed and spent the United States to near bankruptcy. Thank you to Cook for believing without finding out the truth and thinking badly of people who do research and find out the truth instead of taking the word of liars like Rush and Larson. (Klamath Falls Herald & News, OR)
The following factors are among those that may cause actual results to differ materially from forward-looking statements: the recession and recent turmoil in the credit markets and financial services industry; changes in general economic and business conditions or demographic trends; the financial difficulties or bankruptcy of our major clients, including the impact on our ability to collect receivables; availability, terms and deployment of capital; potential impact on the market price of our... (Primezone Releases)
The sale is being conducted by FTI Capital Advisors, recently appointed by Halcyon when it sought bankruptcy protection. Halcyon filed for Chapter 11 after a dispute with Pacificor, a Santa Barbara-based hedge fund that lent Halcyon funds to buy the Terminator rights. (CNN -- International)
"We need a worldview change about transparency, and that includes municipal finance," said Warren, a professor of bankruptcy law at Harvard Law School. The public paid extra costs for borrowing with tax-exempt bonds because local governments resist providing investors the same level of disclosure as corporate borrowers, which file quarterly reports. (Honolulu Advertiser)
Page last updated at 00:11 GMT, Monday, 2 November 2009. Please turn on JavaScript. (BBC News -- UK)
Asian stocks retreat after weak US consumer mood, CIT bankruptcy; European markets mixed ... Exacerbating investor worries was U.S. lender CIT Group's bankruptcy filing Sunday, which dragged financials sharply lower across the region ... More bad news followed Sunday with CIT filing for Chapter 11 protection after struggling for months to avert bankruptcy. (ABC News -- Business)
Geithner: Recovery 'going to take awhile' - USATODAY.com. Geithner: Recovery 'going to take awhile. (USA Today -- Money)
CDR also advised Jefferson County, Alabama, on interest- rate swaps that pushed the county close to bankruptcy and were at the center of Birmingham Mayor bribery conviction Oct. 28 ... New York-based Lehman declared bankruptcy in September 2008 and is being liquidated. (Bloomberg)
"Following the worst day for Wall Street in months on Friday, US small business lender CIT filed for bankruptcy over the weekend in what is one of the largest corporate failures in history. US dollar/rand spiked immediately to 8.25 as trade opened in Asia - but this was a massive overreaction and we should come into regular trade at around 7.90 this morning" they said ... Dow Jones Newswires reported that the dollar recouped lost ground against the yen in Asia on Monday as US banks bought the... (iAfrica.com)
CIT Group files for US bankruptcy. Monster meatball sets new record. (BBC News)
Get information on education programs that could help you increase your earning power. Geithner: Recovery 'going to take awhile. (USA Today -- Money)
The banking sector will be in the spotlight after CIT Group Inc (CIT.N), a U.S. lender to hundreds of thousands of small and medium-sized businesses, filed for bankruptcy on Sunday, as the global financial crisis left it unable to fund itself and the recession hit its loans. Goldman Sachs Group Inc (GS.N) is in talks to buy millions of dollars of tax credits from Fannie Mae (FNM.N), but the U.S. Treasury could block the deal, The Wall Street Journal reported on Sunday. (Yahoo News -- Press Releases)
Stocks also fell after CIT Group Inc. filed the biggest bankruptcy claim in the U.S. in more than a year ... New-York based CIT filed for bankruptcy on Nov. 1, with $71 billion in assets and $64. (Bloomberg -- Japan)
Nov. 2 (Bloomberg) -- school system, which considered bankruptcy or selling assets to cut costs after seven years of budget deficits, leads U.S. states and municipalities seeking voter approval tomorrow to borrow $7 ... Bankruptcy an Option ... Robert C. Bobb, appointed by Michigan Governor as emergency financial manager for the district, has recommended bankruptcy as one option for addressing the deficit, district spokesman Steven Wasko said in July. (Bloomberg -- US)
CIT Group Files Bankruptcy, Seeks to Cut $10 Billion in Debt - Bloomberg ... CIT Group Files Bankruptcy, Seeks to Cut $10 Billion in Debt ... Nov. 2 (Bloomberg) -- the 101-year-old commercial lender that saw its funding dry up in the credit crunch, filed for bankruptcy in an effort to cut $10 billion in debt following a failed debt exchange and U.S. taxpayer bailout. (Bloomberg -- US)
Just two years after being built, the retail center that has stood almost empty has filed for Chapter 11 bankruptcy protection ... Smoke on Ice wrote on Oct 29, 2009 10:55 AM:" Yet we have a mayor and council who continue to consider retail as Economic Development. A council who ignored our own Towne Center TIRZ to give incentives to 1890 Ranch directly across the street. A council who committed over $70M to the arena, also directly across the street. A council who further gave incentives to the... (Cedar Park Hill Country News Weekender, TX)
The Administration would wait until a giant bank was in danger of failing and then put it into a process akin to bankruptcy. The bank's assets would be sold off to pay its creditors, and its shareholders would likely walk off with nothing. (Salon)
" And I completely agree with Clinton, but that doesn't mean Obama's opponents aren't coating their opposition with the sweet special sauce of racism. Obama knows that, both Clintons know that, and smart Democrats need to know that, ASAP. I spent 2008 telling Obama-supporting Democrats that they would need to learn quickly from the lessons the Clintons learned painfully. It was great to find out that Obama agreed with me after his nomination, when he courted the Clintons, picked Hillary as... (Salon)
The fraud pushed the telecommunications company into the largest bankruptcy filing in U.S. history in 2002 and cost investors billions. WorldCom has emerged from bankruptcy protection and now operates as Ashburn, Va. (Yahoo News -- WorldCom/MCI)
When you owe more than you take in, it s called bankruptcy ... To add another expensive entitlement to a nation facing bankruptcy in a few years is like landscaping the front yard while the house is burning down. (Braintree Forum, MA)
J.P. Morgan helped underwrite major WorldCom bond offerings in the two years before the telecommunications firm filed the largest bankruptcy case in U.S. history in 2002. Plaintiffs in the class-action case, lead by New York State Comptroller Alan G. Hevesi, claim J.P. Morgan and other WorldCom advisers and directors should have discovered the company's $11 billion accounting fraud and disclosed it to investors. (Yahoo News -- WorldCom/MCI)
which has been in Chapter 11 proceedings since March, got bankruptcy court approval to put Golden Gate Fields up for sale on Feb. 25, 2010 ... Magna got bankruptcy approval this week to sell Texas Lone Star Park for $47. (East Bay Business Times, CA)
These two requirements have, in time, helped to lead the state into financial bankruptcy and created a dysfunctional state government. The social consequences that I predicted then, and are all too apparent now, are a race to the bottom in: education (from kindergarten through our world-class university system); public health; social services; public safety; the arts, library and culture; and infrastructure development; as well as harming the ability of local governments to provide basic... (San Francisco Chronicle -- Opinion)
Ford sought the deal to bring its labor costs in line with Detroit rivals Chrysler Group LLC and General Motors Co., both of which won concessions from the union as they headed into bankruptcy protection earlier this year ... But workers weren't convinced they should make more concessions, since Ford avoided bankruptcy and is considered healthier than its rivals. (Time.com)
"He's a dynamic and innovative leader," says Ron Bloom, the head of the US government's auto task force, which led the restructuring of Chrysler in bankruptcy. "He's just what Chrysler needs.". (Business Report, South Africa)
I know that if Obama had let GM and Chrysler fall into bankruptcy, the whole auto industry in the U.S. would have failed (including Toyota, Nissan, Honda, etc. as the part supplier companies would have also failed. (Montana Standard, MT)
Hows that for a formula for bankruptcy. Poor insurance companies indeed. (Fresno Bee -- Opinion)
(l to r) The Brockman Building, the Roosevelt and the Concerto are three of the Downtown housing complexes that have filed for Chapter 11 bankruptcy protection ... Now, some of the developers of those buildings are hitting hard times, and at least eight Downtown residential projects are in bankruptcy ... In additional instances the economic downturn has caused developers to otherwise lose control of their properties, and the Downtown Marriott hotel is also in bankruptcy. (Los Angeles Downtown News, CA)
But Meruelo Madduxs current financial situation may jeopardize its ability to keep the land: The company filed for Chapter 11 bankruptcy protection in March and, in June, an outside investor bought the debt attached to 10 Meruelo Maddux properties, including the SCI-Arc plot and three adjacent sites ... Legendary Investors must get approval from the judge handling the Meruelo Maddux bankruptcy case to proceed with any foreclosures. (Los Angeles Downtown News, CA)
NEW YORK --- Commercial lender CIT Group Inc. said Friday that billionaire investor and bondholder Carl Icahn agreed to support the company's restructuring plan amid reports CIT might soon file for bankruptcy protection. Mr. Icahn also agreed to provide CIT with a $1 billion line of credit. (The Augusta Chronicle)
Just two years after being built, the retail center that has stood almost empty has filed for Chapter 11 bankruptcy protection ... Smoke on Ice wrote on Oct 29, 2009 10:55 AM:" Yet we have a mayor and council who continue to consider retail as Economic Development. A council who ignored our own Towne Center TIRZ to give incentives to 1890 Ranch directly across the street. A council who committed over $70M to the arena, also directly across the street. A council who further gave incentives to the... (Cedar Park Hill Country News Weekender, TX)
But the moment when our President is wrecking our national credit and driving us into bankruptcy, appointing a self-styled (recently ex-)Communist and a proponent of queering elementary education to positions overseeing jobs and school safety, and attempting to socialize American medicine is hardly the time to be wringing our hands about the paranoid style in American politics. Let s save that discussion for some time when they re not really out to get us. (Human Events Online)
Creditors have forced local media mogul Harry J. Pappas into a personal bankruptcy filing -- an unusual move that threatens his effort to save Visalia-based Pappas Telecasting Companies from financial disaster. Filed Monday in the U.S. Bankruptcy Court for the District of Delaware under Chapter 7 of the Bankruptcy Code, the action could lead a judge to order the sale of personal property to pay off debt ... It follows on the heels of a bankruptcy petition filed Friday by Pappas Telecasting,... (Fresno Bee -- State)
Since the housing market tanked, however, the owners have filed for bankruptcy and the property will be put up for auction ... The two developers who owned the property each filed for bankruptcy in 2008, with one of them reportedly owing various banks more than 972 million ... Instead, both John D. Reynen and Christo Bardis filed for personal bankruptcy. (Lodi News Sentinel, CA)
Speaking of consumer spending (which the Post analyzes in a separate ), CIT, a lender who greases the skids of commerce for thousands of small businesses, could file for bankruptcy protection as soon as Sunday, the paper. The Wall Street Journal that $2. (Slate)
She took every piece of my clothing, all of my household items, all of my personal property and all of my very valuable jewelry. I want people to know it could happen to them and to beware of even people you know. (Seacoast New Hampshire)
Billionaire investor and bondholder agreed to support the company's restructuring plan and provide it with a , but investors are still worried that the company could file for bankruptcy protection. The stock tumbled 24. (USA Today -- Money)
Tribune, which retained a 5 percent stake in the team, filed for bankruptcy last December. Like other bidders, Ricketts, the team's chairman, had been eager to take control of the National League team. (ESPN -- Baseball)
Skilling maintains his innocence and said he was made a scapegoat in Enron's collapse and bankruptcy. Skilling, who transformed Enron from a sleepy pipeline company into the world's largest energy trader before the company plunged into bankruptcy in 2001, has been under house arrest in his 9,215-square-foot Mediterranean mansion in Houston's River Oaks section. (Yahoo News -- Enron)
Following the bankruptcy filing of Chrysler LLC in April, a new company called New CarCo was created and thus acquired the Sterling Stamping Plant on Van Dyke. A request was made to transfer the tax abatements on that property from the old Chrysler to the new Chrysler - and the council unanimously approved the decision. (Shelby Twp Advisor & Source, MI)
Ritchie Capital and affiliated companies were owed $250 million by Petters Group, according to bankruptcy court documents. During negotiations, Colburn said he understood that Petters always wanted transactions done in a tight time frame. (Twin Cities Business Journal, MN)
Beyond that, the bill charges the Department of Health and Human Services with creating an enormous government-run health plan that will drive many private insurers into bankruptcy. And it imposes a 2. (Fox News)
I know that if Obama had let GM and Chrysler fall into bankruptcy, the whole auto industry in the U.S. would have failed (including Toyota, Nissan, Honda, etc. as the part supplier companies would have also failed. (Montana Standard, MT)
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Julie Knight An expensive court battle with the state Department of Revenue over a questionable tax levy brought Tammy Webster and her company to the brink of bankruptcy ... The odyssey that began for Tammy Webster and her husband and partner Jim Webster with that notice would turn their business from one of the fastest growing in the Triad to one on the edge of bankruptcy, put their home at risk of foreclosure and their employees out of work. (Triad Business Journal, NC)
Canada Court Says Sales Taxes Are Ordinary Claims in Bankruptcy - Bloomberg ... Canada Court Says Sales Taxes Are Ordinary Claims in Bankruptcy ... Oct. 30 (Bloomberg) -- Canadas federal and provincial governments cant skip ahead of other creditors in a bankruptcy to retrieve sales taxes the company had collected, Canadas highest court today. (Bloomberg -- Canada)
63 billion, according to a filing with a Texas bankruptcy court. The Pittsburg, Texas-based poultry company filed for bankruptcy protection in December, 2008 ... It files monthly financial reports to the bankruptcy court which are not strictly comparable to previous filings with the Securities and Exchange Commission. (Midwest Bulls Eye, NE)
CIT Group, facing a bankruptcy filing this weekend, tumbled 3 ... CIT Group, facing a bankruptcy filing this weekend, tumbled 3. (New York Post -- News)
for defense contractor when mounting debts forced it into bankruptcy in July. reported Aug. 28, the offering was expected to generate a significant amount of interest because of the building s location near Baltimore/Washington International Thurgood Marshall Airport and the credit standing of its Fortune 500 tenant. (Baltimore Business Journal, MD)
He is unemployed, owes $45,000 in student loans and may declare bankruptcy, Saffery said. Jones declined to comment on individual students, citing privacy considerations. (Bloomberg)
Nevada-based Silver State Helicopter Flight declared bankruptcy in February 2008 and closed its 34 flight schools nationwide -- including one at Craig Airport -- one week after the National Transportation Safety Board issued a report on a fatal March 2007 of one of the company's helicopters on Ponte Vedra Beach ... According to published reports, the Florida Attorney General's Office received more than 300 complaints after the school filed for bankruptcy. (News4Jax.com, FL)
4:53 pm October 30, 2009, by Maureen Downey. A messy love triangle is one thing, but a brawl in a school with expletives flying in front of students crosses a line. (Atlanta Journal-Constitution -- Metro)
Meanwhile, () plunged 24% after Carl Icahn agreed to support its prepackaged bankruptcy plan. Another appropriate touch as the spookiest day of the year drew near: The Street's traditional fear gauge, the VIX volatility index, spiked above 30 for the first time since July. (BusinessWeek)
Bank stocks were hardest hit as investors worried about the fate of commercial lender CIT Group Inc. Billionaire investor and bondholder Carl Icahn agreed to support the company's restructuring plan and provide it with a $1 billion line of credit, but investors are still worried that the company could file for bankruptcy protection. The stock tumbled 24 percent. (The Star Online, Malaysia)
However, reports said CIT may soon file for bankruptcy protection despite the bail. Traders work on the trading floor of New York Stock Exchange in New York, the U.S., Oct. 30, 2009. (Xinhuanet, China)
The Administration would wait until a giant bank was in danger of failing and then put it into a process akin to bankruptcy. The bank's assets would be sold off to pay its creditors, and its shareholders would likely walk off with nothing. (Salon)
THE TRUTH IS THAT WE HAVE LEGISLATED and REGULATED OURSELVES INTO BANKRUPTCY. We ve got to reverse these destructive actions. We need to SERIOUSLY foster, encourage and support the development and growth of small business over everything else. (Atlanta Journal-Constitution -- Business)
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