Detroit Finances in Ruins — Emergency Manager Kevyn Orr
Any hope that Detroit can recover from decades of decay and poor management evaporated as its new emergency manager, Kevyn Orr, issued a report on his first 45 days on the ...Read Full Story »
Posts related to ‘Bankruptcy’
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Oreck Files for Chapter 11 Bankruptcy
Privately held Oreck Corp., maker of upright vacuum cleaners and other cleaning products, has filed for protection under Chapter 11 of the bankruptcy code. The company may reach an agreement ...Read Full Story »
Roto-Rooter Owner Destroyed as DOJ Goes After Hospice Fraud
Chemed Corp. (NYSE: CHE) is a very strange company. Imagine owning the Roto Rooter drain cleaning and plumbing company AND owning a for-profit hospice provider. Now a Department of Justice ...Read Full Story »
AMR Profit in Bankruptcy and U.S. Airways Merger: Higher Plane Ticket Prices for You
AMR Corporation (AAMRQ) has managed to do something which will sound almost impossible, or at least illogical. The parent company of American Airlines is still in bankruptcy and is still ...Read Full Story »
No $20 Million Severance Deal for AMR CEO — Yet
The CEO of AMR Corp., parent company of bankrupt American Airlines, won’t be getting a $20 million severance package from the company. A bankruptcy court judge in New York rejected ...Read Full Story »
Fisker Became the Electric Car for Idiots
If you have been following the trends in hybrid cars and all-electric cars, you probably think of Tesla Motors Inc. (NASDAQ: TSLA) as the winner in the high-performance electric car ...Read Full Story »
Detroit, Stockton and Bankruptcy of America’s Cities
Cities may start to use bankruptcy as a tool to skirt obligations the way that airlines have for decades and car companies have done more recently. As AMR, the parent ...Read Full Story »
China Picks a Solar Company to Rescue
With Suntech Power Holdings Co. Ltd. (NYSE: STP) now in Chinese bankruptcy court, the shakeout in the Chinese solar industry is officially underway. What’s shakin’ today is a $51 million ...Read Full Story »
J.P. Morgan Starts Plugging MF Global Hole
In a settlement reached late yesterday, J.P. Morgan Chase & Co. (NYSE: JPM) has agreed to return $546 million to investors of now-bankrupt MF Global. The settlement also brings another ...Read Full Story »
Suntech Bankruptcy Heads for Chinese Courtroom
Once the world’s largest producer of solar PV cells and modules, Suntech Power Holdings Co. Ltd. (NYSE: STP) announced this morning that a group of eight Chinese banks have filed ...Read Full Story »
The American Retirement Asset Crisis Is Upon Us
A fresh report from the Employee Benefit Research Institute is signaling that most Americans are going to be retiring with nowhere close to having enough assets and savings for retirement. ...Read Full Story »
It’s Official: Suntech Receives Notice of Default
China’s one-time leader in the production of solar panels has officially been notified by its trustee that the company is in default on a $541 million bond payment and that ...Read Full Story »
Cyprus Moves from Taxation to Theft
What we are seeing is in Cyprus an instance when taxation becomes theft. When depositors place money in banks, they assume that their deposits are safe as long as the ...Read Full Story »
Suntech Defaults on Bond Payment
As expected, Suntech Power Holdings Co. Ltd. (NYSE: STP) failed to make a required $541 million bond repayment scheduled for last Friday. The company claimed last week to have reached ...Read Full Story »
S&P Gives Detroit a Boost
Standard & Poor’s Ratings Services today revised upward its outlook on the city of Detroit’s general obligation bonds, from ‘negative’ to ‘stable. The ratings upgrade affects the city’s unlimited- and ...Read Full Story »
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