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Government will lose $2.3 billion from CIT bankruptcy
CIT, the largest firm to go bankrupt after getting a federal bailout, $2.33 billion in taxpayer money to be exact. CIT failed to win a second government bailout in July or persuade bondhoders to swap $30 billion in debt to prevent a bankruptcy filing this month. CIT's Chapter...
created by mollyzelvonberg | 5 days ago | updated 5 days ago
36 views | 0 recommendations | 1 comment
36 views | 0 recommendations | 1 comment
Allen Stanford Back in Jail after Banged Up From brawl
Alleged mastermind of a $7 billion fraud, Allen Stanford, is back in his jail cell after suffering a mild concussion, broken nose and two black eyes in a prison brawl last week. "Stanford, 59, was injured in a... Tavern on the Green Restaurant in NYC Files for Chapter 11
Tavern on the Green, a famous restaurant in the middle of Central Park, has filed for Chapter 11 Bankruptcy protection. It will have to yield its license to another operator. "In a statement, the current license... BBC To Turn The Collapse Of Lehman Brothers Into A Movie
BBC announced it turned the bankruptcy of Lehman Brothers -- one of the biggest Wall Street collapses in history into a movie. The saga surrounding the downfall of Lehman Brothers in 2008 named “The Last Days Of...Norway Towns Sue Citi Over Losses
Seven Norwegian municipalities are suing Citigroup Inc after losing millions of US dollars on investments. The towns are seeking $200 million in damages together with Norwegian firm Terra Securites. Terra bought the structured notes from Citigroup in May and June 2007, and... Could Hyperinflation Happen?
Theoretically, yes. Hyperinflation is a scary thought. Technical definitions vary, but while it could be argued that mild inflation can be a sign of a growing economy, hyperinflation is certainly never a good... Christian Lacroix Rescued from Bankruptcy by Chevalier Blanc
The fashion house of Christian Lacroix is no longer facing bankruptcy, thanks to Chevalier Blanc. a wine producer from Bordeaux. Christian Lacroix filed for bankruptcy protection in May, and although there have... Crocs Facing Bankruptcy, Hoorah!
The dreaded Crocs, favoured by overweight mid-westerners on the brink of mid-life crises and naive children, is facing bankruptcy. Even after selling over 100 million pairs of the comfortable-yet-embarrassing...
created by Blaine Metzgar | 16 wks ago | updated 13 wks ago
2217 views | 0 recommendations | 10 comments
2217 views | 0 recommendations | 10 comments
NASCAR pleased after GM pulls out of bankruptcy
NASCAR Driver and Owners are happy that GM has pulled out of Bankruptcy. " JOLIET, Ill. -- The swift exit of General Motors from bankruptcy protection was good news for NASCAR's industry leaders, who count... The NEW GM !
Allll riiiigght! America's heavyweight automaker has reentered the fray, "leaner and meaner", we hope! At least, that's what's been reported by the Associated Press. So,... Doctor Says Obama Healthcare Plan Has Real 'Mechanical' Problems
"The Grouch” is a Tennessee emergency room physician who penned a must-read piece today under the headline, Socialized Auto Repair and Car Care. In it, he diagnoses some real “mechanical problems” of... Eddie Bauer files for Chapter 11 Bankruptcy protection
Eddie Bauer, the U.S clothing giant, has filed for Chapter 11 Bankruptcy protection and announced it wants to sell itself for $202 million to CCMP Capital, which is a private equity firm. Eddie Bauer filed for... Six Flags Amusement Park files for bankruptcy
Six Flags Amusement Park, the popular theme park destination, has filed for bankfuptcy in Delaware, after failing to reach a decision with lenders to settle their debt out of court. This is the latest U.S company... It Will Take a Miracle for GM to Pay U.S. Back
I was impressed by What I Learned Today about the “bill of goods” that is being sold to the American taxpayer in the form of the government rescue of General Motors: $30.1 billion = 60 percent stake in New... ‘Pack Up Your Troubles in Your New S__t Bag’
The kind of bag Americans might soon need is different than the song-inspiring bag into which they packed all their troubles nearly a century ago — and it’s not a “kit” bag. In 1915, when George Asef and Felix Powell came up with the lyrics for the song, “Pack Up...
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