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High-Profile Bankruptcies
Bankruptcy is big business
From retailers to chemical companies to newspapers to casinos to racetracks — corporate bankruptcies are the order of the day. According to the Ottawa Citizen, US bankruptcy filings by large companies in the first quarter of 2009 were 78 per cent higher than the same period in 2008 and three times [...]
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Bailing Out on Bankruptcy
Bailout vs bankruptcy
Recent government bailouts of private businesses have generated debate about whether the time-honored institution of bankruptcy is the appropriate mechanism for dealing with big business insolvency. Naysayers of the TARP bailouts contend that rescued businesses are candidates for bankruptcy and that bolstering them with public funds not only fails to address underlying [...]
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Anderson, Vanguard File Bankruptcy
Houses just aren’t selling
Sister companies Anderson Homes and Vanguard Homes — the latest residential real estate companies in the Triangle to succumb to the housing downturn — filed on Monday for Chapter 11 bankruptcy protection, according to an article today in the Triangle Business Journal.
In its bankruptcy documents, Anderson Homes, based in Cary, claims $17.2 [...]
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Bankruptcy Is the Answer for Many
The last resort
You can’t make your mortgage payment. Or you’ve lost your job and are faced with a mountain of credit card debt. Either way, you’re a casualty in the nation’s economic avalanche and you find yourself contemplating the last resort — bankruptcy. Bankruptcy is a choice more and more Americans are willing to [...]
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Phone Book Publisher Says “No” for Now
Will it be bankruptcy?
The Dallas Business Journal reported today that Idearc Inc.’s largest shareholder has issued a statement saying the company has no need to contemplate the possibility of filing for Chapter 11 bankruptcy in the future.
Idearc, headquartered at Dallas/Fort Worth International Airport, publishes telephone books and provides consumer information over the Internet. It [...]
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Blockbuster Stock Gets Dose of Confidence
Former competitor buys stock
According to the Dayton Business Journal , Blockbuster Inc.’s stock price rose 13.83 percent Monday morning to 74 cents per share. The increase came after the company received a vote of confidence from a former competitor who purchased additional stock in the company.
A Securities and Exchange Commission filing says Mark Wattles, [...]
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