The Teetering State of Hawker Beechcraft
Wednesday 22nd of February 2012 06:26:26 PM
Posted by admin / Under Bankruptcy Foreclosure
| PREMISE This article is a summary of the problems at Hawker Beechcraft beyond the context of the lingering effects caused by the 2009 economic downturn, and provides a possible prescription regarding a transformation that would allow for a much more viable entity to emerge. DISCUSSION Another reporting period has passed with more bad news coming from Hawker Beechcraft. Even a cursory glance through the company’s recent SEC filings can make for some unsettling reading if you are an industry watcher. If you happen to be an employee, supplier or debt holder, the news is downright scary. Management is either stoically... |
Golden State on road to Greece, by way of Detroit
Wednesday 22nd of February 2012 06:26:26 PM
Posted by admin / Under Bankruptcy Foreclosure
| California's tax burden, according to the Tax Foundation, is heavy. The Register reported that per-person state and local taxes, fees, licenses and "intergovernmental revenue" amount to $8,634, ranking California 13th-highest among the states. California businesses fare worse, the Tax Foundation said, ranking 48th in tax climate, based on corporate, income, sales, property and unemployment insurance taxes. What's unsaid is the effect on individuals of extremely high corporate taxes. Companies not driven out of state or out of business are less likely to hire or expand, more likely to contract and struggle to provide for current employees... |
AA (American Airlines) to Cut Up to 15,000 Jobs
Wednesday 22nd of February 2012 06:26:26 PM
Posted by admin / Under Bankruptcy Foreclosure
| NBC 5 has learned that Fort Worth-based American Airlines may cut between 10,000 and 15,000 jobs across the company. It is estimated that 1,000 of those jobs to be cut will be at the company's maintenance base at Alliance Airport in north Fort Worth. A meeting where AMR executives are expected to lay out the company's plan for moving forward began mid-morning Wednesday. The plan is expected to include layoffs, pension and pay cuts, and the possible closure of an airplane maintenance facility at Fort Worth's Alliance Airport. SNIP-------- American Airlines' parent company AMR filed for bankruptcy in November of... |
Spanair Shutdown Sparks Disruptions (Euro Dominos Start Falling)
Wednesday 22nd of February 2012 06:26:26 PM
Posted by admin / Under Bankruptcy Foreclosure
| MADRID – Thousands of passengers faced travel disruptions across Spain Saturday after domestic carrier Spanair canceled all of its flights late Friday night and prepared to file for bankruptcy protection. The collapse of the Barcelona carrier took place shortly after Qatar Airways walked away from talks to take over the airline after months of negotiations. "Due to a lack of financial visibility for the coming months, the company has had no option but to cease flying out of a duty of care for the safety of its operation and the well being of all concerned," Spanair said in a statement... |
Bain used legalized theft (bankruptcy) to privative profit and socialize loss.
Wednesday 22nd of February 2012 06:26:26 PM
Posted by admin / Under Bankruptcy Foreclosure
| I’m so tired of the refrain that a critique of Mitt Romney’s work at Bain is “an attack on capitalism.” Capitalism means that you RISK capital, so that you will profit if things go well and you will incur a loss if things go poorly. Private equity firms, like Bain, are in the business of maximizing profit for investors (not to “create jobs” as characterized by Romney supporters), which is perfectly reasonable and legal. To do that, private equity firms often make investments then extract “consulting fees” and “special dividends” in excess of the original investment to ensure that no... |
MF Global Clients May Lose in $700 Million Bankruptcy Fight (RAT Corzine not behind bars yet)
Wednesday 22nd of February 2012 06:26:26 PM
Posted by admin / Under Bankruptcy Foreclosure
| Link only - MF Global Clients May Lose in $700 Million Bankruptcy Fight |
REPORT: Bankrupt American Airlines May Have Just Found Its Knight In Shining Armor
Wednesday 22nd of February 2012 06:26:26 PM
Posted by admin / Under Bankruptcy Foreclosure
| US Airways is reportedly drawing up plans to merge with AMR, the bankrupt holding company of American Airlines, Bloomberg reports. The move would fill a revenue gap for US Airways, while also helping fuel American's weakened hub system, which has been drained as it cut money-losing flights over the past several months. The Tempe, Arizona, based airline has already hired Barclays Capital and Millstein & Co. to advise it before bidding on American. However, it could be more than a year away from officially announcing an agreement, as it waits for AMR to navigate bankruptcy proceedings. The rumor follows speculation... |
40 Wall Street: John Corzine's Latest Office Space?
Wednesday 22nd of February 2012 06:26:26 PM
Posted by admin / Under Bankruptcy Foreclosure
| While nearly three months after the MF Global bankruptcy nobody still has any idea where the billion + in commingled client money has gone, nor why Corzine is still out and about walking freely, the former CEO of both Goldman, MF Global and New Jersey is rumored to be looking for office space at 40 Wall. Reports the WSJ: |
Hostess Brands Preparing for Chapter 11 Filing
Wednesday 22nd of February 2012 06:26:26 PM
Posted by admin / Under Bankruptcy Foreclosure
| Hostess Brands Inc. is preparing to file for Chapter 11 bankruptcy protection as soon as this week, said people familiar with the matter, a move that would mark the second significant court restructuring for the Twinkie and Wonder Bread baker in the past several years. The privately held Irving, Texas, company, which employs roughly 19,000 people and carries more than $860 million in debt, has been facing a cash squeeze amid high labor costs and rising prices for sugar, flour and other ingredients, according to people familiar with the matter. Those costs together have proved higher than the company's roughly... |
Penn Camera files for Chapter 11
Wednesday 22nd of February 2012 06:26:26 PM
Posted by admin / Under Bankruptcy Foreclosure
| Beltsville-based Penn Camera Exchange Inc. announced on its website Wednesday that it has filed for Chapter 11 bankruptcy protection. The company will immediately close five retail locations: Laurel, Fair Lakes, Springfield, 18th Street NW and Pikesville, Md. The future is unclear for the three remaining stores — in Rockville Federal Plaza, Tysons Corner and 18th Street NW — but those locations will be holding clearance sales. Penn Camera's bankruptcy filing was not immediately available online. Company officials did not return requests for comment. "A dramatic decline in sales performance during the preceding holiday period has precipitated this action," the company's... |
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