A person who is planning to file for bankruptcy is in a sticky spot financially, to say the least. Already the fees alone – which are around $400 not including lawyer’s fees – can be a difficult pill to swallow for the insolvent consumer. And if that isn’t enough, consider this: Under President Donald Trump’s […]
The Republicans in Washington Are Toying With the Idea of Bankruptcy as an Option for Cash Strapped
The States are burdened with high deficits that cannot be lowered without additional sources of revenue. Every state in the union is battling revenue shortfalls and escalating public pension liabilities. Many States are cutting programs and trimming the ranks of their public employees. To make matters worse, in many states like California, the public is […]
The Republicans Are Toying With Bankruptcy as an Option for Cash Strapped States
The States are burdened with high deficits that cannot be lowered without additional sources of revenue. Every state in the union is battling revenue shortfalls and escalating public pension liabilities. Many States are cutting programs and trimming the ranks of their public employees. To make matters worse, in many states like California, the public is […]
Taxpayers Lose $2.3 Billion with CIT Bankruptcy
CIT filed for bankruptcy protection [1] on Sunday, and part of its plan to heal itself is wiping out the taxpayers’ $2.33 billion stake [2] in the company. CIT, which specializes in lending to small and midsize businesses, got bailout money last December, a vote of confidence from regulators and the Treasury that CIT could […]
Orange County Register Owner Expected To File For Bankruptcy
Freedom Communications, Inc. which owns the Orange County Register, 32 other daily newspapers, 70 weeklies as well as radio stations, operating from coast to coast in the USA, is expected to file for Chapter 11 bankruptcy. This has been reported in the Orange County Register, the financial press and elsewhere. http://headlines.ocregister.com/news/company-40257-bankruptcy-restructuring.html Freedom Communications suffered both […]
GM Bankruptcy – Executives Will Lose Millions in Pension Benefits
Why did Rick Wagner fight so hard to avoid bankruptcy? Was it out of altruism or was a little voice in the back of his head saying, “Careful dude, you are going to lose that supplemental ERP pension.” Rick stands to lose $20 million. Supplemental pension plans have been a feature of the corporate landscape […]
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