bankruptcy

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SEC: Don't Blame Credit Markets for Firm's Demise

Bankrupt cash management operation comes under federal scrutiny

(Newser) - The feds don’t know what happened to the millions of dollars that disappeared from the books of a Chicago-area cash management firm, but they don’t believe upheaval in the credit markets is to blame. Days after Sentinel Management blocked investors from withdrawing their investments, the company filed for...

Bank of America Bails Out Countrywide

Lender avoids disaster as bank buys $2 billion in cut-rate shares

(Newser) - Countrywide came back from the brink yesterday as Bank of America bought $2 billion in preferred stock in the mortgage company, writes the Los Angeles Times. Countrywide's share price soared in after-hours trading, only a week after the credit crunch brought it to the point of bankruptcy.

Loan Giant Downgraded to 'Sell,' Faces Bankruptcy

Top US mortgage lender caught in the squeeze

(Newser) - Loan giant Countrywide saw its shares plummet 13% yesterday after the company experienced trouble borrowing money in the market for short-term debt. A Merrill Lynch analyst downgraded the stock from "buy" to "sell," sparking talk of possible bankruptcy, reports the LA Times. Before today's open, the company...

A Fool and His Money ... You Know
A Fool and
His Money
... You Know
Aug 8, 2007 6:22 PM CDT

A Fool and His Money ... You Know

Everyone has 10 ways to get rich—here are 10 tips for staying broke

(Newser) - Too much money? Here's some much-needed advice from the Consumerist:
  1. Make shopping your hobby.
  2. Don't budget.
  3. Buy your friends gifts you can't afford
  4. Grocery shop hungry, don't bring a list, and buy everything you sample.
  5. Use the ATM at the gas station.

Bear Stearns Takes Refuge in Caribbean

Bankrupt hedge funds ticketed for liquidation in friendly Caymans

(Newser) - Bear Stearns, faced with the implosion of two hedge funds worth more than $1 billion, has decided to liquidate them in the Cayman Islands—a move that will give creditors and investors less access to their money.  Bloomberg forecasts a court battle over the tactic, which an analyst said...

Stocks Surge as Jitters Remain
Stocks Surge as Jitters Remain
Aug 2, 2007 4:36 PM CDT

Stocks Surge as Jitters Remain

(Newser) - The Dow was up 100.96 today—mostly in late trading—closing at 13,463.33 after Asian markets made a partial recovery from its recent hemorrhage and some rare good news emerged from the housing market. Retail and tech winners beat losers; Nokia, Motorola, CVS, and Hewett-Packard all put...

Ronco Goes Bankrupt
Ronco Goes Bankrupt
Jun 16, 2007 4:49 PM CDT

Ronco Goes Bankrupt

(Newser) - But wait, there’s more, as pitchman Ron Popeil liked to say. Ronco, maker of Veg-o-matic, Chop-o-matic, Popeil’s Pocket Fisherman, and an endless array of consumer items sold through infomercials, has filed for Chapter 11 bankruptcy protection. While founder Ron Popeil had sold the company in 2005, he remains...

International Banks Face Trial in Italian Court

Morgan Stanley, others indicted in wake of Parmalat bankruptcy

(Newser) - Four gold-plated investment banks have been ordered to stand trial for alleged market manipulation for their roles in advising Italian dairy giant Parmalat, which declared bankruptcy in 2003. Italian prosecutors say Morgan Stanley, Deutsche Bank, UBS, and Citigroup allowed Parmalat to manipulate its finances, helping it to defraud investors even...

Delta Flies Out of Bankruptcy
Delta Flies Out of Bankruptcy
Apr 30, 2007 11:28 AM CDT

Delta Flies Out of Bankruptcy

(Newser) - Delta has emerged from bankruptcy, riding an aggressive restructuring plan to exit Chapter 11 a year ahead of schedule. The No. 3 domestic airline, which staved off a hostile takeover bid from US Airways this year, used court-enforced protections to secure cuts to wages and pension programs as it shored...

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