Business Events Bankruptcy

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    Imagine getting a bill for $1 trillion, or $3 trillion, with a due date  in the next 30 years.  This is a situation faced by all 50 states, whose pension funds are underfunded by $1 to $3 trillion, depending on whose estimates you believe.

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    While some experts see this as an opportunity, skeptics says it's a new financial crisis in the making and that muni bonds should be avoided.  Tell us what you think.

  • Blockbuster

    Blockbuster is preparing to sell itself after failing to secure more cash from creditors to exit bankruptcy protection, according to a report that appeared in The Wall Street Journal Thursday.

  • As states and local governments continue to struggle with fiscal issues, they will be required to begin making better disclosure of their unfunded pension liabilities. This is good news that the depth of the fiscal problems can be analyzed and the investing public will have full disclosure on which to make prudent and informed investment decisions.

  • As Illinois battles with the country’s second-largest budget deficit—some $13 billion—its treasurer, Dan Rutherford, told CNBC Tuesday that bankruptcy, an idea being floated to close budget gaps, would disrupt the bond market and break trust with vendors who do business with the state.

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    Collectively, states have budget deficits of more than $130 billion, unfunded pension and healthcare plans of more than $1 trillion and billions of dollars of unpaid bills to public schools and universities, hospitals and social welfare programs...States are in crisis and floundering to find a solution.

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    Changing federal bankruptcy law to allow individual states to file is an idea that appears to be gathering momentum—and opposition.

  • Sometimes even the most recognizable companies should be banned from the market.

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    Should Congress consider creating a legal regime to enable states to restructure their obligations? With the cacophony of alarm bells as our states sit insolvent thanks to enormous unfunded healthcare and pension liabilities and municipal bond obligations, the answer clearly is yes.

  • Los Angeles, CA

    Although current law does not allow states to go bankrupt, some experts believe it should be permitted so the federal government can avoid bailing out states faced with massive budget shortfalls and the end of stimulus funds in 2011.

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    With anemic property tax revenues and forecasts of more dire financial times ahead, some experts and elected leaders fear that more localities may have to at least consider bankruptcy. The New York Times reports.

  • The finances of some state and local governments are so distressed that some analysts say they are reminded of the run-up to the subprime mortgage meltdown or of the debt crisis hitting nations in Europe. The New York Times reports.

  • In its heyday, the action movie sold two hours of rollicking summertime fun to audiences at the nation’s multiplexes. The massively successful genre evolved over the course of the 1980s and made superstars out of its leading men, people like Bruce Willis, Sylvester Stallone and Arnold Schwarzenegger, all of whose hyper-violent contributions to cinema were lapped up by an eager public. But times change and so do public tastes, and the action movie eventually lost its status as the summer event fi

    What follows is a list of the 15 action movie stars who fell from box office dominance to the lowest rung on the ladder. Here are 15 action movie stars who got their financial butts kicked.

  • GM Headquarters

    GM history in the second half of the 20th century is a story of executive arrogance, missed opportunities, poor decision-making and reckless finance.

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    Merrill Lynch was the world's largest brokerage but in September 2008 – at the height of the financial crisis, it ceased to exist as a separate entity when it was acquired by Bank of America. How could this American institution collapse almost overnight? Now the story is being told.

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    Just two years after a taxpayer bailout of General Motors, some average investors won't be able to get shares in GM's IPO, which is expected to be a lucrative investment opportunity.

  • Big players are going to profit off the little guy again on the most hotly watched IPO since Google and here's how.

  • While gaming companies on the Strip catering to international tourists are starting to see improvement, the verdict's still out on the off-Strip properties.

  • Foreclosure

    If you’re looking to renovate and flip, forget it. But if you’re in a position to buy and hold, with the intent of either renting your property or sitting on it until the real estate recession subsides, the market is ripe for the picking.

  • Extended Stay emerged from Chapter 11 bankruptcy protection, a few months after the hotel chain was bought by a group of investors led by private equity firm Centerbridge Partners.