"By granting Puerto Rico access to an orderly bankruptcy regime as soon as possible, Congress can help put Puerto Rico- and the millions of U.S. citizens who live there- on the best path to a sustained recovery," Treasury Secretary Jack Lew said in a letter to Orrin Hatch, a Republican who chairs the Senate Finance Committee. Lew said Puerto Rico had made "less than...» Read More
Though it came as no surprise to investors, the collapse of General Growth Properties, the nation’s second-largest mall owner, has stirred new fears about a coming debacle in commercial real estate. The company, which owns 200 shopping centers encompassing 200 million square feet and 24,000 tenants, filed for bankruptcy protection last week.
Your first option should always be credit counseling, says John Ulzheimer.
Today on the company conference call updating its restructuring, I asked GM CEO Fritz Henderson is the company will go beyond the number of plants it laid out for closure when updating the Federal Government on February 17th.
Stocks ended a rocky session higher Thursday as investors were encouraged by JPMorgan's results and techs rallied amid anticipation of better results from Google after the bell.
An early pop fizzled Thursday as investors digested a mixed bag of economic and earnings news. Banks were mixed as techs gained.
Futures pointed to a higher open Thursday as investors shrugged off some dismal data points, choosing to focus on a drop in the headline jobless-claims number.
What happens when a company like GM files for bankruptcy? Here are some basic answers
Auto industry legends weigh in on President Obama’s push for the right solution.
Would it be better for taxpayers if GM went into bankruptcy? That's what some are saying on Wall Street this morning.
The U.S. Department of Labor filed complaints Wednesday accusing suspended NFL star Michael Vick of illegally spending about $1.3 million in pension plan funds for his own benefit, including paying restitution ordered in his dogfighting conspiracy case.
Key Democratic lawmakers are pushing legislation that would block creditors charging high interest rates on credit cards from collecting from consumers in bankruptcy proceedings.
The white-hot anger over AIG continues to radiate heat beyond any politician's worst nightmare. This is what happens when friends don't let friends go into bankruptcy.
In Moody’s “U.S. Bottom Rung” report, the ratings agency lists the 283 speculative-grade, non-financial U.S. companies most at risk of default. Check out the list.
General Motors' auditors have raised "substantial doubt" about the troubled automaker's ability to continue operations, and the company said it may have to seek bankruptcy protection if it can't execute a huge restructuring plan.
General Motors' says it gave Chief Executive Rick Wagoner compensation valued at $14.9 million last year for leading a company that lost $30.9 billion and is running on government loans.
American International Group should be allowed to go bankrupt because keeping it and other sick financials alive on government support risks ruining the US economy, legendary investor Jim Rogers told CNBC Tuesday.
When a company carries too much debt, disastrous consequences may arise for employees and the company itself.
Gerald Greenwald, a founding partner at Greenbriar Equity Group, joined CNBC today to give his opinion on the ailing economy and his hopes that GM can avoid Chapter 11 bankruptcy.
An Obama administration task force considering the fate of General Motors and Chrysler is discouraging bankruptcy protection as an option for the struggling companies, two senators said Tuesday.
The peanut processing company at the heart of a national salmonella outbreak filed for bankruptcy Friday, a sign the beleaguered company plans to cease business in the wake of the health scare.