DETROIT— More than a year after Detroit filed for the largest public bankruptcy in U.S. history, a federal judge is hearing evidence on whether he should approve the city's plan to emerge from billions of dollars in debt. For decades, Detroit paid its bills by borrowing money while struggling to provide the most basic of services for residents.» Read More
How to make sure their financial problems don't become yours.
The U.S. auto industry's best chance for $25 billion in immediate government help may come next week when Congress returns.
General Motors will likely fall below its minimum cash needs of $11 billion to $14 billion in the first quarter of 2009 if the troubled automaker does not receive additional funding, said an analyst at Barclays Capital.
Circuit City Stores, the No. 2 U.S. consumer electronics retailer, filed for bankruptcy protection Monday just a few weeks before the start of the key holiday shopping season, becoming the largest retailer to file under Chapter 11 this year.
There's an opportunity for distressed investors to purchase strong, but over-leveraged, distressed companies for relatively cheap prices and with significant downside protection.
Today, the investment thesis for private equity funds should be to buy distressed, but market leading, companies.
For our corporate reorganization regime to work properly, distressed companies need access to the DIP loan market or good, but over-leveraged, companies will fail.
Regulators have stepped up calls since the collapse of Lehman Brothers last month for more supervision of the $55 trillion credit derivatives market to improve its safety and transparency.
Our credit and consumer expert reveals a new way to think about bankruptcy protection.
Our credit expert breaks down and grades the different options for digging out of debt.
If you think GM is just a short drive from steering into bankruptcy, think again. This morning, while everyone says this company is on the verge of collapsing, a GM spokeswoman emphatically said "NO!"
Ford Motor is not considering bankruptcy protection as an option, CNBC reported Friday, citing company executives. The unidentified Ford executives said bankruptcy is not even under discussion, and that the company has sufficient liquidity.
Markets do not trust the governments' plans to keep struggling banks alive and investors will only calm down when the companies with bad assets are allowed to go bankrupt, legendary investor Jim Rogers, CEO of Rogers Holdings, told CNBC on Friday.
In the midst of the greatest economic freefall this country has ever seen, one of the most popular topics among those in the sports finance world is which team, in which league, will file for bankruptcy first and when.
Lehman Brothers filed for bankruptcy on Sunday to become the largest casualty of the global crisis, while Bank of America adds another slice to its growing financial services empire, buying Merrill Lynch in a $50 billion deal. Following are today's top videos:
Shares of UAL, the parent of United Airlines, were blasted Monday by a false rumor that the company was declaring bankruptcy.
Italy's national airline Alitalia says it has filed for bankruptcy protection, taking the first step in reshaping what has been a failing company.
Peter and Tonya are trying to fulfill their dream of owning a home, saving for retirement and starting an emergency fund. Here's how they're going to do it.
Plus, some tough love for a serial credit abuser.
Also, what to do when your creditor files for Chapter 11, from On the Money's credit guru.