ATLANTIC CITY, N.J.— On Monday, New Jersey casino regulators told a bankruptcy court it can't transfer the license of Atlantic City's former Revel casino to new owner Glenn Straub. That's because utility company ACR Energy Partners cut off service to the building on April 9— two days after Straub bought it— in the absence of a contract for future service there.» Read More
Despite tremendous fear that the nonfarm payroll report would be a complete disaster tomorrow, traders acted like there was little urgency. Volume was light, volatility was low and with the exception of one sector (retail) all S&P sectors were up or down less than one percent.
A while back I debated the pros and cons of a proposal to allow bankruptcy judges to modify troubled loans. The President-elect included it as one of the four tenets of his housing plan during the campaign, so one can only surmise that it’s still high on his list.
For all the hand wringing you see from people wondering if GM and Chrysler can get the UAW to re-work wages and benefits or for debt holders to agree on a debt for equity swap, the real trick will be closing dealerships.
The Bush administration is seriously considering "orderly" bankruptcy as a way of dealing with the desperately ailing U.S. auto industry.
In theory, the mass bankruptcy filings should be good for the economy by giving people a second chance. But the damage is already done.
In another sign of the grim holiday season, KB Toys filed for bankruptcy protection for the second time in four years on Thursday, joining fellow retailers Linens 'n Things and Steve & Barry's in seeking Chapter 11 protection amid the recession.
Britain's biggest retailer, Tesco, announced price cuts of 50 percent. Former household favorite Woolworths began a closing-down sale. Music retailer HMV reported a sizable first-half net loss.
It may be your last best option. But you better know what you're doing before you go through with it.
A little before 2 pm ET, The Tribune Company issued a statement that they have filed for bankruptcy. With the statement, came this weird note: "The Chicago Cubs franchise, including Wrigley Field, is not included in the Chapter 11 filing. Efforts to monitize the Cubs and its related assets will continue."
Suppose you were going to buy a new car. With all things being equal — like price, performance, extra features — would you be willing to purchase a car made by a manufacturer that has filed for bankruptcy protection?
As millions of Americans are having problems paying their mortgages, so too are some Atlantic City casinos.
Sweet deals inspired shoppers to hit the mall this weekend, but it doesn't look like the buying binge was enough to save the holiday season. But what's the outlook for investors beyond that. CNBC talked with two retail analysts to get their take.
If you’ve recently received a rebate check from Canon, Costco or Home Depot, you might be for a shock.
I've heard a lot of arguments against, but today I read the most compelling testimony from David Kittle, Chairman of the Mortgage Bankers Association before the Senate Judiciary Committee.
More companies that file for bankruptcy protection are shutting down, lawyers say, because they cannot obtain enough financing to operate while they reorganize.
There are ‘stock’ people and there are ‘bond’ people. I am a stock person and have been all my life. It suits my personality because stock people are optimists. We see the glass as half full.
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.