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The United States is grappling with a mounting housing crisis as median three-bedroom rents surge beyond the reach of average local wages in 197 out of 338 counties, according to ATTOM. This alarming trend aligns with the broader economic challenges facing individuals and families as housing costs outpace income growth. Both rents and real estate prices have experienced significant escalations, far outstripping the pace of wage and salary increases. The consequences are particularly felt by younger generations, who have been hopeful for a real estate market correction to ease the burden of soaring housing costs.

As the economic horizon teems with optimism, a darker reality unfolds for Generation X and Millennials, signaling a looming debt crisis. Recent reports indicate a concerning uptick in bankruptcy assistance, a silent alarm echoing amidst the cheers for positive economic data. LegalShield’s December Consumer Stress Legal Index (CSLI) reveals a three-year peak in financial duress, driven by a relentless rise in bankruptcy and legal assistance requests—over 35 million and counting. Contrary to the recent surge in consumer confidence, this data forecasts a dip, exposing a groundswell of fiscal challenges. Particularly impacting younger generations, this trend hints at a latent economic...

ASHEVILLE, N.C. — The city of Asheville's purchase of five electric buses in 2018 has turned into a multi-million-dollar loss. The buses have been broken or unable to run because of software and/or mechanical issues, making them an expensive and disappointing purchase, according to city maintenance and transportation staff. ... Currently, three of the five buses are idled, with one that has had a broken double door since July. “We haven’t been able to get new doors,” Asheville's interim transportation director Jessica Morriss said. “There's no third party that makes a door. We'd have to get custom-made doors.” Each of...

A bankruptcy judge gave Rudy Giuliani the green light to seek a new trial to challenge the $148 million defamation verdict won by two Georgia election workers after Rudy got railroaded by an Obama judge and was unable to present any evidence at trial. Last month Rudy Giuliani filed Chapter 11 bankruptcy protection one day after Obama-appointed Judge Beryl Howell ordered immediate enforcement of Georgia election workers Ruby Freeman and Wandrea “Shaye” Moss’s $148 million judgment against him. According to Bloomberg, Giuliani listed $500 million in debts and between $1 million and $10 million in assets. The bankruptcy filing put...

When a person wants to get a loan from a bank, they are first evaluated on whether or not they will be able to pay off the loan. The bank looks at the person’s credit score, and the person either receives the loan or is denied the opportunity.Most of us have gone through the process once or twice.But did you know that companies have their own “credit scores” that lenders look at?Securing additional funds is critical for some companies. And if they can’t, it can eventually result in bankruptcy.So knowing a company’s financial situation is key to being a good...

Audacy, the radio and podcast giant, it filed plans for Chapter 11 bankruptcy protection to reduce its debt. The restructuring agreement will allow Audacy to slash its total debt load by 80% to about $350 million from around $1.9 billion ... Audacy , the radio and podcast giant, said Sunday it filed plans for Chapter 11 bankruptcy protection in Texas to reduce its debt. The restructuring agreement will allow Audacy to slash its total debt load by 80% to about $350 million from around $1.9 billion ... The Philadelphia-based company owns hundreds of radio stations and is one of the...

Major retailers have experienced a wave of store closures in 2023, an 80% surge from the year prior, Coresight Research reports. The top reasons include bankruptcy of one major chain and some stores just not performing well in certain areas. The continued growth of online shopping is another factor, and other retailers said that theft is a major reason for their decision to close some stores, according to CBS News. When Bed Bath & Beyond filed for bankruptcy in April, it led to the closure of 866 stores, a Coresight report finds. The second largest number of closed stores was...

The future of Boston Market is in jeopardy after owner Jignesh Pandya filed for personal bankruptcy on Dec. 8 with the Eastern District of Pennsylvania Bankruptcy Court. The chain, which has over $329,000 in unpaid sales and payroll taxes, also had its headquarters seized by the Colorado Department of Revenue. Engage Brands, one of the Rohan Group of companies, owned by Pandya of Bucks County, Pennsylvania, purchased Boston Market from affiliates of Sun Capital Partners in 2020, the same year it also acquired Corner Bakery from affiliates of Roark Capital Partners. The Dallas-based bakery, however, filed for Chapter 11 earlier...

Rudy Giuliani has filed for bankruptcy, days after being ordered to pay $148 million in a defamation lawsuit brought by two former election workers in Georgia who said his targeting of them led to death threats that made them fear for their lives. In his filing Thursday, the former New York City mayor listed nearly $153 million in existing or potential debts, including close to a million dollars in tax liabilities, money he owes his lawyers and many millions of dollars in potential legal judgements in lawsuits against him. He estimated his assets to be between $1 million and $10...

Former New York City Mayor Rudy Giuliani filed for Chapter 11 bankruptcy Thursday in the wake of a $148 million civil court ruling and a mountain of unpaid legal bills. Giuliani, 79, estimates he currently owes $153 million — an amount that will likely balloon due to several other pending lawsuits and when millions of dollars in pending legal bills are factored in, according to the Manhattan federal court filing. The $148 million settlement was the biggest financial blow to Giuliani, but he also owes the IRS more than $700,000 and more than $260,000 to New York State tax authorities,...

Bird, once valued at $2.5 billion by investors, filed for Chapter 11 bankruptcy protection in Florida federal court Wednesday. In a release, Bird said it will use the bankruptcy proceeding to facilitate a sale of its assets, which it expects to complete within the next 90 to 120 days. Bird’s electric scooters are touted as an environmentally friendly alternative to driving and other forms of public transit. ... Bird’s bankruptcy proceedings come after the New York Stock Exchange delisted the company in September. Bird failed to comply with the exchange’s requirements after it was unable to keep its market capitalization...

Trouble has followed Sara Catherine Jones since she married into the Biden family almost three decades ago. Not long after her 1995 wedding to Jim Biden, she took a job with one of his brother Joe’s Senate donors, who later accused her of “fraud” and “unjust enrichment,” according to court records reviewed by RealClearInvestigations. In the years since, she and her husband have been accused of reneging on debts and failing to pay their taxes, court and property records show. Like their nephew, first son Hunter Biden, they have reportedly sold the promise of access to their powerful relative to...

The 72nd Annual MISS UNIVERSE PAGEANT will be broadcast LIVE from El Salvador on Saturday, November 18th on YouTube, Roku or Telemundo in the United States, starting at 8:00 PM ET. The pageant's owners, JKN Global Group, out of Thailand, just filed for bankruptcy last week. This year's pageant will go on as scheduled. I always watch this contest on Telemundo because Latin American countries take this pageant very seriously and do a great broadcasting the event. They even have a pre-show scheduled as well. Two trans women, Miss Portugal and Miss Netherlands, will be competing amongst the 84 candidates....

It turns out that viewers do not want to see men competing in a women's pageant. Who could have guessed? According to Fox Business, the JKN Global Group filed for bankruptcy last week in Thailand. JKN owns the Miss Universe pageant, which this year will feature two transgender contestants: "Miss" Portugal and "Miss" Netherlands."Miss" Spain -- the first transgender contestant in pageant history -- competed in 2018. He did not advance to the finals, however, no doubt due to transphobia. Thankfully, a new owner means a remedy for that vile "fear" of men pretending to be women. The JKN Global...

Ah, I love the smell of smoking turbines in the morning. It smells like victory. Europe's largest onshore wind farm is facing bancruptcy and has filed for reconstruction with Swedish court.Markbygden ETT, the first phase of the Markbygden 1101 project, is facing difficulties after signing a baseload PPA with Norwegian Hydro Energi. pic.twitter.com/Aj0kIT9hjJ— Simon Wakter (@simonwakter) November 12, 2023That’s Europe’s largest onshore wind farm going under at the moment. Interestingly enough, 75% of the company is owned by a Chinese company called CGN, China General Nuclear. When they put this wind farm in, they signed a 19-year Power Purchase Agreement...

The trans activist company behind the Miss Universe pageant has sensationally filed for bankruptcy just days before the pageant is due to take place in El Salvador. Thai-native and trans woman Anne Jakrajutatip acquired the event for $20 million in 2022 from IMG Media, adding it to the portfolio of JKN Global Group. Between 1996 and 2015, the Miss Universe Pageant was part of Donald Trump's business empire. The company also owns Miss USA and Miss Teen USA. The bankruptcy comes after the company missed out on fulfilling a $12 million loan repayment. Despite the setback, JKN has been bullish...

GET WOKE GO BROKE, FOOLS! For your weekly dose of comical news, the Thai based owner of Miss Universe, JKN Global Group, has filed for bankruptcy. This comes after accepting multiple transgender contestants for the 2023 pageant set for November 18. True comedy if you ask me. Transgender activist Anne Jakrajutatip, who's transgender as well, runs the pageant and is part of JKN Global Group who bought the organization for $20,000,000 in 2022. JKN Global Group insisted it is trying to resolve a “liquidity problem” and filed for bankruptcy with the Thai Bankruptcy Court. The group’s petition for business rehabilitation...

Premier Kings, a 172-unit Alabama and Georgia operator whose owner died in 2022, declared Chapter 11 bankruptcy protection, citing substantial operating losses. Premier Kings, a 172-unit Burger King franchisee whose owner died in 2022, declared bankruptcy protection, saying that operating losses even after the company closed restaurants forced the issue. It’s the third time this year that a major Burger King operator has taken such a step, while several others closed restaurants around the country in the aftermath of the chain’s sales and profit challenges. In this case, Premier Kings’ Chapter 11 filing follows the untimely death of its owner,...

Rite Aid said it will close 150 of its 2,100 US locations after filing for bankruptcy.. CVS is set to close the doors on 900 of its stores by the end of 2024.. Walgreens will shutter 150 stores by summer 2024 - leaving millions in 'pharmacy deserts' . The nation's largest drugstore chains, Rite Aid, CVS and Walgreens, will shutter more than 1,500 stores, leaving millions of Americans without access to healthcare in 'pharmacy deserts.' Rite Aid said it will close 150 of its 2,100 US locations after they filed for Chapter 11 bankruptcy earlier this month. The pharmacy chain...

A Texas judge ruled that Infowars host Alex Jones cannot use bankruptcy protection to avoid paying Sandy Hook massacre victims' families more than $1.1 billion for his conspiracy theories that the 2012 shooting was a hoax. U.S. District Judge Christopher Lopez of Houston issued the ruling Thursday. "The families are pleased with the Court’s ruling that Jones’s malicious conduct will find no safe harbor in the bankruptcy court," said lawyer Christopher Mattei, who represents the families. "As a result, Jones will continue to be accountable for his actions into the future regardless of his claimed bankruptcy."