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94%  
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Keyword: bankruptcy

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  • Maryland rakes in millions of dollars from toll fines, penalties

    06/14/2018 1:12:50 AM PDT · by Tolerance Sucks Rocks · 14 replies
    SFGate ^ | April 28, 2018 | Luz Lazo, the Washington Post
    Maryland's stepped-up efforts to collect unpaid tolls are raking in millions of dollars for the state - outpacing the growth in toll revenue itself. State lawmakers and consumer protection groups say the crackdown - which includes referring thousands of delinquent accounts to collections - is punitive and predatory and is pushing Marylanders into debt - and in some cases bankruptcy. Transportation officials say they are only enforcing tolls motorists should be paying anyway - a major shift from years past when the state allowed scofflaws to run up hefty amounts in unpaid tolls and fines without consequences. "Certainly, we want...
  • Weinstein Bankruptcy Reveals Money Owed To Malia Obama (394-page list includes charities)

    06/10/2018 8:40:28 AM PDT · by Liz · 21 replies
    deadline.com ^ | March 20, 2018 | Dade Hayes and Dawn C. Chmielewski
    Some names on the list of The Weinstein Company creditors are not unexpected, given the film company’s business dealings over the years: Quentin Tarantino, Kevin Smith, Dame Judi Dench. But some of the thousands of names on the 394-page list of people owed money by the bankrupt company jump off the page, among them David Bowie, Michael Bay, Malia Obama, Boris Becker, Ryan Coogler, Daniel Radcliffe, Robert De Niro and Darlene Love. Other creditors are less boldfaced but still eye-catching, including the film and television academies, the New York Fire Department and the Los Angeles Police Department. Another mentioned is...
  • U.S. gunmaker Remington exits bankruptcy in tough gun climate

    05/18/2018 3:42:28 AM PDT · by Libloather · 28 replies
    Reuters ^ | 5/16/18 | Tracy Rucinski
    (Reuters) - U.S. weapons manufacturer Remington Outdoor Co Inc FREDM.UL said on Thursday it had emerged from Chapter 11 bankruptcy with less debt and more stable financing that may help it ride out a slowing market for firearms. **SNIP** Under the reorganization plan, inked two days before the Feb. 14 Parkland shooting, creditors including JPMorgan Chase & Co (JPM.N) and Franklin Advisors will take ownership stakes in the company in exchange for forgiving more than $775 million of debt. Remington also received a $193 million new lending package funded by seven banks, including Bank of America Corp (BAC.N).
  • Arizona Governor Ducy Signs Bankruptcy and Guns Reform

    05/13/2018 6:22:42 AM PDT · by marktwain · 22 replies
    Gun Watch ^ | 13 May, 2018 | Dean Weingarten
    Arizona has increased the bankruptcy exemption for firearms to two thousand dollars. Previously, only one gun was allowed as part of a basket of items that were limited to a total of one thousand dollars. From  12news.com: But people filing for bankruptcy also have a choice to make. Under current Arizona law, they can keep only one shotgun, one rifle or one pistol. The Republican-controlled Legislature wants to change that. The Senate is one step away from passing a bill allowing bankruptcy filers to keep up to $2,000 worth of weapons - any kind of weapon. The exemption expands...
  • Guitar-maker Gibson Brands files for bankruptcy

    05/01/2018 6:58:11 AM PDT · by rktman · 139 replies
    marketwatch.com ^ | 5/1/2018 | Austen Hufford
    Storied guitar maker Gibson Brands Inc. filed for bankruptcy protection Tuesday as the company has struggled with its debt load after a series of acquisitions. The company, which filed for chapter 11 in U.S. Bankruptcy Court in Delaware, said it will continue to operate during the proceedings as it focuses on reorganizing around its core businesses. Gibson plans to wind down its Gibson’s Innovations business, which is largely outside of the U.S. The Nashville-based maker of Gibson Les Paul guitars has been struggling with debt it took on to finance acquisitions of home-entertainment and audio-equipment makers years ago. Among businesses...
  • Harvey, IL pension crisis 'canary in the coal mine'

    04/20/2018 6:55:42 AM PDT · by george76 · 18 replies
    American Thinker ^ | April 20, 2018 | Rick Moran
    Harvey. Illinois is in the midst of a financial crisis that represents the tip of the iceberg ... The city of 25,000 in the far northwest suburbs of Chicago is suffering from high unemployment (22%). An astonishing 32% of the population lives below the poverty level. This is a deadly mixture that has caused catastrophic shortfalls in revenue, leading to a crisis in funding pensions for the city's retired workers. Since state law prohibits municipal bankruptcy, Harvey has been forced into a situation Illinois has never seen. In February, the state began to garnish Harvey's revenue to fund its pension...
  • Drivers claim Pennsylvania Turnpike toll hikes are 'highway robbery'

    04/02/2018 7:15:39 PM PDT · by Tolerance Sucks Rocks · 44 replies
    The Pittsburgh Tribune-Review ^ | March 30, 2018 | Debra Erdley
    Elizabeth Zemba of Mt. Pleasant, a daily Pennsylvania Turnpike traveler, turned to art and creativity to express frustration with the highway's ever-rising tolls. She created an Internet meme. A photo of a turnpike tollbooth is overlaid with the logo: "Pennsylvania Turnpike re-inventing highway robbery since 2009." For many, annual turnpike toll increases simply have become too much to bear. Two weeks ago, a coalition of truckers and motorists advocates filed a class action suit against the Pennsylvania Turnpike Commission, PennDOT and Gov. Tom Wolf, seeking to recoup "excessive fees" that went to underwrite projects other than the operation of the...
  • “Tesla, without any doubt, is on the verge of bankruptcy.”

    03/26/2018 9:39:49 AM PDT · by SeekAndFind · 94 replies
    The Sovereign Man ^ | 03/26/2018 | Simon Black
    Just a few days ago, shareholders of Tesla approved an almost comical pay package for their cult leader CEO Elon Musk that could potentially put $50 BILLION in his pocket over the next decade. Let’s put this figure in perspective: at $5 billion per year, Musk would make more than every single CEO in the S&P 500. COMBINED. In other words, if you add up the salaries of all the CEOs of the 500 largest companies in America, it would still be less than the $5 billion per year that Mr. Musk stands to earn. That’s pretty astounding given that...
  • The Real Reason Toys R Us Is Closing That No One Wants to Talk About: Birthrates

    03/20/2018 8:40:52 AM PDT · by SeekAndFind · 78 replies
    PJ Media ^ | 03/20/2018 | Susan L.M. Goldberg
    If you're a parent, you've had at least one passing discussion on the closure of Toys R Us. The mega-giant toy chain that ruled the childhoods of many of today's parents is shuttering nearly 200 stores this month. While bankruptcy is the official reason, it isn't the only or perhaps even the biggest reason why Geoffrey the Giraffe is being sent to the big zoo in the sky: Debt. Competition from online retailers like Amazon, as well as cheaper big-box stores like Wal-Mart and Target. Yes, bad customer service, too. All of these are the most commonly cited reasons...
  • iHeartRadio Has Filed For Chapter 11 Bankruptcy

    03/15/2018 9:23:40 AM PDT · by Enlightened1 · 60 replies
    Forbes ^ | 03/15/18 | Hugh McIntyre
    fter months of delays, discussions and last-minute attempts to avoid an unfortunate financial necessity, the inevitable has finally happened to one of America’s biggest entertainment companies: iHeartRadio has filed for Chapter 11 bankruptcy. The radio titan officially filed for protection late on Wednesday, ending speculation that has been swirling for months. The company has been suffering due to more than $20 billion in debt. That load, which has been crippling the entertainment giant for a decade now, is a result of a 2008 leveraged buyout that also saw the company rebrand into the conglomerate the world knows now. iHeart announced...
  • Game Over For Toys R Us: Chain Going Out Of Business

    03/14/2018 4:58:16 PM PDT · by Java4Jay · 84 replies
    The chain — whose history traces back to a post-World War II baby furniture store — has spent many decades as the country's largest dedicated toy emporium. Today's parents are the millennial generation who grew up with the Internet and approach purchasing decisions and time they spend with children differently from baby boomers. Generally, foot traffic is falling at brick-and-mortar stores. And children are playing differently than they used to decades ago.
  • Orange County Chopper owner declares bankruptcy.

    03/02/2018 8:37:38 AM PST · by Kozy · 74 replies
    MSN.com ^ | 03/01/2018 | Mark Gary
    http://www.msn.com/en-us/tv/news/american-chopper-star-paul-teutul-sr-files-for-bankruptcy/ar-BBJLnuK?li=BBmkt5R&ocid=ientp
  • Gunmaker Remington filing for bankruptcy

    02/13/2018 2:39:52 AM PST · by Fai Mao · 53 replies
    NY Post ^ | 2/12/18 | Richard Morgan
    Remington Outdoor announced plans to file for bankruptcy on Monday, succumbing to a “Trump slump” that whacked sales by 30 percent in its most recent quarter. https://nypost.com/2018/02/12/gunmaker-remington-filing-for-bankruptcy/
  • Gunmaker Remington to file for bankruptcy

    02/13/2018 4:31:05 AM PST · by servo1969 · 27 replies
    FOX Business ^ | 2-13-2018 | Barbara Kollmeyer
    U.S. firearm manufacturer, Remington Outdoor Company, said it will file for Chapter 11 bankruptcy protection, but stay in business throughout the process. "Difficult industry conditions make today's agreement prudent," said Jim Geisler, Remington's executive chairman, in a statement released by the company on Monday.
  • U.S. gun maker Remington reportedly taking steps toward bankruptcy filing

    02/08/2018 6:40:22 PM PST · by jazusamo · 124 replies
    The Washington Times ^ | February 9, 2018 | Victor Morton
    One of the biggest U.S. gun manufacturers is taking steps toward filing for bankruptcy, according to Reuters news service. Remington Outdoor Company Inc. has “reached out to banks and credit investment funds in search of financing that will allow it to file for bankruptcy,” Reuters reported Thursday evening, citing “people familiar with the matter.” According to those sources, the debt-ridden company missed a payment on its debt this week and is seeking “debtor-in-possession financing” that would let the company continue operations once it went bankrupt.
  • America is Bankrupt and Republicans Couldn’t Care Less

    01/22/2018 10:46:37 AM PST · by SeekAndFind · 34 replies
    The American Conservative ^ | 01/22/2018 | Doug Bandow
    The United States is effectively bankrupt, but that doesn’t matter to the GOP. Once evangelists of fiscal responsibility and scourges of deficit spending, Republicans today glory in spilling red ink. The national debt is now $20.6 trillion, greater than the annual GDP of about $19.5 trillion. Alas, with Republicans at the helm, deficits are set to continue racing upwards, apparently without end. This flood of red ink will increase. Last year the Congressional Budget Office figured the U.S. was going to again run trillion dollar deficits around 2022. An extra $10 trillion would be added to the deficit over the...
  • Circuit City making comeback years after going bankrupt

    01/11/2018 9:58:32 AM PST · by ilovesarah2012 · 102 replies
    whdh.com ^ | January 11, 2018
    WHDH) — Former electronics giant Circuit City says it is making a comeback. Circuit City made the announcement at the Consumer Electronics Show, which is being held this week in Las Vegas, according to a CNBC report. The retailer will launch a retail website on Feb. 15, CEO Ronny Shmoel said.
  • When this producer launched a women-only TV company she thought she'd kissed goodbye to conflict...

    11/13/2017 2:28:15 PM PST · by Tolerance Sucks Rocks · 61 replies
    The Daily Mail ^ | April 7, 2009 | Samantha Brick
    Over in one corner sat Alice, a strong-minded 27-year-old who always said what she thought, regardless of how much it might hurt someone else. In the other corner was Sarah, a thirtysomething high-flier who would stand up for herself momentarily - then burst into tears and run for the ladies. Their simmering fight lasted hours, egged on by spectators taking sides and fuelling the anger. Sometimes other girls would join in, either heckling aggressively or huddling defensively in the toilets. It might sound like a scene from a tawdry reality show such as Big Brother, but the truth is a...
  • Angry About the DNC Scandal? Thank Obama.

    11/03/2017 6:11:30 PM PDT · by markomalley · 13 replies
    The Intercept ^ | 11/3/17 | Ryan Grim
    In the fall of 2015, a year before the presidential election, the Democratic National Committee, we now know, was bought for the equivalent of a pawn shop by the campaign of Hillary Clinton. The party organization was still deeply in debt from the 2012 campaign, owing millions to banks and vendors, burning through what little cash it had at a stunning rate of some $3 million to $4 million per month. By August 2015, the DNC was becoming unable to make payroll and approaching the equivalent of bankruptcy, according to a former senior party official, who requested anonymity, arguing that being quoted publicly...
  • The financial collapse of Illinois is accelerating

    10/10/2017 11:47:54 AM PDT · by SeekAndFind · 53 replies
    American Thinker ^ | 10/10/2017 | Thomas Lifson
    John O'Connor of the AP has just broken the news that the unpaid bills of the Great State of Illinois have reached the awe-inspiring sum of $16.5 billion. Illinois is chasing a moving target as it tries to dig out of the nation's worst budget crisis, and a review obtained by The Associated Press shows $7.5 billion worth of unpaid bills – as much as half the total – hadn't been sent to the official who writes the checks by the end of June. Although many of those IOUs have since been paid, a similar amount in unprocessed bills has replaced...