The company's bankruptcy filing listed $16.3 million in debt and $50,000 in assets. How can a company like this even have any assets? Is it the stacks of VHS tapes sitting in the corner? The Hollywood rights to "Sexiest Shower Scenes?"
Local leaders and citizens need to be aware of the municipal bankruptcy process and what it means to their community. Unless government officials learn to exercise budget control, more and more municipalities may face the prospect of bankruptcy.
Here is something you don't expect to hear people say, "If you file bankruptcy your life will get better." Well, I did file bankruptcy and my life did get better. Within three years of bankruptcy we had purchased a house and before that had rebuilt great credit using secured credit cards.
How can it be that almost every movie (and every big-grossing movie!) out there is VFX-driven, and yet one of the top companies in the industry has to file Chapter 11?
Former Los Angeles Mayor Richard Riordan officially announced his endorsement of mayoral candidate and former federal prosecutor Kevin James.
Hey, in this country of inflationary inequality, gerrymandering, hanging chads and corporations that are people too, my friend -- the lottery seems to us like the last bastion of true democracy!
When he was Archbishop of Milwaukee, Timothy Dolan chose the dead people, placing $55 million into cemetery trust funds and out of the reach of local abuse victims suing the Church. The victims asked a federal bankruptcy judge to reverse him, and on Friday she did.
In fact, Americans age 75 and older are the only group in our survey for which credit card debt actually increased over this time period. Why? The Greatest Generation didn't suddenly become recklessly spendthrift and go wild on eBay.
This has been a lot of discussion of doom and gloom, but the lesson is that while some disasters cannot be avoided we can give our kids the proper tools so that they can have a strong financial future.
Despite demonstrating little product innovation, Hostess survived for decades. Today consumers expect something new at Internet speed.
Washington wants Elizabeth Warren to play the game, wait her turn, not rock the boat. Or she can damn the torpedoes and go full speed ahead in support of popular consumer reforms, at the risk of angering and alienating those who might otherwise be her allies.
It could go down as the day the snack cake died.
The way I see it though, all this fuss is just a case of not knowing what you've got 'til it's gone. Kinda the same way everyone started wearing Michael Jackson shirts a few summers back. But let's not beat a dead horse, and let's certainly not pay $5000 for a single freaking Twinkie.
In the coming months, once investment is secured, I will launch 2210 -- an e-commerce fashion company that sells clothing for men and women aged between 25 and 35. I intend to offer them clothes that are affordable yet feel exclusive.
When you look under the hood of President Obama's auto bailout and take it for a test drive, you learn it's a lemon. Sorry, Mr. President. No sale.
Nothing illustrates the choice between the two presidential candidates better than the 2009 rescue of the auto industry. And, despite Mitt Romney's efforts to distort the contrast with patently dishonest claims and a new TV ad, the auto rescue may turn out to be the deciding factor in the election.