There is an All State Insurance commercial currently running on televisions in the United State that talks about how the company was created in the middle of the great depression, and how they have been around for the 7 or so recession since. The actor in the commercial says that when the fear subsides, and [...]

The end of Chrysler nears, at least before it is reorganized in bankruptcy court, at which point it may reemerge as concern owned mostly by its unionized worker force and the Italian car maker Fiat, better known to some Americans as Fix It Again Tony.
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“The American automaker Chrysler will file for bankruptcy on Thursday, an [...]

CNBC had an excellent program called “House of Cards” that has aired a few nights ago, and will continue to be aired on televeision a few more times (check out the schedule).  You can watch the entire program, thanks to Hulu.com. Â
Let’s hope we are all wealth and retired by the time this house of [...]

I am against the Banking/Mortgage bailout, so the first part of the evening to me was a waste of time.
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Getting to the good stuff:
The second part, regarding energy, and building better infrastructure is where I agree.  I would have thrown the whole $700 billion directly into projects that create better infrastructure, which means better roads, better [...]

Last week we wrote about the possible failure of Trump Entertainment Resorts in Companies Who Could Fail in 2009.  Confirmation reported by Wall Street Journal today that Donald Trumps casino is expected to file Chapter 11 of the Bankruptcy Code on Tuesday morning.
The move could affect 9500 employees.  This is expected after the stock has [...]

Something’s gotta give at Sirius XM. Â
As of Sept 30th 2008 they had $360 million in cash and $2.8 billion of long-term debt.  On February 17, 2009 — Sirius has $300 million in debt due to mature. Â
Echostar has stepped in and purchased part of that $300 million.  Echostar isn’t playing their cards too close, [...]

I read two articles today that pertain to General Motors and the fight going on between the US government (on behalf of taxpayers) and prior creditors. Â
Everyone is fighting for first position in line when General Motors goes into bankruptcy. Â
Read the articles:
The Huffington Post – Crysler, GM Bankruptcy Looming in Detroit
The government has known [...]

Yahoo posted an article on Friday — 15 Companies That Might Not Survive 2009.  It’s a list of many companies that we take for granted are around.  Not only do we take for granted having their products, but their jobs!  On this list are over 351,500 jobs on the line.  That’s scary. Â
Not all of [...]

Nortel Networks filed for Chapter 11 today. Â
No doubt the drop in spending affected them, after retail sales fell 2.7% in December.
Nortel Networks is under pressure by a $107 million payment on interest due tomorrow.
Stock prices (TSE:NT) are down from a 52 week high of 14.00, to 0.385. Â
No doubt this news will affect retail [...]

For those who don’t, below is a video of the type of credit card you may find yourself with after bankruptcy — the world’s worst credit card.

What will the final cost be to fix Detroit’s Three automakers?
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A comprehensive bailout for General Motors, the Ford Motor Company and Chrysler could cost as much as $125 billion, and even the companies themselves are hard pressed to dispute that figure.
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At the height of the market the three companies where worth about $ 144 Billion
 

5/20/1999

GM

Ford

Chrysler

Prices

 $                   [...]

Today, Monday, November 10, 2008 — we have been having great news from everywhere.  Circuit City announcing bankruptcy, another $40 billion for AIG (guess it’s good news for them?), and now we have 2 more bank failures.
CNN Money reports, 2 more banks go belly-up, as Franklin Bank (of Houston) and Security Pacific Bank (of California) [...]

Just announced, Circuit City (NYSE:CC 0.25 on 11/10/2008) has filled for Chapter 11 bankruptcy. Â
Read the article on Reuters here, Circuit City files for Chapter 11 bankruptcy.
This coming after announcing over 150 store closings.

It seems that time is running out on General Motors Corp (NYSE: GM 4.36 11/07/08), as the current economic crisis is causing more hurt in the budgets of middle class Americans, people have stop buying cars. GM says that they are on course to fall significantly short of the cash they need to continue paying [...]

Great article written from an inside perspective on what happens when a bank fails:
http://www.charleston.net/news/2008/jun/08/anatomy_bank_failure_when_liquidators_comes_callin/