… About Bankruptcy, participated in an 8-minute segment STRICTLY ON BANKRUPTCY on the Fox Business News Channel, “Money for Breakfast”.

Part1:

Part2:

Category: Breaking News

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… are finding their benefits reduced or eliminated. According to an article in the Dallas Morning News, Fossil Inc. who reported a 13 percent decline in their 4th quarter earnings and project further losses for 2009 announced that they are implementing job losses that will represent 9 percent of their non-retail payroll. The job losses will save Fossil Inc. an estimated $16 million but employees won’t be so lucky. Fossil is also slashing benefits and reducing salaries for all …

Category: Breaking News

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… the Kansas City School District is considering closing 30 schools.

 

In bankruptcy news, the Kansas City School District is said to be on the verge of bankruptcy unless major changes are made.  On Tuesday February 16 th, the district held meetings letting parents know that the district is considering closing 30 schools within the district.  Hundreds of people showed up to hear the news, and the parents aren’t taking the news lightly.

 

The school district showed the …

Category: Breaking News , Economy

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According to an article in the Dallas Morning News, retail occupancy fell this year to 87 percent due to store closings and retail bankruptcies.

The article said:

“Overall retail building and shopping center occupancy was at 87 percent at the end of June – down from 87.6 percent at the start of the year, Dallas-based Weitzman Group said Wednesday.

The real estate firm said much of the decline in occupancy was due to closings of …

Category: Breaking News , Chapter 11 Bankruptcy , Economy

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According to an article in the Dallas Morning News, Oceanaire Inc. a high-end seafood restaurant has filed for Chapter 11 bankruptcy protection in Dallas but will keep its Galleria location open.

The article said:

“The company said its moves will improve the chain’s cash flow and should allow it to emerge from court protection by the end of the year. “During our restructuring, we expect to conduct business as usual in the vast …

Category: Breaking News , Chapter 11 Bankruptcy

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According to an article in the Dallas Morning News, General Motors Corp., is asking a bankruptcy judge to approve its plan to restructure itself into a new automaker, mostly owned by the U.S. government. Under the proposed bankruptcy plan, the old GM and its remaining assets will be liquidated and shareholders are expected to be wiped out. Also, some consumers who have claims against the bankrupt automaker may not be able to recoup any …

Category: Breaking News , Chapter 11 Bankruptcy

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According to an article in the Dallas Morning News, Debt Relief USA Inc., filed for Chapter 11 bankruptcy this week and has ceased all operations. That’s bad new for debtors who were working with this company because they may not get all of their money back.

The article said:

“Debt Relief USA anticipates sending written instructions to its customers, most former customers, creditors and known potential creditors with instructions …

Category: Bankruptcy , Breaking News

According to an article in the Dallas Morning News, Six Flags filed Chapter 11 bankruptcy in an effort to shed $1.8 billion in debt which is financially crippling the company. Six Flags which operates 23 theme parks in North America, including Six Flags Over Texas, Hurricane Harbor in Arlington and Six Flags Fiesta Texas in San Antonio, is struggling with massive debts that threaten to financially overwhelm the company despite …

Category: Breaking News , Chapter 11 Bankruptcy

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As the news headlines blare stories of the corporate and personal bankruptcies of those who have run into hard times or simply mismanaged their money, many pundits and ordinary Americans are calling for tougher bankruptcy laws.  Many who consider themselves financially responsible resent having to bailout those who are not.  Many people see bankruptcy as a cheat of sorts.  Bankruptcy is not a …

Category: Breaking News

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Chapter 11 bankruptcies have been in the news lately with the bankruptcy of Chrysler and the possible bankruptcy of GM.  Many debtors may be wondering how Chapter 11 bankruptcy could work for them.  Well, most individuals and small business debtors will benefit the most from Chapter 7 or Chapter 13 bankruptcy; but for some debtors Chapter 11 bankruptcy is either required or preferable.

Corporations and partnerships seeking …

Category: Breaking News

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According to an article in the Dallas Morning News, President Obama is planning to sign the credit card legislation that would put a Credit Cardholders’ Bill of Rights in place.

The article said:

The Credit Cardholders’ Bill of Rights Act:

• Takes effect nine months after enactment, except for notice before interest rates are increased, which goes into effect in 90 days.

• Prohibits retroactive rate increases unless the …

Category: Breaking News

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According to an article in the Dallas Morning News Attorney General Greg Abbott filed a lawsuit against two Dallas-area debt settlement companies and two out-of-state firms this week, accusing them of orchestrating fraudulent debt settlement schemes.

The article said:

According to the state’s lawsuits, the defendants unlawfully misrepresented and overstated the nature of their services…Court documents filed by the state claim that …

Category: Breaking News

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