NH AG seeks involuntary bankruptcy for mortgage company that closed suddenly this month
New Hampshire AG seeks bankruptcy for mortgage co. Company formed to sell unwanted General Motors assets loses $100M since July
Old GM reports $100M in losses since July DETROIT — Would you buy stock in a company that has assets of $1.5 billion, liabilities of $35 billion and only $60,000 in revenue in 2 1/2 months? German industrial orders up 0.9 percent on month in September as economy recovers
German orders up 0.9 percent in September BERLIN — German industrial orders increased again in September thanks to strong foreign demand, official figures showed Friday, offering another sign that Europe’s biggest economy is gaining momentum. GMAC posts smaller loss in 3rd quarter, but home lending unit weighs on results
GMAC Financial Services 3Q loss narrows NEW YORK — GMAC, the main lender for GM and Chrysler customers and dealers, reported another quarterly loss Wednesday as bad loans continued to haunt its mortgage lending unit. Govt investigators say full recovery of auto investment unlikely
GAO: Full recovery of auto investment unlikely Stocks rise ahead of economic data, after Ford posts profit; CIT bankruptcy taken in stride
Stocks gain at open ahead of manufacturing data Stock futures up as market awaits manufacturing data, earnings; CIT bankruptcy taken in stride
US stock futures rise ahead of manufacturing data A look at the top 10 US bankruptcies
A look at the top 10 US bankruptcies CIT Group’s filing for Chapter 11 protection is the fifth-largest in U.S. history. Here are the top 10 U.S. bankruptcy filings, based on the companies’ most recent annual report before filing for bankruptcy protection, according to BankruptcyData.com. CIT Group seeks prepackaged reorganization in New York bankruptcy court
CIT files for Chapter 11 bankruptcy protection Firms in W.Pa. casino project file for bankruptcy protection; still want to build Valley View
W.Pa. casino project seeks bankruptcy protection Lawmakers concerned that moves by GM, Chrysler on carhaulers could undermine union workersWASHINGTON — Months after the government bailed out General Motors and Chrysler, some lawmakers are questioning tough contract demands by the two auto companies that union officials argue could lead to the replacement of hundreds of union carhaulers with nonunion drivers. Newspaper companies that have emerged from bankruptcy protectionNewspaper companies that have emerged from bankruptcy protection: Star Tribune emerges from bankruptcy protection with new ownership, reduced debtMINNEAPOLIS — The Star Tribune of Minneapolis has emerged from bankruptcy protection with new ownership and reduced debt. UAW President Ron Gettelfinger says talks with Ford continue, fine line to walkPLYMOUTH, Mich. — United Auto Workers union president Ron Gettelfinger said Thursday that while the group continues to discuss additional contract modifications with Ford Motor Co. both sides are working to maintain a good relationship. Bankruptcy judge rejects Verizon objection to sale of Nortel business systems unitWILMINGTON, Del. — The judge presiding over the Nortel Networks bankruptcy has ruled against an objection by Verizon Communications Inc. to the sale of a Nortel unit that makes communications systems for businesses. Nearly $400M lighter in debt, Star Tribune prepares to exit bankruptcy but with same pressuresMINNEAPOLIS — When the Star Tribune emerges from bankruptcy protection later this month, Minnesota’s largest newspaper will be far leaner than it once was — but with the same pressure to generate revenue. Nortel Networks to sell business communications segment to Avaya for $900 millionNEW YORK — Nortel Networks, which has been operating under bankruptcy protection since January, has selected Avaya as the successful bidder for its segment that makes communications systems for businesses. Gains in auto and housing industries boost some hard-hit counties, AP stress map showsSigns of life in the auto industry and an easing of the housing crisis helped reduce unemployment and kept foreclosures flat in some of the nation’s hardest-hit areas in July, according to The Associated Press’ monthly analysis of economic stress in more than 3,100 U.S. counties. North America’s biggest French-language newspaper La Presse threatens to cease publicationTORONTO — The publisher of North America’s biggest French-language newspaper, La Presse, said Thursday the publication may cease operations on Dec. 1 if the paper is unable to significantly cut costs. Chemicals maker Huntsman makes $415M bid for assets of Tronox, leaves room for competing bidsNEW YORK — Chemical company Huntsman Inc. has offered to pay about $415 million for Tronox Inc.’s titanium dioxide and electrolytics businesses in a deal that would make Huntsman the world’s second-biggest maker of a whitener used in products as diverse as food, plastics and paint. Report: Orange County Register owner Freedom Communications to file for bankruptcy protectionNEW YORK — Freedom Communications Inc., the owner of the Orange County Register, is expected to file for Chapter 11 bankruptcy protection this week, according to a published report. Auto parts suppliers ask Obama to find new ways to help ailing their sectorWASHINGTON — An auto parts industry association is asking President Barack Obama to consider new ways to help the industry, which is facing a spike in bankruptcies due to the woes of U.S. automakers. Traders keep buying old GM stock despite warnings that it soon will be worthlessDETROIT — Whether it’s a matter of ignorance or greed, people are still buying General Motors stock, even though the company and the government have warned that the shares will someday be worthless. Record number of corporate bankruptcies in the Netherlands in first half of 2009AMSTERDAM — A record number of companies went bankrupt in the first half of 2009, the country’s Central Bureau for Statistics said Wednesday. Frontier Airlines parent, which is operating under bankruptcy protection, reports 2Q profitDENVER — The parent of Frontier Airlines, which is operating under bankruptcy protection and plans to be absorbed by Republic Airways Holdings, said it recorded a $12.6 million net profit for the second quarter, compared with a year-ago-loss of $57.7 million. Iowa labor agency agrees to slash fines by $9M against former owners of kosher slaughterhouseIOWA CITY, Iowa — Iowa’s labor agency has agreed to slash proposed fines by $9 million against the former owners of a kosher slaughterhouse that was the site of a massive immigration raid with the hope that it can recoup a fraction of the penalties. GM, Chrysler defend cutting of dealerships under bankruptciesWASHINGTON — General Motors and Chrysler defended their plans Wednesday to eliminate about 3,000 dealerships, calling it a vital piece of their strategy to rebound from government-led bankruptcies. Auto task force head warns against plan to restore closed GM, Chrysler dealershipsWASHINGTON — The Obama administration urged Congress Tuesday not to intervene in the closings of hundreds of General Motors and Chrysler dealerships, warning it could undermine the automakers’ ability to rebound. CIT Group warns that a bankruptcy filing is still a possibility despite receiving new $3B loanNEW YORK — CIT Group Inc. said in a regulatory filing Tuesday that it might have to file for bankruptcy protection if not enough bondholders participate in a recently launched debt exchange. Denied federal bailout, CIT taps $3B private rescue; may be strategy for other troubled banksNEW YORK — CIT Group Inc. said in a regulatory filing Tuesday that it might have to file for bankruptcy protection if not enough bondholders participate in a recently launched debt exchange. |
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