NH AG seeks involuntary bankruptcy for mortgage company that closed suddenly this month

New Hampshire AG seeks bankruptcy for mortgage co.

General Growth says creditors agree to restructure $8.9B in shopping center mortgage loans

General Growth, lenders agree on mall debt rework

General Growth says creditors agree to restructure $8.9B in shopping center loans

General Growth says some malls may exit bankruptcy

Champion Enterprises says no layoffs planned in York, Neb., during bankruptcy restructuring

Champion says Neb. workers safe in restructuring

CEO: Reader’s Digest leaving longtime suburban headquarters for NYC and White Plains

CEO: Reader’s Digest leaving longtime suburban HQ

Study: Bankruptcy rates largely depend on State’s policies, not people

Why does bankruptcy take place? Is it due to people’s fault in terms of their perspective towards debt, wrong decisions in context of managing money, their penchant for default or it happens due to the not-so-prudent policies of the State? To find answers to this ever so important question economists from the Brigham Young University conducted a research study. These economists were Lars Lefgren and Frank McIntyre.

Reborn Fiat confronts a past littered with breakdowns as it prepares for Chrysler alliance

MILAN — In a perfect world, so the joke goes, the Germans are the mechanics, the Swiss are the timekeepers and the Italians are the lovers.

Report: German minister says Fiat, Magna bids for Opel both leave questions open

BERLIN — Germany’s economy minister was quoted as saying Saturday that questions remain over plans by both Fiat SpA and auto parts maker Magna International Inc. to invest in General Motors’ main European unit, Opel, and stressed that he is equally open to both suitors.

Auto suppliers want Congress, Obama to protect supply base amid summer factory shutdowns

WASHINGTON — Auto suppliers say the auto industry’s supply base could be threatened by factory shutdowns by General Motors and Chrysler.

Frontier Airlines seeks to extend bankruptcy plan deadline; says on track to emerge this year

NEW YORK — Frontier Airlines is asking for more time to propose its bankruptcy reorganization plan.

Creditors pave way for Chrysler to exit bankruptcy

WASHINGTON - Chrysler took a giant step towards emerging from bankruptcy and joining Italy’s Fiat Spa after a group of the US carmaker’s creditors Friday gave up their hopes for a better deal.

Trustee in Madoff fraud offers quicker relief to hardest-hit victims

NEW YORK — A trustee wants to give a break to investors hardest hit by the Bernard Madoff fraud.

Analysts say a government-run GMAC could give GM, Chrysler a big leg up on competitors

DETROIT — With the federal government almost certain to take control of GMAC Financial Services, analysts suggest it could become a loan machine that gives General Motors and Chrysler a huge advantage over their competitors.

Hold your horses! Former Pimlico owner De Francis willing to step up to save racing in MD

BALTIMORE — Alarmed over the state of the Maryland horse racing industry, former Pimlico Race Course owner Joe De Francis said Wednesday he would be willing to throw his support behind efforts to keep the struggling track afloat.

Union agreements keep Boston Globe alive, but newspaper’s future uncertain

BOSTON — While a tentative agreement between the owner of The Boston Globe and its largest employees union may keep the newspaper alive for now, the long-term future of the 137-year-old Globe is still uncertain.

Stock futures extend gains after drop in jobless claims; Wal-Mart says April sales rise

NEW YORK — Stock futures are extending early gains following government data showing that new claims for jobless benefits unexpectedly dropped last week to their lowest level since January.

Unexpected drop in new jobless claims, upbeat retail sales reports push stocks higher

NEW YORK — Stocks are higher following upbeat readings on the job market and sales at major retailers.

W.Va. company moves to buy The Greenbrier; owner says he’ll seek bankruptcy dismissal

CHARLESTON, W.Va. — A West Virginia company has acquired The Greenbrier and plans to ask a bankruptcy court to dismiss the resort’s case.

Wall Street heads for higher open as investors await stress test results, economic data

NEW YORK — Wall Street headed to a higher open Thursday as investors anticipate the formal release of the government’s stress tests of banks and fresh economic data on retail sales and unemployment claims.

Chrysler bond holders drop opposition to proposed Chrysler Chapter 11 plan

NEW YORK — The group of dissident Chrysler bond holders challenging Chrysler LLC’s government-backed restructuring plans, said Friday that it is dropping its court fight.

General Motors draws closer to bankruptcy, loses $6B in first 3 months of 2009

DETROIT — General Motors drew closer to bankruptcy Thursday, acknowledging that its revenue fell by nearly half as car buyers worldwide steered away from showrooms for fear that the auto giant would not be around to honor its warranties.

NHL lawyers headed to Phoenix for bankruptcy court showdown with Coyotes

PHOENIX — The National Hockey League is planning a showdown in court over the Phoenix Coyotes’ filing for Chapter 11 bankruptcy and the proposed sale of the team to Blackberry boss Jim Balsillie.

China’s Geely in bid for GM’s Saab, as rumors of other potential takeovers swirl

SHANGHAI — Chinese automaker Geely Automobile Holdings said Thursday it is bidding for General Motors Corp.’s Saab brand, a move that would boost the company’s ability to compete overseas.

Companies that once relied heavily on auto industry now a big presence at wind energy show

CHICAGO — Pete Ostrander and the manufacturer he works for took a hard look at the auto industry four years ago, and neither liked what they saw.

FairPoint’s credit ratings downgraded after plans aired to explore restructuring

PORTLAND, Maine — FairPoint Communications’ credit rating has been downgraded by three ratings agencies after the company revealed it’s considering hiring a financial adviser to explore a possible restructuring of its debt.

General Motors posts $6B 1Q loss, CFO says bankruptcy fears seemed to scare customers

DETROIT — General Motors Corp. lost $6 billion in the first quarter and its revenue fell by nearly half as car buyers worldwide steered clear of showrooms out of fear that the wounded auto giant may go bankrupt and stop honoring its warranties.

Company buys $10M debt of Iowa kosher slaughterhouse that went bankrupt after immigration raid

IOWA CITY, Iowa — An undisclosed company has bought a $10 million credit line to a bankrupt kosher slaughterhouse in northeast Iowa, paving the way for the plant’s sale.

W.Va. firm stakes claim to fabled Greenbrier resort; Marriott says it had contract 1st

CHARLESTON, W.Va. — A West Virginia coal and agriculture company said Thursday it has the rights to The Greenbrier, a once posh playground for the prominent and rich.

Chicken producer Pilgrim’s Pride, now in bankruptcy, posts narrower 2nd-quarter loss

PITTSBURG, Texas — Chicken producer Pilgrim’s Pride Corp., which has filed for Chapter 11 bankruptcy protection, said Thursday its second-quarter loss narrowed as costs declined in its chicken business.

Meltdown 101: Reverse stock split a rare corporate maneuver that reflects depth of GM’s woes

It sounds like a football play or a wardrobe malfunction. But when General Motors Corp. said it may execute a “reverse split,” what that really signaled was a new level of desperation for the troubled automaker.