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Bankruptcy

WNYC News

No Bankruptcy in Atlantic City ... For Now

Tuesday, March 24, 2015

An Emergency Manager appointed by Gov. Chris Christie says the city isn't filing for Chapter 9. But it's a safe bet big budget cuts are coming.

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WNYC News

Bankruptcy Could Be In The Cards For Atlantic City

Friday, March 20, 2015

Once the place to gamble on the East Coast, the city is struggling to pay its bills and residents are waiting anxiously for what's next.

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The Takeaway

Meet The Man Who 'Saved' The Motor City

Thursday, December 11, 2014

The Motor City has emerged from bankruptcy. The Takeaway speaks to the former emergency manager, a man who many credit for turning the city around.

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WNYC News

After Bankruptcy, Banks Still Go After Some Debts

Thursday, November 13, 2014

In what's been likened to a hostage situation, some banks are still extracting payments from debtors who've already filed for bankruptcy, according to the New York Times.

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Operavore

Widespread Surprise at San Diego Opera's Decision to Fold

Tuesday, March 25, 2014

Last week’s news that San Diego Opera, the 10th largest opera company in the United States, plans to close its doors has generated a range of responses.

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America Abroad

America Abroad: Government and Entrepreneurs

Friday, March 14, 2014

Governments around the world are struggling with how to promote entrepreneurship, considered critical to global competitiveness. And in the United States, there's nothing more politically contentious than the role of government in the economy.

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Transportation Nation

Bankruptcy of Bike Share Company Will Not Immediately Affect Systems in U.S. Cities

Wednesday, January 22, 2014

WAMU

Montreal's bike share company, which also supplies equipment and technology to the largest bike share systems in the U.S., has filed for bankruptcy—but transportation officials in the U.S. say that won't have any immediate impact on operations.

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The Takeaway

Detroit Seeks Help to Save City's Art

Tuesday, December 17, 2013

The collection at the Detroit Institute of Arts sits among the top six in America, housing everything from Diego Rivera’s “Detroit Industry” fresco cycle to Vincent van Gogh’s “Self-Portrait.” But in the face of a debt of at least $18 billion, everything is on the table to help pay the city's bills. Dr. A. Paul Schaap, a Detroit philanthropist, joins The Takeaway to discuss what the art is worth to the city and the donor-driven plan to save this piece of the city's culture.

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WNYC News

Loehmann's in Bankruptcy Again

Monday, December 16, 2013

A clothing discounter is deep in the red.

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The Takeaway

Forget Detroit, Puerto Rico Is In Big Trouble

Monday, December 16, 2013

Though Detroit seems to be in dire straights with its recent bankruptcy filing, there might actually be another piece of America that’s even worse off: Puerto Rico. The U.S. territory is facing massive debt, a potentially crippling bond ratings cut, a gaping hole in its massive pension fund, and a towering unemployment rate bolstered by federal entitlements. Ingrid Vila, chief of staff to Puerto Governor Alejandro Garcia Padilla, joins us to discuss Puerto Rico's options.

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Operavore

New York City Opera to Auction Off Instruments, Costumes, Props

Thursday, November 21, 2013

The vestiges of 70 years of operatic history will go on the block on December 12 as New York City Opera plans to auction off its remaining sets, props, costumes, instruments and office equipment.

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The Leonard Lopate Show

The Collapse of Dewey & LeBoeuf

Thursday, October 10, 2013

New Yorker staff writer James Stewart on the collapse of the law firm Dewey & LeBoeuf, which was crippled by financial problems and partner defections, and filed for bankruptcy in May 2012, making it the largest law firm collapse in United States history. He’s written about it in the latest issue of The New Yorker.

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WNYC News

City Opera Struggles to Raise $7 Million By Monday

Friday, September 27, 2013

The people's opera might go belly up. The New York City Opera has until Monday to reach its fundraising goal of $7 million, or it will begin bankruptcy proceedings.

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The Takeaway

Should Detroit Get a Bailout?

Friday, August 02, 2013

Congress has stuck by its promise not to bail out Detroit in the wake of its bankruptcy filing. It’s a position that has Dan Kildee, a Democratic Congressman from Flint, Michigan, infuriated. The federal government has spent more than $700 billion bailing out banks and the auto industry. So, he asks, why can’t it bail out Detroit? 

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On The Media

Detroit As Metaphor

Friday, August 02, 2013

Since Detroit filed for bankruptcy last month, it's been the subject of intense national coverage. Detroit's also been held up as a metaphor for everything that ails the country financially. Bob talks to historian Kevin Boyle, who has written extensively about the city, about how Detroit is and isn't a good synecdoche for the rest of industrial America.

Nils Frahm - For

  

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WNYC News

Detroit's Bankruptcy Filing Shakes Local Officials

Monday, July 22, 2013

Detroit's bankruptcy filing last week is a story that has shaken up officials across the country, especially in New Jersey. The cash-strapped city of Camden, for example, continues to face budgetary shortfalls, and recently cut its entire police force in a belt-tightening move.

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The Takeaway

Detroit Files for Bankruptcy, But City Residents Remain Resilient

Friday, July 19, 2013

Yesterday afternoon, it was announced that the city of Detroit would be filing for bankruptcy today. This bankruptcy petition would seek to protect the Motor City from creditors who are owed over $18 billion dollars. While the city government may be going bankrupt, Detroit residents are picking up the slack. The Takeaway talks with Craig Fahle, Host of WDET's the Craig Fahle Show and Amy Peterson, a Detroit resident who won a local competition that supports creative local projects aimed at social change.

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WNYC News

Sampson Corruption Scandal Hits Home for One Family

Thursday, May 09, 2013

William Easterling and his wife used to own 165 Forbell Street, a two-family home in Brooklyn on the border of Cypress Hills and Ozone Park. The couple raised their four kids there. But they haven’t lived there in almost 20 years.

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The Takeaway

How to Emerge from Default and Debt: Lessons from Cleveland

Tuesday, February 19, 2013

In December 1978, Cleveland, Ohio became the first in the United States to default on its debts since the Great Depression. In the next few days, Detroit will decide whether to appoint an emergency manager for the bankrupt city. Thomas Sugrue, professor of History and Sociology at the University of Pennsylvania, explains what lessons Detroit should learn from the history of Cleveland's default and recovery.

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WNYC News

A Grim Outlook for Brooklyn Hospitals in 2013

Monday, December 31, 2012

The man charged by Governor Cuomo with devising a rescue plan for Brooklyn’s struggling hospitals says 2012 was a “lost year” – and 2013 could bring more bad news.

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