Wednesday, November 21, 2012
Hostess Brands Inc, the maker of Twinkies and Ding Dongs, said late Tuesday failed to reach an agreement with its second-biggest union. As a result, the company plans to continue with a hearing on Wednesday in which a bankruptcy court judge in White Plains, N.Y., will decide if the company can shutter its operations.
Monday, March 26, 2012
The auto industry may be on its way back, but Detroit is close to bankruptcy. But as the city's fate hangs in the balance, Detroit Mayor Dave Bing is recovering from major surgery, and is out of commission for at least several days. Joining us for more on Detroit is Craig Fahle, host of The Craig Fahle Show on WDET.
Tuesday, March 06, 2012
By Charlie Herman : Business and Economics Editor
Lehman Brothers emerged from bankruptcy Tuesday and announced the failed bank widely credited with tipping the U.S. into recession in 2008 will start repaying creditors in April.
Tuesday, March 06, 2012
Jefferson County in Alabama filed for bankruptcy last November, with approximately four billion dollars in debt. Since November, creditors have argued that Alabama law prevents Jefferson County from filing for bankruptcy. Now, a federal judge has ruled that Jefferson County’s bankruptcy is legal, allowing officials to begin drawing up plans which will address the county’s debt.
Thursday, February 02, 2012
On Wednesday, American Airlines declared that it would lay off 13,000 workers or 15 percent of its workforce. The company is attempting to emerge from bankruptcy, which it filed last November. Along with the layoffs, the company is seeking to cut employee pensions and some health benefits. AA CEO Tom Horton called the decisions "painful" but said in the end, the moves would preserve tens of thousands of jobs that would have otherwise been lost.
Tuesday, January 24, 2012
Most college students don’t find much time in between classes, studying, and planning their own futures to solve major problems in their local communities. But when Harrisburg, Pennsylvania found itself on the brink of bankruptcy, a college student saved the day. The 23-year-old John Campbell is also the city’s treasurer. He was elected to the post on January 3 and has a step-by-step plan to save the state capital from financial collapse.
Thursday, January 19, 2012
A business and tech story that has the ring of the inevitable to it. A company that practically alone, created the modern global high-tech consumer culture has declared bankruptcy. Eastman Kodak, this morning a penny stock on the New York Stock exchange. The company that invented consumer photography, more than a century ago has filed for bankruptcy, taken out a credit lifeline, put it's portfolio of storied patents on the block, and started a clock which may tick down to the total end of an American technology story that is among other things emblematic of the digital age we live in.
Wednesday, December 28, 2011
What do Sony Pictures, A&W Restaurants, Saab, American Apparel, Sears, Kellogg's Corn Pops, MySpace, Soap Opera Digest, and Nokia have in common? They’re ten brands that 24/7 Wall St, a Delaware-based financial news group, says won’t survive through 2012. And it looks like some of those predictions might already be coming true — on Tuesday, Sears announced it will close more than 100 stores after lackluster holiday sales.
Thursday, November 10, 2011
Jefferson County, Alabama filed the largest municipal bankruptcy in U.S. history on Wednesday after the County Commissions found its billions of dollars in debts were unsustainable. The county, which includes Alabama's largest city, Birmingham, is $4.2 billion in debt, $3.1 billion of which is owed for a out of control sewer project. The bankruptcy has been looming for years. The Takeaway first reported on the story in March.
Wednesday, June 22, 2011
By Brian Wise
After filing for bankruptcy in April, the 111-year-old Philadelphia Orchestra announced an aid package potentially worth $45 million on Wednesday.
Thursday, February 10, 2011
By Alec Hamilton : Assistant Producer, WNYC News
— Nicole Gelinas, contributing editor at the Manhattan Institute's City Journal and author of After the Fall: Saving Capitalism from Wall Street and Washington on the Brian Lehrer Show.
Wednesday, January 26, 2011
Forty-four states and Washington, D.C. anticipate budget shortfalls of over $125 million by the end of fiscal year 2011, according to the Center on Budget and Policy Priorities. Many state policymakers are blaming their budget crises on public sector employees, citing expensive pension plans. Crushing state debt has caused some federal lawmakers to consider a legislative remedy: allowing states to file for bankruptcy. But will declaring bankruptcy really solve states' pension woes? How will unions react? What other remedies exist for debt-ridden states?
Wednesday, January 05, 2011
America saw 1.53 million personal bankruptcy filings in 2010: a five-year high. The last time bankruptcies happened so frequently was in 2004, when consumers were trying to preempt strict laws that would steer them away from the financial option last resort. Why is the 2005 law failing to slow the rate of bankruptcies?
Tuesday, January 04, 2011
Even though a law passed five years ago was supposed to curb them, personal bankruptcies were up 9 percent in 2010. They were highest in South Florida were filings were up a staggering 40 percent. We're taking a deeper look at this for tomorrow's show and we're asking you: What is the biggest source of your debt (even if you haven't declared bankruptcy)? Here's what you told us by text (sign up by sending the word START to 69866 from your mobile phone):
Monday, December 27, 2010
Thursday, December 23, 2010
We reported yesterday on a lawsuit brought against test-prep giant Kaplan by the Equal Employment Opportunity Commission, who accused the company of discriminating against African-American job applicants by using credit histories in their hiring processes. As it turns out, Kaplan is hardly the only company to do so. According to Takeaway listener Christina Tobin, her bankruptcy filing report has overshadowed her new accounting degree in her job hunt.