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Bankruptcy

WNYC News

Mediation Talks Fail, Hostess Plans To Liquidate

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.

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The Brian Lehrer Show

Twinkies Won't Last Forever?

Friday, November 16, 2012

Rachel Feintzeig, reporter for the Wall Street Journal covering bankruptcy and restructuring, discusses the announcement that Hostess plans to liquidate in the wake of failed labor negotiations.

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The Takeaway

Detroit Mayor Hospitalized as City Nears Bankruptcy

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.

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WNYC News

Lehman Returns: Bank Emerges from Bankruptcy 3.5 Years Later

Tuesday, March 06, 2012

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.

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The Takeaway

Alabama County Files for Largest Municipal Bankruptcy in U.S. History

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.

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The Takeaway

American Airlines Seeks to Lay Off 13,000

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.

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The Takeaway

The 23-Year-Old Treasurer of Harrisburg, PA

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.

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The Takeaway

Eastman Kodak Files for Chapter 11 Bankruptcy

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.

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The Takeaway

Brands That Might Be Extinct in 2012

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.

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The Takeaway

Jefferson County, Alabama Files for Bankruptcy

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.

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WNYC News

Syms, Filene's Basement File for Bankruptcy

Wednesday, November 02, 2011

The retailer Syms and its subsidiary, Filene's Basement, have filed for bankruptcy, and plan to liquidate their stores by January.

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WNYC News

Madoff Trustee Heads Back to Court

Monday, October 03, 2011

WNYC

The court-appointed trustee working towards recovering funds for the people who invested money with Bernard Madoff is expected back in court Monday.

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WQXR Blog

Financially Troubled Philadelphia Orchestra Announces Millions in Donations

Wednesday, June 22, 2011

After filing for bankruptcy in April, the 111-year-old Philadelphia Orchestra announced an aid package potentially worth $45 million on Wednesday.

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WQXR Features

Philadelphia Orchestra Votes for Bankruptcy

Saturday, April 16, 2011

Against the ostinato of a still-fragile economy, the board of the 111-year-old Philadelphia Orchestra voted to file for Chapter 11 bankruptcy on Saturday.

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It's A Free Country ®

The False Hope of State Bankruptcy

Thursday, February 10, 2011

WNYC
This is a problem endemic to politics — people without responsibility happy to go off saying things that are not going to work in practice.

— 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.

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The Takeaway

Should States Be Allowed to Declare Bankruptcy?

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?

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The Takeaway

Why US Bankruptcies Have Reached a 5-Year High

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?

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The Takeaway

Personal Bankruptcies Up 9 Percent

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):

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The Takeaway

Does Debt Discrimination Infringe On Your Civil Liberties?

Monday, December 27, 2010

We come back to an ongoing conversation as regards debt and unemployment in America. Last week we spoke with Takeaway and WDET listener Christine Tobin, from southeast Michigan. She told us she believes she was turned down for a job because her credit check came back with a prior bankruptcy.

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The Takeaway

Rating vs. Resume: Can Bad Credit Kill Your Job Prospects?

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.

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