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Newpage Paper Files for Bankruptcy
Newpage's filing for chapter 11 debt restructuring on Wednesday was a way to handle its $3 billion of debt. The company reported a loss of $656 million last year. "It is very disappointing news to the
Updated: 09/07/2011 08:49P
Energy Efficiency? Government Green Energy Stimulus—Not!
Late last month, solar panel maker, Solyndra Inc., announced Chapter 11 bankruptcy. This, in spite of the Energy Department guaranteeing their loans --enough to raise about a billion private and public dollars! They were the third such domestic solar
Updated: 09/07/2011 08:47P
Postmaster General Says Postal Service Near Bankruptcy
Due to competition, technological changes and labor costs, the United States Postal Service (USPS) is “on the brink of default,” Postmaster General Patrick Donahoe warned on Tuesday. The White House said that
Updated: 09/07/2011 08:43P
Solar Company Failure Shows That Less Federal Aid Can Work Better: View
In a cringe-worthy failure, California solar-panel maker Solyndra filed for bankruptcy this week, just two years after winning $535 million of federal loan guarantees. Solyndra's rapid rise and fall should have played out entirely in the private sector
Updated: 09/07/2011 08:39P
Jones Day | Jones Day Madrid welcomes Mergers & Acquisitions partner Miguel
Mr. Bermdez de Castro has more than 20 years of experience in corporate and finance matters and in pre-bankruptcy corporate restructuring. After beginning his career in Gomez Acebo, he started his own firm in 1999 and later founded Lexland Abogados,
Updated: 09/07/2011 08:32P
Solar Company Failure Shows Less Federal Aid Works Better: View
In a cringe-worthy failure, California solar-panel maker Solyndra filed for bankruptcy this week, just two years after winning $535 million of federal loan guarantees. Solyndra's rapid rise and fall should have played out entirely in the private sector
Updated: 09/07/2011 08:29P
Lehman wars with Barclays over bonuses
In the latest round of a long legal dispute, Lehman told a hearing in US Bankruptcy Court in Manhattan that Barclays was required to pay $2bn in bonuses to employees it inherited when it acquired its US investment bank and brokerage operations,
Updated: 09/07/2011 08:27P
Owner of Duluth paper mill files bankruptcy
It's not clear what impact the bankruptcy will have on the Duluth mill, which had about 250 workers in 2010. Ohio-based NewPage Corp., which owns the West Duluth paper mill and is the largest North American maker of coated papers, filed for bankruptcy
Updated: 09/07/2011 08:19P
Landmark Lynchburg library building up for auction next week
The California man who owns the Rivermont Avenue landmark also has changed his bankruptcy status, potentially leaving the future of other local properties up in the air. The auction will take place at 10 am Tuesday at the library's main entrance,
Updated: 09/07/2011 08:14P
Largest paper manufacturer in North America filing for bankruptcy
“It's pretty much it's the lifeblood of our town," said Rumford town manager Carlo Puiia, who says New Page pays $5.5 million a year in taxes, nearly half of the town's tax base. So, hearing that the mill's owners can't pay their debts and have filed
Updated: 09/07/2011 08:10P
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