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Merkel coalition talks Greek default
A top Merkel aide signaled the chancellor's support for the leaders of her two centre-right coalition partners, after they spoke publicly on the option of Greece departing from the currency bloc, or carrying out an orderly bankruptcy.
Updated: 09/13/2011 10:37P
GE to Buy Back $3.3 Billion Buffett Stake Next Month
The shares, callable after three years at a 10 percent premium, helped Chief Executive Officer Jeffrey Immelt raise another $12 billion from public markets two weeks after Lehman Brothers Holdings Inc. filed for bankruptcy.
Updated: 09/13/2011 10:33P
Bankruptcy a No-go for Associated Grocers of Maine
A federal bankruptcy judge's ruling could mean no money for hundreds of creditors, including former employees of the Associated Grocers of Maine. Judge Louis Kornreich ruled the receiver that oversaw the dismantling of the cooperative didn't have the
Updated: 09/13/2011 10:30P
Drabinsky, Gottlieb finally jailed
As a result, Drabinsky and Livent Inc. co-founder Myron Gottlieb each convicted in 2009 on two counts of fraud found themselves in prison for the first time since their company, once the toast of the Canadian theatre scene, collapsed in bankruptcy in
Updated: 09/13/2011 10:24P
Scott's REIT says it supports plan to put Priszm into bankruptcy receivership
By The Canadian Press | September 13, 2011 TORONTO - Scott's Real Estate Investment Trust (TSX:SRQ.UN) says it supports a motion to transfer the court-supervised restructuring of Priszm Income Fund to the Bankruptcy and Insolvency Act. Canada's largest
Updated: 09/13/2011 10:15P
Expect more FairPoint cuts?
Even as FairPoint Communications prepares to cut 190 jobs in New Hampshire as part of a 10 percent work force reduction, the changing face of the telephone industry means it is likely to ax more positions in the future. “The work force that they came
Updated: 09/13/2011 10:09P
Number of college grads going bankrupt jumps
A new study by the Institute for Financial Literacy finds that bankruptcy is on the rise among college grads. Over the past five years the rate of college graduates filing for bankruptcy increased by 20 percent. The study involved more than 50000
Updated: 09/13/2011 10:05P
Lehman Three Years Later – OpEd
As we prepare to celebrate the third anniversary of the Lehman bankruptcy and the ensuing financial crisis, it's a good time to assess the situation and ask what has changed. The answer is not encouraging. Very little has changed about either the
Updated: 09/13/2011 09:54P
German leader downplays chance of default by Greece
Merkel rejected the notion that a Greek bankruptcy, a possibility raised a day earlier by her deputy that spooked markets, would provide a quick solution to the eurozone debt crisis. She argued that, instead, Europe needs to stick to its efforts to cut
Updated: 09/13/2011 09:52P
Solyndra represents stimulus failure
The House Energy and Commerce oversight subcommittee Wednesday begins its investigation of Solyndra, the stimulus-funded solar energy company that recently declared bankruptcy. The company, which laid off 1100 workers after its sudden demise,
Updated: 09/13/2011 09:48P
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