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Trustee: Attorney will never repay $73 million
AP MYRTLE BEACH, SC — The trustee in charge of a Myrtle Beach attorney's personal bankruptcy is asking a judge to convert the case to a straight liquidation because he says his client will never be able to pay off almost $73 million he owes to
Updated: 09/18/2011 11:19A
Obama aides reworked Solyndra loan to favor donors
Administration officials defended the loan restructuring, saying that without an infusion of cash earlier this year, solar panel maker Solyndra Inc. would likely have faced immediate bankruptcy, putting more than 1000 people out of work.
Updated: 09/18/2011 10:47A
6500 General Motors employees in Genesee County await details on GM, union deal
The first labor pact since bankruptcy and government bailouts for the recovering automaker includes $5000 signing bonuses, the possibility of sweeter profit-sharing checks and guarantees of more union jobs as part of a new four-year contract with GM,
Updated: 09/18/2011 09:35A
Our Daily Saab: Could be Done By Tuesday
But it predicts: “If the Court of Appeals does not grant a reconstruction will the trade union IF Metall most likely call for bankruptcy on Tuesday afternoon.” In the meantime, other bankruptcy petitions are piling up.
Updated: 09/18/2011 09:09A
GM And The UAW: Sanity, At Last
GM's (NYSE: GM) bankruptcy was cause by three things, and one of those was labor costs. The car company and the UAW have set a reasonable agreement as they finish contract negotiations and it may be the first sane one in decades.
Updated: 09/18/2011 08:54A
Ready for takeoff again: Under new owner, aircraft refurbisher regroups
Jobs at Alabama Aircraft -- earlier called Pemco Aeroplex and Hayes Aircraft -- were lifetime gigs for many people, with wages in recent years of almost $20 an hour. Now, only three military planes occupy the vast hangars, tended to by teams of a few
Updated: 09/18/2011 08:47A
Editorial: Recent solar eclipses
Evergreen Solar, which closed its Massachusetts factory in March and laid off 800 workers after receiving tens of millions of dollars in state loans and grants, filed for bankruptcy, as has New York-based SpectraWatt, which was loaned $90 million by
Updated: 09/18/2011 08:09A
Scam Watch: Mortgage rescue, payday loans, real estate
Mortgage rescue –- A federal grand jury in Tucson has indicted two people on federal criminal charges related to a foreclosure rescue scheme in which they persuaded people to pay $500 fees to avoid foreclosure, but then made false bankruptcy filings in
Updated: 09/18/2011 07:14A
NJ medical marijuana center official booted over ties to con man Solomon Dwek
To New Jersey's most famous con man, he's "Uncle Kenny," a family insider who shared the spoils of elaborate Ponzi schemes, according to federal bankruptcy filings. But Kenneth Cayre, a wealthy Monmouth County entrepreneur, was set to become an
Updated: 09/18/2011 07:09A
8 Credit Score Myths Debunked
Myth #3: A bankruptcy will haunt my score forever. While most negative information must be removed from your credit report after seven years, the Fair Credit Reporting Act allows bankruptcy to be listed on your credit report for up to ten years.
Updated: 09/18/2011 06:52A
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