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Under pressure
A number of restaurant companies have declared bankruptcy since this summer, including Perkins & Marie Callender's Inc. and Sbarro Inc. At press time, Friendly Ice Cream Corp. reportedly planned to file, as well. A slew of Chapter 11 bankruptcy filings
Updated: 10/06/2011 12:25P
Friendly's bankrupt: Rt. 1 eatery sole NH casualty
The eatery was one of 63 "underperforming" restaurants the company closed as it enters Chapter 11 bankruptcy. A sign posted on the door of the Portsmouth restaurant thanked customers for their patronage, saying, "This restaurant is permanently closed.
Updated: 10/06/2011 12:24P
Judge orders broad mediation in WaMu bankruptcy
WaMu attorneys argued that the insider trading claims were an issue of securities law, not directly related to confirmation of a reorganization plan. After holding a hearing on Thursday, Walrath disagreed. "There's just way too many issues,
Updated: 10/06/2011 12:23P
California's Palm Drive Hospital Questions Management Firm's Performance
Officials at Palm Drive Hospital in Sebastopol, Calif., said its outside management firm did not do enough to offset financial loses even though the firm helped the hospital exit bankruptcy, according to a Press Democrat report.
Updated: 10/06/2011 12:20P
Social Security Personal Accounts Are A Path To Prosperity
I am a graduate of Harvard College and Harvard Law School, and the author most recently of America's Ticking Bankruptcy Bomb (New York: Harper Collins, 2011). I write about new, cutting edge ideas regarding public policy, particularly concerning
Updated: 10/06/2011 12:20P
Hoboken University Medical Center Reaches $10M Settlement With Creditors
The settlement still needs to be approved in a bankruptcy court, but it tentatively puts an end in sight to weeks of negotiations between HUMC and its creditors, who were owed $34 million. Hoboken Mayor Dawn Zimmer said that the Hoboken Municipal
Updated: 10/06/2011 12:19P
Judge Sends WaMu Case Into Mediation
A bankruptcy judge Thursday rebuffed a bid by the remaining piece of Washington Mutual to win confirmation of its twice-rejected plan to exit bankruptcy protection. She instead directed the company into a wide-ranging mediation.
Updated: 10/06/2011 12:17P
Obama defends loan to defunct solar panel company
President Barack Obama said Thursday the US must not surrender development of clean energy to China and other countries, despite the spectacular failure of a solar-panel manufacturer that filed for bankruptcy after taking a half-billion dollar
Updated: 10/06/2011 12:15P
Abound Solar talks DOE loans and why it won't be the next Solyndra
The news of Solyndra firing over 1000 employees, filing bankruptcy after taking a $535 million loan from the government, and losing $1 billion of private investor money, has resulted in nation-wide scrutiny for the American solar industry—especially
Updated: 10/06/2011 12:13P
Nassau seeks Chapter 11, not 7
As predicted, Nassau Broadcasting Partners has asked a US Bankruptcy Court to convert the involuntary Chapter 7 bankruptcy liquidation petition to a chapter 11 proceeding that would allow the radio company to continue operating.
Updated: 10/06/2011 12:08P
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