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SP Newsprint files for Chapter 11 protection
SP Newsprint Holdings LLC on Tuesday filed for Chapter 11 bankruptcy protection, citing weak economic conditions and high raw materials prices. The privately held operator of paper mills in Dublin, Ga., and Newberg, Ore., said in a news release that it
Updated: 11/15/2011 04:29P
NATION: Post office near default? Losses mount to $5.1B
Losses will only accelerate in the coming year, Postmaster General Patrick Donahoe warned, citing faster-than-expected declines in first-class mail. He implored Congress to take swift, wide-ranging action to stabilize the ailing agency's finances as it
Updated: 11/15/2011 04:26P
MF Global Commodity Customers Seek to Form Official Panel
Five customers said in papers filed today in US Bankruptcy Court in Manhattan that they want to steer an ad-hoc group of commodity customers and have the committee's fees reimbursed by the estate. The trustee assigned to oversee the brokerage's
Updated: 11/15/2011 04:25P
US Postal Service loses $5.1 billion, could face default this week as
Losses will only accelerate in the coming year, Postmaster General Patrick Donahoe warned, citing faster-than-expected declines in first-class mail. He implored Congress to take swift, wide-ranging action to stabilize the ailing agency's finances as it
Updated: 11/15/2011 04:24P
US Postal Service Loses Less-Than-Expected $5 Billion On Weak Economy
Losses will only accelerate in the coming year, Postmaster General Patrick Donahoe warned, citing faster-than-expected declines in first-class mail. He implored Congress to take swift, wide-ranging action to stabilize the ailing agency's finances as it
Updated: 11/15/2011 04:24P
JeffCo talks cutting election funds
The Jefferson County Commission is mulling its first round of cutbacks since filing the nation's largest governmental bankruptcy last week. In committee on Tuesday, commissioners discussed cutting up to $880000 from its budget for the March 2012
Updated: 11/15/2011 04:12P
Debts in France threaten top credit rating
Analysts said the overall health of the French economy ranked only one place above Italy, and below several countries often mentioned as being near to bankruptcy, including Spain and Ireland. The report by the Brussels-based thinktank the Lisbon
Updated: 11/15/2011 04:04P
AMR Shares Sink on Concerns about Labor Contract with Pilots
Many analysts believe that the Fort Worth, Texas-based airline will have to file for bankruptcy if its labor costs continue to remain high. AMR, in fact, was the only major US airline that did not file for bankruptcy a few years ago.
Updated: 11/15/2011 03:54P
Moo & Oink Beefs Up Auction Block
Well, according to the bankruptcy court, it'll be on the auction block next month. Bidders will be able to vie for famous Chicago grocer and butcher Moo & Oink at a Dec. 14 auction, NBC Chicago reported. Creditors successfully forced the four-store
Updated: 11/15/2011 03:54P
MF Global Trustee Asks Judge to Permit Speedy Claim Process
Some said they need their collateral to run their businesses; others say they use their commodity accounts to pay their living expenses, according to some letters received by Bloomberg News. “The initiation of the claims process does not prevent the
Updated: 11/15/2011 03:52P
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