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US Postal Service losses mount to $5.1B
30 came despite deep cuts of more than 130000 jobs in recent years and the closing of some smaller local post offices. Losses will only accelerate in the coming year, Postmaster General Patrick Donahoe warned, citing faster-than-expected declines in
Updated: 11/15/2011 05:24P
Bond insurers want to keep Jeffco sewer boss in place
The main bond insurers behind Jefferson County bonds want sewer boss John Young to keep control of the sewer system during the county's bankruptcy. In a motion filed in court earlier today, Syncora Bond Insurers said
Updated: 11/15/2011 05:21P
Beacon Power says it may have to liquidate
By RANDALL CHASE AP Business Writer DOVER, Del. -- A Massachusetts company that received a $39 million loan from the Department of Energy before seeking bankruptcy protection says it may have to abandon its reorganization effort and liquidate instead.
Updated: 11/15/2011 05:19P
National Bankruptcy Rate Declines, in Indiana Also
In a recent report, the Administrative Office for the US Courts said that the bankruptcy rate has fallen by 8% between October 1, 2010 and September 30, 2011. Indiana State also saw a drop in bankruptcies year on year for the fiscal year ending
Updated: 11/15/2011 05:17P
In Alabama, sewer woes spur war on water costs
The renovation of that plant years ago is what caused Jefferson County last week to file the largest-ever municipal bankruptcy in US history to settle $3.14 billion of sewer-system debt. The project to upgrade the sewer system, started in the 1990s,
Updated: 11/15/2011 04:43P
Mexicana stays alive a little longer
10 to come up with a plan to get the carrier out of bankruptcy, Univision reported Tuesday. The carrier, which stopped flying in August 2010, had faced a Tuesday deadline to either be rescued or the judge was going to pull the plug.
Updated: 11/15/2011 04:43P
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 04:39P
Post office near default? Losses mount to $5.1 billion
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 04:37P
Beacon Power May Face Bankruptcy Liquidation, Hires Advisers
15 (Bloomberg) -- Beacon Power Corp., an energy- storage company that received $43 million in backing from the US program that supported failed Solyndra LLC, said it may face a Chapter 7 bankruptcy liquidation and has hired advisers to consider a sale.
Updated: 11/15/2011 04:37P
Greece, EU head for bailout showdown
Greek conservatives set themselves on a collision course with the European Commission today, saying they would not bow to "dictates from Brussels" over a bailout designed to save their country from bankruptcy and safeguard the euro.
Updated: 11/15/2011 04:36P
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