GeoFeed helps you identify
"geographical references" from all
types of content.
Bankruptcy News - Bankruptcy News Headlines | Bizjournals.com (GeoFeed.net)
Tue, 14 Oct 2008 07:10:06 +0100
Oregon Convention Center renewal funds application deadline nears
Geographical References: Oregon
The Portland Development Commission has set a deadline for project applications within the Convention Center Urban Renewal area.
Vicorp gains $7M in financing
Vicorp Restaurants Inc. will receive a $7 million infusion of capital to carry the company through the holidays.
California foreclosures fall dramatically
Geographical References: California
ForeclosureRadar, a daily tracker of residential real estate, on Monday reported a steep decrease in the number of foreclosure filings in September and suggested that new regulations in California designed to give homeowners more warning when a foreclosure is imminent may be behind the decrease.
State foreclosures fall dramatically
Geographical References: California
ForeclosureRadar, a daily tracker of residential real estate, on Monday reported a steep decrease in the number of foreclosure filings in September and suggested that new regulations in California designed to give homeowners more warning when a foreclosure is imminent may be behind the decrease.
Some state stocks soar on market?s record-breaking day
Geographical References: Washington
Washington state stocks shared in Monday’s huge equities rally, which saw the Dow Jones industrial average gain 946 points, or 9 percent, to close near 9398. Here are some of the stocks that gained: (EPAX) (COLB) (CTBK) (DSCM) (ESC) (ISLN) (KTEC) (MRNA) (MVIS) (STSA) (ZUMZ)
CEOs from WaMu, AIG, other troubled companies maintained rosy outlook as losses mounted
In the months leading to Wall Street’s monumental shakeup, many CEOs downplayed their companies’ status, often citing “economic conditions” for dismal quarterly performances, only to become central players in the economic upheaval.
Frontier pilots extend wage concessions
The Frontier Airline Pilots Association, which represents roughly 600 pilots, agreed to extend wage-concession agreements Monday, giving the low-cost carrier more time to reorganize contracts under Chapter 11 bankruptcy protection, according to court documents.
Panda Ethanol restructures loan agreements
Geographical References: Texas / Energy, Texas / Hereford, Texas
Alternative energy producer Panda Ethanol Inc. says it has restructured the financing of its Hereford ethanol plant, clearing the way for $31.5 million in additional funds to continue construction on the plant, located in the Texas Panhandle.
Court filings outline demise of Citi-Wachovia deal
The gone-sour deal to sell Wachovia Corp.’s banking operations to Citigroup Inc. began with a 5 a.m. phone call Wachovia’s Bob Steel made to Citigroup’s Vikram Pandit on Sept. 26. (C) (WB) (WFC)
Fla.'s Brown & Brown buys Phillips' agency
Geographical References: Florida
A Florida company has purchased Al Phillips Insurance Agency Inc. in Nashville. (BRO)
Bankrupt builder?s site sells for $3.5M
Dewan Properties LLC bought 122.6 acres of vacant land in northwest Osceola County for $3.5 million.
Petters Co. Inc., Petters Group Worldwide file Chap. 11
Petters Co. Inc. and Petters Group Worldwide, the companies built by the man at the center of a multi-billion fraud investigation, have filed for Chapter 11 bankruptcy protection.
CBU completes $12M science center expansion
Construction on Christian Brothers University’s Cooper-Wilson Center for Life Sciences and the Assisi Hall Science Learning Center is complete, and a ribbon cutting and blessing is scheduled for Oct. 28 at 5 p.m.
Texas losing employer-based health insurance faster than national average
Geographical References: Texas
Over the past six years, Texas workers have lost employer-sponsored health insurance coverage at a rate greater than the national average, according to a new report.
Andrews takes helm at Shell Trading
Shell Trading (US) Co. has named Ron Andrews president.
Linens ?n Things shutters Symmes and Sycamore stores
Bankrupt home decor and housewares chain Linens ’n Things is closing its Sycamore Township and Symmes Township locations as its parent company seeks a bidder, but it is likely the entire chain will be liquidated.
Court filings outline demise of Citi-Wachovia deal
The gone-sour deal to sell Wachovia Corp.’s banking operations to Citigroup Inc. began with a 5 a.m. phone call Wachovia’s Bob Steel made to Citigroup’s Vikram Pandit on Sept. 26. (C) (WB) (WFC)
Court filings outline demise of Citi-Wachovia deal
The gone-sour deal to sell Wachovia Corp.’s banking operations to Citigroup Inc. began with a 5 a.m. phone call Wachovia’s Bob Steel made to Citigroup’s Vikram Pandit on Sept. 26. (C) (WB) (WFC)
Court filings outline demise of Citi-Wachovia deal
The gone-sour deal to sell Wachovia Corp.’s banking operations to Citigroup Inc. began with a 5 a.m. phone call Wachovia’s Bob Steel made to Citigroup’s Vikram Pandit on Sept. 26. (C) (WB) (WFC)
Court filings outline demise of Citi-Wachovia deal
The gone-sour deal to sell Wachovia Corp.’s banking operations to Citigroup Inc. began with a 5 a.m. phone call Wachovia’s Bob Steel made to Citigroup’s Vikram Pandit on Sept. 26. (C) (WB) (WFC)
Mental health center to expand in Lebanon
Despite diminishing mental health hospitals statewide, a Lebanon health center is expanding its operations. The Mental Health & Recovery Center of Clinton County is relocating its Warren County operations from several offices to a 24,000 square-foot campus in Lebanon.
Investment partnership buys Crowne Plaza Hotel for $6.1M
Geographical References: Washington
The Crowne Plaza Hotel, the second-largest hotel in Dayton, has a new owner. Cedar Hollows Partnership sold the 283-room, downtown hotel last month to Washington, D.C.-based CWCapital for $6.1 million.
Seattle tech comapny Marchex paid by an ex-employee
Nearly three months after accusing two former employees in federal court of running deceptive and competing websites, Seattle tech company Marchex Inc. says that one of the pair has paid back the company.
Local investor group says deal pipeline still flowing
Credit crunch aside, two Tri-State companies have picked up badly needed investment capital in recent weeks from angel investor group Queen City Angels.
Cabela?s superstore in Lacey bumps up revenue for neighbors
Glenn Vincent used to devote a section of his Lacey bead shop to a “guys’ room,” complete with couches and sports television for bored husbands.
CNG founder wants court to give him access to records
CNG Financial Corp. is facing up to $46 million in new federal income tax liabilities because of the way it handled stock transactions in 2000 and 2002, attorneys for company founder Allen Davis argued in an Oct. 8 court hearing.
Future of The Park tower after a sale is up in the air
The court-appointed trustee handling the bankrupt Park condo tower is pushing for a quick private sale of the unfinished uptown building.
Bank forces Brooke founder to sell his holdings
Robert Orr, founder of Brooke Corp. and its subsidiaries, has virtually no more connection to the companies.
Bankruptcy squeezes retailer?s vendors
Geographical References: California
Last spring, around the time Hilo Hattie was sold by its founder to a group of California investors, the company asked many of its vendors if it could put its past due bills on a payment plan that stretched out for as long as four years.
Hospitals want to shrink as losses grow
Geographical References: Hawaii
The two troubled Hawaii Medical Center hospitals have been losing more than $1 million a month and will likely reduce the size of their operations by more than half to stay in business.
Mullinax finally nabs $3.1M to buy Kissimmee dealership
Just how tight is the credit market right now?
DayJet?s woes go beyond financing
DayJet Services LLC, the Boca Raton-based regional air taxi pioneer, blamed a lack of financing when it halted operations, but analysts also cite enough entrepreneurial misfortunes, miscalculations and missteps to make a Harvard Business School case study.
A key lesson from JeffCo's sewer saga
Geographical References: Alabama / Reform, Alabama
The need to reform the Alabama Constitution was made abundantly clear this week during the continued wrangling over Jefferson County’s financial woes.
Let's demand better leadership
I love Birmingham, always have and always will. I think it’s a great place to live, but I am frustrated today, like so many others.
Corporate litigation on rise in wake of slowing economy
Although several fields have suffered from decreases in sales and demand for their products during the economic slowdown, that hasn’t been the case for the local legal industry.
Do you foresee the nation's current economic climate creating an increase interest in certain ...
This week’s question:
Law briefs: JeffCo takes a step toward bankruptcy
Committee votes for bankruptcy Jefferson County’s Environmental Services Committee voted this week in favor of filing for Chapter 9 bankruptcy.
FDIC: Regions, Compass gain market share
The big boys are getting even bigger in Birmingham’s banking scene.
Small business owners struggle to find credit
Erin Adams has been well aware of the credit crunch for some time.
Metro's business elite favors McCain by wide margin
Birmingham’s corporate titans have overwhelming thrown their presidential-race financial support to Republican John McCain over Democrat Barack Obama.
Shifting strategies: Law firms adjust with the times to keep work flowing
Christy Myatt has seen a shift in her workload. A bankruptcy attorney and member of the board of directors at Greensboro law firm Nexsen Pruet, she has noticed more frantic phone calls and more desperation in the voices of her clients, many of whom are now builders, developers and other companies looking to avoid bankruptcy.
Credit line expirations force costlier debt terms
Faced with red ink that put it at odds with the terms of its agreement with Wachovia Bank, SRI/Surgical Express Inc. had to shop for a new lender just as the credit market tightened. (STRC) (JBL) (BAC)
Nelson Levine is the beneficiary of three defections from Cozen
Three Cozen O’Connor partners have left the firm and joined Blue Bell’s Nelson Levine de Luca & Horst. Michael Hamilton, Cynthia Bernstiel and John Mullen have joined the firm as partners. Hamilton handles complex insurance coverage matters and class action litigation, Bernstiel investigation and litigation of arson and suspected insurance fraud and Mullen handles cyber-risk, construction and environmental issues.
Fighting credit crisis, one-on-one
When Tiff Worley started Auriton Solutions credit-counseling services in 1991, he presciently included home-mortgage counseling in the company’s offerings. As far as he knows, he was the first such firm in the nation to counsel people on mortgages in addition to traditional consumer debt like credit cards.
Petters scandal might affect dozens of firms
Geographical References: Minnesota
Tom Petters and the multibillion-dollar company he founded have helped bankroll more than a dozen companies in Minnesota and across the country.
Emeryville: Take a lesson from Vallejo
Geographical References: California / Vallejo, California
The Vallejo City Council voted to declare bankruptcy on May 6 after two years of negotiations between the city and its public safety unions failed to produce an agreement. The city of 117,000 was hit hard by existing contracts and dwindling revenue from sales and residential property taxes due to the economic downfall. What followed was that Vallejo became the largest city in California to declare bankruptcy and the only city to ever declare bankruptcy due to long-term economic problems.
Women have had major role in top companies
Atlanta Business Chronicle is celebrating its 30th anniversary in 2008, marking our first edition published June 5, 1978. Each week during the year we will publish a 30th anniversary-related story looking back at people, companies and events that have had the most impact shaping our city and region’s business. (CCE) (DAL) (MMC)
It?s best not to make lemons out of lemonade
Last week, my 16-year-old son came to me with a question I had been dreading for a long time.
Foreclosures push more South Floridians into bankruptcy
Geographical References: Florida
Bankruptcy filings in South Florida are approaching levels not seen since bankruptcy reform legislation was enacted in 2005, as foreclosures push more South Florida homeowners in that direction.
St. Louis County hears ?loud wake-up call?
In mid-September, St. Louis County solicited bids for a routine, short-term loan to hold it over until tax revenues could be collected at the end of the year. County officials didn’t realize at the time how closely they avoided a crisis.
Mike Jones? All-Star Beverage files for bankruptcy
All-Star Beverage LLC, a soft drink distributor owned by former St. Louis Rams linebacker Mike Jones and local businessman John Nicks, has filed for bankruptcy.
Fenton-based Grand Carnival in bankruptcy
Grand Carnival Manufacturing LLC, a Fenton-based company that employs more than 20 people, has filed for bankruptcy protection from creditors it owes more than $1 million.
SCP?s changes have fans buying into Blues hockey
When SCP Worldwide bought the St. Louis Blues in July 2006, its partners knew a difficult task lay ahead.
Condo prices falling in the Edge
Developers at the Edge neighborhood are adjusting condo prices downward in an attempt to sell new units in a sluggish market.
Justice Department opposes destroying Alliance Title escrow files
Geographical References: California
The U.S. Department of Justice is questioning a plan to destroy more than 100,000 boxes of closed escrow files once belonging to Alliance Title Co. that are now stored in facilities across California and Nevada.
Cepheid wins approval of regulators, but not investors
Cepheid has passed two key milestones in recent weeks, but investors and analysts following the company appear unimpressed.
Developer?s police woes spell bad news for Butler
Bank balance sheets don’t always tell the whole story behind their troubled borrowers. (NCC)
Legal fees mounting for Mortgages Ltd.
Legal and consulting fees for Mortgages Ltd. are nearing the $1 million mark — and that doesn’t include charges yet to be filed for September.
Predictions hold up, hindsight is 20/20 for forum participants
The Houston Business Journal’s forum on wealth management — “Orchestrating investments for top performance” — was held in mid-August, several weeks before the nation’s financial problems came to a head. The views of the participants were featured in “The Money Journal” special publication, dated September 19-25, 2008.
DataCert founder looks back to future for next step
Eric Elfman founded DataCert Inc. in 1998 out of a spare bedroom in a rental apartment. By the time he stepped down from his position as CEO last month, the Houston-based legal operations management company had grown into a $22 million firm with 160 employees and 50 consultants worldwide. Although Elfman is still the largest individual shareholder of DataCert, he has turned over day-to-day operations to his former chief operating officer, James Tallman, whom Elfman handpicked six months ago to eventually take over the leadership role.
Kimberly-Clark, Arquest in patent dispute
Diapers and training pants are at issue in a patent dispute between Kimberly-Clark Corp. and a competitor.
Investors sue execs of failed Integrity Bank
Two shareholders of recently failed Integrity Bancshares Inc. have sued the company and its senior executives, alleging management misled investors about the bank holding company’s health throughout 2006 and 2007.
Protecting assets: State offers incentives for long-term care costs
A state initiative designed to cut Medicaid costs can also help Tennesseans hold on to their savings.
Special Thanks to Google for their wonderful mapping api.