It will take a few more months of legal maneuvering before American finally throws in the towel and agrees to a US Airways merger. American executives and directors will no doubt have to be bought off with golden parachutes, while trade creditors such as Hewlett-Packard and Boeing will likely be brought on board with promises […]
Peter Dorman at Econospeak comments: Bankrupt Rhetoric I woke up this morning to Paul Ryan, describing his budget proposal, as quoted in the New York Times: “This is about putting an end to empty promises from a bankrupt government.” Bankrupt government? Let’s consider this more closely. The normal meaning of bankrupt is negative net worth, […]
by Daniel Becker I posted in 7/2009 on the issue of fixing our healthcare system based on the Massachusetts model. The first was Massachusetts is fixing the fixed healthcare system. The second was a followup to the first: Fixing the fixing. Healthcare Deja vu. The issue was that we are dancing around. All the proposals […]
The NYT has a story on what look to be ‘ruthless’ bankruptcies in store for companies who sought or were forced to take too much leveraged debt: American companies currently have more than $1.7 trillion in S.&P.-rated bonds and loans maturing from 2011 to 2014. The total debt load coming due will climb steadily over […]
First, you hear the high heels. These are not the pretty heels of Ginger Rogers, floating in ostrich plumes for some impromptu dance across a marble floor. No no, these are the no-nonsense high heels whose rhythmic ticktock, louder and louder, signify the approach of authority – firm, fair and with eyes that see through […]
From Lenny Dyksytra’s letter to friends about his bankruptcy filing yesterday: William McKinley filed for protection while serving as Ohio’s governor in 1893. He was in debt to the tune of $130,000 (an insurmountable sum in those days!) before some friends eventually helped to bail him out. Three years later, he occupied a desk in […]
Another dual-bankruptcy female with real estate problems. Wonder what the difference will be?