The Enron Bankruptcy
The Enron bankruptcy was one of the most controversial corporate bankruptcies in the history on the U.S. Not only was it the largest Chapter 11 bankruptcy of all time (which has since been surpassed by both Worldcom and Lehman Brothers) by clocking in with $63.4 billion in assets but the company’s downfall was due to […]
Hospitals Continue to Face Bankruptcy
A bad economy affects everyone; small businesses, large businesses, government jobs, government funded programs, everyone. Hospitals are no different. While many people look at hospitals as a public safeguard for our health, many people forget that hospitals are businesses too. And while all businesses need to at least break even to continue operating, a recent […]
Central Falls Declares Bankruptcy
As the recession rages on, bankruptcies are becoming more common than retirement funds. While personal bankruptcies can set a family back financially, imagine the setbacks an entire city would face. The small town of Central Falls, Rhode Island, is facing that very question now, as it has promised almost $80 million in retirement benefits to […]
Famous Corporate Bankruptcies
As both consumer and business bankruptcies continue to flood our economy, it’s no wonder that our recession has been a long and drawn out one. Corporate bankruptcies always seem to be the most shocking, as Americans tend to think that large companies are invulnerable to the financial struggles of small business owners and consumers. Some […]
LA Dodgers File for Bankruptcy
The current recession has taken its toll on many families and businesses, forcing thousands to file for bankruptcy. Why, then is it so surprising that a professional baseball team could find itself in a similar financial crisis? Many people were shocked to find that the Los Angeles Dodgers are entering a Chapter 11 bankruptcy as […]