Spreading the truth. Empowering the people.
Because no one does due diligence anymore How did WeWork go from a $47 billion valuation to near bankruptcy in just 6 weeks? t.co/k4Uqsga3UZ pic.twitter.com/5veQ2dNdiU — CNBC (@CNBC) October 3, … Read more
Fashion retailer Forever 21 filed for Chapter 11 bankruptcy protection Sunday after being hobbled by expensive leases, declining mall traffic, digital competition and fashion choices that fell flat. Forever 21 requested … Read more
via pjmedia: The city of Chicago is in dire fiscal and financial straits with an almost billion dollar budget deficit, bonds rated at junk status or below, numerous extremely costly legal … Read more
Purdue Pharma, accused of fostering the US opioid crisis with its drug OxyContin, filed for bankruptcy protection in a New York court, after a tentative settlement deal faced opposition from … Read more
Apparel retailer Forever 21 is preparing to potentially file for bankruptcy, Bloomberg reported Wednesday afternoon, citing people familiar with its plans. The retailer has been exploring restructuring options to shore … Read more
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Cash running low. Brick & mortar meltdown for landlords. Shares annihilated. Ascena Retail Group – which operated 3,519 stores of the brands Dressbarn, Ann Taylor, Loft, … Read more
via MarketWatch: The recent spate of bankruptcies in corporate America is taking its toll. In the first seven months of the year, U.S.-based companies announced 42,937 job cuts due to … Read more
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter In 2013, I called Goldman Sachs a “snake-oil salesman” for underwriting a $1 billion J.C. Penney stock offering. Investors got wiped out. Now the bonds, including … Read more
By Tsvetana Paraskova The world’s fourth-largest oilfield services provider, Weatherford International, said that it had started a financial restructuring by filing for Chapter 11 bankruptcy protection in the U.S. in a bid … Read more
“We have agreed to sell substantially all of our assets,” the company says in a SEC filing Salon Media says they have reached an 11th hour deal to sell the … Read more
by TraderStef via CrushTheStreet (connect with TraderStef via Twitter or at TraderStef’s website) The Big Apple is in a fiscal crisis and facing another potential bankruptcy. Back in 1975, New York City was over $200 million in … Read more
via thenationalsentinel: One area where socialists — sorry, Democratic socialists — lack is in mathematics, and we’re not even talking the complicated stuff like algebra, trigonometry, and geometry. They have trouble with simple … Read more
Josh Sigurdson talks with author and economic analyst John Sneisen about the vast amount of debt in Canada as Canadians are going broke! HALF of Canadians polled claim they are … Read more
by Martin Armstrong They continually try to force socialism upon society so a few can live off of other people’s money. The problem is that capital can flee, as we … Read more
by Jim Quinn Households used the debt to buy new $35,000 SUVs, new 5,000 sq ft $500,000 McMansions, on student loans to get degrees in Transgender Studies and on credit … Read more
via Reuters: It seemed like an opportunity a lender would not want to miss. The loan paid 10.25 percent interest which would go up if a benchmark rose. The borrower … Read more