Spreading the truth. Empowering the people.
The fate of the A380 is sealed. By MC01, a frequent commenter, for WOLF STREET: On February 5, German low-cost carrier Germania announced it has filed for insolvency in Berlin and that all … Read more
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Brick-and-Mortar Meltdown for its new shareholders: All of them PE Firms. By store count, this is likely the largest retailer liquidation in the US: Payless ShoeSource … Read more
via Reuters: U.S. discount retailer Payless ShoeSource Inc plans to close all of its approximately 2,300 stores when it files for bankruptcy later this month for the second time in as … Read more
Financial writer Bill Holter and renowned gold and financial expert Jim Sinclair say the financial crash is here now. Holter says, “I think President Trump is going to preside over … Read more
Road To Roota, Released on 1/29/19 With $60B-$80B in potential claims against PG&E in their Chapter 11 filing why isn’t anybody talking about the $600B-$800B in notional DERIVATIVES that were … Read more
But traffic is up, and these are still the good times. By MC01, a frequent commenter, for WOLF STREET: Ryanair lowered its 2018 profit guidance from a range between €1.1 billion and €1.2 … Read more
Countless people are on the brink of bankruptcy. Most don’t even realize it. Bills are getting paid. Credit cards still have some balance remaining. Everything is just fine, right? Not … Read more
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Here’s how a soon-to-be bankrupt company that’ll default on all its debts can still borrow $5.5 billion. PG&E, the largest gas and electric utility in California, … Read more
NEW YORK (Reuters) – Sears Holdings Corp Chairman Eddie Lampert prevailed in a bankruptcy auction for the U.S. department store chain with an improved takeover bid of roughly $5.2 billion, … Read more
via MarketWatch: PG&E’s bankruptcy would result in a default of $17 billion of its bonds If Pacific Gas & Electric Co. follows through with its bankruptcy announcement, the country’s … Read more
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter California’s rate payers & taxpayers likely on the hook, as we know from PG&E’s first bankruptcy in 2001. “PG&E remains committed to providing safe natural gas … Read more
via Bloomberg: PG&E Corp., the California utility giant facing billions of dollars in wildfire liabilities, may notify employees as soon as Monday that it’s preparing a potential bankruptcy filing, according … Read more
via kitco: “Bankruptcy happens gradually, then suddenly,” Ernest Hemingway All signs point in the same direction. We are heading toward another financial crisis and, this time, it will likely be much … Read more
via bizjournals: Shopko intends to close an additional six department stores this year on top of the 39 announced late last year. The retailer, which has its headquarters in Ashwaubenon, said … Read more
Jan. 7, 2019– Mary Greeley News – (Reuters) – Chalk it up to years of corporate disconnection from reality, but Pacific Gas & Electric (PG&E) is reportedly now facing bankruptcy … Read more
via thefederalist: Although it may be near declaring bankruptcy, Scouting’s problems go beyond the financial, deep into the problems with America’s civil culture today. What’s left of the Boy Scouts of … Read more