For investors there is little clarity through the smoke and haze. By Leonard Hyman and Bill Tilles for WOLF STREET: The common shares of Pacific Gas & Electric [PCG] plunged nearly 22% to $25.59 on Wednesday and are now down 47% since November …
by Duane Norman, Free Market Shooter In 2015, the city of Chicago expanded its “Amusement Tax” in an effort to combat the city’s massive budget deficits. The tax, which originally applied to concert tickets and other entertainment events, was expanded to target …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter It may be that moral bankruptcy is one of the quickest preludes to Chapter 11. Wolf here: On August 6, about two months before Mattress Firm filed for Chapter 11 bankruptcy, I published my expose: “Mattress Firm …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter The hail of two-notch downgrades doesn’t help. Wolf here: Shares of General Electric [GE] are down over 3% this beautiful Friday morning, trading at $9.20. If they close at this level, they would mark a new …
by John Rubino The “public pension crisis” is the kind of subject that’s easy to over-analyze, in part because there are so many different examples of bad behavior out there and in part because the aggregate damage these entities will …
https://www.youtube.com/watch?v=85JVS6n_QvI https://www.nytimes.com/2018/08/05/business/bankruptcy-older-americans.html … medical bills … mortgage … their CHILDREN’S COLLEGE LOANS! … AC
by COMPUTER1313 https://www.wsj.com/articles/sears-hires-advisers-to-prepare-bankruptcy-filing-1539136189 https://www.cnbc.com/2018/10/10/sears-reportedly-preparing-for-bankruptcy-filing-as-soon-as-this-week.html Sears, which has been losing money for years, has $134 million in debt due on Monday. Edward Lampert, the hedge-fund manager who is Sears’s chairman, chief executive, largest shareholder and biggest creditor, could rescue the company, …
Mattress Firm, which has been grappling with declining sales following an overexpansion and a scandal at its parent company, filed for Chapter 11 bankruptcy protection Friday. The nation’s largest mattress retailer has been ailing amid a surge of bed-in-a-box online retailers, too …
via sacbee: MIAMI Janet Burke, 71, opens the door of her Hollywood apartment with a smile. That’s how she greets Britt Weatherhead every Friday when he delivers a box of food that will keep hunger away. Cheese, milk, bread and fruit …
by Dennis Miller A New York Times (NYT) headline blared, “Too Little Too Late’: Bankruptcy Booms Among Older Americans”. They reference a Consumer Bankruptcy Project (CBP) study, “Graying of U.S. Bankruptcy: Fallout from Life in a Risk Society”: “For a rapidly growing share …
by Dennis Miller Millions of baby boomers and seniors are now discovering their retirement nest egg is not delivering like they anticipated. Unless you have a well-funded pension, your income projections are not being met. Why? Was there a mistake in …
by Michael Snyder America, you officially have a debt problem, and I am not just talking about the national debt. Consumer bankruptcies are surging, corporate debt has doubled since the last financial crisis, state and local government debt loads have never …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter This is so thick it’s hard to believe. It’s far beyond just a Brick & Mortar Meltdown. “I recently sold a small strip center with my last Mattress Firm,” a relieved real estate developer told me …
via NYT: For a rapidly growing share of older Americans, traditional ideas about life in retirement are being upended by a dismal reality: bankruptcy. The signs of potential trouble — vanishing pensions, soaring medical expenses, inadequate savings — have been …
by Martin Armstrong The the first debt bankruptcy of a major corporation in China has now taken place here on schedule in 2018. This first bankruptcy of a major corporation was due to over-indebtedness which occurred in the current year. The South …
Deutsche Bank (DB) is signaling big troubles again. Its share price is hitting record lows again and is off by more than 40% this year alone. DB is one of the biggest banks in the world and is designated the …
UK might accept a watered down BREXIT agreement, we will see how this plays out. Consumer prices surge, we are now seeing the beginning stages of inflation. Auto lenders are becoming desperate, sales are declining and they need a way …
BY JARED DILLIAN Everyone knows that Toys “R” Us went bankrupt. Very sad. And largely preventable. But that’s not the story I’m interested in. I don’t care that Toys “R” Us went bankrupt—I care how they went bankrupt. One day the bonds were …
The bubble popping in 2000 (it was not 2001) was a lot like an avalanche. It wasn’t clear exactly which snowflake was the one that put it over the tipping point, but once confidence was lost, it went very quickly. …
From CNN Money: General Electric is still haunted by its disastrous adventure in subprime mortgage lending more than a decade ago. GE shut down WMC, its mortgage business, in 2007 after the market for lending to risky borrowers collapsed. But the …
by: Clint Siegner, Money Metals News Service The federal government just racked up its largest ever quarterly deficit at $488 billion, and nobody is talking about it. Of course they aren’t. The federal government has been running deficits nearly every …
Looks like Petsmart is going to go bankrupt. Over 8 BILLION in debt! “The nation’s leading pet supplier has to figure out how to pay $8.1 billion in bond and loan maturities even as its sales and margins are shrinking. …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Compared to Chicago, which is traipsing that way. Wolf here: This is what happens to the economy of a city when some debts are lifted off its back. It can breathe again. But affected municipal bondholders, …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter “I wish I’d torn that ticket up.” Wolf here: The other day, I wrote about the $73 billion in Voluntary Taxes that Consumers Pay Eagerly and with Great Excitement. That $73 billion were the lottery revenues in …
There are a lot of people are under a lot of stress because of the debt they have taken. They want to get rid of it but are unable to find a way out. Well, if that is the case …
by Simon Black Nearly 4,000 years ago in the mid 18th century BC, the King of Babylon passed away, leaving the throne to his 18-year old son Hammurabi. Hammurabi was smart enough to know that his kingship would be incredibly short …
by Dr. Eowyn The screws are tightening. Among the array of tools deployed by gun control advocates is an indirect method of attaining gun control via putting gun manufacturers out of business. Reuters reports that yesterday, March 25, 2018, Remington Outdoor …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter On Sunday, storied gun maker Remington Outdoor Co. filed for Chapter 11 bankruptcy, buckling under its debts. Its intention to file for bankruptcy has been known at least since February, but sources told The Wall Street Journalthat …
by Simon Black Just a few days ago, shareholders of Tesla approved an almost comical pay package for their cult leader CEO Elon Musk that could potentially put $50 BILLION in his pocket over the next decade. Let’s put this figure in perspective: …
by Bill Bonner Bankruptcy Express Meanwhile… Yesterday, we described how the U.S. government has changed over the last three decades. Now, neither party is worried about deficits… or the U.S. federal debt, which hit a new milestone last week, at $21 …