NEW YORK — The amusement park company Six Flags is seeking Chapter 11 bankruptcy protection, saying it needs to reorganize and shed $1.8 billion of debt. Mark Shapiro, the New York-based company's chief executive officer, says the move won't affect the ...Read More
The indelible images of ACORN workers helping a faux pimp and prostitute set up a tax shelter for a brothel certainly played into the advocacy group's slide toward bankruptcy, though its problems began long before last year's scandal. The New York ...Read More
(Adds details from the filing and background on recent moves to cut costs, close stores and expand other businesses; updates share price.) Blockbuster Inc. (BBI) again warned it may have to file for bankruptcy protection as the movie-rental giant continues to ...Read More
The conduct of Lehman executives "ranged from serious but non-culpable errors of business judgment to actionable balance sheet manipulation," the report by examiner Anton Valukas says. Valukas, of New York law firm Jenner & Block, was appointed in January of last ...Read More
Centaur LLC said normal operations would continue at Hoosier Park and Fortune Valley Hotel & Casino in Central City, Colo., despite the filing. The Indianapolis-based company said it would also continue work on its planned Valley View Downs & Casino ...Read More
The small community bank, founded in 2000, operated only a single branch with $156.2 million in deposits. It had 34 employees. Failed banks generally are sold to the highest bidder, but the Federal Deposit Insurance Corp. said it could not find ...Read More
Stargate Worlds and Stargate: Resistance developer Cheyenne Mountain Entertainment has suffered the slings and arrows of economic turmoil for months now, leading to a number of unflattering reports about the company's finances. However, it seems the studio is taking ...Read More
LOS ANGELES-Movie fans showed some love for "Valentine's Day," an all-star romance that debuted with record revenues of $63.1 million over the long President's Day weekend. That beat previous record-holder "Ghost Rider," which pulled in $52 million over the four-day holiday ...Read More
Veoh, one of several well-funded start-ups that have tried and failed to cash in on the Web video boom, is finally calling it quits. The company let go of the remainder of its workforce yesterday, and sources say it plans ...Read More
WILSONVILLE, Ore. -- Movie Gallery Inc., owner of struggling movie rental chain Hollywood Video, said Wednesday it will continue to operate while the company is in bankruptcy. Movie Gallery said the bankruptcy court in Virginia has approved the use of cash ...Read More
Deferred revenue from the success of Microsoft’s latest software helped the company post double-digit increases in quarterly revenues and profits. Shares of Microsoft ( MSFT - news - people ) traded down 2.1% to $28.54, in afternoon trading Friday, even though ...Read More
MIAMI (AP) - Newly released government files offer a glimpse into the money troubles that plagued Anna Nicole Smith at the height of her notoriety, ranging from millions in missing jewels to unpaid utility bills. The Department of Justice files that ...Read More
TOKYO - Japan Airlines filed for one of the country's largest bankruptcies ever Tuesday, entering a restructuring that will shrink Asia's top carrier and its presence around the world. Staggering under a $25.6 billion debt mountain, the carrier applied for protection ...Read More
* Bankruptcy filing expected 0800-0830 GMT - sources * JAL bonds trade at equivalent of 28 cents in the dollar * Turnaround plan includes buying/leasing 17 regional jets * Bankruptcy may terminate $440 mln in fuel hedges - source (Recasts, adds hedging details) TOKYO, ...Read More
TOKYO ? Japan Airlines is set to file for bankruptcy Tuesday, writing Japanese history as one of the nation's biggest corporate failures from which it could emerge a leaner, self-sustaining carrier. The country's flagship carrier, called JAL for short, will likely ...Read More
PHOENIX -- Mesa Air Group Inc., whose operations include flying regional routes for major airlines like Delta, United and US Airways, has filed for Chapter 11 bankruptcy protection, hoping to shed financial obligations for leases on airplanes it no longer ...Read More
CIT made the filing in New York Bankruptcy Court after a debt-exchange offer to bondholders failed. CIT said in a statement that its bondholders overwhelmingly opted for a prepackaged reorganization plan that will reduce total debt by $10 billion while ...Read More
NEW YORK (Reuters) - CIT Group Inc's (CIT.N) bankruptcy filing could push at least some small businesses it finances to look for a new lender, but finding new credit will be tough. CIT filed for bankruptcy protection on Sunday, and said ...Read More
Small- and midsize-business financier CIT Group's bankruptcy protection filing Sunday could put most of its clients back into the precarious position the federal government was trying to prevent with its $2.3 billion cash infusion late last year. CIT is the largest ...Read More
CIT Group Inc. plans to file for bankruptcy as soon as Sunday afternoon, said people familiar with the matter, in a high-stakes restructuring intended to keep the doors open at one of the U.S.'s largest small-business lenders. CIT's board was meeting ...Read More
One of the nation's largest commercial-real-estate lenders filed for bankruptcy protection in Delaware, the latest sign that problems in that market are far from over. Capmark has been one of the biggest lenders to the nation's investors and developers of office ...Read More
