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About 600 GM dealerships are getting a second life. Of the 1,160 dealers who appealed orders to shut down as part of bankruptcy proceedings, approximately half will be allowed to stay open. But one dealer tells the Detroit News that it's no cause for celebration until the conditions are made clear, possibly as soon as today. "They could make it cost-prohibitive or they could set conditions like they need 30-year site control of our properties, which is what Chrysler is doing," she said. "It should be as simple as if the dealerships are viable and sustainable, they should be reinstated."
Published on Monday 8th of March 2010 08:20:33 PM
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Posted by admin! / Under Bankruptcy
Bankruptcy filings volume in US is still soaring despite economic recovery signs March 3, 2010 - 4:55am Bankruptcy filings volume in US is still soaring despite economic recovery signs As American Bankruptcy Institute data showed, despite good signs of economic recovery consumer bankruptcy filings surged this month compared to a year earlier figures. Thus the data reflected 14% surge on an year basis. As for the monthly changes, 9% increase from January is represented by 111,693 cases filed last month. And that financial distress is driving more Americans to file for Chapter 7 bankruptcy, which allows a court to discharge...
Published on Monday 8th of March 2010 08:20:33 PM
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Posted by admin! / Under Bankruptcy
For those who follow the blog-o-sphere, there is an all too familiar and disturbing pattern, that many have run into at one time or another. That phenomenon is known as "scrubbing". Information, news stories, web pages, photos and other forms of information simply disappear off the Internet. Scrubbing is a tool used by those who have some interest in hiding information. Sometimes its obviously missing in the form of a broken link. In others, whole sections of archived information can't be found. Indexes referring to chapters remain intact, but the sections it refers to are simply gone. Today we have...
Published on Monday 8th of March 2010 08:20:33 PM
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Posted by admin! / Under Bankruptcy
The other week, while you were watching “American Idol,” Greece went bankrupt. Not all the way, but pretty close. And people have been rioting in the streets. See, the government had been financing things for years on end with debt. The government was taxing and spending, of course, but it was also borrowing. A lot. A staggering amount. So much that the people who do the lending decided they’d had enough. Which left Greece insolvent. Which brought the economy to collapse. Which created a crisis for the European Union and for its currency, the Euro. Which made the world jittery....
Published on Monday 8th of March 2010 08:20:33 PM
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Posted by admin! / Under Bankruptcy
Our debt will soon equal the GDP. How could we possibly pay it off without huge spending cuts? Increasing taxes significantly will not work, I think we all know the harm that will do. Something is going to have to give. This country is endangered by its very own lifestyle of pawning everything off to the future. Well, the future is arriving. I don't think it will hold off for a lot longer. China and other countries are already getting very nervous about buying our debt at the same time we are producing more debt than ever before. Has the...
Published on Monday 8th of March 2010 08:20:33 PM
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