via: cnn.com NEW YORK (CNNMoney) — Eastman Kodak, the once mighty icon of the photography industry, filed for Chapter 11 bankruptcy protection Thursday. Kodak’s (EK, Fortune 500) stock plunged 35% at the start of trading. The New York Stock Exchange suspended trading within a few minutes after the opening bell. Read More
NEW YORK (CNNMoney) — American Airlines, one of the few major U.S. airlines to avoid bankruptcy, finally succumbed Tuesday and filed for chapter 11. Corporate parent AMR also filed, and said that American, American Eagle and all other subsidiaries will honor all tickets and reservations and operate normal flight schedules during the bankruptcy filing process, using […]
Default notices, which typically initiate the foreclosure process, surged more than 33% from July. Foreclosure auctions and bank repossessions, which come later in the process, both fell slightly. The increase in default notices may signal that lenders are starting to finally push through foreclosure paperwork that was previously delayed by the “robo-signing” controversy last fall… […]
According to CNNMoney, home prices are being devastated by a three-year inventory of homes in foreclosure for sale. In many cities homes are discounted an average of 35%. In Nevada, for example, 53% of all the homes sold are in some stage of foreclosure, according to a report from RealtyTrac, the online marketer of foreclosed […]
Crystal Cathedral Ministries, the Southern California megachurch founded by television evangelist Robert Schuller, filed for bankruptcy court protection from its creditors, which are owed as much as $100 million. Read More:
The bankruptcy statistics in America are alarming. The past few decades have seen a dramatic rise in the number of people who are unable to pay off their debts, and Congress has addressed the issue with legislation that makes it (somewhat) harder to qualify for this status. read more:
Back in December The Detroit News reported 53-year-old comedian/actor Sinbad was having trouble with his finances and owed more than $8.15 million in delinquent federal taxes. According to the blog, the U.S. Attorney General's office was seeking the sale of his plush California pad to settle up some of the massive debt. Well, looks like they got their wish.
She might have a Russian billionaire for a boyfriend, but buzzing around the net is that supermodel Naomi Campbell is going broke. We hope this is just a rumor!! Details inside!
