January 3, 2001  

Daily Bankruptcy News

Brought to you by BKINFORMATION.COM - The Source for Business Bankruptcy Information on the Internet AND BKCLAIMS Marketplace - The Online Market For Bankruptcy Claims 

Also available on the Web (with links to the news stories)  at:  http://bkinformation.com/News/DailyNews.htm


Retailer Shakeout Seen Extending Into 2001

Dec. Sales May Disappoint Retailers



Rating agencies predict spike in corporate debt defaults

U.S. Corporate-Credit Quality Tumbled in 2000

Credit card delinquencies, losses to rise in '01 -S&P

Slump in U.S. manufacturing deepened in December


Power Utilities:

Utility PG&E Says It May Run Out of Cash Later This Month

FERC says cost-based rates would exacerbate Calif. power crisis

California Reportedly on Verge of Approving Short-Term Rate Increase

Public Utilities Comm. Is Expected to OK Electric Rate Hike

FERC to respond to Southern California Edison lawsuit

Learn from Calif. mistake

Calif. power woes hurt all of PG&E and Edison Intl., including unregulated subsidiaries

Calif. Biomass Plants See Own Crisis


Movie Theater Industry:

United Artists Theatre Circuit, Inc. Delays Rent Payment On 1995 Leveraged Lease Transaction

Edwards Theatres Files Motion to Assume Entertainment Properties Trust Leases



Auto supplier, Federal Mogul, finances asbestos claims


Steel Industry:

Wheeling-Pittsburgh Steel President Criticizes Loan Guarantee to Chinese Steel Maker 

Steel OK, retiree leader says


  Legend Air:

Legend Air returns

Dallas-Based Legend Airlines Clears Another Hurdle

Group stands to gain 35% of Legend


Bankruptcy Reform:

Wait For Right Bankruptcy Bill


Outboard Marine Navigates Choppy Waters

Pacific Gateway:

Disaster Of The Day: Pacific Gateway Exchange

Pacific Gateway stock halted pending 'additional information'



LTV Retirees Worry About Pensions

Focus On The Forbes 500s: LTV

LTV's Hoyt Lakes plant may close this week

LTV Closings Would Add to Youngstown, Ohio, Woes

NYSE says moving to delist LTV

Layoffs May Be On Way At LTV Steel



Dot.com deaths

Crime news site loses top talent over pay concerns

As the technology bubble bursts, tech speak is getting an ironic tweak as Internet workers and investors turn to humor to cushion the fall

Famine Strikes Foodline.com As Company Files For Bankruptcy

LetsBuyIt Drops Over 50 Pct As Firm Seeks Savior

Pets.com to Hold Special Meeting to Seek Stockholder Approval of Plan of Complete Liquidation and Dissolution of the Company and Change of Corporate Name

News Corp. Backpedals From WebMD Deal

Letsbuyit.com -- Good Idea, Bad Market




New Bankruptcy Opinions
(No new opinions today)


Hyundai Engineering Will Slash 28% of Work Force



Italy's Banca Novara to sue PricewaterhouseCoopers over alleged 100 billion lira accounting error



Doom, gloom gather over nation's economy


Plainwell Inc Gets Court OK For $55 Million DIP Financing

Trucking Firm Intrenet to Halt Operations

Vlasic May Have to Opt for Bankruptcy

Caremark Rx says to record $70 mln charge in Q4 due to KPC Medical bankruptcy

Apple partner falls from the tree, a victim of Apple's declining sales

Pillsbury Madison & Sutro and Winthrop, Stimson, Putnam & Roberts Complete Merger

Restructuring. . .

Bayou Steel makes deep cuts in survival bid

Covad Slashes Another 400 Jobs

Pegasystems slashes 75 jobs as 4th qtr revenues fall

Viador says to lay off staff, take Q4 charge

Jacobson Resonance Enterprises, Inc. Approves Corporate Restructure


Imperial Home Decor Group Inc. Closes Plant to Optimize Global Manufacturing

PBGC Takes Over Defunct Grand Union Pensions

Veritas hopes to scavenge bankrupt Stellex

Shares of Credit-Card Firms Hurt by Profit-Taking, Economic Concerns


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