October 12, 2007

Daily Bankruptcy News

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Law:

Howrey: No Delay to New Associate Pay System
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Not Yet at $160K? Seyfarth It Ain't So!
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West Coast salaries hold steady
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McDermott Will, Dechert Kick Off New London Pay Push
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The Qualcomm Gang of 19
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Internal Email of the Day: Skadden Puts the Big in Big Law
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Companies With Backdating Troubles Are Paying Astronomical Legal Fees
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The Delegation Dance
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In Praise of Humility
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Freshfields incurs bank's wrath
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Lawsuit Says Fish & Richardson Tried to Claim Its Partner's Patent
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Questions raised about beleaguered federal district judge's fairness
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Amusing lawyer bio
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Linklaters hires spur lockstep reform
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Back in Style: The Necktie
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Lawyer's 'Bombast' Gets Verdict Tossed
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Say What?!
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Real Estate:

Warren: What Does a Broker Say?
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So what if we lose money on every deal? We'll make it up on volume
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Countrywide Is Assailed in Protest of Policies
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Moody's cuts Centex, Lennar, Pulte to junk status
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Summit Mortgage to fold
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Beazer to restate results back to 2004
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Wheezing Beazer Gets A Break
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Soured Loans Soar at Countrywide
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Homebuilders Shrug Off Downgrade
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Home Foreclosures Doubled in September on Loan Rates
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Judge Sets Deadline on New Century Probe
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Wall Street Banks Oppose Sale of American Home Unit
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Judge halts higher Pa. mortgage bills stemming from bankruptcy
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FDIC shifts sales strategy for Market Street Mortgage
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Dismal refinancing forecast prompts call for ABX shorts
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Capital One's home-loans chief is leaving the company amid the housing downturn
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CM Development head says loan document was falsified
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Aviation:

United faces new 'get tough' leaders at its pilots union
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Airlines hired pilots by the hundreds last month
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Hedge Funds:

Grassley opposes using private equity tax to offset AMT
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Bear Stearns' Bad Bet
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Cash Management:

Bankruptcy trustee files suit against Sentinel execs
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Travel:

Windjammer struggles to restart cruises
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Chemicals:

Solutia Fights Bank of NY Over Claims
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Autos:

Ford-UAW Pact May Be Easier After Chrysler Job Terms
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Ford Hires Head of Lexus, Aiming for Toyota Magic
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Car industry abuzz over defectors
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Auto worker benefits - long rising - begin to wane
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Lots of give, little take in UAW contract with Chrysler
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Solar Stamping Creditors Weigh Loan Bid
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Appaloosa gives Dana Corp. more time to review offer
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Dura Bankruptcy Plan Roils Bondholders
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Delphi schedules layoffs
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Personal Finance:

Warren: Whose Family Values?
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Student Debt:

In the Trenches at Sallie Mae
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Sallie Mae Has Third-Quarter Loss of 85 Cents a Share
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Sallie chairman says buyers could yet sign contract
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Loans made up more than half of student financial aid in 2005-06
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Telecoms:

Amp'd Mobile's Sordid Remains
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Remnants of Amp'd Feasted Upon
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Derivatives:

Marking to market, Ambac recognizes $743 million loss from credit derivatives
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Art:

Is the art market cruising for a fall?
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Corporate Reform:

Ousted Chief of Retailer Strikes Back at Directors
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Grasso, With a Little Help From His Friends
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Rigases appeal convictions to Supreme Court
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Tax:

Tax Cuts Increased Income, but Hardly Equally
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House Bill Ends Private Tax Collection
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Health Care:

Doctors, investors may bid on Barnert
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Benoit's doctor files for bankruptcy
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$25 million for Victory Memorial
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Hospital sale flat-lines
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Accounting:

Prosecutors ask court to reinstate charges in KPMG case
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Enron:

Enron colleagues: Ethics icon's whistle-blowing claims untrue
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Intellectual Property:

Domain Names: contract right or something more
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Politics:

Presidential Hopefuls, Congress Toss The Housing Hot Potato
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Religion:

Archdiocese begins studying options for new civil law structure
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New Bankruptcy Opinions
(No new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Chapter 7, 12 & 13 Private Trustee Locator
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Recent Ch. 11 Filings
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Bankruptcy Jobs:

(1), (2), (3), (4), (5), (6), (7), (8), (9), (10), (11), (12)
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Ailing company debt losses may be bigger
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Credit Counseling:

Court Holds That Credit Counseling Not Required; Debtor's Certification That Counseling Was Completed Satisfied Requirement
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Finance:

US commercial paper outstanding rises 2nd week
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The balance of power in credit markets is finally shifting
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I Prescribe Bed Rest And Plenty of Liquidity
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Economy:

The wealthiest 1% of Americans earned 21.2% of all national income in 2005 -- a postwar record. The bottom 50% made 12.8%
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Bush pledged to revive the country's flagging free-trade agenda, acknowledging in a Wall Street Journal interview that many Americans lost faith in their ability to compete globally
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Horse Racing:

NYRA: Racing may shut down Jan. 1
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Churchill, others abandon NY bid
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Layoffs:

JPMorgan to Layoff Employees in Fixed Income Units, Person Says
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Wall Street:

Merrill Painfully Learns the Risks of Managing Risk
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Forest Products:

Palco creditors put lower value on assets
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Insurance:

Massachusetts Bans Credit Scores in Auto Insurance Decisions
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Manufacturing:

Buyers, customers size up Rockford Products
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Mining:

Harbinger settles disagreement with Asarco over documents
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Banking:

Big Shake-Up as Citigroup Combines Two Key Units
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UK:

Indebted Focus offloads 41 stores
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New Zealand:

Feltex report smooths path for liquidator's $20m quest
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Japan:

Pre-Packaged Filings And Pre-Filing Arrangements For Sponsorship In Japan
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Japan Sept corp bankruptcies +1.7 percent yr/yr
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Australia:

Four out of five Aussies fear debt trap
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Netherlands:

Costs and Recovery Rates in the Dutch Liquidation-Based Bankruptcy System
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Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C.  You can reach us at 281-242-6208 or at accounting@bkinformation.com