April 4, 2008

Daily Bankruptcy News

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Law:

Skadden Names Bankruptcy Partner
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Hunton Names Bankruptcy Partner (scroll down)
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Sonnenschein Names Bankruptcy Partner
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Great time to be a bankruptcy lawyer
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Name Partner's Son Leaves BigLaw Firm
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Valley, Meet the Recession. Recession? Valley ...
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What's Going On At Sonnenschein?
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Dollars and Sense of Associates Becoming Partners
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Women Who Take Law Practice Breaks Get More Help Getting Re-Connected
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Court Dismisses Recruiter's Lawsuit Against Akin Gump
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Patton Boggs Faces Suit by California Bank
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No-Bid Contracts Worry Justice
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Merged NY Firm Loses Silicon Valley Office
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How an Influential Private Lawyer Got a $107K State Pension
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Survey shows most favor arbitration over litigation
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Lawyers Without Borders: MegaFirm Backs US Law School on London Scheme
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Judge Rethinks Sanctions Against NY Firm
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"Super Lawyers" Vows Fight to Keep How It Picks Who's Super Secret
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Dropping 23 Spots in U.S. News: Dean of Buffalo Law Responds
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Judge Explains His Decision to Order Whites Out of Courtroom
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Yucca Mountain Report Critical of Morgan Lewis, Energy Department
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Fired Partner Ratchets Up Suit Against Former N.J. Gov. DiFrancesco's Firm
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J.D./Journalist Slapped With Restraining Order for Posting Pellicano Audio
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Judges:

Judge-in-drag should transition to TV
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Economy:

Fed's Geithner Says Markets Still `Impaired,' Urges Action
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Fed's Yellen says US economy "all but stalled"
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Jobless claims: Highest since Katrina
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It's Looking Grim for New Grads
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80,000 Jobs Slashed in March
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Profits at US Companies Probably Fell Again
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Economist React: Recession Signals From Jobless Data?
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Treasurys rise on expectations of weak economy
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Soros calls financial crisis worst since Great Depression
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How to translate Fedspeak
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81% in Poll Say Nation Is Headed on the Wrong Track
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Demise of Two Airlines Likely to Affect Economy
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Computers:

Dell sees 'hesitancy' among clients due to economy
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Why history isn't on Dell's side
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Student Debt:

CIT, NorthStar Stop Writing US Student Loans as Market Slumps
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College Students' Reliance on Federal Student Loans up Across the Board
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Retailing:

Bankruptcy judge approves sale of retailer Lillian Vernon
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Food/Drink:

Baker's Square parent files bankruptcy
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Autos:

Customers approved to finance Plastech's bankruptcy
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Johnson Controls offers to buy parts of Plastech
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Delphi approaches deadline to secure bankruptcy loans
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Delphi expects loan OK today
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Johnson Rubber burned out
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Resolved issues may revive talks in Axle strike
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Health Care:

Judge refuses to free defendants
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First step taken toward Valley Health System recall
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All fingers point in one direction
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Nonprofit Hospitals Strike It Rich
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Leiner Creditors Object to Sale
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Price for Victory Memorial climbs
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Forest Products:

Wilson misleading about MRC's Palco plan
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Across the river and into the trees: North Coast timber saga again at center stage
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Municipalities:

Jefferson County's missed management
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Horse Racing:

NYRA in limbo after Gov. resignation
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Hedge Funds:

AQR to shutter hedge fund
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Zwirn launches provocative hedge fund
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Derivatives:

OTC derivatives trading remains a slow process
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Household Credit:

Consumers late on most payments since 1992
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Celebs:

Foreclosure crisis catches up with ex-Bronco Vance Johnson
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Consultants:

Profiting from the Market's Misery
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Mass Torts:

Asbestos victims win one, for now
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Gambling:

Owner of Terrible's Casino faces bankruptcy
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Insurance:

Answers needed on Tampa's Poe insurance insolvency
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Involuntary Bankruptcies:

Black Diamond involuntary to proceed
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Real Estate:

$15B housing fix gets fast-tracked by Senate
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Bill Helps Business More Than Borrowers
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Congress lays an egg
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Housing bailout benefits builders, offers "counseling" for homeowners
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Behind the Senate deal on housing relief
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Builders, mortgage companies get additions, subtractions they asked for in Senate housing deal
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Supporters defend proposed tax break for home builders
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MBA Supports Bipartisan Effort on Foreclosure Bill
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Pelosi Tepid On Senate Housing Bill
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Mortgage bail-outs Itching to act; unsure what to do
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States Move Fast on Mortgage Aid
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Community National Bank takes on HomeBanc name
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Home Prices Fall in 21 U.S. Cities Amid Foreclosures
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US CREL CDO Delinquencies Drop Slightly on Fewer Repurchases
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Rural communities hit hard by foreclosures, too; farms fall under the auctioneer's hammer
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Foreclosures force HOAs to cut corners
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Here Come the Suits
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FL: Luxury living auction, or high-end fire sale?
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FDIC on defense in $25 mortgage fee case
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One-third of pre-foreclosure sales fail
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Who should be blamed for mortgage fraud?
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Army of Ohio attorneys battle foreclosures pro bono
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The Mortgage Meltdown and Negative Equity Certificates
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Aviation:

ATA Airlines Files for Bankruptcy, Ceases Operations
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ATA bankruptcy disrupts travel to Hawaii; Southwest scrambling
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ATA shutdown strands thousands
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Stranded by ATA? Your few options will cost you
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ATA left Midway passengers stranded without even polite phone call
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Airline stocks dip after ATA declared bankruptcy
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Southwest seeks partners to add overseas flights
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Union Scrambles to Help ATA Flight Attendants
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ATA workers stunned as airline closes
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ATA Demise Deprives US Military Of Largest Civilian Carrier
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Hawaii stands to lose 500,000 visitors
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Five airlines spurned ATA offer
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As Delta board meets, another airline goes bankrupt
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Collapse of deal dooms ATA
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ATA's flight to nowhere
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150 more Aloha employees fired after ATA closes
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Aloha, pilots union still at odds
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Northwest offers to serve stranded ATA passengers
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Northwest Raises Fares, But Will Anyone Pay Them?
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Cash-Strapped Airlines: Who's Next to Fall?
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ATA, Aloha: Bankruptcy is in the air, again
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ATA Shutdown Signals Discount Woes
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Inspectors for FAA Say Violations Were Ignored
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Airline passengers deserve a bill of rights: Schumer
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Against the Jetstream
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Wallflower United still looking for a partner
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'Plan B' Announced for Adam Aircraft Sale
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Adam Aircraft's future on the block
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The Issues Behind Alitalia's Crisis
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Berlusconi politics allow unions to delay an overhaul at Alitalia
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Alitalia's Board Seeks Options After Deal Collapses
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Alitalia Keeps Flying _ for Now
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The Agony of Italy's 'Cursed' Airline
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The Crack of Doom for Alitalia
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Rome, Alitalia unions want Air France-KLM to come back to table
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Italy govt to revive contacts between Air France-KLM, Alitalia
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Alitalia crashing after years of inertia
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Distressed Investing:

Distressed-debt investors await bankruptcy wave
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Harvey Tepner Joins WL Ross & Co. LLC
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Matlin, Tepper and Falcone lead 'vultures'
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Investors Stalk the Wounded of Wall Street
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Some distressed-debt investors are buying
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Will There Be Enough Distressed Debt To Go Around?
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Accounting:

Credit crunch special: liability crunch
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Ex-Andersen partner escapes jail
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The $180 Million CFO?
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Goodbye GAAP
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Nonprofits:

With economy faltering, nonprofits brace for recession
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Banking:

Former Citi Chief Reed Says Citigroup Deal a 'Mistake'
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Fifth Third considering National City buy
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Ex-UBS Executive Pushes Breakup
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BofA to expand lending unit
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Countrywide bank's rating dropped to D
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Citigroup to Pay Women to Settle Lawsuit
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Societe Generale rogue trader contests his firing
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Bankers in search of a new business model
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DIP Financing:

Lexington Precision can tap unusual DIP loan
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Trucking:

IdleAire's future uncertain as losses mount
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Corporate Governance:

CNET's Bylaw Battle Puts Companies on Alert
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Delaware Corporate Law and the Sale of Companies
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Layoffs:

Motorola lays off another 2,600 workers
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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)
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Bankruptcy Reform:

Bankruptcy overhaul fades from Senate housing bill
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Durbin's bankruptcy provision faces failure
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Senate rejects bankruptcy revamp on housing
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US Housing Bill Hits Snag In Senate On Bankruptcy Amendment
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Taking a hard line on rewriting the bankruptcy code
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UST:

CLLA Comments on EOUST Proposed NDR Report
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Professional Compensation:

Success Fees Under Section 328: Be Reasonable and Specific
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Private Equity:

PE-backed bankruptcies
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Wall Street:

Fed to report Bear Stearns portfolio value
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What We Learned From Bear
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Sen. says Bear trades before rescue need scrutiny
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Dimon Rejected Rescuing Bear Until Geithner Promised Funding
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Bear May Have Survived If Fed Acted Sooner, Schwartz Says
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Testimony By JPMorgan's Dimon On Bear Deal
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NY Fed's Geithner explains Bear Stearns deal
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More than $10bn of Bear's liquidity evaporated in one day
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Ben Bernanke admits Bear Stearns was hours from collapse
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Ninety-six Hours That Changed the World
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Merrill Lynch prediction: Up to 7,000 lay offs
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US Fed puts 'monitors' in top banks following Bear Stearn's crisis
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Japan Stocks Fall, Led by Carmakers on Concern Demand Will Slow
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Futures Flat Ahead of Jobs Data
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Jobs data heighten recession fears on Wall St
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Video Rentals:

Movie Gallery to close 160 more stores
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Credit Cards:

Consumer Debt: Storm Clouds on the Horizon?
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M&A:

'We Don't See Access to Capital for Large Deals Any Time Soon'
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Round one to Clear Channel, as case sent back to state court
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Lehman's Shafir offers gloomy M&A outlook
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Politics:

Clinton, Obama want crackdown on lenders
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Bush appears out of touch on U.S. economic woes
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Software:

Bankruptcy trustee skeptical as SCO punts on reorg plan
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Telecoms:

Is There a Mobile Phone Recession?
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Motorola Must Face Shareholder Lawsuit Over Iridium Statements
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Predatory Lending:

Are Payday Loan Businesses Preying on the Poor?
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Awards:

Bossi inducted as Fellow of American College of Bankruptcy
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Resorts:

Diablo Grande gets OK for financing extension
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Lassen ski project Dyer Mountain files bankruptcy
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Utilities:

Southaven wins OK for sale
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Labor:

Unions Find the Economy Is Tough on Bargaining
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Enron:

Lawyer: Skilling Only Had Enron in Mind
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UK:

Small retail landlords 'could go to the wall'
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IVAs and Bankruptcies Soar Across Wales
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Canada:

Designer remains steadfast in face of bankruptcy storm
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Law firm mulls auction for ABCP noteholder voting rights
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ABCP investors seek alternate bids
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Sask Pork Calls for End to Support Caps
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Cattle Feeders Alarmed
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Student-loan changes to ease financial load - director
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US judge approves sale of private jet by Quebecor World
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India:

Subprime fallout: RBI wants lenders to play counsellor
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Germany:

German Bank Plans $6.7 Billion Write-Down
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EU:

Europe to Approve Guidelines on Bank Failures
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New Zealand:

Receivership urged after Lombard hits trouble
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Russia:

British Fund Accuses Russia Of Theft Scheme
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Yukos Paid 90bn in Excess to Budget
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Japan:

Shirakawa Poised to Lead BOJ
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Australia:

It just gets worse for Opes clients
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