August 26, 2008

Daily Bankruptcy News

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Law:

Mayer Brown Loses Restructuring Chief to Orrick
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Defections Continue at Thelen
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Thelen Announces New Firm Name
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Thelen Their Oats: Will A New Name Lure Suitors?
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Musical Chairs: The Akin Gump Defections
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When Layoffs Cost Money
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ABA Ethics Group OKs Outsourcing, But Nixes At Least Some Fee Mark-ups
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Imagining a Public Law Firm's Earnings Report
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Summer Associates Take Trapeze Lessons, Attend Football Training Camp
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Baker Donelson's subprime task force pools talent of more than 50 attorneys
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Setting up litigation camp
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Lawyers: Too Focused on Fine Print for Public Company Management?
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Suit Called "Insane, Obscene and Disgusting" Reveals Gulf Between Lawyers, Public
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Judge won't delay OJ Simpson trial in Las Vegas
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Lawyer Falls Prey to Pricey Internet Scam
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Law Firms Concentrate on Getting Paid
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Law School Ranking 'Gaming' Under Review
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Defamation Suit Proceeds Against Defense Lawyer in Law Firm Theft Case
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Fox Rothschild's CMO Jumps to Cozen O'Connor
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The EDD Expert Witness: Choose Carefully
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Say What?!
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Lawsuit of the Day: Hit-and-Run Bentley Driver Strikes Again
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Lawyer of the Day: Philip Berg
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Judges:

Paw prints in bankruptcy judge's office spell end for masked bandit
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Judge Under Fire for Drunken Driving Rulings Says Transfer was Punishment
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Bankruptcy Litigation:

7th Circuit Nixes Attempts to Hold Investment Bankers Responsible for Matters Beyond Their Engagement Agreements
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Politics:

Obama and the Economy: Can He Connect?
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Economy Challenges Obama Agenda
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Biden's Cozy Relations With Bank Industry
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Biden's Sons Caught Up in Hedge Fund Brouhaha
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MBNA paid Biden son at critical time for bill
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Credit cards and the gentleman from Delaware
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Lobby ties contradict 'outsider' label on Sen. Biden
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Trustee says lawmaker must come up with money
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AIG spent nearly $2.8M lobbying government in 2Q
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Hillary Broke! Foreclosure and Bankruptcy Looms! No Help From Bill! :)
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Wall Street:

Markets Poised to Open Higher
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US Stock-Index Futures Retreat, Led by Commodity Producers
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Wall Street frets ahead of economic data
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Asian markets fall amid worries over credit losses
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US Stocks Drop Mon., Led by Financial Shares, AIG, Banks Retreat
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Lehman Brothers' Blues
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Borrowing at Merrill, Wachovia Hit With Record Refinancing Bill
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The Reign of Uncertainty in Financial Markets
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Aviation:

International airfares hit highest level in 9 years
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Delta tapping $1B credit line to deal with merger
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Investors, businessmen meet over Alitalia future
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Atlantia mulls 100 mln euro Alitalia investment
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British Airways has no interest in Alitalia
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Group Plots Alitalia Rescue Plan
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Bankruptcy of AiRUnion not in government's interests
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Predatory Lending:

Opponents of auto title lending industry hope legislature limits 'outrageous' fees
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Tighten leash on payday lenders
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Debt Collection:

Debt collectors ringing up sales
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Food/Drink:

Atalaya looks to save Bennigan's
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Mrs. Fields files for Chapter 11
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Dry Cleaning:

MJW clear to buy NDC stores
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Credit Cards:

Eight million people at risk of ID fraud after credit card details are stolen by hotel chain hackers
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Oil/Gas:

SemGroup LP's unsecured creditors seek documents
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SemGroup asks judge for $15.9M to pay remaining employees
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Umma wins extension
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Movie Industry:

For Tom Cruise's career, a crisis of commerce
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Is Merrill Trying to Bail on Tom Cruise's Movie Studio?
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Retailing:

The lights go out at Six Flags Mall
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Sears On Life Support
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Hedge Funds:

Russell Led Hedge Investors to Losses
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Real Estate:

New home sales expected to fall
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Home Resales Rose More Than Forecast
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Freddie, Fannie pare losses - Shares rise on demand for Freddie Mac debt auction; banks under pressure
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JPMorgan takes $600 mln hit on Fannie, Freddie
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Gross, Fuss say any new GSE deal needs Treasury
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Freddie, Fannie Drop Dims Prospects of New Investors
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Freddie Mac sells $2bn of its debt
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Freddie, Fannie Failure Could Be World 'Catastrophe,' Yu Says
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Thornburg survival in doubt after new margin calls
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Indiana files suit vs. Countrywide
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Countrywide Worker Stole 2 Million Personal Files & Sold Them, Class Claims
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Retailers' woes hit real estate investors
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Florida's July home sales up from a year ago
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Short Sales of Luxury Homes, Even at DC's Famous Ritz Carlton
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These homes for sale stink
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Communities Become Home Buyers to Fight Decay
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Mortgages Ltd. swaps funding for Centerpoint
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Hawaii: Ilikai lender forecloses on $72.6M in loans
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Home sales, prices drop in Midwest
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Puget Sound mortgage mess kicks bankruptcy firms into over drive
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NorCal: Contractor CC Myers Files For Personal Bankruptcy
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Developers target lenders in recent wave of litigation
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City Crossing lenders, developer at odds
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Therapists helping builders cope during housing slump
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Mortgage fraud still soaring
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4 years ago, FBI saw mortgage crisis coming
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Cleveland Demands Millions From 'Corrupt' Subprime Lenders
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Office market feels funds woes
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Bankruptcy Statistics:

US corporate bankruptcies on the rise
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71 Public Companies Have Filed Chapter 11 so Far This Year
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Prepacks:

Vertis, ACG set to file landmark reorg
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Economy:

The U.S. Credit Crunch Cuts Deeper and Wider
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Average Income Rises Above '00 Level
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Q2 Profits Slump, but Not if You Take Out Banks?
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Crude futures struggle to hold above $115
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Will economy's path be shaped like a U, V, W or L?
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Enron:

Skilling's Appeal and the True Legacy of Enron
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RVs:

RV dealers facing slowdown as economy stifles demand
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Bonds:

Mortgage downgrades threaten $469 billion in bonds
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Trucking:

Ritchie Bros. to hold auction of Performance Transportation
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Alternative Fuels:

Wahoo ethanol plant's future looks bleak
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Beatrice Biodiesel seeks protection
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Celebs:

Amy Sacco Less Prominent, Not Quite Destitute
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Awards:

Houlihan Lokey Ranked as #1 - Best Employer to Work for in Investment Banking
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Theater:

Theater Files For Bankruptcy Protection
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Hedge Funds:

Hedge Funds Take Huge Loss as Mood Swings
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Music Industry:

Is It Time Tupac It In?
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Accounting:

The Public Company Accounting Oversight Board lives, but is its independence vanishing?
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HVAC:

Fedders plan clears
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Mining:

Will Asarco suffer from China Syndrome?
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Asarco plan is $200 million better than nothing
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Call Centers:

Investor sues over PRC losses
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Boating:

Brunswick bids $48 million to buy Olympic Boat Centers
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Horticulture:

Major American Nursery Headed For Obits
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Hines Horticulture wins DIP
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Bankruptcy Crimes:

Trial set for Dynus chief
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Insider Compensation:

Women receive lower bonuses than men
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Construction:

Alyn wins access to cash
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New Bankruptcy Opinions
(1 new opinion 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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Municipalities:

Experts: Chapter 9 not as clear cut as advocates proclaim
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Vallejo blocks employees access to comment on political blogs
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Collins: It doesn't seem we are going to work this thing out
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Jeffco expects to default on bond debt payment Fri.
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Insurance:

Dark Cloud Looms Over AIG
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AIG May See $6.5 Billion In 3Q Losses From Credit Market Pain
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AIG Falls to 13-Year Low After Credit Suisse Report
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9th Circuit Tosses Award in Executive Life Suit
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Autos:

Ford slips to 22-year low as investors remain wary
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The Big 3 DO Need Federal Help
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Big 3 gain loan support
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Let's avoid giving auto industry any more money
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Auto Makers & Washington: So Who Isn't Too Big to Fail?
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Delphi's emergence from bankruptcy is uncertain
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Trial set for former Collins & Aikman CEO Stockman, others
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Car Dealership Files for Bankruptcy
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Resorts:

Resort club faces money, legal woes
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Health Care:

Not What The Doctor Ordered
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Zestra sale to stalking horse OK'd
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Growth strategy costs Oregon's largest retirement home provider
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SunWest homes, trustee dispute venue
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Guilderland avoids receivership
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Diet Channel wins DIP, sale OK
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Tyrone Hospital board tries to remain upbeat
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Banking:

FDIC gets ready for bank failures
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More banks waste away
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A SarbOx for banks? It could happen
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Regulators Step Up Bank Actions
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US Fed ordered dividend halt on failed Kansas bank
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Now-defunct Columbian Bank changes to Citizens Bank
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UBS expects wage bill to drop by a third
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Fannie and Freddie exposure could hammer regional banks
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Deutsche Bank Seeks $107 Million From SageCrest Fund
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Asset Quality Concerns Hit BankUnited
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Horse Racing:

NYRA: Bankruptcy over in two weeks
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Gambling:

Herbst Gaming exploring all options
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Many casino operators' stocks fall
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Sault cuts jobs
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Finance:

Banks becoming hesitant to lend on belief credit losses will increase
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Newspapers:

Sacramento Bee offers more worker buyouts
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UK:

Mortgage approvals down 65%
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Kerry speaks about bankruptcy
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EU:

European Bonds Advance as Credit Losses Spark Demand for Safety
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ECB under fire for handling of downturn
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Euro tumbles on growing German gloom
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Canada:

Five minutes to midnight for banks
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Canadian banks under microscope this week
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Bank of Montreal Profit Declines on Rising Loan Losses
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Japan:

Japanese real estate shares falter on bankruptcy
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Asahi Homes' Parent Files for Bankruptcy Protection
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Japan shares fall on renewed credit concerns
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Philippines:

Bankruptcy law 'outdated'
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Germany:

German Recession Looms as Business, Consumer Confidence Drop
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China:

China on track for gradual slowdown
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South Korea:

More Working Class Falling Into Poverty
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Australia:

Centro asks banks for debt extension
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India:

Why Wilbur Ross Likes India
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Singapore:

Temasek Says Credit Crunch Will Last Two More Years
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