November 6, 2008

The Daily Bankruptcy News

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Law:

Sizing Up the American Workplace Under an Obama Administration
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Can bike courier services survive court's shift to e-filing?
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Election Remakes Texas Courts
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Michigan Chief Justice Loses in 'Stunning Upset'
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Expected Fee Hikes
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Quarter of UK top 50 say they could cut jobs in next six months
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Dumping More on Juries Than They Can Process
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Locke Lord Bissell & Liddell Forms TARP Group
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Greenberg Glusker Formalizes Real Estate Restructuring and Loan Workout Group
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Chicago firm is working through growing pains
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Clifford Chance accounts show net cash surging past $140m
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Why Heller died
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Obama Announces Transition Team; Lawyers Proliferate
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Obama is the Second US President with a Harvard JD
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Man Goes to Court to Fight His Own Impending Autopsy
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Your Client's Keeper
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Solos cautioned against tacking 'associates' to firm name
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An Early Line on Legal Slots in Obama Administration
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Lawyers Predict Top Business Litigation Issues for President-Elect Obama
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BigLaw Wedding Presents: Merger Could Stanch Partner Departures, Attract New Talent
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'Lawsuit Financing' Extorts, Customer Says
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We Were Told You'd Bring Billables
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Why Law Departments Should Beware Super-Sized Firms
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How Solos Stayed Afloat After Hurricane Ike
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First Female Solicitor General? Could Happen In Obama's Administration
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Free Monitoring for Buyers, $6.5M for Lawyers in Massive TJX Data Breach Case
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Wall Street:

Stock futures point to weaker Wall Street open
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Markets Fall Sharply, Erasing Election Day Gains
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Economy worries push stocks down
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U.S. Stocks Post Biggest Post-Election Drop on Economic Concern
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Wall Street's Election Letdown
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Goldman begins to cut 10 percent of staff
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More Barbarians At The Gate
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Life on the Lam: Has David Pajcin Fled the Country?
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Wall Street's Pay Is Expected to Plummet
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Developer, Meritage duke it out in court
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On Wall Street, the Incredible Shrinking Bonus
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Municipalities:

NYC may soon have 15% income tax hike
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Autos:

Carmakers may not be able to wait until January
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Auto industry collapse would crush US economy
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Tight times have workers resistant to Ford buyouts
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GM employees brace for more bad news
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Doomsday scenario is all too real
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Dismal auto report could force government's hand
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GMAC's Woes Will Crimp Car Sales
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GM in survival mode
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What the Fed?: GM Sells U.S. a Lemon
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Automakers could get loans by Dec. 31
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Cerberus chief: Country can't let automakers fail
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US approves loan rules, auto execs lobby for more
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Auto parts maker to lay off 186 in Indiana
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Pelosi to meet with UAW, US automaker leaders
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US automakers hope Obama will bring financial aid
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Failure of one or more automakers could cost 2.5M US jobs
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Zap Import's case dismissed
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Dana to cut more jobs, close plants as loss widens
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AutoNation swings to $1.41 billion 3Q loss
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Toyota Cuts Profit Forecast 56%
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Isuzu reportedly has no interest in buying GM's truck unit
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Lehman:

Lehman Chief Fuld 'Terminated' by Bankrupt Company
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Fuld is folding at the end of the year
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Ousted Lehman Bros. CEO getting no severance, bonus
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Judge denies Evergreen request on Barclays shares
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Lehman Brothers' Final Indignity
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Newspapers:

News Corp. profit declines 30%
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Food/Drink:

Kosher Iowa meatpacker seeks bankruptcy protection
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'A Lot of Pain' in Postville After Bankruptcy
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Slaughterhouse (Chapter) 11
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Interstate Bakeries reduces monthly loss
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Supreme Bean in bankruptcy
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Sovereign Debt:

Swiss Finance Guru sees bankruptcy for the US
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U.S. Debt Could Tie Obama's Hands
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Religion:

Without Walls Church faces foreclosure of two properties
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Economy:

A Towering Economic To-Do List
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For Obama, Long-Term Problems and Short-Term Pain
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Obama to inherit feeble economy awash in red ink
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FDIC's Bair another name in the treasury secretary mix
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Slower Spending Hurt Service Sector in October
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U.S. Layoffs Reach 5 Year High
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The Changes Business Wants
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Administration Speeding Up on Economic Problems
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Obama's Victory: Three Lessons for Business
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Recession Nation: 49 States at Risk
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Some companies may downsize next year's raises
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Government details plans to borrow $550B
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U.S. Explores Its Options With TARP
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New wave of job cuts could worsen downturn
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Real Estate:

Steepest decline in Houston home starts in over decade
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Deteriorating Home Market Puts GMAC Unit at Risk
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ResCap Could Fail; GMAC Says Mtge Lender Can't Survive Alone
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Sorry, responsible homeowners
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This Is The Change We Have Been Waiting For
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Mortgage Applications Fall 20% To Close Out October
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Obama's housing plan not enough to fix problems
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Fed's Fisher: Fed Assets May Top $3 Trillion by Next Year
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Schwarzenegger proposes 90-day freeze on home foreclosures
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Creditor wants Newhall Ranch developer to sell land to repay debt
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Seller Financing Regains Favor
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Levitt seeks OK for revised plan
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Banking:

Wells Fargo to Sell $10 Billion in Stock
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Banker tells why he said no to bailout money
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Credit Crisis Takes Toll on Those With Good Credit
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Banks Targeted in Cuomo's Bonus Review Say Payout Details Aren't Available
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Accounting Guidance Smiles on Banks
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Oil/Gas:

Oil Falls More Than $5 After Unexpected Gasoline Supply Gain
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Viking cancels rig auction
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Retailing:

Retailers report steep sales declines in October
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US electronics chain Tweeter files for Chapter 11
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Tweeter bankruptcy to close 8 Chicago area stores
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BTWW files for Ch. 11 again
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Bankruptcy Reform:

$700 Bailout ? Time to Revisit the 2005 Bankruptcy Law.
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President Elect Obama - Congratulations - Please Amend The Bankruptcy Code
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Health Care:

Federal judge approves sale of NOMC
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Aviation:

Delta to impose $15 fee to check first bag
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Big-Carrier Cuts Hurt Small Airlines
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Is the worst over for the airlines?
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Alitalia buyer offers 375 mln euros for assets
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Alitalia deal worth 1 billion euros
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Credit Cards:

Obama will usher in credit card reform, observers say
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Banks Asking For Federal Permission To Forgive Some Consumer Credit Card Debt
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Small-Business Owners Lobby to Cut Credit Card Fees
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Accounting:

KPMG Forensic boosts economic regulation team
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Obama urged to suspend fair value
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Balance Sheets 101: Who Might Survive This Crisis
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Truth In Lending:

3rd Circuit: Truth in Lending Act Provides Unwaivable Defense
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Corporate Governance:

Creditor Rights and Corporate Risk-Taking
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Derivatives:

Credit-Default Swap Disclosure Hides Truth on Risk
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Credit default swaps get the attention of regulators, exchanges and clearinghouses, but how the process will settle is anyone's guess
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Hockey:

Trustee seeks Predators' financials
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Turnarounds:

Famous Turnarounds
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Debt Collection:

Woman Says Business Deal Gone Bad Led to Coerced Sexual Intercourse
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Music:

Hollywood Sheet Music faces the music
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Personal Finance:

Frugality Trumps Brand Loyalty
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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)
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Bonds:

Moody's cuts Ambac Financial debt rating to junk
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Insurance:

S&P says may cut ratings on some AIG units
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Greenlight Capital Re bets against financials
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Aegon UK net income down 61 per cent in Q3
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Politics:

Pick the next Treasury Secretary
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Meltdown 101: A president's power over the economy
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Election Special What Not to Wear
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Resorts:

Judge to rule Monday on Double JJ sale
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Layoffs:

AMD lays off 500 people worldwide
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Embattled Cadence laying off 625 people
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First Marblehead cuts 24% of workforce
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Glaxo to Cut 1,800 Sales Jobs
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Predatory Lending:

Payday lenders ponder next move after defeat
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Cashland Locations Closing After Payday Loan Defeat
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Corporate Reform:

With the election over, finance managers should brace for a wave of legislation aimed at businesses in 2009
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Democrats Eye Tighter Finance Rules
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U.S. Does Not Support a Global Crisis Regulator
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Alternative Fuels:

US biofuels sector sees ally in Obama
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Farmers question VeraSun bankruptcy
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Video Rentals:

High Drama at Blockbuster
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Hedge Funds:

Thiel's Clarium Hedge Fund Declines 18% in October
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Hedge-fund industry deserves pain
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Obama: What Does it Mean For Hedge Funds?
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UK:

Interest rates drops by 1.5%
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Credit Act changes cause IVA confusion
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Hedge Fund Britain's business model upended
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Net lending continues to slump
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'Lenders failing to pass on rate cuts are not profiteering'
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The Fall and Fall of Paul Gascoigne
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U.K. House Prices Decline 14.9%, the Fastest Pace in 25 Years, HBOS Says
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KPMG predicts rise in bankruptcies, IVAs
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Hundreds of firms 'to go bust by Christmas'
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King May be Forced Toward Zero Rate Policy as Economy Heads for Recession
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Market conditions for debt collection dramatically worsen as delinquency rates climb
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Insolvency rate to rise 41% by end of 2009
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EU:

ECB to Cut Rates as Economic Slump Calls for `Radical Action'
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Europe's Outlook Grows Gloomier
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Australia:

Lawyer denies a One.Tel 'folly'
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On the Relationship between Bankruptcy Risk and the Value Premium: Evidence from Australia
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Ukraine:

IMF approves $16.4B emergency loan for Ukraine
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Japan:

Japan okays bank bailout bill
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Japan Reiterates Economy Is `Deteriorating' as Recession Concerns Mount
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India:

Indian exporters to bear burns of US bankruptcies
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Sweden:

More Swedish companies going bust
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China:

FerroChina Lenders Said to Plan Asset Seizures, Sales
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As China's economy stalls, some business owners run away
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Hong Kong:

Asian Investors 'Accumulate' Big Losses on Risky Contracts
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France:

France Cuts Economic-Growth Forecast for 2009-2010 Amid Financial Crisis
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Germany:

German Manufacturing Orders Drop Most Since 1991 as Investment Declines
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