August 4, 2009

The Daily Bankruptcy News

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Law:

Bankruptcy sector one of few bright spots for law firms
(DBN)

Snapshot: Skip Di Massa
(DBN)

Despite size, DE law firm 'run like a small family operation'
(DBN)

The End of Big Law
(DBN)

After the Layoffs
(DBN)

Specter Seeks to Expand Fraud Liability to Aid Investors Sue Third Parties
(DBN)

Has the legal profession has become too focused on profits per equity partner?
(DBN)

Median Starting Pay for Law Firm Associates Peaks at $130K
(DBN)

It's All Downhill From Here? Pay Reaches Apogee, NALP Says
(DBN)

2nd Circuit Sets Tough Fee Standard
(DBN)

Seyfarth Shaw Cancels 2010 Summer Program
(DBN)

GPS Industries Bankruptcy Hits Mid-Sized Firms Hardest
(DBN)

Tough Love for New Associates
(DBN)

Bingham McCutchen Closes Acquisition Deal With McKee Nelson
(DBN)

BigLaw Firm Losing Much-Touted Lateral Partner Pair After Just 18 Months
(DBN)

Heller Employees Demand Better Representation
(DBN)

Madoff Trustee's Fees Are `Outrageous,' `Unreasonable,' Some Victims Say
(DBN)

High Cost of Dressing Down: NY Firm Lets Lawyers Wear Jeans on Friday - For a Price
(DBN)

Fleming, Phoenix, Lyceum Said to Consider Investments in U.K. Law Firms
(DBN)

Let Freedom Ring!: Lawyers Fight Court's Ban on Phones
(DBN)

Two More 'Iqbal' Dismissals Emerge
(DBN)

In-house counsel seeing bigger paychecks
(DBN)

Companies trimming legal budgets, taxing in-house staffers
(DBN)

Recession may have long-term effects on law firms
(DBN)

Questions Older Lawyers Should Answer Before Beginning a Job Search
(DBN)

Big Bank Legal Dep't in Spy Confab, Nixed Law Firm Mole Plan
(DBN)

Thoughts On Bar Exams From A Bankruptcy Attorney
(DBN)

Market forces weighing on large law firm model
(DBN)

Jacksonville Bankruptcy Bar welcomes Corrigan and new president
(DBN)

Greenberg Traurig Closes Major Bankruptcy Deal: LandSource/Newhall
(DBN)

Fried Frank Doin' Work: Firm Picks Up Cooper-Standard Chapter 11 Case
(DBN)

Weil Gotshal Achieves Top Ranking in Legal Week Employee Satisfaction Survey
(DBN)

The Ford Rollover Litigation: The Scoop On the Coupons
(DBN)

Firms & Courts Must Streamline in ‘Buyer’s Market,’ Longtime Partner Says
(DBN)

With Bill Gates Jr. Looking On, Gates Sr. Accepts ABA’s Highest Honor
(DBN)

Stanford Swap: Luskin Takes Over for DeGuerin
(DBN)

Law Firm Takes 103,000 SF at Great American Tower
(DBN)

E-mails Show Larger White House Role In Prosecutor Firings
(DBN)

Malaysia Lawyers Denounce Crackdown
(DBN)

Say What?!
(DBN)

Tuition Jumps 15% or More at Some Public Law Schools
(DBN)

Update on Future Hamline Law Student Kevin Heinz
(DBN)

______________

Judges:

Pa. High Court: Save Records of Judicial Scandal
(DBN)

1st lay judge trial starts
(DBN)

Corrupt Judges' Plea Deals Rejected
(DBN)

McCain Will Vote Against Sotomayor
(DBN)

Judge Who Refused Late Appeal to Argue Lawyers Exaggerated Computer Snafu
(DBN)

Obama Likes 'Em Young
(DBN)

Souter Issues Warning on Judiciary
(DBN)

______________

Wall Street:

US Stock-Index Futures Drop
(DBN)

Asian Stocks Fluctuate as Commodities Gain, Carmakers Decline
(DBN)

Stocks Rise as S&P 500 Tops 1000 for First Time in Nine Months
(DBN)

Goldman's Quarter-Trillion-Dollar Cushion
(DBN)

Driven by earnings, stocks have their best July in 20 years
(DBN)

______________

Layoffs:

National and State by State Unemployment Rates
(DBN)

GM May Cut More US Jobs as Buyouts Fall 7,500 Short of Goal
(DBN)

US report says 560,000 fewer online job ads posted from a year ago
(DBN)

Unemployment is high not because employers have become less willing to hire, but because workers have become less willing to work?
(DBN)

Ford to Cut 600 Jobs in Spain
(DBN)

Ormet Laying Off 982
(DBN)

Clarcor Cutting 150
(DBN)

Laid-Off & Looking: Is It OK to Be a Gold-Digger?
(DBN)

Ten Things Not to Say to Your Laid-Off Man
(DBN)

Many Making Job Switch
(DBN)

Moms return to a daunting job market
(DBN)

Income Loss Persists Long After Layoffs
(DBN)

______________

Banking:

Federal Agents Raid Bank and Lender in Florida
(DBN)

Big Texas bank on verge of failure
(DBN)

What is Going on at Colonial Bank?
(DBN)

Bank regulators dig in against Obama shake-up
(DBN)

FDIC's Bair Opposes Single Regulator, Saying Plan 'No Panacea'
(DBN)

Geithner to regulators: 'Stop your (expletive)turf wars'
(DBN)

Fed Plans to Strengthen Bank Examinations With Teams of Experts
(DBN)

S.E.C. Sues Bank of America Over Merrill Deal
(DBN)

BofA pays $33 million SEC penalty for Merrill deal
(DBN)

SEC Settlement May Threaten Bank of America's CEO Ken Lewis
(DBN)

SEC Statement on BofA's Settlement of the Merrill Bonus Case
(DBN)

HSBC Papers Over Cracks
(DBN)

HSBC says profit slumps 57% as bad debts leap
(DBN)

Investment banking lifts Barclays and HSBC
(DBN)

UBS reports yet another big loss
(DBN)

TED Spread Drops to Lowest Since 2007 on Bank Outlook
(DBN)

'Too Big to Fail' Cause of Current Failures
(DBN)

Diamond defends stars' bonuses
(DBN)

______________

Health Care:

Pennsylvania hospitals see 7.8 percent drop in average margins
(DBN)

Real-estate bust alters operations at hospitals
(DBN)

Ruling pushes Monsour closer to sheriff's sale
(DBN)

Health reform made simple
(DBN)

Protesters Shout Down Obamacare in Austin
(DBN)

Constituents Make Congressman Sweat
(DBN)

In rural America, skepticism of health care reform
(DBN)

27M on antidepressants
(DBN)

______________

Gambling:

MGM Mirage turns to loss
(DBN)

Another Cautionary Casino Tale
(DBN)

Bankruptcy for Thunder Valley's management firm
(DBN)

Trump Buys Casino Firm Bearing His Name
(DBN)

Cal Neva casino is up for sale
(DBN)

______________

Accounting:

Economic confidence returning, says ACCA
(DBN)

Newt Gingrich Doesn't Like the FASB
(DBN)

UK Court Decides it Will Leave the Major Lawsuits to the Americans
(DBN)

Ex-BDO Partner Won't Be on His Boat after Plea Deal
(DBN)

The SEC's Most Wanted
(DBN)

Deloitte to Squash Ratings?
(DBN)

BDO Seidman's Revenue Disappoints
(DBN)

Auditors win ruling over Madoff-style frauds
(DBN)

Deloitte UK Reports Shrinking Revenues
(DBN)

KPMG Thinks the Appearance of Independence is Overrated
(DBN)

______________

Trucking:

YRC Cash Down to Three Months, Say Analysts
(DBN)

______________

Hockey:

Emergency hearing in Coyotes case
(DBN)

Phoenix Coyotes' Bankruptcy Auction Delayed Until September by U.S. Judge
(DBN)

Coyotes bankruptcy : NHL, Glendale go on offensive
(DBN)

Coyotes 911: Post-mortem on hearing
(DBN)

Fate of Balsillie bid looms
(DBN)

Balsillie rises above NHL hostility as judge deems his bid 'highest and best'
(DBN)

Bidwill questions Coyotes plan
(DBN)

Coyotes bidder outraged over leak
(DBN)

______________

Delivery:

USPS at High Risk Financially
(DBN)

Dear USPS: Consider privatizing
(DBN)

______________

Ratings Agencies:

Don't Blame The Ratings Agencies
(DBN)

Obama's credit rater proposal has tepid to poor response
(DBN)

Sorry, Folks, We Can't Go Back To Buyer Pays Credit Ratings
(DBN)

______________

 

 

Economy:

US Economy: Manufacturing Steadies as Stimulus Boosts Demand
(DBN)

Three in a Row
(DBN)

Becker Says Bernanke May Fail to Curb Inflation During Recovery
(DBN)

Obama Committed to Not Raising Taxes on Middle Class
(DBN)

Feds Hit With Biggest Tax Revenue Drop Since 1932
(DBN)

TARP profit claim bugs skeptics
(DBN)

Measuring Economic Growth From Outer Space
(DBN)

Treasury reduces borrowing estimate for third quarter due partly to bank bailout repayments
(DBN)

Deficits don't have to mortgage the future
(DBN)

Credit Manager's Index Increases Sixth Straight Month
(DBN)

No bailout can stop the sinking
(DBN)

Office Romance Down
(DBN)

Washington is the New Wall Street
(DBN)

The Great Recession Continues
(DBN)

Recession has ended, but the pain hasn't
(DBN)

The Waitress Index
(DBN)

Of bailouts and bathroom tiles
(DBN)

Economic Stress Index
(DBN)

Economy Tracker Map
(DBN)

Recovery Index
(DBN)

______________

Real Estate:

June construction spending rises
(DBN)

Pending Home Resales in U.S. Probably Gained for a Fifth Month in June
(DBN)

Why the Banks Aren't Modifying Home Loans
(DBN)

Gov't Counting on Public Shame to Help Loan Effort
(DBN)

Interest rates fall, credit loosens, paperwork increases
(DBN)

Where High - End Home Price Declines Outpace the Market
(DBN)

High - end home sales struggling
(DBN)

Phoenix Home Sales Get Short Sale Boost
(DBN)

Fed Conference on Consumer Credit
(DBN)

Legacy Loans Program Stretches Its Legs
(DBN)

"Shadow" inventory lurks over U.S. housing recovery
(DBN)

Option ARM Defaults Now Worse Than Subprime
(DBN)

Wells Fargo accused of bias on subprime loans
(DBN)

Mortgage-Bond Rally May Sputter on Housing Reality
(DBN)

Banks Urged to Consider Higher Home-Equity Reserves
(DBN)

9.5 percent of Sacramento-area mortgages are late
(DBN)

California - a 4th straight month of rising median prices
(DBN)

Arizona's Law of Unintended Consequences
(DBN)

_____________

Autos:

G.M. Plans Thousands of Layoffs
(DBN)

GM US July sales fall 19.4 percent
(DBN)

GM Can Reject 33 Dealers Who Refused Wind-Down Deals
(DBN)

A Note on Senior Debt
(DBN)

GM finishes top executive changes
(DBN)

Ford's July US Sales Rise; GM, Honda Post Declines
(DBN)

Chrysler joins Ford in crediting 'cash for clunkers'
(DBN)

Is Somebody Lying About "Cash for Clunkers"?
(DBN)

Fleet sales plummet
(DBN)

Senate GOP Leader Questions 'Clunkers'
(DBN)

Cash-for-Clunkers: Under Fire From All Sides
(DBN)

Clunker of a bill
(DBN)

'Clunkers' Staff Doubled to Handle Paperwork Backlog
(DBN)

US car aid plan irks trading partners
(DBN)

US Automakers Accounted for 47% of Initial 'Clunkers' Sales
(DBN)

Delphi's bankruptcy nothing like GM's
(DBN)

Supplier Cooper-Standard files for bankruptcy
(DBN)

Another Day, Another Supplier
(DBN)

Exit the Czar
(DBN)

How Not To Become Treasury Secretary
(DBN)

Iron Mountain closed permanently
(DBN)

AutoNation 2Q profit falls 29 pct, revenue falls
(DBN)

Laid Off Auto Workers Learn to Install Solar Panels
(DBN)

A men's fragrance from "a troubled company"
(DBN)

Korean auto firm standoff worsens
(DBN)

Police step up siege of Ssangyong plant
(DBN)

Why Volkswagen Is Powering Through the Recession
(DBN)

BMW July sales drop 27 percent
(DBN)

Lexus, Mercedes Post Best '09 US Sales as Luxury Slump Eases
(DBN)

Toyota Reports $819 Million Loss
(DBN)

Toyota Restructures, Too, but at Its Own Pace
(DBN)

Germany's Ruling Parties to Champion Magna's Opel Bid
(DBN)

GM takes more time to negotiate over Opel sale
(DBN)

______________

Finance:

CIT Group raises debt repurchase price
(DBN)

CIT shares soar after amends tender offer
(DBN)

Why Doesn't CIT Say It's Not Going For Chapter 11?
(DBN)

CIT's Peek unlikely to outlive funding crisis
(DBN)

CIT CDS selloff leaves correlation traders sitting pretty
(DBN)

Market for leveraged loans hits 12-month high
(DBN)

How Has Angel Group Investing Held Up During the Recession?
(DBN)

Banks clip commercial loan levels
(DBN)

______________

Oil/Gas:

Economic oil spill on the horizon?
(DBN)

Global economy at risk from oil price rise
(DBN)

Marathon Oil 2Q Profit Falls 47% Amid Price Slump
(DBN)

Oil jumps above $70 on optimism demand to recover
(DBN)

Firms Fear Speculation Limits Will Raise Costs
(DBN)

Bidding deadline brings Big West closer to a sale
(DBN)

Court Confirms EPL's Plan of Reorganization
(DBN)

St. Mary Land & Exploration Reports 2Q Loss
(DBN)

______________

Municipalities:

Alabama county makes massive job cuts; Two-thirds laid off
(DBN)

Bankruptcy appears imminent for Alabama county
(DBN)

Southwestern Ill. town seeks bankruptcy protection
(DBN)

Communities on a perpetual drunken spending spree
(DBN)

______________

Navigation:

GPS Industries files for bankruptcy protection
(DBN)

______________

Fraud:

Ruth Madoff Can't Spend $100 Without Telling Trustee
(DBN)

The Making of Madoff
(DBN)

Picard attacks Ruth Madoff's 'life of splendor'
(DBN)

Andrés Piedrahita Considers Himself a Victim of Bernie Madoff, Too
(DBN)

Madoff Mansions Poised to Hit Market at Bad Time
(DBN)

With Private Eyes, Investors Buy 'Madoff Insurance'
(DBN)

Judge Says Stanford Receiver Can Recover Interest
(DBN)

Lessons from Bernie
(DBN)

Bernie's world
(DBN)

Stanford's Daughter Fights Court-Appointed Receiver to Stay in Texas Condo
(DBN)

Interwoven Hedge Fund Frauds Catch One Manager
(DBN)

Rabbi Fraud Case in Los Angeles Echoes NJ Scandal
(DBN)

SEC is seeking millions from ex-Kmart CEO after jury found he misled investors in 2001
(DBN)

LV: Heat turned up on alleged Ponzi schemer
(DBN)

Immediate bail likely for former Livent duo
(DBN)

The alleged grifter who duped corporate giants
(DBN)

______________

Theme Parks:

Six Flags Inc. reports second-quarter loss of $121.6 million
(DBN)

______________

Mining:

Harbinger backs Sterlite plan for Asarco
(DBN)

Doe Run Peru's Possible Bankruptcy to Spur Overseas Zinc Sales
(DBN)

______________

Aviation:

Frontier Airline bids differ in aim
(DBN)

Frontier CEO: future isn't clear
(DBN)

Bedford assesses Southwest's bid for Frontier
(DBN)

Southwest heavy favorite in Frontier fight
(DBN)

Frontier's next chapter
(DBN)

Frontier fate could realign DIA gates
(DBN)

Republic Airways parent closes purchase of Midwest
(DBN)

Lufthansa Cargo Loses $87 Million
(DBN)

Lufthansa Debt Rating May Be Cut to Junk by Moody's
(DBN)

Global Air Freight Fell 16.5 Percent in June
(DBN)

______________

Sports:

Arena Football League reportedly ready to fold
(DBN)

The Paulsons' Edifice Complex
(DBN)

Holy Cow! The Cubs' Sale Is Still in Limbo
(DBN)

_____________

 

New Bankruptcy Opinions
(3 new opinion today)

Bankruptcy Court Web/Pacer Site Directory

Chapter 7, 12 & 13 Private Trustee Locator
(DBN)

Recent Ch. 11 Filings
(DBN)

Bankruptcy Jobs:

(1)- (2)- (3)- (4)- (5)- (6)- (7)- (8)- (9)- (10)
(DBN)

This Week's Poll:

GM and Chrysler should have been allowed to undergo Ch. 11 bankruptcy without government support.

Click here to vote and see results

Last Week's Poll Results

____________

Bankruptcy Reform:

Sen. Durbin: We’ll ‘Be Forced Into Alternatives’ To Cram-Down, To Create ‘A New Climate Of Negotiation’
(DBN)

Durbin gives bailed-out banks 'cramdown' ultimatum
(DBN)

Rep Frank Warns Banks That Mortgage Bankruptcy Could Return
(DBN)

______________

Consultants:

In Huron scandal, shadows of Arthur Andersen
(DBN)

Huron Consulting Has Had Better Months
(DBN)

Huron Consulting loses senior management after accounting 'errors'
(DBN)

PwC aims to treble consulting income
(DBN)

Judge to Investment Bankers: Pigs Get Fat and Hogs Get Their Employment Denied
(DBN)

______________

Lehman:

Lehman Administrators Meet to Discuss Curbing Legal, Administrative Costs
(DBN)

______________

IP:

Protecting IP Rights From A Licensor's Bankruptcy: What You Need To Know About Section 365(n)
(DBN)

______________

Bankruptcy Statistics:

Hawaii bankruptcies in July up 72%
(DBN)

NW Ohio bankruptcy filings climb 29%
(DBN)

______________

Tax:

UBS deal will name names
(DBN)

______________

Corporate Governance:

Fiduciary Duties of Directors of Failing Companies
(DBN)

Chancery Court Grants Access to General Ledger and Right to Obtain Photocopies
(DBN)

______________

Insurance:

AIG taps former MetLife chief as CEO
(DBN)

AIG Has Created a Fantasy World Where Everything Is Fine
(DBN)

CNA Surges as Profit Exceeds Analysts' Estimates
(DBN)

How government programs are saving insurance companies from disaster
(DBN)

The D&O Link to FCPA Activity: The Follow-On Civil Lawsuit
(DBN)

______________

Mass Torts:

W.R. Grace Chapter 11
(DBN)

California jury awards $3.4M in asbestos case
(DBN)

______________

Bonuses:

Goldman employees told no big purchases
(DBN)

______________

Celebs:

Nicolas Cage gets $6.2 mn tax bill
(DBN)

Michael Jackson's Secret Legacy of Dicey Advisers and Vanished Cash
(DBN)

Jackson Songwriting Royalties Strike Right Note for New Band of Investors
(DBN)

Bowlen denies interest in Vick
(DBN)

Michael Vick community celebration postponed indefinitely
(DBN)

Goodell's support of Vick is puzzling
(DBN)

Budget Living Tips from Celebrities
(DBN)

Nevada Supreme Court Considers Releasing Simpson
(DBN)

______________

Bankruptcy Humor:

Bankruptcy Bill
(DBN)

______________

Personal Finance:

As debit-cards use surges, so do overdraft fees
(DBN)

Taxi Fares That Riders See as Fair
(DBN)

When Life Begins in a Shelter
(DBN)

______________

Credit Cards:

Credit card industry enters a new era
(DBN)

Fitch: Credit Card Charge-Offs Up, Delinquencies Down
(DBN)

______________

Private Equity:

Private Equity Circling Law Firms, Waiting for 2011?
(DBN)

Scaling The Mountain Of Buyout Debt
(DBN)

Private equity's worst year ever
(DBN)

Distressed buyers hungry for restaurants?
(DBN)

PE-Backed Bankruptcies Surpass 2008, And It's Only July
(DBN)

F.D.I.C. Seen Moving Fast on Private Equity: Sources
(DBN)

______________

Retailing:

Booted from Luxury's Lap
(DBN)

Who's Broke Now?
(DBN)

General Growth keeps securities markets on edge
(DBN)

______________

Pensions:

The next great bailout: Social Security
(DBN)

______________

Hotels:

Bank of America gets Kona hotel
(DBN)

______________

Academia:

Corporate Collapse, Crime and Governance - Enron, Andersen and Beyond
(DBN)

Corporate Insolvency and Self-Help in Six Asian Legal Systems
(DBN)

______________

Food/Drink:

Downturn Crushing California Wine
(DBN)

Professionals surprised to see their signatures on documents related to bankruptcy bid
(DBN)

______________

Boating:

Federal Help for Boat Dealers: All at Sea
(DBN)

______________

Solar:

Weak economy makes solar panels more affordable to homeowners
(DBN)

______________

Resorts:

Bankruptcy could be tossed for upscale Vineyard Resort
(DBN)

______________

Executive Compensation:

Does Executive Comp Cause Big Recessions?
(DBN)

______________

Newspapers:

Suicide squeeze at the Times?
(DBN)

______________

Magazines:

Cygnus Business Media files for bankruptcy protection
(DBN)

______________

Agriculture:

Low prices, big problems on farms
(DBN)

______________

UK:

Survey Reveals 1 In 3 Have Turned To Family For Help With Debts
(DBN)

British Banks' Profits Surprise
(DBN)

UK Fraud Authority Probes Structured Finance, Swaps
(DBN)

Banks not backing business, says TMA
(DBN)

Decrees against Scottish Businesses soar in Q2 2009
(DBN)

INM shareholder claims publisher could enter administration
(DBN)

UK Construction Shrank at Slowest Pace in 16 Months in July
(DBN)

UK's Nationalized Northern Rock Plans to Split
(DBN)

______________

EU:

Bargain-Hunting in Eastern Europe
(DBN)

Europe Manufacturing Contraction Slows More Than Estimated
(DBN)

European Producer Prices Drop Most on Record on Oil
(DBN)

______________

Canada:

Ambrilia to file for bankruptcy in Quebec
(DBN)

______________

France:

French farmers to be required to repay big subsidies
(DBN)

Agriculture minister holds urgent meeting over subsidies payback
(DBN)

______________

Russia:

Russia's PIK subsidiary faces bankruptcy lawsuit
(DBN)

One-Third of Russian Clothing Retailers Going Bust, European Exporters Say
(DBN)

______________

Germany:

Metro Reports Profit Less Than Analysts' Estimates
(DBN)

______________

China:

Beijing tries to cool off stock rally caused by stimulus spending
(DBN)

______________

Hungary:

Liquidations number reaches almost 70% of 2008 total
(DBN)

______________

 

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