June 2, 2009
The Daily Bankruptcy News
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Law:
King & Spalding Expands Its Financial Restructuring Group in New York
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Crankiness Abounds At First GM Bankruptcy Hearing
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Schulte, Skadden on Re-emergence of Delphi
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Orrick Representing GM Dealers
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Latham’s 68% Drop Puts Firm Atop List of Shrinking BigLaw Summer Programs in N.Y.
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The Few, The Brave, The Lucky (Or: The 2009 Class of Summer Associates in New York)
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Chicago firm to young lawyers: Take $100,000 pay cut
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Salary Cut Watch: Ballard Spahr Makes Personal Decision About Personnel
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Are Public Interest Lawyers Getting Crowded Out by Deferred Associates?
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Deferred and Looking for a Project? Go Save the American Auto Industry
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Tough Economy Takes Heavy Toll on Summer Associate Classes
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Curtis Mallet-Prevost Memo to Troops: No Chest Hair or Club Wear
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Skadden NY to Hand Sanitizer?
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Women in Law: Crunching the Numbers
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Saul Ewing picks up bankruptcy lawyers from Buchanan Ingersoll
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Morgan & Finnegan: What Went Wrong
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Dewey & LeBoeuf Sued for $3 Billion in Insurance Company Failure
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Two Former Thelen Employees Drop Suit
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Lawyer Wears Whatever Hat Suits Him At The Moment
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The Gene Cauley Story, Part 1: The Bill Lerach Years
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GM bankruptcy creates some work in Delaware
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Finish his law degree? No, Brian Deese has GM to dismantle.
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A case for refocusing young lawyers' goals
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Despite Salary Freeze, D.C. Lawyer Pockets More Money—Selling Mary Kay
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New Approaches, New Firms on Corporate Clients' Shopping Lists
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Supreme Court to Hear 'Bilski' Case on Business Method Patents
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Deanship at St. John's Law Passes From Father to Son
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Judges:
GM Bankruptcy Judge Gerber Is “Sharp,” Seasoned in Big Cases
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GM Bankruptcy Judge Approves Asset Sale on First Day
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General Motors' Fate in Hands of N.Y. Bankruptcy Court
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GM Bankruptcy Judge Robert Gerber Brings Exacting Style to Case
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Big case nothing new for bankruptcy judge
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Judge Has Unwound Other Cos.
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Sotomayor Set to Meet Lawmakers
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'Mystery' climate case might become issue in Sotomayor confirmation
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Conservatives Ask Republican Senators to Filibuster on Sotomayor
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Pen pals for 'Cupid' Sotomayor
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Sotomayor , Activism and Bias
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Dick Cheney gives Sonia Sotomayor a pass
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The Life of Sonia Sotomayor
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Nancy Drew a Big Draw for Supreme Court’s Female Justices
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Sotomayor's Law Clerks Praise Her in Letter
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Singlehandedly raising a Supreme Court nominee
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Facebook Friend Earns Judge a Reprimand
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Judge of the Day: Thor Anderson Doesn't Let His Personal Feelings Interfere with the Law
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Wall Street:
US Stock-Index Futures Decline
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UK Stocks Retreat
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Stocks rally after positive economic data
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Dow Jones swaps Travelers, Cisco for Citigroup, GM
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Layoffs:
National and State by State Unemployment Rates
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GM plant closings: 20,000 job cuts
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Corporate Reform:
Administration Is Near a Financial Overhaul Plan
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SEC watchdog probing possible employee disclosures
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Supreme Court justices could review Nacchio's case June 18
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Banking:
A wave of bank failures this year is expected to create a feeding frenzy among would-be buyers
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Consumer, commercial lending down in March for banks that took taxpayer money
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In Crisis, Banks Dig In for Fight Against Rules
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JP Morgan , American Express selling new stock
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Bank of America wins in $1 billion-plus California lawsuit
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Goldman Raises $1.9B From ICBC Share Sale
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Citigroup Treasury Stake Helped Prompt Ejection From Dow Index
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Citi halts severance payouts to some former execs
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National Australia Bank Fraud Case Gets US High Court Query
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Banks Forgo Profits to Show Bond Market Access, Barclays Says
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Oil/Gas:
Culprits in last year's energy spike reappear
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Insurance:
Prudential Financial declines to accept TARP funds; plans $1.25 billion common stock offering
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UK Insurers Headed for Surge in Recession Claims, Fitch Says
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Credit Reporting:
Credit scores are falling
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Municipalities:
California Leads Nation to Bond Default Abyss
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Economy:
Consumer spending dips, savings rate surges
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Reports signal improvements in manufacturing around the world
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Fed outlines rules for repaying bailout money
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Interest may wane in US toxic-asset plans -Geithner
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Geithner: China backs efforts to fight downturn
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Real Estate:
US construction spending posts surprising 0.8 pct gain in April; spending on home building up
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Pending US Home Resales Probably Climbed as Market Stabilized
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Congress puzzles Fannie Mae future
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US Marshals seize Hertel and Fowler's yacht, guns, and ammunition
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Judge Slaps Ameriquest Hard
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A tale of two mortgage modifications
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Autos:
GM Files for Bankruptcy Protection
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GM Wins Approval to Auction Assets to Create New Automaker
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The GM Fast Track
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Bankruptcy offers promise of new beginning
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Americans 'Don't Care' About GM, Bankruptcy-Stung Detroit Says
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G.M.'s Bankruptcy, by the Numbers
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GM's Plan: The Basic Outline
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Bankruptcy Pays 18% Stock Return in One-Week Trade as GM Enters Chapter 11
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Pain Spreads Through an Ecosystem of Companies
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Disposing of the Remains of the Old GM
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General Motors Asks Judge to Void Leases for Seven Corporate Jets, Hangar
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Critics attack government role
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No gain but we avoid a lot of pain
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Judge OKs use of GM bankruptcy financing
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Chrysler reorganization 'a cakewalk' compared to GM's bankruptcy hurdles
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Obama Sees ‘Painful’ Birth of New G.M.
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GM rescue fraught with political risks for Obama
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Ralph Nader: 'For GM's voiceless owners -- the common shareholders -- it is a wipeout'
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GM to Keep Five Members on Current Board
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Manic Monday: A GM Roundup
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Divine Intervention Sought For GM
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Auto industry restructuring puts Delaware out of the assembly business
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General Motors workers 'go with the flow,' hope for change after historic bankruptcy filing
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U.S. Is ‘Reluctant Shareholder’ as Bankruptcy Is Filed
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GM: Bigger than Kuwait, More Debt Than Mexico
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Chief restructuring officer guiding GM through bankruptcy
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Obama may find it tough not to meddle in GM affairs
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Documents: The GM Filing
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Sacrifices are needed to save GM, Obama tells Americans
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As GM goes, so could the U.S.
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Cantor: Americans' rights trampled by GM bankruptcy agreement
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G.M. Designates 14 Plants for Closing
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GM's bankruptcy filing just gives Michigan more to worry about
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AP Sources: GM to keep headquarters in Detroit
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Bing: RenCen incentives in flux
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Incentive planned to lure Fiat to Detroit suburb
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GM Settles on Buyer for Hummer
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Michigan Governor Granholm: GM bankruptcy means tough times
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After Many Stumbles, the Fall of a Giant
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Sad day knocks us down -- not out
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Near-death GM has no room to relapse
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W. Pa. companies among largest General Motors creditors
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G.M.’s Bankruptcy: Q&A
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Obama says it again: GM will back warranties
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Big role in Chapter 11 drama for Wilmington Trust
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Michael Moore: Goodbye, GM
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Too many hands on GM's wheel
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Ford gets bupkis for its financial virtue
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Ford Boosts Production With US Rivals in Bankruptcy
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Chrysler moves closer to exiting bankruptcy protection
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Chrysler bankruptcy defies the experts
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Let's Try This Again, Sub Rosa?
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Chrysler workers eager to return to jobs
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'Difficult time' for minority car dealers
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GM hopes to cut 2,100 dealers under Chapter 11
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Don't expect a GM fire sale
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GM Has Been Bankrupt for Years
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GM CEO, Chrysler president to testify before US Senate
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GM cutting 3,000 white-collar jobs
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GM custom likely over for many
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Another gut punch to workers
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Dealers, retirees have concerns over GM bankruptcy
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The Butterfly Effect: How the GM bankruptcy will impact us all
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Lear Puts Off $38 Million Notes Payments to Save Bank Loans
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Auto suppliers brace for uncertain summer
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With Sale, G.M. Europe Avoids the Fray
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GM says no impact from bankruptcy on China operations; looking for growth opportunities
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Japan business lobby worried about fallout from GM bankruptcy, but hopes for GM comeback
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Japan new auto sales slump 19 percent in May as recession hits consumers
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South African Vehicle Sales Drop 35% as Recession Cuts Spending
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(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:
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Executive Compensation:
GM Prohibited Executive Severance as a Loan Condition
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Venue:
The Minnow & the Whale
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A Forum Shopping Update
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DIP Finance:
What?
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Credit Cards:
Moody's Investors Service cuts Discover Financial senior unsecured rating to 'junk' level
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Fraud:
Stanford bank investors may get portion of funds back
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State will allow Madoff victims to write off losses
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Health Care:
Cost Control: Docs, Hospitals, Insurers, Labor & Industry
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Congress's Health-Care Push Gains Momentum From Exploding Costs
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Apparel:
Judge holds hearing in Obama suit-maker bankruptcy
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Shift by Hartmarx Reopens Bidding
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Gambling:
Perfect timing helps investor group including Icahn land Atlantic City's Tropicana casino
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Station Casinos Halfway Through Its Nine Lives
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Advertising:
Hearst’s Contrarian Strategy Pays Off
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Although GM already owes millions of dollars for ad time and space, it probably won't have any trouble buying even more
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Packaging:
Constar emerges from bankruptcy
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Consultants:
BearingPoint, PGA Reach A Deal
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Distressed Investing:
To this financier, Michael Jackson is an undervalued asset
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Retailing:
Ex-Kmart CEO liable for investor deception
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Biotech:
Northfield Laboratories files for bankruptcy
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Enron:
Former Enron broadband CFO pleads out in Houston court
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Former Enron Exec Could Get Home Confinement After Plea
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Metals:
GM bankruptcy closely watched by provider of precious metals for cars Stillwater Mining
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Textiles:
Carolinas car fabric makers anxious
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Agriculture:
Frustration builds over processors' profits, failing farms
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Tax:
Thirty countries crack down on tax evaders
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Religion:
Judge sets Nov. 30 deadline for claims
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Newspapers:
Newspaper ads drop 30% in 1st quarter
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Boating:
Genmar files for Chapter 11 bankruptcy
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Derivatives:
GM's bankruptcy and credit-default swaps
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UK:
Britain's manufacturing recession eased in May for third month running, survey finds
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Honda workers set to return to work in UK after 4-month layoff and a pay cut
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UK Mortgage Approvals Increased to Highest in a Year in April
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Big Four firm advised Gordon Ramsay Holdings to go into administration after ill-fated global expansion
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EU:
Europe Unemployment Rate Rises to Highest Since 1999
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India:
India's merchandise exports plunge by 33.2 percent in April, worst fall since 1991
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Germany:
After Opel, Germany's Next Bailout?
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Hypo Real Estate Will Need More State Aid, Chief Executive Says
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Japan:
Sony Financial Plunges on Insurance Value, Ratings
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