June 9, 2009

The Daily Bankruptcy News

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Law:

Challengers Try to Block Chrysler Sale at US Supreme Court
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What's Bothering Ruthie? Chrysler Bankruptcy Sale Opinion Analysis
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Chrysler Appeal -- Stay Edition
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US top court to decide bankruptcy advice case
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NY bankruptcy courts fill up
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Army of 500 lawyers retained for auto deals
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Why it will be good to be a bankruptcy lawyer
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Logan Yumkas Beefs Up Bankruptcy Practice
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Arnstein & Lehr Adds To Chicago Bankruptcy Practice
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Justice Ginsburg Stays Chrysler Sale, For Now
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The Bankruptcy Files: The Non-GM Edition
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Hiring Attorney at Center of Madoff Fraud Case Lifts a Law Firm's Profile
(WSJ: separate paid subscription required)

Jones Day Continues Landing Laterals
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Wiggin and Dana Defers Incoming Associates to February 2010
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Shipman & Goodwin Defers Associates
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Herbies' PEP plummets
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Staff & support: the overlooked tragedy of law firm layoffs
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Has there been a worse year to be reviewed for partner?
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How to Take Control in a Down Economy
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The End of Biglaw?
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Virtually Practicing
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JPMorgan Beefs Up Law Firm Group Leadership
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WilmerHale Hires Operational Wisdom, From Heller Ehrman
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A White & Case Study
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Firms Follow National Trends With Deferrals, Smaller Associate Classes
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Madoff Part Two: Ascot Partners Turns Defendant
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Allen Stanford's New Lawyers: Admiralty And Maritime Law Experts
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Conn. AG Probes Law Firms Involved in Mortgage Foreclosures
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Law Firms Probed in Mortgage Foreclosure Cases
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Legal Quirk Lets Anyone Sue Firms Over Old Patents
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Supreme Court takes corporate diversity jurisdiction, bankruptcy cases
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Cert Petition for United Student Aid Funds v. Espinosa re res judiciata of Chapter 13 Plan
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Sue, Evan Dando, Sue!
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At Latham, Forever in Blue Jeans (at Least Through August)
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Sweeping Accreditation Review May Prompt 'Sea Change' in Law School Evals
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Great News! Cooley is Opening Another Law School Campus. Yay!
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Fordham Law Grads Share Their Hopes and Dreams with New York Mag
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Sorry About Your Little Crimson Diploma, Bro'
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Climbing Everest Also Tested Lawyer’s Practice Management Skills
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Judge Tosses Much of Campaign Contributions Case Against Katrina Lawyer
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Lawyers Eager to Join JAG Corps
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Chicago prosecutor threatens to sue book publisher
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Lawyer of the Day: You Can't Kill a Good Lawyer, Even if you Drop Her Out of a Plane
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How to make friends and influence judges
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Judges:

Supreme Court: Judges must step aside when there's perception of bias
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Massey Coal Ruling Getting Thumbs Up in Judicial Circles
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Justices Set New Standard for Recusals
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Honest Justice
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Best judges money can buy
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Sotomayor Fractures Ankle in New York Airport Stumble
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First of All, Her Family's From Puerto Rico, Not Mexico: Cartoon Depicts Sotomayor as Pinata
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How Sonia Sotomayor Spends Her Money
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An Ivy-Covered Path to the Supreme Court
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Lawyer Says Judge Is Picking on Him and He Can Prove It
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Wall Street:

Obama Says Market Shows More Confidence in Recovery
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Most Stocks Retreat, Treasuries Decline
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Money Flow Shows S&P 500 Advance May Stall
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Dead Dog Survey (Part 1)
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Papering over the rot- Nothing is changing on Wall Street
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Layoffs:

National and State by State Unemployment Rates
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Manpower report indicates the need for more employees is near
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M&A:

A Showdown In The Lone Star State
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Retailing:

Talbots to sell J. Jill assets for $75M
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Goldman Sachs: Pay Us Anyway, Please.
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Gottschalks closure hurts charities
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Retail Sales Probably Rose on Auto Demand
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Food/Drink:

McDonald's Falls After May US Sales Trail Analysts' Estimates
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Corporate Reform:

US Financial Reforms Pared Back
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Wells Fargo's Evergreen paying $40M in SEC accord
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Dennis Kozlowski's appeal rejected by Supreme Court
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Former Bristol-Myers Executive Sentenced to Write Book
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Wall Street is a willing partner in financial reform
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Lewis and Cohan call for the revolution
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Newspapers:

Globe's largest union rejects cuts
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Report: Zell might lose reins of Tribune
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Tribune Co. likely to go to creditors
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9 Questions for the Ailing Newspaper Industry
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Aviation:

Airline industry faces worst 'meltdown' in history: IATA
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Frank Words to Workers About a Carrier's Future
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Stock positions see more downside for US airlines
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$6 million loan going to Midwest Airlines
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Bankruptcy Statistics:

Bankruptcy Filings Up More Than 33 Percent
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Bankruptcy filings explode in Arizona
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Bankruptcy filings soar in Florida's Middle District
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Minnesota bankruptcies up 38 percent
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Business bankruptcy on rise in Middle Tenn.
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Resorts:

Double JJ sale loan awaits federal OK
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Yellowstone Club's Edra Blixseth faces forced sale of assets
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Resort safe from bankruptcy of parent company
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Municipalities:

Low auto sales sink cities' tax revenues
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Archibald: Jefferson County not just broke, but broken
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Financial problems worsen in Alabama county
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Unions Forcing Cities to Pay For Services They Can't Afford
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California contemplates ultimate reform - no welfare
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Is California Too Big To Fail?
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Apparel:

Schumer, Workers Rally for Hickey Freeman Jobs
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Horse Racing:

TOC Among Interested Santa Anita Bidders
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Publishing:

Literary publisher Arcade files for bankruptcy
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Bonds:

Junk bond funds' run is expected to hit wall soon
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Environmental:

Bankruptcy court allows Asarco to set up custodial trusts
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Radio:

S&P cuts Clear Channel credit ratings
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Private Equity:

Warburg Pincus bails out of Huiyuan Juice
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Advertising:

Ad Spending Declines Reach Double Digits, Nielsen Says
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Economy:

Treasury Expects $50 Billion TARP Payback
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Treasury Gets Its Money Back And Can Afford To Save Another Industry
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Making Up Values
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Recessionary datapoint du jour, food stamps edition
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Obama Announces Projects to Boost Jobs, Says Economy Has `Long Way to Go'
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Obama Tells American Businesses to Drop Dead
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Hiring still sluggish - survey
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The Media Fall for Phony 'Jobs' Claims
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Stimulus funds for 'job creation' go to prevent teen pregnancy in Ohio
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The best investment the U.S. didn't make
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IMF, World Bank say recovery process still fragile
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IMF chief says 'rapid inflation' after recovery a risk
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World Bank boss sees China spurring global recovery
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Pimco Says 'Rate Hikes Will Be Some Time in Coming'
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AP: Obama repackages stimulus plans with old promises
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Nobel Laureate Krugman Says U.S. Will Emerge From Recession by September
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Obama's spending drive focuses on jobs
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Top Chinese banker: 'US should issue bonds in yuan, not $
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Economic Stress Map
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Real Estate:

Are Increasing Numbers of Homeowners Withholding Their Mortgage Payments?
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US Home Prices May Fall for Years, Shiller Says
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Dallas-Fort Worth pre-owned home sales fall 24%
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Demand for Houston office space drops
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Commercial foreclosures double: But they still trail residential numbers
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Apartment financing downturn may spur home sales
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Opus West weighs bankruptcy
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Trustee: Cedar funding under federal grand jury investigation
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WL Homes Bankruptcy Case Converted to Liquidation
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Creditors hit Royal West Properties: High-profile business leader's firm may go into involuntary bankruptcy
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Massive Columbus foreclosure case shows how some landlords take advantage of a $56 billion no-fault fund, leaving taxpayers on the hook for millions and tenants living in squalor
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Foreclosure Mediation Becomes Mandatory
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Regulator Says Mortgage Aimed at Elderly May Be Risky
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Some owners who used homes to buoy finances are sinking
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Bankruptcy Humor:

GM First Day Hearings
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Autos:

Supreme Court Grants Stay of Chrysler/Fiat Ruling
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In Supreme Court, Chrysler bankruptcy paves new legal road
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Not So Fast, Mr. President
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Chrysler's Bankruptcy : Too Fast, Too Furious?
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Chrysler ruling could be just a bump in road, experts say
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Pension funds win round but could lose out in end
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Supreme Court extends stay as it reviews Chrysler sale
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Justice Ginsburg's Stay of Chrysler Sale Defends Rule of Law
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Chrysler-Fiat Deal on Hold
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Some Thoughts on the Chrysler Bankruptcy and Supreme Court Stay
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Fiat won't walk away from Chrysler deal: spokesman
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That wasn't so smart
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Indiana vs. Chrysler: Was TARP Used Illegally?
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US govt urges top court to allow Chrysler sale
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Chrysler's Bankruptcy : Too Fast, Too Furious?
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Obama lawyer: Chrysler-Fiat must be allowed
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Who Wins in Chrysler-Fiat Deal?
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Ginsburg in driver's seat on Fiat-Chrysler merger
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Mice Roar At Fiat Deal
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Chrysler management changes coming
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Some Chrysler sellers start a new chapter
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An Indiana Long Shot Over Chrysler at the Supreme Court
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AlixPartners L.L.P. paid $40 million for services prior to GM bankruptcy
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GM: Take This Screwdriver And Shove It
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GM's stock pops up but it won't last
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We Like the New GM Ad and We're Not Ashamed to Admit It
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Asbestos claimants say they've been left out of GM talks
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If Congress ran a car company
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Bush officials challenge Obama aide account of auto restructuring
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Chrysler-Fiat Deal: US Government as “God”
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Saving Saturn In Chattanooga
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GM's UAW retirees to lose Delta Dental coverage
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UAW locals to vote on concessions Wednesday
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Visteon Creditors Prepare For A 'Spaghetti Western' Bankruptcy
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Visteon's tricky bankruptcy
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US Auto-Parts Supply Trade Groups to Request New Aid Program
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Car suppliers fall as analyst cuts estimate for Barnes
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Delphi plant in Athens closing after 35 years
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GM to halt medium-duty truck production, no buyer
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GM's 'Reinvention' Starts With A $25M Battery Lab
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On the GM bankruptcy : Texas, like GM, lagging
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Ford Tells Lawmakers Rival GMAC Gets Cost Advantage
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Ford Credit: No fed aid a plus
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Right-wing radio hosts back GM boycott
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Ford Getting A Little Sick And Tired Of Being Peed On By The Government
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Michigan Leading Economic Indicator down 0.6 points
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May Car Sales : Worst May Be Over
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Dealers bitter over ouster by Chrysler
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GM reaches agreement with dealers
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GM's decline is sobering at the corner bar
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Ron Bloom to testify on GM, Chrysler restructuring
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Car sales growth may take U-turn: SIAM
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Lee Makes Direct Appeal to President Obama Demanding Fairness for Delphi Salaried Retirees
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Proposed Legislation Will Offload GM And Chrysler Stock Into Taxpayers Hands
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Shares of automotive suppliers fall
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Three groups bid for Saab in spin-off
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BMW, Audi, Daimler: Car Sales Down but Not All Bad
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China Car Sales Jump Most Since 2006 on Government Stimulus
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Porsche Says It's in Talks With Qatar Over Investment
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Derivatives:

GM Credit Swaps Traders Said to Speed Auction Amid Bankruptcy
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GM Loan, Credit Swaps Wager May Offer One of 'Greatest Payoffs'
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CDS growth may increase corp bankruptcy risk-Moody's
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'Fierce Rally' Under Way for Leveraged Loan CDOs
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Muni Swaps Must Be Included in Derivative Rules, Regulator Says
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Agriculture:

Agriprocessor Heads for a Comeback
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Oil/Gas:

Crude Oil Extends Gains After US Dollar Drops Versus Euro
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High Gas Prices Could Slow Recovery
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Oil-Sands Credit Threatened by Prices, Higher Costs, S&P Says
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Natural Gas Cheapest to Oil Since 1992 Signals Gain
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Ethanol:

Ethanol Makers Still Trying to Catch a Break from Banks, Debt Holders
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Biofuel caution
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Northwest's biofuel boom goes bust
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Personal Finance:

The yard sale boom
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Frugal moms' online chats gaining an audience
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Trouble for Trustfunders
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For Some, There is No Recession
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Finding Happiness in Less
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Auto Racing:

Chrysler bankruptcy forces RPM cuts
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New Bankruptcy Opinions
(3 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)
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Bankruptcy Reform:

CUNA Opposes Revision of Bankruptcy Law
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Justices to Weigh Constitutionality of Controversial Bankruptcy Reform Act
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Venue:

Delaware takes back seat to Big Apple in bankruptcy cases
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Banking:

Banks await gov't OK to repay TARP
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Rolling up TARP: Will it be strong banks vs. weak?
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Watchdog wants stress test do-over
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Fed Accepts Plans From Stress-Test Banks Needing More Capital
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Financial stocks dip ahead of expected TARP talk
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US Fed: Tarullo Says Higher Capital Requirements Are Needed
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Why the FDIC shut down Silverton
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Citigroup Gains Geithner Backing as Pandit Bucks Bair
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Bair's defeat and Beltway politics
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Citi to launch exchange offers later this week
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Bank of America Says Ward, Mitchell Resign From Board
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Bank of America's Chapin, Ex-Kozlowski Banker, Leaves
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In Ads, Banks Try the Warm, Cozy Approach
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SunTrust Offer Gives Lender 96% of Stress-Test Goal
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Up to Nine Banks Could Soon Be Allowed to Repay TARP
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Washington Mutual Inc. Shareholder Requests Equity Committee
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BlackRock Said to Offer Cash, Stock for Barclays Unit
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Swiss Officials in 'Detailed Talks' on UBS Investment
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Mass Torts:

Pioneering Mass Torts Judge Offers Impassioned, but Rueful, Defense of Personal Injury Class Actions
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Tech:

Nukote in Franklin files for bankruptcy
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Credit Cards:

More people delinquent on credit cards
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New credit card rules mean users can't afford misstep
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Gambling:

Plan has secured creditors taking over Greektown Casino-Hotel
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With Elvis-themed casino out, lenders want Strip property
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'Substantial' losses lead to Riviera stock delisting
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Icahn to rule Atlantic City once more
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Accounting:

Accounting Oversight Board Chairman Resigns
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Auditors raise doubts over 'going concern' concept during slump
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Hockey:

Tuesday's court proceedings could be huge for NHL, Balsillie
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A Tale Of Two Facebook Pages
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Balsillie v. Bettman is always personal
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Legal battle over Coyotes continues
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Fraud:

Madoff Victims Try To Out Ponzi The Ponz Himself
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Grant Thornton seeks court approval to seize Madoff assets in US
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Madoff Trustee Sued Over Payout Terms
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It's a World, World, World, World Madoff
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Allen Stanford lost at sea?
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Stanford case takes twist on fees
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N.Y. Businessman Pleads Guilty in Multimillion-Dollar Ponzi Scheme
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State probes adviser, alleges Ponzi scheme
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Celebs:

Vick to appear in bankruptcy court
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Insurance:

Reinsurers to Raise US Catastrophe Rates 15% as Demand Grows
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JG Wentworth gets $100M in new funds
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Awards:

Gardere's Bankruptcy Practice Recommended in Legal 500
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Health Care:

Medical bankruptcy will still happen
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Bankruptcies Brought on By Medical Costs and Changes in Bankruptcy Law
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Consultant discusses Sunwest rescue effort
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Sunwest's timeline of trouble
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Documenting a downfall
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Sunwest investors wait and wonder
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Sales:

Judges reject attempt to reverse campground auction
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Politics:

NY Republicans Regain Control of Senate as Democrats Switch
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Republicans snatch control of NY state senate... Dems Turn Off Lights, Cut Internet Power In Attempt To Halt
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Hedge Funds:

Hedge Funds Bouncing Back From 2008 Losses
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Building Materials:

Leaner Masonite to exit bankruptcy protection
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UK:

Bank of England May Expand U.K. Money-Printing Program
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Bob Brown almost bankrupt
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Bankruptcies rise among over-45s
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UK Currency Advances on Signs Housing Market Is 'Stabilizing'
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Lloyds Banking to Close 164 C&G Branches, Union Says
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PwC administrators appointed to Keydata Investment Services
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EU:

EU Finance Ministers May Reach Consensus on Financial-Oversight Proposals
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Economy Shows Cracks in European Union
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US to call for tougher EU stress tests
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Latvian Currency Gains Most Since 2006, Leads East Europe Rally
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Germany:

German Government Holds 90 Pct of Hypo Real Estate
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Arcandor Plunges as Spiegel Says Retailer Opts for Insolvency
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Arcandor's Ex-Chief Middelhoff May Be Investigated, Bild Says
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German shipyards fail despite state loans
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German Industrial Output Unexpectedly Falls on Investment Goods
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WestLB Was Nearly Closed, Saved By Banks' Guarantees
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Russia:

LDV in Bankruptcy After Sale Fails
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PwC forced to slash 95% of jobs after LDV collapse
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Weststar talks with PwC over LDV
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Holding's 6 Plants File for Bankruptcy
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Medvedev says bankruptcy law has to be improved for company
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Iceland:

Historian Releases Book on Iceland's Banking Collapse
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Canada:

Royal Bank Cuts Jobs in US Reorganization
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New Zealand:

New Zealand Home Building Falls for Sixth Straight Quarter Amid Recession
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India:

Indian Economy Can Grow at 9% Amid Global Recession
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Daily Bankruptcy News is published each business day by BKINFORMATION.COM, L.L.C.  You can reach us at 281-402-3957 or at accounting@bkinformation.com (email inquiries are usually answered substantially more quickly than phone inquiries).