March 18, 2009

The Daily Bankruptcy News

Also available on the Web (with links to the news stories) Click Here
Prior editions: Click Here
Search prior headlines: Click Here
Search prior New Opinions: Click Here

Law:

Group asserts that reducing attorneys' work hours makes more sense than layoffs
(DBN Subscription Required)

Morgan & Finnegan Files for Bankruptcy
(DBN Subscription Required)

Firm bosses in spat over billing
(DBN Subscription Required)

Good News: Big Bonuses; Bad News: Salary Freeze, McDermott Announces
(DBN Subscription Required)

Atlanta Firm Cuts 6 Incoming Associates; Nixes Summer Program
(DBN Subscription Required)

Holland & Knight: Latest Firm to Push Back Start Dates
(DBN Subscription Required)

De-Equitizing Partners May Not Be the Best Solution
(DBN Subscription Required)

The Profit Imperative
(DBN Subscription Required)

Battered Billables: Deeper Discounts Likely, Fixed Fees on the Table
(DBN Subscription Required)

Fried Frank Continues Wall Street's Losing Ways
(DBN Subscription Required)

Firm finalizes layoff program with 76 staff laid off
(DBN Subscription Required)

Law firms are keeping a closer eye on costs - but are clients convinced?
(DBN Subscription Required)

More Firms Get Gov't Money for Bailout Work
(DBN Subscription Required)

Notes from the Breadline: I Need A Strong Hit From the Money Machine
(DBN Subscription Required)

Bankruptcy Is A Bright Spot For Law Firms
(DBN Subscription Required)

The Bankruptcy Files: Door Makers, RV Manufacturers, Sports Museums, and Telecoms
(DBN Subscription Required)

The recession has given law firm leaders the incentive to make the tough decisions
(DBN Subscription Required)

Dissolved NY Firm Ordered Not to Leak Assets
(DBN Subscription Required)

Law Firms Blocking Access to Social Networking Sites
(DBN Subscription Required)

Lawyer Dreier Charged With Money Laundering In New Indictment
(DBN Subscription Required)

Prosecutors say Dreier bilked clients of nearly $700 million
(DBN Subscription Required)

Alleged Scammer's Lawyers Say They Want to Quit Because Government Won't Let Him Pay Them
(DBN Subscription Required)

Lawyers on ‘Heidi Fleiss of Houston’ Client List May Be Interviewed
(DBN Subscription Required)

______________

Judges:

Ginsburg to Undergo Chemotherapy
(DBN Subscription Required)

Justice Ginsburg Upbeat About Her Health
(DBN Subscription Required)

Justice Ginsburg: Chemotherapy ‘Not Expected’ to Affect Court Schedule
(DBN Subscription Required)

Justice Thomas Speaks His Mind on Americans and Their Leaders
(DBN Subscription Required)

Judicial Conference Adopts New Ethics Code
(DBN Subscription Required)

______________

Wall Street:

US Stock-Index Futures Decline
(DBN Subscription Required)

Seinfeld Stock Rally Is Built on Empty Chatter
(DBN Subscription Required)

US Stocks Advance After Unexpected Gain in Housing Starts
(DBN Subscription Required)

Asian Stocks Advance on Japan Bank Support, US Housing Starts
(DBN Subscription Required)

New Wall Street Sees Profits From Widening Spreads
(DBN Subscription Required)

Keefe Bruyette Cuts Goldman Sachs
(DBN Subscription Required)

______________

Bonuses:

US lawmaker eyes surtax on bailout firms' exec pay
(DBN Subscription Required)

Washington aims to get AIG money back -- one way or another
(DBN Subscription Required)

Armed guards posted outside offices
(DBN Subscription Required)

Seppuku at AIG
(DBN Subscription Required)

AIG--My Very Own Rick Santelli Moment
(DBN Subscription Required)

Cuomo Offers Some Details of A.I.G. Bonuses
(DBN Subscription Required)

Cuomo Cites 73 AIG Bonuses
(DBN Subscription Required)

What Did Geithner Know and When Did He Know It?
(DBN Subscription Required)

Obama Administration: We Didn't Find Out About AIG Bonuses Until This Month
(DBN Subscription Required)

AIG Chairman Inherits Retention Bonus Mess
(DBN Subscription Required)

AIG Plans $57 Million in Retention Pay for Dismissed Employees
(DBN Subscription Required)

Should we let the AIG bonuses go?
(DBN Subscription Required)

The Wheel Will Turn
(DBN Subscription Required)

AIG Bonuses Punish Mere Mortals Paying Geniuses
(DBN Subscription Required)

Paying Workers More to Fix Their Own Mess
(DBN Subscription Required)

The danger and distraction of outrage
(DBN Subscription Required)

Rage at the AIG Machine - Talk about slamming the barn door after the cows have gone
(DBN Subscription Required)

Barbarians at the bonus-gate
(DBN Subscription Required)

Are AIG Bonuses Ruining Obama’s Big Plans?
(DBN Subscription Required)

Dodd:Senate panel wants briefing on $163 million AIG bonuses
(DBN Subscription Required)

Amid AIG Furor, Dodd Tries to Undo Bonus Protections He Put In
(DBN Subscription Required)

More 'Cover My Behind' Letters On AIG Bonuses
(DBN Subscription Required)

Morgan Stanley should scrap $3 billion bonuses: senator
(DBN Subscription Required)

______________

Building Supplies:

Weyerhaeuser closing lumber mills in Ore., Okla.
(DBN Subscription Required)

Wood Structures hopes to nail down cash
(DBN Subscription Required)

______________

Ethanol:

Aventine says it may seek bankruptcy protection
(DBN Subscription Required)

ADM Passes on VeraSun Assets
(DBN Subscription Required)

VeraSun: Valero unit wins 7 plants with $477 million bid
(DBN Subscription Required)

______________

Retailing:

Options Traders Rally Around Target, Retailers
(DBN Subscription Required)

General Growth Wins Breather but Hedge Fund Manager Predicts Bankruptcy Filing Coming
(DBN Subscription Required)

______________

Gambling:

Trump wins a round in bankruptcy court
(DBN Subscription Required)

NJ casino board meeting today on Trop sale
(DBN Subscription Required)

Casino Giant MGM Mirage Loses $1.1B in 4th Qtr
(DBN Subscription Required)

MGM Mirage Gets Waiver to Avoid Loan Default
(DBN Subscription Required)

Harrah’s expects annual savings of $500 million
(DBN Subscription Required)

Harrah's Could Fold
(DBN Subscription Required)

MGM Mirage Says Auditors Question Ability to Continue
(DBN Subscription Required)

______________

Accounting:

FASB Acts!
(DBN Subscription Required)

Expedited fair value guidance may ease pressure on banks
(DBN Subscription Required)

______________

Resorts:

In This Market, What’s the Yellowstone Club Really Worth?
(DBN Subscription Required)

______________

Distressed Investing:

Goldman seeking backers for new global fund
(DBN Subscription Required)

______________

Hedge Funds:

Hedge funds start paying out
(DBN Subscription Required)

Hedge funds may get AIG cash
(DBN Subscription Required)

______________

 

 

Economy:

Row over AIG bonuses threatens Obama's economic plans
(DBN Subscription Required)

Housing starts surge; Wholesale prices edge up
(DBN Subscription Required)

US PPI Rises For Second Straight Month
(DBN Subscription Required)

Economic Data Offers a Balm as Fed Meets
(DBN Subscription Required)

Whatever Happened to Bankruptcy?
(DBN Subscription Required)

National debt hits record $11 trillion
(DBN Subscription Required)

Geithner faces critical test over plan
(DBN Subscription Required)

Fed Scopes Out Options With Key Rate Near Zero
(DBN Subscription Required)

Dem Rep. Miller Interview: No 'Change I Can Notice' At Obama's Treasury
(DBN Subscription Required)

Auto Loan Delinquency Forecasts Point to Lack of Consensus About the Economy's Bottom
(DBN Subscription Required)

What price a warrant?
(DBN Subscription Required)

The New Hard Times
(DBN Subscription Required)

President Barack Obama: Perhaps he can't fix it. . .
(DBN Subscription Required)

______________

Real Estate:

Freddie Mac: The Government's Next Black Hole?
(DBN Subscription Required)

Frank Prepares Bill to Revamp Fannie, Freddie
(DBN Subscription Required)

Housing starts surge 22% on apartment building
(DBN Subscription Required)

The Biggest Surprise in the Housing Data: Single-Family Permits
(DBN Subscription Required)

A Higher Bar For Those Low Mortgage Rates
(DBN Subscription Required)

Thornburg Considers Bankruptcy , MatlinPatterson Says
(DBN Subscription Required)

Matlin Patterson on the Verge of a Large Rout
(DBN Subscription Required)

Hard Times for Hovnanian’s Jersey City Condo
(DBN Subscription Required)

11 mortgage lenders sued over Wesley Snyder fraud
(DBN Subscription Required)

Cracking the New Homebuyer Credit
(DBN Subscription Required)

______________

Fraud:

IRS Plans a Deduction for Madoff Victims
(DBN Subscription Required)

Madoff's victims can deduct losses in '08 - IRS grants break on investment and 'phantom' income, but carry-back varies
(DBN Subscription Required)

Madoff Business Interests Include Mets Owner Wilpon’s Fund
(DBN Subscription Required)

His Middle Name is O; The Man Behind the Madoff Prosecution
(DBN Subscription Required)

How the 'Madoff twist' entices the astute
(DBN Subscription Required)

______________

Newspapers:

Does the Seattle PI Going 100% Web Signal the End of Newspapers?
(DBN Subscription Required)

'Seattle PI' Triples Final Single-Copy Press Run
(DBN Subscription Required)

Wholly Digital - Seattle PI Tests New News Business Model
(DBN Subscription Required)

Judge: Journal Register can pay newsprint maker
(DBN Subscription Required)

Gannett: Sale Talks Delay Citizen's Closing
(DBN Subscription Required)

______________

Personal Finance:

Stress So Bad It Hurts
(DBN Subscription Required)

______________

Lehman:

New Jersey Sues Lehman Executives Over Pension Losses
(DBN Subscription Required)

PwC push for Lehman's Scheme of Arrangement
(DBN Subscription Required)

______________

Health Care:

OMB’s Orszag and GM boss Wagoner warn on health care costs
(DBN Subscription Required)

Renaissance Hospital Expected to Remain Open Under New Ownership
(DBN Subscription Required)

Kessler closes
(DBN Subscription Required)

Mountain View wins cash use
(DBN Subscription Required)

Spring Pointe may get adviser
(DBN Subscription Required)

Forum checks in for Ch. 11 stay
(DBN Subscription Required)

Health care overhaul may cost about $1.5T
(DBN Subscription Required)

______________

Bankruptcy Statistics:

California showed fastest rise in bankruptcies last year
(DBN Subscription Required)

CA Central Valley bankruptcy filings up 79% in 2008
(DBN Subscription Required)

______________

Insurance:

Is AIG Insolvent?
(DBN Subscription Required)

AIG Consumer Lender, Plane Unit Downgraded by Moody’s
(DBN Subscription Required)

A.I.G.’s Bailout Priorities Are in Critics’ Cross Hairs
(DBN Subscription Required)

Bonus outrage could put AIG in bankruptcy
(DBN Subscription Required)

White House Cheat Sheet: Cleaning Up the AIG Mess
(DBN Subscription Required)

New York Ins. Dept. Considers Revised Reg. on D&O Ins. Duty to Defend Issue
(DBN Subscription Required)

______________

Mining:

Asarco files reorganization plan based on Sterlite sale
(DBN Subscription Required)

Asarco revises reorganization plan
(DBN Subscription Required)

______________

Rating Agencies:

Warren Buffett Unusually Silent on Credit Rating Agencies
(DBN Subscription Required)

______________

Media:

Don't Blame Jim Cramer
(DBN Subscription Required)

Financial Journalists Fail Up
(DBN Subscription Required)

______________

Metals:

Aleris wins $1 bln in bankruptcy financing
(DBN Subscription Required)

______________

Prepacks:

Bankruptcy protection at top speed
(DBN Subscription Required)

______________

Art:

Arts Groups Lose Out in Fight for Funds
(DBN Subscription Required)

Jerry Springer: Savior Of The Arts?
(DBN Subscription Required)

______________

Credit Counseling:

Credit repair companies charged with deceiving consumers
(DBN Subscription Required)

______________

Valuation:

Hey, Guys—I Want My Pay Cut Back!!!!
(DBN Subscription Required)

______________

Jewelry:

Belgium’s Polished Diamond Exports Dropped 33% in February
(DBN Subscription Required)

______________

Shipping:

Ship owners in stand-off with banks
(DBN Subscription Required)

______________

Tax:

HMRC launches Barclays tax probe
(DBN Subscription Required)

Barclays defends its tax structuring
(DBN Subscription Required)

Swiss banks divided on tax evasion move
(DBN Subscription Required)

______________

Corporate Reform:

Regulator Weakness Cited in Report
(DBN Subscription Required)

With Prison Looming, Nacchio Pulling Out All the Stops
(DBN Subscription Required)

_____________

 

New Bankruptcy Opinions
(1 new opinion today)

Bankruptcy Court Web/Pacer Site Directory

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

Recent Ch. 11 Filings
(DBN Subscription Required)

Bankruptcy Jobs:

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

____________

Autos:

GM CEO says bankruptcy would cause liquidation
(DBN Subscription Required)

Wagoner Says Ford’s UAW Trust Accord Won’t Work at GM
(DBN Subscription Required)

Task Force Open to Auto Aid, Avoiding Bankruptcy , Rattner Says
(DBN Subscription Required)

Car czar's bankruptcy talk sounds like an empty threat
(DBN Subscription Required)

General Motors Check Mates Obama In Two Moves
(DBN Subscription Required)

What's Good for General Motors . . . Would Be a Miracle
(DBN Subscription Required)

GM to meet in Detroit
(DBN Subscription Required)

Chrysler Seeks More Aid for Finance Arm, Chief Says
(DBN Subscription Required)

Chrysler CEO encouraged by task force progress
(DBN Subscription Required)

Suppliers' stability 'more precarious,' Wagoner says
(DBN Subscription Required)

Supplier aid to be decided this week
(DBN Subscription Required)

Exec: No Hope for Janesville GM Plant
(DBN Subscription Required)

GM and Chrysler Are Headed to the Altar
(DBN Subscription Required)

Prebul Auto Trustee Asks Bensusans To Return Millions
(DBN Subscription Required)

Detroit plots green future as its bailout plan
(DBN Subscription Required)

Lear warns of bankruptcy risk, in creditor talks
(DBN Subscription Required)

What can GM be thinking?
(DBN Subscription Required)

Chrysler, CAW face clash over wage cuts
(DBN Subscription Required)

Nissan to Sell $1.3 Billion of Auto Debt Through TALF
(DBN Subscription Required)

Germany May Help Opel Once GM Presents Plan, Guttenberg Says
(DBN Subscription Required)

______________

Food/Drink:

Food World owner warns of possible layoffs
(DBN Subscription Required)

DIP loan eludes Chloe Foods
(DBN Subscription Required)

______________

Layoffs:

Caterpillar cuts another 2454 jobs
(DBN Subscription Required)

______________

Aviation:

The United Airlines Bankruptcy, Causing Headaches Five Years Later
(DBN Subscription Required)

United’s Legal Move Stokes Tension Among Pilots
(DBN Subscription Required)

______________

Municipalities:

For Prichard, is it time to shut down?
(DBN Subscription Required)

Unions must deal with reality: Court ruling makes that clear
(DBN Subscription Required)

______________

Banking:

FDIC Boosting Fees for US Lenders Tapping Debt Guarantee Plan
(DBN Subscription Required)

Goldman risks Tarp rage to protect business model
(DBN Subscription Required)

Crisis Having "Major" Impact on Central Bank Reserve Management
(DBN Subscription Required)

Citi Economist Heads to Treasury
(DBN Subscription Required)

______________

Exemptions:

Homestead laws could protect Madoff mansion in Palm Beach
(DBN Subscription Required)

______________

IP:

IP sales expected to climb as funding sources dry up
(DBN Subscription Required)

______________

UK:

UK Unemployment Rises Most Since at Least 1971
(DBN Subscription Required)

UK Seeking Ways to ‘Stabilize’ Housing Market, Beckett Says
(DBN Subscription Required)

Former chancellor demands action against bank auditors
(DBN Subscription Required)

UK Conservatives Keep Lead as Voters Seek Change
(DBN Subscription Required)

Bank of England Votes Unanimously to Print Money
(DBN Subscription Required)

Call for action on loan sharks
(DBN Subscription Required)

Brown signals measures to aid debtors
(DBN Subscription Required)

Credit crunch costs Britons £40,000 each
(DBN Subscription Required)

______________

EU:

Europe should 'focus on short-term survival'
(DBN Subscription Required)

EC promises financial 'tough love'
(DBN Subscription Required)

______________

Canada:

Canadian Fund Loses C$108 Million After Missing Collateral Call
(DBN Subscription Required)

Canadian Superior battle heats up
(DBN Subscription Required)

Canadian banks turning down government aid
(DBN Subscription Required)

______________

Germany:

German Lawmaker Committee Backs Hypo Real Nationalization Bill
(DBN Subscription Required)

Merkel’s Coalition Parties Decline in Poll as Crisis Worsens
(DBN Subscription Required)

______________

Russia:

Kremlin Signals a Harder Line
(DBN Subscription Required)

Kremlin to Pitch New Global Currency
(DBN Subscription Required)

______________

Italy:

UniCredit Net Slides; Bank May Seek EU4 Billion in State Aid
(DBN Subscription Required)

Milan Luxury Project Stalls as Zunino’s Debt Mounts
(DBN Subscription Required)

_____________

Japan:

Japan Keeps Rates Unchanged at 0.1%
(DBN Subscription Required)

______________

China:

China’s Economy May Be Stabilizing, World Bank Says
(DBN Subscription Required)

World Bank Lowers China Forecast
(DBN Subscription Required)

BoCom Has First Profit Drop in 3 Years on Provisions
(DBN Subscription Required)

Ghosts of a Faded Gilded Age Haunt a 19th-Century Chinese Banking Hub
(DBN Subscription Required)

Mr. Wen's Debt Bomb
(DBN Subscription Required)

_____________

India:

India’s Economy May Grow 5%-7% in Next Fiscal Year
(DBN Subscription Required)

______________

Bulgaria:

Bulgaria Municipalities Face Bankruptcy over Crisis Measures
(DBN Subscription Required)

_____________

South Africa:

South African Retail Sales Unexpectedly Increase 1.7%
(DBN Subscription Required)

______________

Please note that the Daily Bankruptcy News is primarily a news link gathering service.   This means that most of the headlines contained in the publication are a collection of links to stories posted on the Internet by various third party publications.  Such content is owned by third party sources, not the Daily Bankruptcy News, and in some cases, these links change or expire, which means you may not be able to view some news stories in prior editions of the Daily Bankruptcy News. The DBN subscription fee for access to certain links is not a fee for access to the content of the links, but is a charge for the considerable work involved in gathering, organizing and presenting the links. Use of this site and The Daily Bankruptcy News is subject to our Terms of Use.If you received the Daily Bankruptcy News via email (and you have a paid subscription account), to view a news story, click on the headline, and the story should open in your web browser. To view additional stories, click back to the email and click on additional headlines, which will cause new stories to open in your web browser.  You can view the Daily Bankruptcy News on the web by clicking here, or by going to BKINFORMATION.COM and clicking on the Bankruptcy News button.  Note that the Daily Bankruptcy News is distributed via "HTML email" in which the links to the news stories are embedded in the headlines.  The email you receive should look like a 3-column newspaper, with headlines for each story. If you receive the Daily Bankruptcy News by email and the copy you receive is not formatted like a 3-column newspaper, or does not seem to contain links to the news stories, you may have an email client that is not capable of receiving HTML email, or is not configured to display such email.  You can however, receive a daily email notifying you when the Daily Bankruptcy News is updated on the web site. If you would like to receive such an email, please let us know at admin@bkinformation.com.You can search the headlines from prior editions of the Daily Bankruptcy News by clicking here.

Advertising
Advertising is available in the Daily Bankruptcy News in a variety of places, formats and prices. Go to http://bkinformation.com/DBN_ADs.htm  for a list of choices.  Feel free to contact us with any questions.

Passwords
Access to certain links in the Daily Bankruptcy News is available only to readers holding a paid subscription.  These links are currently marked with a "DBN Subscription Required" notation. The cost of a subscription is $55/year, payable annually.  Volume discounts are available for sites with multiple users. Click here to see a schedule of discounts. Complimentary subscriptions are available for full-time educational and governmental employees and for full time students. For information about discounts or educational/governmental subscriptions, contact us by clicking here. A separate password is required for each member of a firm wishing access to restricted links. New readers can receive a free password good for 30 days by going to http://bkinformation.com/RegistrationForm.cfm. Refunds are not available after purchase. Readers who wish to change their passwords should go to http://bkinformation.com/ChangePasswordForm.cfm. Readers who have forgotten their password should go to http://bkinformation.com/GetPassword.cfm

Adding Your Email Address To The Distribution List
If you would like to start receiving the Daily Bankruptcy News by email each day, go to http://bkinformation.com/SubscribeDBNForm.cfm  and fill in the information requested.  There is no charge to be placed on the distribution list to receive the headlines, although access to many of the links behind the headlines requires a paid subscription (see above, under Passwords). If, after adding your email address to the distribution list, you do not receive an email confirming the addition, please contact us by clicking here for help.  

Removing Your Email Address From The Distribution List
If you already receive Daily Bankruptcy News by email and you wish to remove your email address from the distribution list, click here and send the email that should appear.  Note that the email must be sent from the same email address at which you are receiving the Daily Bankruptcy News. You do not need to type anything in the body of the email message.   If you do not receive an email confirming deletion of your email address from the distribution list  for the publication, contact us by clicking here for help.

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).