Law:
DLA Piper to Cut Most Partners' Pay
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Troutman Sanders to Buy Out Staff, Lay Off Associates
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Troutman Sanders Voluntary Departure Program
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Last Week In Layoffs
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Everything's Loud in Texas, Except the Layoffs
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Casualties in Latest BigLaw Layoffs?: 23 Lawyers, 80 Staffers, and a Hefty Paycut for Many
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Cutbacks continue as 2,751 legal staff reach end of line
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Oops. Major NE Law Firm Isn't Bankrupt
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Madoff, Stanford, Recession Push Top U.K. Lawyer Fees as High as $1,440
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Large bankruptcies are coming in waves now, and the professionals working on them are in for the rides of their life
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Mayer Brown Expects to Cut Up to 55 People in UK; Memo Spurs Fears of More
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Stroock Adds To Bankruptcy
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Dreier’s Star-Studded Client List
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Trustee: New Dreier Indictment Affects Value of Firm's Assets
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Dueling Law Suits Aim to Carve Up Dead Firm's Carcass
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Attorney is disbarred after cheating bankruptcy clients
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Collection Lawsuits on the Rise
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Insurers threaten hikes as negligence claims rise
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Harsh Times Have Clients Grousing About the Billable Hour
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Skadden Lawyers Jump on the Startup Law Firm Bandwagon
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Beware the Causes of Burnout
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Yes Woman
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Lawyer Fired Over Personal Use of Office Credit Card, Computer
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Law School Is No Safe Haven - It's A Cancer Ward
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Wall Street:
Futures soar on US plan to buy toxic assets
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German Stocks Gain a Fourth Day
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Bank Stocks Drag on Market
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The global economic crisis isn't about money - it's about power. How Wall Street insiders are using the bailout to stage a revolution
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Wall Street's most storied firm is surviving on taxpayer dollars
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Fraud:
Madoff to Stay Behind Bars Pending Sentencing
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Madoff Messenger Offers Window Into Firm
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Madoff investigation is far from over
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Madoff victims look to recoup money
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Hedge Fund Investors Hire Private Eyes to Sidestep Madoff-Like Fraudsters
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Paris prosecutor looking at BNP over Madoff
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Did Madoff, others turn wives into Swiss bank accounts?
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Prison cell is safest place for Madoff
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Court Releases Madoff Victims' Angry Letters, E-Mails
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Under fire, Stanford receiver says he's on victims' side
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Receivers clean up mess when Ponzi schemes collapse
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Interview with the receiver
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Venezuela Suspends Stanford Bank Sale on Low Bid
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A Help-Wanted Sign for Fraud Investigators
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Fraud Lawsuits Accumulating Against Namvar
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Travel:
Spring Break in the Recession: Staying Closer to Home
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Bonuses:
Obama: Anger Isn't Governing Strategy
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The Problem With Flogging AIG
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Former AIG head denies he started retention bonuses
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Bonuses Cause Trouble In Paradise
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Strike faster on death-wish finance
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AIG Bonuses and Collective Amnesia
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Pain of broken financial contracts will be felt
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Wall Street Strikes Back: Capitalist Outrage Over the Bonus Outrage
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A.I.G. Revenge Is All the Rage, but It Isn't Healthy
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19 States Launch AIG Bonus Probe
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AIG Worker Bonuses Were More Than Disclosed $165 Million, Connecticut Says
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Drive-By A.I.G. Protest on Fairfield’s Elite Streets
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Obama Seeks to Soften Bonus Bills
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Frank says gov't should stop Fannie, Freddie bonus
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Fannie Mae CEO Defends Retention Bonuses
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Pandit Pushes Back on Bonus Tax
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Collecting Bonus Tax Gets Complicated
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Citi, JPMorgan Reassure Employees
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SocGen cancels executives' stock options
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Dutch finmin to target bonuses; ING in staff appeal
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Bonus culture must end
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Aviation:
US Airline Passenger Revenue Drops 19% in February
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Continental CEO: Airlines in for more financial turbulence
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American Airlines' unions upset over bonuses
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Frontier lands a break on its bankruptcy loan
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Qantas to Cut Up to 100 Senior Executive Positions
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Aircraft orders point to subdued year
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Layoffs:
California Jobless Rate Jumps
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Almost All Is Quiet on the Layoff Front
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Layoffs are a bitter pill for 20-somethings
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About 300 check out Foxy Lady jobs
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More Women Needing Cash Go From Jobless to Topless
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Postal Service Reducing Workforce, Offices as Mail Volume Falls
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More job losses at money managers
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AIG phase out means job losses
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Debt Collection:
Bloomberg Signs New York City Bill classifying Buyers of Debt as Collectors
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Health Care:
Investment Losses Have Hospitals Seeing Red
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______________
Mass Torts:
'Take home' liability could mean limitless liability for asbestos
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Theater:
Theater groups try to play through tough times
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______________
Hedge Funds:
Weavering accounts short on disclosure
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Asset managers face soaring insurance
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Hedge Fund Apocalypse: Massive short squeeze on Citi could wipe out dinosaur funds
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______________
Student Debt:
New Student Loans Require Payments While in School
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______________
Video Games:
Recession Casts Shadow Over Video Game Conference
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______________
Turnarounds:
Moelis Taps Turnaround Specialist
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______________
Hotels:
Congress's `Hypocrisy' on Corporate Trips Ban Angers U.S. Hotel Industry
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______________
Awards:
Nixon charting a different career course: Rise in legal field highlighted by election to American College of Bankruptcy
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Ethanol:
NEB set for auction
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Economy:
Record U.S. deficit forecast
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$1 trillion deficits seen for next 10 years
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GOP Predicts Doomsday if Obama Budget Passed
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Treasury's toxic asset plan could cost $1 trillion
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Obama's Toxic Assets Plan Greeted With Skepticism
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Orlando 'Tea Party' rally draws thousands
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US offers financing to woo buyers of toxic assets
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Geithner says need private-sector help
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Toxic assets may be bargain
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White House Defends Plan for Toxic Assets
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Valuing the Toxic Waste
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Consumer Spending in U.S. Likely Slowed as Home Sales, Goods Orders Fell
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Obama Says ‘Systemic Risk’ Still Exists in Financial Industry
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G.O.P. Wary of White House Optimism on Economy
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Fed move is a market-changer as the dollar sinks
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Can we bail out of the bailouts?
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Police fear violent protests at G-20 economic meet
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Zoellick Calls 2009 a `Dangerous Year' as Economic Crisis Curtails Trade
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No Return to Normal - James K. Galbraith
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'Greed' Is Not Good
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Recession Challenges Small Businesses
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Obama Rules Out Stimulus Money for Casinos, Pools
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Stimulus for casinos? Reid seeks to clarify
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Casino backers multiply appeal
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Don’t Blame the Business Trip
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Shelby Says Geithner May Not ‘Last Long’ at Treasury
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Small Businesses Face Challenges Amid Recession
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Recession slowing migration to Sun Belt
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Worries Voiced Over Global Economy
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Official Says China to Continue Buying US Debt
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Fluke? Credit crisis was a heist
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Nordic model is 'future of capitalism'
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Where Fantasy Meets Reality in the Stimulus
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______________
Real Estate:
Real estate brokerages hit by bankruptcy, closures
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Bank of America Stuck With Real-Estate Chief’s Unsold House
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A Chicago bank sings the blues under a ton of foreclosed mortgages, but it's not alone
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Defaulting Commercial Properties Hit Banks on Vacancy-Rate Rise
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Mortgages: Appraising the Appraiser
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Up in Smoke - The Deposit Vanishes
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Homes Sales Stall at Bankrupt John Laing
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Homebuyers' lack of responsibility helped bring on this recession
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New Condo Loan Rules Could Hurt Distressed Areas
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Thune: Mortgage plan 'rewards bad behavior'
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Navigant Report Finds Nearly Twice as Many Subprime-Related Lawsuits Filed in 2008 as 2007
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Real estate bust has them filing into bankruptcy hearings
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Web Sites an Outlet to Vent Foreclosure Stress
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FBI Beefing Up Mortgage Fraud Teams
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______________
Executive Compensation:
Obama will call for increased oversight of 'executive pay at all banks, Wall Street firms and possibly other companies'
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Morgan Stanley CEO's Compensation Plummets in 2008
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______________
Distressed Investing:
Distressed acquisitions take center stage.
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Harbinger to Raise New Distressed Fund
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______________
Food/Drink:
Restaurant Bubble Bursts
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______________
Autos:
GM, Chrysler May Need ‘Considerably’ More Aid
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Talks on GM debt ignite a debate
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For Detroit automakers, a bankruptcy brouhaha
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GM to close 14 plants by 2012
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Obama auto team recruiting
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Washington right to help auto suppliers
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Expensive bargains - Bribing US consumers with their own tax dollars
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Fiat: Don’t Believe Everything Chrysler Puts On YouTube
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UAW backs Chrysler-Fiat
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Concert aims to break record, boost support for U.S. auto industry
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GM bondholders raise concerns with US auto panel
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GM Bondholders Say Debt-Swap Plan Risks Bankruptcy
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GM Bondholders Say Their Proposal Offers Best Chance
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GM investors defend stance on givebacks
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Text of the Letter From GM Bondholders
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Automakers Lobbying For Gas Hogs
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Chrysler, Canadian Workers to Open Talks Tomorrow
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Merkel rules out state taking stake in Opel
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Germany's coalition wrangles, perhaps fatally, over Opel
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Germany is talking to possible Opel bidders
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Sweden Says No to Saving Saab, a National Icon
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______________
Private Equity:
How will PE respond to the current crisis?
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Grand Prix races into Ch. 15
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______________
Banking:
Bair Says Deposit Reserves May Fall to ‘Zero’ Without New Fees
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WaMu holding company sues FDIC
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2 corporate credit unions taken over by government
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U.S. Seizes Key Cogs for Credit Unions
(WSJ: separate paid subscription required)
Calamitous day sees banks, credit unions seized
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The fearsome become the fallen
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Bank dilemma: How to pay employees
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Bank Bond Spreads Near Widest Since 1996 Endanger S&P 500 Gain
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______________
Manufacturing:
Indalex files for Ch. 11 bankruptcy
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Manufacturing's Crash Empties Inventories Even Faster, Setting Up Rebound
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Morton Industrial Group Files for Bankruptcy Protection After Sales Slump
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______________
RVs:
Debt-heavy Fleetwood tries to steer to buyer
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______________
Credit Cards:
Warning over cuts in credit card lines
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Card, Overdraft Bills Move Up In Congress
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Easterbrook: Banks Free to Gouge Consumers (at least for now)
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______________
Resorts:
Greenbrier Owner Cut Off Funds Before Bankruptcy
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Greenbrier wins interim DIP
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______________
Corporate Reform:
Obama to Outline Regulatory Changes Aimed at Preventing Repeat of Crisis
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______________
Tax:
Group says IRS audits of wealthy have plummeted
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Fresh claims over Barclays tax
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______________
Accounting:
FASB acts to ease US bank profit worries
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______________
History:
Oral History Interview with Vern Countryman - 1995
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______________
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New Bankruptcy Opinions
(No new opinions today)
Bankruptcy Court Web/Pacer Site Directory
Chapter 7, 12 & 13 Private Trustee Locator (DBN Subscription Required)
Recent Ch. 11 Filings (DBN Subscription Required)
Weird News
Bankruptcy Jobs:
(1)-
(2)-
(3)-
(4)-
(5)-
(6)-
(7)-
(8)-
(9)-
(10)
(DBN Subscription Required)
____________
Bankruptcy Reform:
As bankruptcy filings mount, attention turns again to reform
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______________
Insurance:
AIG Starts Makeover
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At A.I.G., the Brand Is Tarnished
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Goldman Insists It Would Have Lost Little if AIG Had Failed
(DBN Subscription Required)
Goldman Hedged AIG Exposure
(WSJ: separate paid subscription required)
Why Obama Backed Down Against AIG
(DBN Subscription Required)
______________
Hedge Funds:
SEC Hunts for ‘Preferential’ Hedge-Fund Redemptions
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______________
Motorcycles:
Harley, You’re Not Getting Any Younger
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______________
Lehman:
Lehman Missing Very Important Book
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Lehman Stress Balls, Tote Bags Will Be Sold to Help Pay $200 Billion Debt
(DBN Subscription Required)
Naked Short Sales Hint Fraud in Bringing Down Lehman After Bear Collapse
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______________
Newspapers:
Lawsuits Are Weapon Of Choice In Dick Tracy Showdown
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Nonprofit newspapers? That’s not the right answer
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Writers take hit -- often
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Sun sets on El Sol
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AbitibiBowater facing bankruptcy
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______________
Sports:
In Economic Downturn, Corporate Ties Put Bind on Sports
(DBN Subscription Required)
______________
Bankruptcy Statistics:
Business bankruptcies more than double in Central Florida
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______________
Retailing:
Sportsman's Warehouse in bankruptcy
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Boater’s World going out of business
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Oakwood's creditors want mall to be sold
(DBN Subscription Required)
Gottschalks will know its fate soon
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Gottschalks Reportedly In Talks With Three Bidders
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Tiffany 4Q Earnings Drop More Than 75 Percent
(DBN Subscription Required)
Citi Moves to Foreclose on Mall
(WSJ: separate paid subscription required)
Inlet Square Mall owner files for bankruptcy
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Is Amerco's Bankruptcy a Blueprint for General Growth Properties?
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Landlords, retailers cutting deals
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Consumer-responsive malls to survive
(DBN Subscription Required)
Retail developers do delicate dance
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Lender Default Leads to Delay in NJ Retail Complex
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______________
Tech:
Turning Out The Lights: Hammerhead
(DBN Subscription Required)
______________
Chemicals:
Chemtura can tap $190M
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______________
Municipalities:
Vallejo Ruling May Be a Model
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Stockton should consider bankruptcy as option
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The Jefferson County legislative delegation faces ultimatums from not one, but two judges
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Federal judge this week may consider how much power a receiver should have over the Jefferson County sewer system
(DBN Subscription Required)
Corzine First to Face Voters' Wrath as U.S. Governors Brace for Backlash
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______________
Biotech:
Biotech Tapestry goes into Chapter 11
(DBN Subscription Required)
______________
Gambling:
Herbst Gaming files for bankruptcy protection
(DBN Subscription Required)
Progressive Games files for Chapter 7 bankruptcy
(DBN Subscription Required)
______________
Sovereigns:
Gregg: Deficits could bring bankruptcy
(DBN Subscription Required)
Added Debt Won't Rescue the Great American Ponzi Scheme
(DBN Subscription Required)
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Chapter 22 :
No one definition of what a successful bankruptcy is binds lawyers and advisers, which may be one reason why there are so many repeat filings.
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_____________
UK:
LDV Warns of Bankruptcy Without Urgent British Aid
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Liquidations reach 16-year high
(DBN Subscription Required)
BAA could be made bankrupt if forced sell-off becomes fire sale
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Pickfords could go through pre-pack administration
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Seize their Porsches and throw them in jail!
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Soaring business costs outstrip profits
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Take-up of City offices at new low
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UK public debt to usher in austerity
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FSA vows to probe new RBS allegations
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U.K. Shopping Streets `Dying' as Stores Close; Fast-Food Outlets Survive
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______________
EU:
Western Europe turns back on poor relatives
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Europe coughs up
(DBN Subscription Required)
Europe needs a better plan for its banks
(DBN Subscription Required)
Europe faces 'wave of downgrades'
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Trichet Says ECB May Be Unorthodox on Bank Financing
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Bank overnight deposits at ECB rise
(DBN Subscription Required)
______________
Germany:
Commerzbank Says German Economy to Shrink as Much as 7% in 2009
(DBN Subscription Required)
______________
Czech Republic:
Czech bank governor warns on economy
(DBN Subscription Required)
_____________
Iceland:
Iceland May Take Stakes in Last Remaining Lenders After Pleas
(DBN Subscription Required)
______________
Canada:
Ottawa, banks take action to rescue mortgages
(DBN Subscription Required)
Petcetera Files for Bankruptcy Protection
(DBN Subscription Required)
______________
Australia:
Storm Financial creditors set to pounce
(DBN Subscription Required)
______________
Russia:
Russia Says Banks Must Help Companies Pay Foreign Debt, Not Rely on State
(DBN Subscription Required)
Rusal in debt-restructuring deal
(DBN Subscription Required)
______________
Spain:
The Fiesta Is Over in Recession-Stricken Spain
(DBN Subscription Required)
______________
Japan:
Japan Manufacturer Sentiment Falls Most on Record, Government Survey Shows
(DBN Subscription Required)
Mitsubishi UFJ to cut 1000 jobs, close 50 branches
(DBN Subscription Required)
Japan Home Prices Slump to 24-Year Low as Recession Deepens
(DBN Subscription Required)
______________
Switzerland:
Geneva Private Banks Face Creative Destruction as Swiss Secrecy Gives Way
(DBN Subscription Required)
______________
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