May 1, 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:

Jones Day’s Corinne Ball is ‘Dealing With the World’
(DBN Subscription Required)

And Now It's Official: Jones Day Advising on Chrysler Bankruptcy
(DBN Subscription Required)

Chrysler Files Bankruptcy - Part I: Assessing The Financial Carnage
(DBN Subscription Required)

Chrysler Files Bankruptcy - Part II: Testing The Limits Of Section 363 Sales
(DBN Subscription Required)

Proskauer's Marwil on Chrysler's, GM's future
(DBN Subscription Required)

Looking Back and Ahead: Lawyers Facing Job Insecurities
(DBN Subscription Required)

Chrysler's Lawyer Must Cut Lender Deal Quickly, Attorneys Say
(DBN Subscription Required)

For Firms From London to Chicago, the Struggle Continues
(DBN Subscription Required)

Legal Strategy 101: It's Time for Law Firms to Re-think Their Business Model
(DBN Subscription Required)

Recession hits top Chicago law firms' profits
(DBN Subscription Required)

BigLaw Pair Bracing Partners Being Put Out to Bad-Billables Pasture
(DBN Subscription Required)

Departments at major law firms with more partners than associates
(DBN Subscription Required)

Squire Sanders Cuts Associate Pay 10 Percent; Expert Sees a Trend
(DBN Subscription Required)

Pay Freeze Watch: Skadden Freezes Counsel Salaries
(DBN Subscription Required)

Recession and Repair Early financial data suggests a grim 2009. It's the perfect time for firms to fix their business model--if they have the courage.
(DBN Subscription Required)

Allen & Overy Lays Off 450 Staff as Consultation Closes
(DBN Subscription Required)

Calculus of the Damned - The thinking behind all those layoff notices. When does a firm pull the plug?
(DBN Subscription Required)

Blue, Blue Thursday: Axeman's Jazz Claims 47 Partners, 200 Associates and 200 Staffers
(DBN Subscription Required)

Firm Bucks BigLaw Trend by Giving Associates Raises- Sort Of
(DBN Subscription Required)

Clearys show summer students the high life at McDonalds
(DBN Subscription Required)

Kilpatrick Stockton’s Mark Levy Found Dead in D.C. Office
(DBN Subscription Required)

Reportedly Laid-Off Lawyer is an Apparent Suicide at Kilpatrick Stockton
(DBN Subscription Required)

Sad Day at Kilpatrick Stockton
(DBN Subscription Required)

Lawyer Personalities May Contribute to Increased Suicide Risk
(DBN Subscription Required)

High - Profile Suicides Reveal Acute Pain Of Crisis
(DBN Subscription Required)

TARP money to settle shareholder class actions - Bailout for the plaintiff's bar?
(DBN Subscription Required)

Compensation: Think Different
(DBN Subscription Required)

How to Really Get in an Adversary's Face
(DBN Subscription Required)

Attorney in 2007 tuberculosis scare sues CDC
(DBN Subscription Required)

Attorney Says Law Firm Fired Him for Being Gay
(DBN Subscription Required)

Lawyer of the Day: Crusader Calls Sears's Bluff
(DBN Subscription Required)

One Man's Response to Jury Duty
(DBN Subscription Required)

Five. Five Dollar. Five Dollar Ad-Viiiiiice
(DBN Subscription Required)

Academic Innovation Hits the Legal Web
(DBN Subscription Required)

______________

Judges:

Justice Souter to Retire From Court
(DBN Subscription Required)

Who Will Replace Justice Souter?
(DBN Subscription Required)

______________

Wall Street:

Stocks end mixed after Chrysler bankruptcy news
(DBN Subscription Required)

Stock rally peters out
(DBN Subscription Required)

Wall Street's chief executives - They used to walk on water. Now they are back from the dead
(DBN Subscription Required)

______________

Evidence:

Judge Shuts Down NewWest.Net Twitter Feed from Yellowstone Club Trial
(DBN Subscription Required)

______________

Layoffs:

National and State by State Unemployment Rates
(DBN Subscription Required)

The Geography of Jobs
(DBN Subscription Required)

______________

Credit Cards:

S&P cuts American Express on liquidity concern
(DBN Subscription Required)

______________

Photography:

Kodak Triples Loss, Suspends Dividend
(DBN Subscription Required)

______________

Municipalities:

Judgment could cause city's bankruptcy
(DBN Subscription Required)

Bankruptcy plan questioned
(DBN Subscription Required)

______________

Fraud:

Lawyer: Madoff brother demands $500,000 license fee
(DBN Subscription Required)

US Stanford receiver lacks confidence in Antigua courts
(DBN Subscription Required)

Movers packing at Stanford's Memphis office
(DBN Subscription Required)

Stanford attempts to surrender in Texas: lawyer
(DBN Subscription Required)

Wild West World founder Etheredge arrested in fraud investigation
(DBN Subscription Required)

______________

Accounting:

The Next Accounting Controversy
(DBN Subscription Required)

FASB ‘Close' on Off-Balance-Sheet Change, Herz Says
(DBN Subscription Required)

______________

Hollywood:

TimeWarner forced to absorb film costs; Studios face financing problems
(DBN Subscription Required)

______________

Credit Cards:

Credit-Card Measures Near Passage
(DBN Subscription Required)

______________

Aviation:

Business Class Travel Falling
(DBN Subscription Required)

Risk Unclear, Some Fliers Grow Skittish Over Travel
(DBN Subscription Required)

______________

Finance:

Looking for Funding? There Must Be Something Wrong With You
(DBN Subscription Required)

______________

Distressed Investing:

FDIC May Let Investors Buy Toxic Assets Without Giving Government a Stake
(DBN Subscription Required)

Which banks have their checkbooks open? It is a question troubling private-equity houses who are keen to snap up deals from distressed sellers
(WSJ: separate paid subscription required)

______________

Oil/Gas:

Marathon quarterly profit falls 61 percent
(DBN Subscription Required)

______________

Art:

Art Market Searches for Bottom
(DBN Subscription Required)

______________

Insurance:

AIG Discloses Payments to Its $1-a-Year Chief
(DBN Subscription Required)

State insurance regulator resists First Americans creditors
(DBN Subscription Required)

______________

 

Economy:

US jobless claims fall, but spending and income ease
(DBN Subscription Required)

US First-Quarter Labor Costs Rise Least on Record
(DBN Subscription Required)

Fed to Revise Terms for TALF Loans
(DBN Subscription Required)

Swine Flu Nears Pandemic as Schools Close, Citibank Scrubs
(DBN Subscription Required)

New Flu Cases Surpass 100 in U.S.
(DBN Subscription Required)

Biden would avoid subways, planes
(DBN Subscription Required)

US `Fully Expects' More Severe Cases of Swine Flu, CDC Says
(DBN Subscription Required)

Common flu far more deadly than swine flu in U.S.
(DBN Subscription Required)

Companies anticipate large-scale flu absences
(DBN Subscription Required)

Swine Flu Won't Be `Major' Issue for World Economy, IMF's Blanchard Says T
(DBN Subscription Required)

U.S. business activity contracted at a slower pace in April
(DBN Subscription Required)

______________

Real Estate:

Mortgage rates lowest in at least 39 years
(DBN Subscription Required)

The logjam in lending inflicts pain
(DBN Subscription Required)

Sam Zell's Take on Commercial Real Estate
(DBN Subscription Required)

Regulators didn't challenge Freddie Mac's accounting after report last year showed problems
(DBN Subscription Required)

Fannie/Freddie Takeover: More Expensive Than TARP?
(DBN Subscription Required)

Kimco Realty reports lower net income
(DBN Subscription Required)

HSBC's Skyscraper Sales May Fetch 40% Less Than Peak
(DBN Subscription Required)

Banks Now Bulldozing Foreclosed McMansions
(DBN Subscription Required)

Town Fights Foreclosure Blight
(DBN Subscription Required)

Foundation Backs Foreclosures Project
(DBN Subscription Required)

‘Disturbing Trend’: Mortgages on Pricey Homes Going Delinquent
(DBN Subscription Required)

Why Didn't the Housing Bubble Mess With Texas?
(DBN Subscription Required)

______________

Autos:

Chrysler Files for Bankruptcy to Seal Fiat Accord
(DBN Subscription Required)

Chrysler: Detroit’s Pain is New York’s Gain
(DBN Subscription Required)

Chrysler Judge Handled Enron, WorldCom
(DBN Subscription Required)

Chrysler's ‘Surgical' Bankruptcy Will Be Change for Enron Judge
(DBN Subscription Required)

Chrysler judge expert in corporate collapse
(DBN Subscription Required)

Meet Chrysler’s Bankruptcy Lawyer, Corinne Ball
(DBN Subscription Required)

A Web Site Of Its Own
(DBN Subscription Required)

Chrysler to Move Through Bankruptcy in a ‘Few Months': Nardelli
(DBN Subscription Required)

‘Surgical’ Bankruptcy Is Set for Chrysler
(DBN Subscription Required)

A Chrysler Bankruptcy Won't Be Quick
(DBN Subscription Required)

Diverse Partners With Many Goals
(DBN Subscription Required)

Chrysler hedge fund holdouts reject offer
(DBN Subscription Required)

Obama picks a fight with 'speculators'
(DBN Subscription Required)

Chrysler Lenders Tried Obama's Patience, Lost Game of Chicken
(DBN Subscription Required)

Chrysler lender group plans objection to sale
(DBN Subscription Required)

Can Stubborn Bondholders Delay a Chrysler Rebirth?
(DBN Subscription Required)

US Tactics Spark Worries Over Lenders' Rights
(WSJ: separate paid subscription required)

Making (Some) Sense of the Chrysler Bankruptcy Filing
(DBN Subscription Required)

Team Obama sends message
(DBN Subscription Required)

The Lenders Obama Decided to Blame
(DBN Subscription Required)

Obama Criticizes Chrysler Lenders, Hedge Funds Who ‘Held Out'
(DBN Subscription Required)

In Chrysler Saga, Hedge Funds Cast As Prime Villain
(DBN Subscription Required)

Statement From Non-Tarp Lenders of Chrysler
(DBN Subscription Required)

Bankruptcy better than no deal
(DBN Subscription Required)

Political Wisdom: Chrysler Bankruptcy Is Somebody Else's Fault
(DBN Subscription Required)

Chrysler's factories: A fate uncertain
(DBN Subscription Required)

Chrysler to idle plants until Fiat deal done
(DBN Subscription Required)

Some Chrysler parts suppliers stop shipping
(DBN Subscription Required)

Suppliers balk, shutting 3 plants
(DBN Subscription Required)

Chrysler's filing triggers shutdown
(DBN Subscription Required)

Chrysler Must Sell Cars as It Tries to Solve Problems in Court
(DBN Subscription Required)

Chrysler Bankruptcy Plan Is Announced
(DBN Subscription Required)

Chrysler to Receive $10.5 Billion From Canada, US
(DBN Subscription Required)

Chrysler Files for Bankruptcy, Debtholders Cry Foul
(DBN Subscription Required)

Mich. lawmakers blast Obama's Chrysler plan, hedge funds
(DBN Subscription Required)

Nardelli to step down as Chrysler CEO
(DBN Subscription Required)

Chrysler's Nardelli to Rejoin Cerberus Without Golden Parachute
(DBN Subscription Required)

Chrysler Won't Go Down As Worst PE Deal Ever. Here's Why
(DBN Subscription Required)

Chrysler Vice Chairman Tom LaSorda to retire after 32 years in auto business
(DBN Subscription Required)

UAW to urge bankruptcy court to OK Chrysler labor deal
(DBN Subscription Required)

UAW's Chrysler Equity Is Small Comfort as Union's Power Wanes
(DBN Subscription Required)

Chrysler bankruptcy raises questions about worker pensions, dealerships and tax revenues
(DBN Subscription Required)

US PBGC says Chrysler pensions remain intact
(DBN Subscription Required)

Chrysler bankruptcy raises questions for workers
(DBN Subscription Required)

Chrysler Says 38,500 Jobs Would Be Lost If Liquidation Needed
(DBN Subscription Required)

After Chrysler, Leaving the Auto Industry
(DBN Subscription Required)

Millions could feel the pinch from Chrysler's bankruptcy
(DBN Subscription Required)

Bankruptcy Hits Home in Auto Heartland
(DBN Subscription Required)

A Primer on a Chrysler Bankruptcy
(DBN Subscription Required)

Own a Chrysler? Here's how the automaker's bankruptcy could affect you
(DBN Subscription Required)

Chrysler dealers put brave face on bankruptcy news
(DBN Subscription Required)

Many Chrysler dealers see silver lining in automaker's bankruptcy
(DBN Subscription Required)

GMAC Takes Over Financing
(DBN Subscription Required)

Many of Chrysler’s largest creditors from Michigan
(DBN Subscription Required)

Chrysler — Our Long Nightmare Has Begun
(DBN Subscription Required)

Obama says Chrysler to be stronger after bankruptcy
(DBN Subscription Required)

Quotes on Chrysler bankruptcy announcement
(DBN Subscription Required)

Officials Statements On Chrysler Bankruptcy
(DBN Subscription Required)

Full Remarks: Obama On Chrysler
(DBN Subscription Required)

Biden: Chrysler Could Emerge as a 'Sustainable Company' From a Bankruptcy
(DBN Subscription Required)

Obama's Choice: Protect The Taxpayer Or Protect The UAW
(DBN Subscription Required)

A letter from Bob Nardelli to Chrysler employees
(DBN Subscription Required)

Buongiorno: With Fiat's Fuel Sippers, a Bankrupt Chrysler Will Be 'Viable'
(DBN Subscription Required)

Chrysler needs Fiat cars fast
(DBN Subscription Required)

Chrysler's highway to hell
(DBN Subscription Required)

Gov't to hold 2 pct stake in new Chrysler Canada
(DBN Subscription Required)

Ford Climbs To 9-Month High As Chrysler Heads For Bankruptcy
(DBN Subscription Required)

Ford: No Need to Seek Government Loans in Wake of Chrysler Filing
(DBN Subscription Required)

GM bondholders want majority stake
(DBN Subscription Required)

Chrysler Bankruptcy May Impact GM Debt Deal
(DBN Subscription Required)

Sun Capital's Mark IV Files for Bankruptcy Protection
(DBN Subscription Required)

Nearly Half of Americans Unlikely to Buy from Automakers Considering Bankruptcy
(DBN Subscription Required)

Platinum Heads for Monthly Decline as Automotive Demand Slumps
(DBN Subscription Required)

______________

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)

Bankruptcy Jobs:

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

____________

Bankruptcy Reform:

Senate Mortgage ‘Cram-Down' Bill Headed to Defeat as Banks Balk
(DBN Subscription Required)

Senate Rejects Mortgage 'Cramdowns'
(DBN Subscription Required)

Kyl on Cram down: “Congress should not incentivize bankruptcy by making it the only means to save one’s home”
(DBN Subscription Required)

Cramdown Slamdown
(DBN Subscription Required)

Banks Receive Good News - No Cram Down
(DBN Subscription Required)

ABA Statement on Senate Vote on Cram-Down Amendment to S. 896
(DBN Subscription Required)

______________

Banking:

Stress-Test Results Are Delayed by Fed as Examiners, Banks Debate Findings
(DBN Subscription Required)

A look at Walter Massey, BofA's new chairman
(DBN Subscription Required)

BofA sends the wrong message
(DBN Subscription Required)

BofA's Ken Lewis: Knockdown
(DBN Subscription Required)

Lewis out as BofA chairman, is CEO job at risk?
(DBN Subscription Required)

Ex-Citigroup Banker Sued by SEC for Insider Trading
(DBN Subscription Required)

______________

Financial Literacy:

Who teaches kids about money?
(DBN Subscription Required)

______________

Newspapers:

Lawsuit Claims Brown Publishing Preparing Sham Bankruptcy
(DBN Subscription Required)

Independent News & Media warns it's likely to breach
(DBN Subscription Required)

Dick Tracy focus of Tribune bankruptcy hearing
(DBN Subscription Required)

Judge sets dates in Tribune bankruptcy
(DBN Subscription Required)

Reader Survey of Stories Roils Tribune Newsroom
(DBN Subscription Required)
s

Red Sox owners deny reports they might buy Boston Globe from New York Times Co.
(DBN Subscription Required)

As deadline looms, will NY Times shut The Globe?
(DBN Subscription Required)

Union seeks more talks on Globe
(DBN Subscription Required)

Will The Small Paper Survive?
(DBN Subscription Required)

______________

Movies:

American Casino tracks crisis from Main to Wall Street
(DBN Subscription Required)

______________

Celebs:

Athletes Can’t Box Out Recession
(DBN Subscription Required)

______________

Tax:

Tax Avoiders, Enforcers Trade Notes
(DBN Subscription Required)

UBS Says Meeting US Demand Would Violate Swiss Criminal Laws
(DBN Subscription Required)

Switzerland asks US court to halt UBS tax case
(DBN Subscription Required)

______________

Retailing:

Bankruptcy watchdog official urges Hilo Hattie liquidation
(DBN Subscription Required)

Abercrombie & Fitch cuts 170 staffers as it reviews expenses
(DBN Subscription Required)

______________

Opera:

When arias turn to dirges
(DBN Subscription Required)

______________

Chemicals:

Dow Chemical earnings tumble 97 percent
(DBN Subscription Required)

______________

Consultants:

Moelis hires Close Bros. Euro restructuring chief
(DBN Subscription Required)

______________

Mining:

Sterlite to match rival bid for Asarco
(DBN Subscription Required)

______________

Pensions:

SEC sues consulting firm for Los Angeles pension agency
(DBN Subscription Required)

The Ever-Deepening Pension Mess
(DBN Subscription Required)

Pension kickbacks national problem, NY's Cuomo says
(DBN Subscription Required)

New York pension investigation spreads to Texas
(DBN Subscription Required)

New York, New Mexico Fire Adviser Under Scrutiny
(DBN Subscription Required)

______________

UK:

Brown Backs Down Over UK Lawmaker Pay in Setback
(DBN Subscription Required)

______________

Japan:

Japan's Economy May Return to Growth as Companies Raise Output
(DBN Subscription Required)

______________

Germany:

Germany Vows to Seize Hypo, ‘Too Bad' for Flowers
(DBN Subscription Required)

______________

Canada:

Canada's Economy Contracts 0.1 Percent in February
(DBN Subscription Required)

______________

Middle East:

S&P Raises Dubai Debt Worry
(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).