May 7, 2009
The Daily Bankruptcy News
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Law:
Chrysler Bankruptcy Lawyers Reap Fees Illegally, Professor Says
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New Study Accuses Bankruptcy Judges Of “Routine Illegality”
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Do Bankruptcy Lawyers Bill Illegally?
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Lynn LoPucki's New Study On Fees
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Schulte Roth's Chrysler Legal Tab at $26.7 Million
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Legal elite faces worst year since 1991 as downturn hits PEP
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Law firms have been slow to respond to the recession
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Shouldn't Lawyers Be Required To Speak English?
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Salary Cut Watch: Gardere Wynne Cuts Salaries that 'Just Do Not Make Sense'
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Most Firms Now See $160K Starting Salary ‘Makes No Sense,’ Managing Partner Says
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When Will the Employment Picture Brighten for Lawyers?
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Thompson & Knight Lays Off 42
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Layoff Watch: Thompson & Knight Lays Off 42 People
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Skadden's Cliff Sloan Tangles With Stephen Colbert
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National Insecurity Issues
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Penny Pinching: BigLaw Firm Tells Ex-Partners They Have to Wait for Their Capital
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Hearing Scheduled in Dispute over O'Melveny Fees in SonicBlue Bankruptcy
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Dreier disclosures deadline set
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Will (Not) Work for Food
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Lawyer in Need of a Job? Head to North Dakota
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Laid-Off Lawyer Seeks Columnist’s Advice After Firm Claims Misconduct
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East Coast Firm Expands in LA With Litigation Trio
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Clifford Chance hit by more departures as four top NY litigators walk
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What Alternative Fee Arrangements Can Tell Clients About a Law Firm
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Attorneys Ran 'Opinion Mill,' SEC Says
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Marvell Alleges Editing of Infamous GC Voice Mail Message
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Wilson Sonsini Gets Top Spot on Diversity Scorecard
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Women Expect Too Much Empathy From Female Partners
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Is Paying Associates Not to Work a Smart Big Firm Move?
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Notes from the Breadline: Comes A Time
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Pls Hndle Thx: There's No Place Like Home
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Law Schools Have to Get Real, Deans Say
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Judges:
The Next Justice Watch — Wednesday’s Roundup
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Wall Street:
Stock Futures Point Higher
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World Stocks Rise Ahead of US Stress Tests Results
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US Stocks Rise to Four-Month High as Banks Jump on Tests
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Layoffs:
National and State by State Unemployment Rates
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Layoffs, still elevated, drop to 6-month low in April
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For Small Employers, Shedding Workers and Tears
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Banking:
Fed's Stress Test Results for Banks `Reassuring,' Show No Insolvency Risk
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No stress for bank stocks
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What if the Stress Test Results are Completely Wrong
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The Stress Test Results So Far
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Who Needs Capital, Who Doesn't
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Stress tests may bring few shotgun weddings
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Bank of America, Citigroup, GMAC Need More Capital
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Wells Fargo: Maybe not that much smarter than everybody else
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BofA shares soar despite need for $34 billion in new capital
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Bank of America Doing Worse Than Citi?
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Credit Risk Tumbles to Lowest Since Lehman Crisis on Bank Tests
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Monsters, Inc.
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Better, Cheaper Bank CEOs
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Banks Expect Loan Quality To Deteriorate
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The Perils of Global Banking
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SocGen swings to unexpected loss after write-downs
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Pensions:
NY state pension sues Aldus, officers for kickbacks
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Newspapers:
Agreement keeps Boston Globe alive, but what next?
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News Corp Quarterly Results Worsen
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No papering over troubles at publishers
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Senate Examines Newspapers' Plight
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U.S. unlikely to bail out newspapers like France
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Software:
SCO to fight US bankruptcy trustee's motion to liquidate it
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Private Equity:
Private equity treads cautiously in bankruptcy quagmire
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American Capital looks to calm anxious investors
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Economy:
US April Job Cuts Rise 47% From a Year Ago
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Job cuts trend downward
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Murdoch: "The worst is over"
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7 of 10 lawmakers skip oversight hearing
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Why the Economic Recovery May Be Disappointing
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Obama Seeks Cuts in 121 Programs
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The Dangers of Playing with Credit Markets
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Real Estate:
Almost a Quarter of US Homeowners Are Underwater
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Senate votes to ease mortgage terms
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Top Subprime Lenders Were Backed by Bailout Banks
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The New Rules Are the Old Rules
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Safe Harbor = Trial Lawyers' Relief Act
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CRE Brokerage Industry Hard Hit by Losses
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Lease Cancellations (May 3-9): Chrysler To Cut $31 Mil in Rent
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Autos:
Detroit's Troubles Lure World of Bidders
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GM Loss Is Smaller Than Estimates as Bankruptcy Deadline Nears
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The Impact Of Chrysler's Bankruptcy
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The Chrysler Sale Motion
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Marchionne to head Chrysler
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Non-Union Retirees Group Says Chrysler Plans to Cut Benefits for 16,000
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Chrysler Bankruptcy Lawyers Reap Fees Illegally, Professor Says
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Non-TARP Lenders Aren't Making Up the Stories of White House Pressure
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Document Reveals Hedge Funds Opposed to Chrysler Sale
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Number of Chrysler dissident group members drops
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Dissident creditors disclose names, hold just 4 percent of Chrysler debt
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Meet the Chrysler Holdouts
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Chrysler's Greedy Hedge Fund Holdouts Get It Right
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Fiat's Chrysler plan may be the only one
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What's The Chrysler Bailout Really All About?
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G.M. Is Said to Seek Stake in Fiat
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Dealers, suppliers named to Chrysler's unsecured-creditors committee
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The Chrysler bad joke
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Chrysler Hedge Funds Quake In Fear Over Commenter 'jerkhoff'
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Dodge Viper May Be Discarded in Chrysler Bankruptcy
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Chrysler bankruptcy: Test drive for GM
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Opposition Building Against GM's Restructuring Plans
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UAW vice president lambastes GM restructuring plan
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UAW, General Motors headed for a showdown
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GM likely to file bankruptcy to sever dealer agreements
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TRW Posts Loss, Pares Sales Forecast on Auto Slump
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US$200M loss dents Magna
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Chrysler offers incentives to counter sales slump
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Chrysler dealers worry about their survival
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The View From a Chrysler Lot
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GM said to be talking with Renault about Saturn
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Key GM clients courted at resort
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President Obama's recent soundbites suggest an uncompetitive auto industry
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World’s new giant carmaker worth a pittance
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World auto sales follow US decline
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Saab Still Believes It Will Find Buyer by Summer
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Volvo auction moves ahead; decision possible soon
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Volvo Cars says govt talks on EIB loan put on hold
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Fitness:
Crunch gym chain bankrupt, agrees to be sold
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Crunch Fitness Sale to Angelo Gordon Is `Outrageous,' New York Judge Says
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Hockey:
Coyotes Bankruptcy Could Mean Millions For Gretzky
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NHL, Team in Bankruptcy Showdown
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NHL to ask court to dismiss Coyotes bankruptcy
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NHL's Bettman On Coyotes' Bankruptcy
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NHL Chief Cool to Ontario Offer
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Coyotes situation turns ugly
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Balsillie's brash bid for Coyotes won't work with NHL
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Retailing:
General Growth Properties replaces lender
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General Growth Bankruptcy Leads to Record Surge in Specially Serviced Loans
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Retailers Report Smaller Sales Declines in April
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Insurance:
MetLife Said to Have No New Capital Need After US Stress Test
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AIG Said to Have Quarterly Loss of About $5 Billion
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Lawmaker seeks info on any AIG tie to carmaker CDS
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Bonuses:
AIG Bonuses Four Times Higher Than Reported
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(1 new opinion today)
Bankruptcy Court Web/Pacer Site Directory
Chapter 7, 12 & 13 Private Trustee Locator
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Recent Ch. 11 Filings
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Bankruptcy Jobs:
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(10)
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Mass Torts:
Judge Blasts Plaintiffs Firm Over Asbestos Suit
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Fraud:
Chais Fires Back at Picard; ‘Inaccuracies, Half-Truths and Innuendos’
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UBS Said to Get Subpoena From Bernard Madoff Firm U.S. Bankruptcy Trustee
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Madoff's former secretary reveals details of financier's private life
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Madoff a dirty old man, says secretary
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Madoff secy believes he's silent to protect others
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Over the Top! Bernard Madoff's $100,000 Monthly Amex Bills
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Satyam's Rigged Profits May Have Earned Raju $600 Million, Life in Prison
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Receiverships:
Federal Judge Removes Accountant From Receivership in Multimillion-Dollar Case
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Oil/Gas:
$56: Oil prices jump to new high for year
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Attorney for producers in SemGroup case remains hopeful on recovery
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Metals:
Crucible Materials files for bankruptcy
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Will bankruptcy give Crucible Materials Corp. enough breathing room?
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Horse Racing:
‘Strategic Jockeying’ Over Preakness
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Defaults:
U.S. Corporations Defaulting at Record Pace
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Promotional Items:
Norwood files for bankruptcy protection, blames bankruptcy on downturn
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Celebs:
Michael Jackson former publicist sues for $44 Million
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Printing:
Quebecor World predicts small net profit after restructuring
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Municipalities:
Cities Hope Slogans Prove Providential
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Business Travel:
Saving by Sharing a Room
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Tax:
Germany's Steinbrueck Says Swiss 'Invite' Tax Fraud
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Financial Literacy:
Kids can learn lessons from recession
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Boating:
Marina Experiencing Rare Vacancies
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UK:
Barclays, Lloyds Bad Loans Are Rising as Economy Deteriorates
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No 'abuse' of pre-packs, despite complaints
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EU executive widens probe in Northern Rock rescue
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BOE Will Increase Money-Printing Plan as Key Rate Stays at 0.5%
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Bank of England Increases Asset Purchase Program
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Euler Hermes forecast bankruptcy spike
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Wedgwood USA under administration
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Centrica, EDF Curb Energy Consumer Credit as U.K. Corporate Failures Mount
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EU:
U.S., Europe Differ On Jobless Benefits
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European Union Approves Commerzbank Rescue
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ECB May Cut Rate to 1% as Split Over Asset Purchases Mutes Crisis Response
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Germany:
German Manufacturing Orders Unexpectedly Increased in March
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China:
Undoing Chinese Bank Reform
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Australia:
Westpac, ANZ Brace for Bad Loans as Global Recession Threatens Australia
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