January 8, 2010
The Daily Bankruptcy News
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Law:
Pillsbury Cuts 1st-Year Pay to $145K, But Offers $15K Bonus If Target Hours Met
(DBN)
Irell & Manella MP Says Hefty Bonuses Aren't an Attempt to Redefine Market
(DBN)
Young Associates Are Way Overpaid And Paid Just Right, All At The Same Time
(DBN)
‘Special’ Bonuses at Fish & Richardson
(DBN)
Associate Bonus Watch: Kasowitz Benson
(DBN)
Layoff Watch: Cahill Gordon Resolves To Lose Some Weight
(DBN)
Are Jobs of Nonequity Partners at Risk?
(DBN)
Crowell Sued by Two U.S. Clients in Airplane Hijacking Case
(DBN)
Four Partners Leaving Latham
(DBN)
Davis Polk in the AIG Spotlight
(DBN)
Report: Sonnenschein Worked for Treasury and Private Client on TALF
(DBN)
Key Rothstein players to give bankruptcy depositions
(DBN)
Creditors Try to Block Last Paychecks to Employees of Former Rothstein Firm
(DBN)
Fannie Mae GC Could Earn Nearly $3M Annually, Despite Bailout
(DBN)
Former Bush Lawyer Charged With Attempted Murder of Wife, Skadden Lawyer
(DBN)
A Legal Question With No Answer?
(DBN)
This Is What Happens To A Biglaw Partner on Drugs
(DBN)
Fed Advice to A.I.G. Scrutinized
(DBN)
Firms Feel Confident the Check Really Is in the Mail
(DBN)
Meet Judith Corley, President Obama’s New Personal Lawyer
(DBN)
Gunslingin’ Gilbert and the Law
(DBN)
Predicting Key Job Opportunities for Lawyers
(DBN)
No 2L Offers Until January, Urges NALP Commission
(DBN)
Norton Rose UK Firm of the Year
(DBN)
A year to remember
(DBN)
Christmas party antics - Clifford Chance scores highly for Russian fight
(DBN)
Philly and NY Lawyers Tie For First in Oddest Bet Competition
(DBN)
Law School Rank and Class Year Take Back Seat to Practical Skills in 2010
(DBN)
No Charges for Attorney Who Brought Grenade to Court
(DBN)
Start Prepping for Westlaw & Lexis 2.0 Versions
(DBN)
Say What?!
(DBN)
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Judges:
ARM Leader Poised to Start New Chapter as Bankruptcy Court Judge
(DBN)
Courts Seek More Lawyers to Help the Poor
(DBN)
Judge Resigns After Questions Raised About Facebook Contacts
(DBN)
Judge’s Prosecution on Hold in Obstruction Case Based on His Rulings
(DBN)
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Wall Street:
Futures Rise Ahead of Jobs Report
(DBN)
Stocks end higher, boosted by financials
(DBN)
Goldman sued by pension fund over bonus plans
(DBN)
Citigroup: Global Stocks to Rally 10% in 2010
(DBN)
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Layoffs:
National and State by State Unemployment Rates
(DBN)
The Disposable Worker
(DBN)
New US jobless claims increase less than expected
(DBN)
Job Growth Erodes as Housing Bust Pushes Mobility to Record Low
(DBN)
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Fraud:
Former McKinsey Director Pleads Guilty in Galleon Case
(DBN)
Guilty Plea in Galleon Case Turns Up Heat On Rajaratnam
(DBN)
Ex - McKinsey Exec: Rajaratnam Paid $1.75 Mln For Tips
(DBN)
Galleon Insider Inquiry Is Extended Again
(DBN)
Lauderdale Chief Adderley on Rothstein: I was fooled, but I'm not alone
(DBN)
Too many Rothstein victims
(DBN)
It's The Common Folk Who May Truly Lose In Canopy Fraud
(DBN)
A Year Later, Satyam Shareholders Lick Scars
(DBN)
Satyam’s Raju Falsified Tax Liability, India Agency Charges
(DBN)
A Public Company Defends Staying Silent About a Legal Snarl
(DBN)
Fraud Case Feeds Sarbox-Exemption Critics
(DBN)
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Aviation:
Delta traffic fell 7.5 percent in December
(DBN)
Boeing's Orders Fell 61% in 2009
(DBN)
American Airlines ups JAL offer to $1.4 bln: report
(DBN)
Wanted at JAL: an iron fist and a rhinoceros hide
(WSJ: separate paid subscription required)
Views still split on JAL turnaround path
(DBN)
Japan new finance minister endorses JAL bailout
(DBN)
Japan Airlines' clouded future On a wing and a rumor
(DBN)
Creditors submit turnaround plan for JAL
(DBN)
JAL Bankruptcy Likely to Be Backed by Government, Yomiuri Says
(DBN)
Japan Airlines Slumps for Third Day as Kan Declines to Rule Out Bankruptcy
(DBN)
Gov't to rehabilitate JAL under bankruptcy -related legislation
(DBN)
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Retailing:
Check Out The Retail Home Run In December
(DBN)
Connecticut AG Calls On Ski Market To Honor Gift Cards
(DBN)
Bankrupt Ski Market Ltd. Says It Won't Honor Gift Cards
(DBN)
Trans World Entertainment Closing 149 Stores Through January
(DBN)
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Credit Reporting:
Credit Bureaus Wouldn't Cut It On 'CSI'
(DBN)
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Hotels:
Hotel foreclosures quadrupled in California in 2009
(DBN)
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Economy:
Fed officials see inflation risks
(DBN)
Slight Increase in U.S. First-Time Jobless Filings
(DBN)
An Interview with Elizabeth Warren
(DBN)
Hoenig Says Fed Should Eventually Lift Main Rate to 3.5%-4.5%
(DBN)
Frank Says Fed's Role in AIG Is 'Troubling,' Supports Hearings
(DBN)
Speculation About Geithner's Role in AIG Bailout Heats Up
(DBN)
Geithner and the AIG Emails: Scandal Is Only Tip of the Iceberg
(DBN)
The AIG fiasco keeps getting worse
(DBN)
Main Street Doesn’t Share D.C., Wall Street Optimism on Economy
(DBN)
Congress: New Commission for Financial Crisis
(DBN)
All Clear at the Fed
(DBN)
Economic Stress Index
(DBN)
Economy Tracker Map
(DBN)
US Debt Clock
(DBN)
Recovery Index
(DBN)
Bailout Tracker
(DBN)
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Real Estate:
Some at Fed See a Need to Do More for Housing
(DBN)
Delinquency Grows in Home Equity Loans, Lines of Credit
(DBN)
Still Hunting for a Bottom in Housing
(DBN)
10% of underwater homeowners would walk away
(DBN)
Homeownership: More Nightmare Than Dream?
(DBN)
Lennar Leads Builders Higher on Report of Unexpected Profit
(DBN)
Handsome government handout for homebuilders
(DBN)
Lenders May Cut Borrowers’ Principal to Prevent Costly Foreclosures
(DBN)
Further Slide Seen in NY Commercial Real Estate
(DBN)
Fannie Mae relaxes rules for Florida condos
(DBN)
Vue bankruptcy auction set for March 15
(DBN)
Boymelgreen issued eviction notice
(DBN)
Rents Signal Rise of D.C., Fall of N.Y.
(DBN)
Sargent Ranch owed more than $71M
(DBN)
Commercial Real Estate Slumps in New York
(DBN)
Apartments Pounded, Fed Split On Stimulus
(DBN)
First Smart Move In a Long Time: Government Surrenders on Second Mortgages
(DBN)
Homebuyer Tax Credits ‘Exceptionally Inefficient’
(DBN)
FASB Rules Bring Clarity to Fair Market Value
(DBN)
GMAC Looks To Exit Real Estate Finance Business
(DBN)
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Video Games:
GameStop: Holiday same-store sales dropped 8.6%
(DBN)
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Theme Parks:
Six Flags says could exit bankruptcy in March
(DBN)
Six Flags names possible banks for $830 million loans
(DBN)
Freestyle Music Park asks for more time to pay
(DBN)
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Food/Drink:
Sources: Tops will bid on Penn Traffic assets Friday during bankruptcy hearing
(DBN)
Tops to the rescue?
(DBN)
Parent of P&C scraps motion
(DBN)
Schumer: Penn Traffic can still be saved
(DBN)
Owner of closed Trader Vic's files for bankruptcy
(DBN)
Tavern's Last Day Busy Like Any Other
(DBN)
Landmark New York restaurant Tavern on the Green to be sold
(DBN)
Tavern on the Green Items Up for Auction
(DBN)
Tavern in the Red: Famed Eatery Forced to Sell the Silver
(DBN)
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Gambling:
SunCruz quickly leaves Little River, files bankruptcy
(DBN)
Judge OKs new loan to keep Princess afloat
(DBN)
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Lehman:
Pickens Said to Have Sold $42 Million of Lehman Claims to RBS
(DBN)
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Health Care:
Future of CHA medical facility in Hawaii hazy
(DBN)
Forum Health Announces Further Extension
(DBN)
Murky Financing for Interest Groups Behind Health Legislation
(DBN)
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Religion:
100-plus Montana residents join Jesuit priest abuse case
(DBN)
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Tax:
Taxpayer Advocate Faults I.R.S. on Collecting Delinquent Taxes
(DBN)
Italy Puts Swiss Haven From Taxes Under Siege
(DBN)
Swiss Regulator Broke Law on UBS Client Disclosure, Court Rules
(DBN)
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Insurance:
Insurer Must Defend Broker Sued in Connection with Stanford Group Fraud
(DBN)
AIG Subsidiary Told to Reimburse California Guarantee Fund for $500M
(DBN)
'Worthless' AIG Shares Belie Company's Books?
(DBN)
AIG Bailout Secrecy Could Mean Geithner Testifies
(DBN)
New York to Create Global Insurance Exchange to Cover Complex Risks
(DBN)
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Mass Torts:
Cal Supremes Ponder Asbestos
(DBN)
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Municipalities:
Paterson’s State of State Speech Chastises New York Lawmakers
(DBN)
State Tax Revenues Fall Most Since 1963
(DBN)
Texas Tax Collections Fell 11% in November
(DBN)
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Bankruptcy Crimes:
Sandusky resident charged with fraud in bankruptcy case
(DBN)
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(No new opinions today)
Bankruptcy Court Web/Pacer Site Directory
Chapter 7, 12 & 13 Private Trustee Locator
(DBN)
Recent Ch. 11 Filings
(DBN)
Bankruptcy Jobs:
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(DBN)
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Bankruptcy Statistics:
San Jose area bankruptcy filings hit record number
(DBN)
Utah bankruptcy filings soar in 2009
(DBN)
W.Va. bankruptcies rise by 27 percent
(DBN)
Sacramento, Central Valley bankruptcy filings soar to all-time high
(DBN)
Joblessness fuels bankruptcy spike
(DBN)
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America's enlightened treatment of bankrupt firms remains a model to the world
(DBN)
Banking:
US regulators warn banks on interest rate risk
(DBN)
WaMu shareholders could get seat at bankruptcy table
(DBN)
US Judge Postpones WaMu-FDIC Dispute Regarding Assets
(DBN)
Virginia-based credit union buys HeritageWest
(DBN)
Bank of America Expects Record Bonuses for Some Top Performers
(DBN)
London Banks Double Pay to Lure Talent
(DBN)
Banks Hoarding Cash, Killing Recovery
(DBN)
Bank Lending Is Still Down. Should We Be Worried?
(DBN)
End Culture of Risk, or New Banking Crisis
(DBN)
Regulators to Banks: Time to Stop Carrying On
(DBN)
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Corporate Reform:
Financial crisis panel seeks bankers' testimony
(DBN)
Dodd's status may hurt odds on creating new consumer agency
(DBN)
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Autos:
Auto Execs: Still Too Many Plants
(DBN)
Tea Party Protest for Detroit Auto Show
(DBN)
Judge's patience with Hecker runs out
(DBN)
Denny Hecker ordered to repay 401(k) or go to jail
(DBN)
Genii Capital, Ecclestone to Bid for General Motors' Saab Unit
(DBN)
Saab Delays Board Meeting as Spyker, Genii Plan to Submit Bids
(DBN)
A Bake Sale to Save Saab
(DBN)
GM loses grip over Saab deal
(DBN)
Can Saab Be Saved?
(DBN)
GM Skeptical of Expected Bid for Saab
(DBN)
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Chemicals:
Reliance raises offer to buy Lyondell : report
(DBN)
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Consultants:
Epiq Systems Ranks #1 for 2009 Corporate Restructuring Engagements
(DBN)
Deutsche Bank Downgrades FTI Consulting to Hold; Bankruptcy Slowdown
(DBN)
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Resorts:
Empire Resorts Sues Former CEO, Citing Contract Breach
(WSJ: separate paid subscription required)
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Radio:
Media firm sued over loan
(DBN)
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Magazines:
Hank Williams Heirs Yearnin’ For Readers Digest Royalties
(DBN)
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Credit Cards:
How to Haggle Your Way Out of Credit Card Debt
(DBN)
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Corporate Governance:
Despite Failure Of Trustee's Arguments, Debtor's Principal Personally Liable
(DBN)
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Litigation:
More on the Magic of RICO
(DBN)
Jurors Turned Against Companies in 2009 Product-Defect Cases
(DBN)
Seeking Ways to Set Limits on E-Discovery
(DBN)
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Compensation:
Did Pay at Bear, Lehman Cause Collapses?
(DBN)
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Paper:
Blue Heron lays off 50
(DBN)
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Fashion:
Mariella Burani Fashion Group faces bankruptcy
(DBN)
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UK:
Mixed Data in Britain Prompts Bank to Keep Rates Unchanged
(DBN)
UK Producer Prices Jump More Than Twice Forecast
(DBN)
Big Deficits Cloud Britain's Future
(WSJ: separate paid subscription required)
Arch Cru: too much blame, not enough answers
(DBN)
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EU:
Europe's Jobless Rate Unexpectedly Hits 11-Year High
(DBN)
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Japan:
Accelerating Factory Exodus Guts Japan Manufacturing Center
(DBN)
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China:
Shorting China
(DBN)
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Iceland:
Iceland Sees ‘No Immediate Solution’ to Solve Icesave
(DBN)
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Greece:
EU officials investigate Greek economic rescue plan
(DBN)
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