November 16, 2007

Daily Bankruptcy News

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Law:

BigLaw Firm Holds Back Some Partners' Pay
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In-House Lawyers Manage Outside Counsel More Closely
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Survey Says Income Gap Grows in 'Overwhelmingly Male' BigLaw
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Rock 'n' Roll and Billable Hours
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Reed Smith to U.K. Attys: Play By Rules for 'Partner' Pay
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Bonus Watch: Proskauer Shares the Wealth With Boston and L.A.
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New Degree Program Helps Managers Figure Out Those Legal Minds
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Firm offers lawyers year off instead of layoff
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After the Boom: A New World Order
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There is a World Outside of Big Law
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Mid-Level Associates, Hang on to Your Jobs
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U.S. v. Scruggs: Entire N. District Of Alabama Recuses Itself
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Barry Bonds Indicted for Perjury, Obstruction of Justice
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Barry Bonds Indicted
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Telecommuting Option for Professionals
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Justice Thomas to Federalist Society: 'What Happened to My Life?'
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Wal-Mart ordered to pay $36.4 million in fees in off the clock case
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5th Circuit: Can't clean office fridge without warning
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Fox Rothschild to Full Length Photos!
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Gang Rape Victim to Get 200 Lashes
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Houston Law Center Tops in Unusual Ranking
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Firm of the Year update
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Firm Enters Flat-Fee Deal With Whirlpool
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Beware of the Pigeon Hole
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Wall Street:

New Merrill CEO could face resistance
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Stocks Take Another Late Slide
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True Confessions On Wall Street
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Aviation:

A look at the hedge fund pushing United, Delta into merger talks
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Hedge funds can work to force mergers
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Delta eyes merger under pressure as value falls
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Hedge fund nixed Delta-Continental merger idea
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Northwest May Be Best for Delta
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Airline mergers may not take off
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More US Airline Consolidation Only A Matter Of Time: Analysts
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Columbia Aircraft - Gone But 'Not Really' Gone
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Economy:

Fed survey: Manufacturing up but optimism on decline
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The Consumer Crunch - Recession or not, American families will be forced to tighten their belts
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Consumer prices up sharply
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Energy-Led Price Gains May Restrain Fed
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Crisis as Opportunity
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Treasuries Rise to the Highest Since 2005 in Flight to Quality
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Credit contagion
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Housing may drag U.S. into recession
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Economist sees growing recession threat
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Forest Products:

Pope & Talbot seeks to move bankruptcy hearings
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Horse Racing:

NY Racing Group's Ch 11 Plan Criticized
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Corporate Governance:

High Director Pay on Upswing
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Accounting:

'Tricky' rule on fair-value accounting officially kicks in
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What the Auditor Is Told, a Plaintiff Could Exploit
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S.E.C. Takes Step Toward Global Accounting Rules
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SEC Says Foreign Companies Do Not Have to Adjust to US Accounting
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Former KPMG partner in court today over tax shelters
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Fraud:

3 Hebrew boys | Partners defend financial work, "Jesus in charge"
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Banking:

Fed injects over $47 bln into banking system
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Banks bear strain of short-term debt market troubles
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Barclays, Others See More Writedowns
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Real Estate:

Wells Fargo: Home Slump Like Great Depression
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ResCap Credit Swaps Soar on Concern It May Default
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GE bond fund investors cash out after losses from subprime
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Replacing 'Subprime' CEOs To Cost Investors $1 Billion
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Judge's ruling may alter foreclosures
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Warren: The Law Matters!
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NYers Seek Fixes in Mortgage Mess
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Protections for home-loan borrowers okd
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Sen Dems Criticize White House Response To Housing Crisis
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U.S. Congress prepares for flurry of housing legislation
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'Law School 101' Could Help Struggling Homeowners
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Bay Area home sales dropped 36 percent in October
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Austin foreclosures up 12 percent in past quarter
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What Stockton, Calif. says about the troubled real estate market
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Dallas-Fort Worth area foreclosures surge 10%
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Novastar Plunges Over 60 Pct on Bankruptcy Warning
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Bear Stearns taking $1.2 billion writedown
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Why Some Mortgage Bailouts Make Sense
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When You Wish Upon A Star
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House on verge of passing bill setting new standards for mortgage originators
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Hollywood-based builder TOUSA faces bankruptcy
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Bid period extended on Wildflower assets
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Donald Trump on the pluses of a down real estate market
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Layoffs:

Progressive laying off 341 employees
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Corporate Reform:

Kozlowski Conviction Upheld by New York Appeals Court
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M&A:

Cerberus offers to pay $100M fee or renegotiate United Rentals deal
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Subprime-lending crisis unlikely to dampen M&A activity
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Retailing:

JC Penney sales weaken sharply
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Finance:

US could face $2 trillion lending shock: Goldman
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The world's biggest financial institutions are paying more to borrow in the corporate bond market than the average company
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MBIA, Ambac downgrades may cost market $200 billion
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Security Capital hit by CDO downgrades
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Asset-Backed Commercial Paper Is Little Changed, May Be Stabilizing
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Worry Builds in Junk Markets
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Jewelry:

Fabrikant Creditors to Sue Company
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Municipalities:

Vallejo staff looking at ways to cut spending, bankruptcy suggested
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Hedge Funds:

For an elite few, credit pain means profit
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Food/Drink:

Wachovia asks for dismissal from LeNature litigation
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UST:

UST Director reports to Congress on the utilization of the definition of household goods included in section 522(f)(4)
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Politics:

Warren: Presidential Leadership
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New Bankruptcy Opinions
(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:

(1), (2), (3), (4), (5), (6), (7), (8), (9), (10), (11), (12)
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NEW
Claim Trading Alerts
The easy way to monitor
bankruptcy claims trading
30-Day Free Trial

Autos:

Ford Workers Approve a Four-Year Contract
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Ford to retain US sites
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Ford to Offer Buyouts and Scrap Plan for Plant
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UAW Cuts Can Save Ford
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GM, Ford, UAW Dangle $54 Billion Health Fund Before Wall Street
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Delphi makes changes to bankruptcy agreement
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Creditors object to Delphi loan plan
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Mich. Faces Worst Economic Depression Of Decade
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Toyota Says U.S. Auto Sales to Extend Decline in 2008
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Movies:

Movie Gallery to Delay Bankruptcy Exit
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Pensions:

Corporate pension insurer's 2007 deficit improves over 2006
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Predatory Lending:

Finally - a Creditor's Organization that Tells the Truth!
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Telecoms:

Vonage's Appeal Refused; Verizon Owed $120 Million
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Tech firm cuts losses but sweats bankruptcy
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Eagle Broadband Files Ch 11
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Sales:

LoPucki: Bankruptcy Fire Sales
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Celebrity:

Barry Bonds facing 30 years in jail and a rough financial future
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Financial Literacy:

Education key for finances
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Enron:

Government May Seek Assets From Estate of Dead Enron Founder
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Credit Reporting:

Credit Agency Feels Mortgage Crunch
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Compensation:

Ban 'obscene' exec pay for bankrupt firms
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Mass Torts:

Dana wins court OK for asbestos accords
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Distressed Investing:

Lampert Stays Aggressive Amid Downturn
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Act Fast, Eddie Lampert
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UK:

American hangover tempers British banks' write-off relief
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Big lessons from Northern Rock
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Barclays unveils $3bn write-down
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Japan:

Three top Japanese banks cut forecasts
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EU:

More banks at risk from US subprime fallout: ECB
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Canada:

Bank of Canada injects liquidity
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France:

Credit Agricole Shares Fall as Writedowns Cut Profit
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