May 29, 2008

Daily Bankruptcy News

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Law:

Behind the Sonnenschein Layoffs: Pushing for Profitability
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Sonnenschein layoffs add to legal market woes
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Law Grad Writes to Newspaper About 'Desperate' Search for a Job
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Some Bingham Lawyers Blame Departures on Management
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Update on Start Dates: DLA Piper, Pillsbury Winthrop
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The Am Law Second Hundred
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Subprime wipeout
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DLA's $60 Million Question
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Summer Associate of the Day: Alter Ego 'Divljan Shatterhand Steele'
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Associate Life Survey Results: Bunches of Lunches
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Gender Gap Due, in Part, to 'Ambition Gap?'
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Clifford Chance announces 11 per cent revenue increase
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Fen-Phen Lawyer Trial Delayed After Defendant is Hospitalized
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South Florida Law Firms Feel the Real Estate Slump
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The Bear Stearns Meltdown: A Spotlight on S&C's Rodgin Cohen
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Sullivan Chairman Sees Slow Deal-Market Until End of the Year
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Recruiter Loses Bid to Collect Merger Fee From Blank Rome
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Holland & Hart Merges With Hale Lane to Form 415-Attorney Firm
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Blackwater's Suit Against Wiley Rein Dismissed
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FedEx Fee Fight Packs $25,000 Sanction
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Sanctioned Lawyer Throws Himself on the Mercy of the Court
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Congressional committee willing to arrest Rove if he does not testify
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Outsourcing, Attorney-Client Privilege and the Fourth Amendment
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Why Law Firm Public Relations Fails
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"CSO's?"
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The bar exam is stressing you out. How do you spell relief?
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Former Child Actor, Now Blind, Will Begin Stint as O'Connor Law Clerk
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Lawyer Suspended for E-Mail Snooping
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Judges:

Judges Behaving Badly
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Wall Street:

Stocks point to slightly lower open ahead of data
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Futures Flat Ahead of GDP Revision
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Stocks End Higher in Volatile Session
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Stocks, Crude Continue Stand-Off
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Bear Stearns cries foul and calls for watchdog over trades
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Bear Stearns: How to Buy a Distressed Investment Bank -- And Make It Legal
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It's Wall Street, Without the Cash
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Goodbye, Bear Stearns
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Bear Stearns Neared Collapse Twice in Frenzied Last Days
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Lehman Remains 'Undercapitalized,' Greenlight's Einhorn Says
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J.P. Morgan questions earnings forecasts of i-banks
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Mining:

Grupo Mexico loses bid for Tucson-based copper producer Asarco
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Judge delays Asarco challenge
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Asarco Picks Buyer for Assets
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Retailing:

Specialty retailers rise
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Metropolis may have a buyer
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Provide Commerce buys RedEnvelope in bankruptcy
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Sears Canada Rises as Earnings Increase on Real-Estate Sales
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Sears Posts Unexpected Loss on Markdowns
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Linens 'n Things wins DIP
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Insurance:

AIG takes hit on capital questions
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Citi: AIG's $20 billion capital raise not enough
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Hedge Funds:

Bear Stearns Funds Lose Bankruptcy Appeal
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Hedge Fund Administrators Report $2.759 Trillion in Hedge Fund Assets in Q1 2008
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Man Profit Rises 60% as Biggest Fund Outscores Peers
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Politics:

Top McCain economic advisor lobbied for mortgage bank
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Obama Spells Out Housing Proposals
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Intellectual Property:

Offshore Securitization Of IP Assets
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Forest Products:

Offer in for Pacific Lumber mill
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Mass Torts:

Lawyers ask court to deny hearing for W.R. Grace
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Court Ruling Gives New Life to Thousands of Asbestos Suits
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Retroactive reach of Florida asbestos law limited
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Resorts:

Yellowstone Club Legal Drama Rages On
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Real Estate:

Home prices rise (somewhere).
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Housing crisis legislation likely
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Unconscionability and Funky Mortgages
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The Subprime Crisis May Be Over
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AmSouth building owners file bankruptcy petition
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Trump accused of distorting facts on failed Meadowlands project
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A New Foreclosure TV Show!
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Harbour Walk Preserve developer files Chapter 11
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Countrywide's Sambol Plans to Leave After Takeover
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NY Pols Battle Over Foreclosure Fix
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Is It Better to Buy or Rent?
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Softer market finds few bidders at real estate auction
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Economy:

Unexpected Strength in Durable Goods
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US Probably Grew at Faster Pace in First Quarter on Exports
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Should the Fed Lend to Investment Banks?
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Mishkin to Leave Fed in August, Return to Columbia
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Fed Should Lift Rates If Inflation Outlook Worsens, Fisher Says
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OPEC says oil should be $60/$70 barrel
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Morgan Stanley Says Brent Oil May Reach $150
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Senator slams commodity regulator over oil speculation
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Energy agency foresees more expensive oil
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Oil Exporters Are Unable To Keep Up With Demand
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Crude Oil Falls as High Prices May Curb US, Asian Fuel Demand
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First Housing, Now Oil
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Aviation:

Deals Fade, and Airlines Look to Cut
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UAL, US Airways Chiefs to Meet Tomorrow on Merger
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United an old maid in merger love fest
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American begins cutting schedule, retiring aircraft
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JetBlue's Growth Plans In Holding Pattern
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Delta attendants turn down union in Round 1
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March business travel down most since '03, says IATA
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Frontier bleeding cash: $16 million in three weeks
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Bankruptcy trustee objects to Frontier severance plan
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Should the Government Encourage Airline Mergers?
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)

ATG files bankruptcy after options run out
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Teamsters Urge UAL Shareholders to Withhold Votes From Tilton
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For Airlines, Passengers are a Lose-Lose Proposition
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Merger Off, Alitalia Seeks a Recap Plan
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Plan Confirmation:

United Producers bankruptcy ruling affirmed by appeals court
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Corporate Governance:

ExxonMobil investors reject CEO-chairman split
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FTC settles with investigators in HP spy scheme
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Illinois Court Determines Delaware Law Allows Piercing LLC's "Corporate Veil"
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Health Care:

Chapter 11 for Drummond
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Hospital's cuts sow anxiety in South LA
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Metcare reorganization delayed
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Genitope landlord cancels option, company may seek bankruptcy
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South Florida a hotbed of Medicare fraud
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Go Fig will go bye-bye
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Celebs:

Boy Band Mogul Sings the Blues
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Actor comes clean about money
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Municipalities:

Jefferson County, Banks Discuss Payment for Extension
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Vallejo Chap. 9 Filing Goes Before Judge
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M&A:

LBO Firms Must Return Cash to Change Plan, Hands Says
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Pensions:

Retirees' pensions slashed
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Insider Compensation:

Trustee slams plan for exec severance
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Corporate Reform:

Another Firm Gets Tangled in ARS Web - First Southwest settles with SEC after regulator claims that company intervened in auctions without adequately disclosing its positions
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Debt Collection:

NAF, Just NAF
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Tax:

New Law Seeks Revenue from Tax Exiles
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Finance:

Study Casts Doubt on Key Rate
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Libor Proxies Gain as Traders Seek Truth With Swaps
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New Bankruptcy Opinions
(No new opinions 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)
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Autos:

American Axle expects to cut 2,000 US factory jobs
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American Axle sees savings in new UAW contract
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Creditors seek voice in Delphi suit
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Car parts makers' health improves
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GM plans more restructuring measures
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GM Director: Board Stands Behind CEO
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General Motors May Cut Truck, SUV Production, Boost Car Output
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New Ford cuts jolt workers
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Ford's reality grows ever harsher
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Exemptions:

SC: Bankruptcy rules loosened in favor of debtors
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The Myth of the Non-Bankruptcy Exemptions
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Bankruptcy Statistics:

US personal bankruptcy growing
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Rating Agencies:

Moody's, S&P Face Closer Scrutiny on Structured Bonds
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S&P, Moody's Must Differentiate Asset-Backed Grades, IOSCO Says
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Rating agencies banned from designing products they cover
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Watchdogs eye rating agencies
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SEC Pushes for New Risk Scorecard
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Banking:

Key Falls Most Since 1987 as Costs of Uncollectible Loans Rise
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Bad Omens for Banks?
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UBS's Rohner Says Worst of Bank Crisis Over
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Horse Racing:

Mixed Signals on NYRA Franchise Deal
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Paterson says he wouldn't pick NYRA
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Credit Reporting:

Attorneys Slam 'Bailout Plan' for Businesses
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Personal Finance:

Dear Son, Please Move Out
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Software:

Patron wind-down nears end
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Accounting:

Deloitte signals $27bn plus in global revenue
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Fraud:

$80 Million Mail Fraud
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Skiing:

Judge Postpones Auction Of Land For Ski Area In Middlefield
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Gambling:

Bankruptcy may delay Aztar deal
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Metals:

Mega Shredder future remains a mystery
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UK:

British PM warns of global oil 'shock'
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UK House Prices Drop the Most Since 1991
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Why falling US confidence is bad for the UK
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Are we entering a second phase of the credit crunch?
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Deloitte closes in on top spot as £2bn barrier stands ready to fall
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GDP figures confirm worsening threats facing the economy
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Australia:

Coast builder files for bankruptcy
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Coast's rich list cut by credit crisis
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Davnet co-founder fined by court for illegally managing companies
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Australia's Economy Contracted in First-Quarter
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'Alan Bond should repay creditors'
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Japan:

Scandals force Senba Kitcho to close
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Canada:

Financial difficulties cause company to recall workers across province
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Toronto-Dominion Profit Falls on Investment Bank
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Spain:

Spain looks on the bright side of a crash
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EU:

Soaring prices at the core of ECB dilemma
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Germany:

Germany's Inflation Jump Pressures ECB
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Korea:

SKorean court confirms suspended sentence for SK Group chief
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