News

American Airlines CEO raises merger possibility - USA Today

07/11/12

Horton's comments, which he made in a letter to employees, come as AA parent AMR enters its seventh month of reorganizing under Chapter 11 bankruptcy protection. "We are approaching the point where we have greater clarity on our revenue outlook and cost ...

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PFGBest files for bankruptcy - Des Moines Register

07/11/12

A Chapter 7 petition filed in U.S. Bankruptcy Court in Chicago by Peregrine Financial Group inc. of Cedar Falls indicates that the company will have between $10,001 and $25,000 to distribute to customers and other unsecured creditors.

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US brokerage PFG files for bankruptcy - BBC News

07/11/12

US futures broker Peregrine Financial Group, which has been accused of fraud, has filed for Chapter 7 bankruptcy, meaning it will be liquidated. Its accounts were frozen on Monday following the attempted suicide of its founder, Russell Wasendorf Sr.

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Calif. bankruptcies decline faster than U.S. filings - msnbc.com

07/11/12

However, because of its large population, the Golden State ranks 10th in the number of bankruptcies per capita, 5.35 filings per 1,000 population. The states with the highest bankruptcy rate per capita are: Nevada, 7.06 filings per 1,000 population ...

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Centrotherm Seeks Bankruptcy Protection as Solar Founders - Bloomberg

07/11/12

The Blaubeuren-based company filed for Chapter 11-type protection in Ulm’s district court to start insolvency proceedings, Centrotherm said in a statement late yesterday. For three months, it will be shielded from creditors while its ...

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San Bernardino becomes 3rd Calif. city in 2 weeks to file for bankruptcy protection - msnbc.com

07/11/12

San Bernardino has a 15.7 percent unemployment rate and about 5,000 homes in ... The vote makes San Bernardino the latest California city to teeter on the edge of bankruptcy. Officials in Stockton said their June decision to seek federal ...

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AMR Finally Grows Up - Marketwatch

07/11/12

AMR filed for Chapter 11 more than seven months ago. Management had harbored hope that the company and its American Airlines operations could emerge as independent operations. AMR has decided to admit that the plan was nothing more than a dream.

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Another California city opts for bankruptcy - St. Louis Post-Dispatch

07/11/12

As recently as last month, no city in California had opted for bankruptcy since 2008, and no U.S. city of more than 200,000 people had ever chosen bankruptcy. The past two weeks have changed all that, in a big way, as the fiscal struggles faced by so many ...

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3rd Calif. city to file for bankruptcy in 1 month - CBS News

07/11/12

(CBS/AP) SAN BERNARDINO, Calif. - The Southern California city of San Bernardino has voted to declare bankruptcy. The City Council in the city of 210,000 people decided to seek Chapter 9 protection Tuesday night, making it the third California ...

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San Bernardino seeks bankruptcy protection - Los Angeles Times

07/11/12

Filing for municipal bankruptcy protection will allow San Bernardino to renegotiate contracts, including those with employees, and stave off creditors while officials restructure the city's finances. Current employee pension obligations ...

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