Restructuring

This week on The Broke and the Beautiful, the Los Angeles Dodgers have scored a new owner in basketball superstar Magic Johnson. Also, Dolby is making noise about acquiring naming rights to the former Kodak Theatre.

When charter-air servicer Direct Air suddenly canceled service and filed for bankruptcy earlier this month, it left many customers stranded and frustrated. But there did seem to be some good news—customers would be able to get unused ticket refunds because the Department of Transportation required Direct Air to hold customer payments in escrow until it hands the money to the actual airplane operator. (Direct Air is a charter service that doesn’t actually own any airplanes).

Monday marked the three-month anniversary of Eastman Kodak Co.’s Chapter 11 filing, so it’s about time for the imaging company’s attorneys and advisers to be callin

It’s been a rough few years for Thumb Oilseed Cooperative Inc. With its second product recall for salmonella in as many years, the Michigan soy product producer landed in Chapter 11 Monday.

Thumb Oilseed sells soy flour, soy grits and refined soy oil under the name Soy Beginnings, declaring all of its products are low carb, trans fatty acids free, organic and non-GMO. But first in February 2010 and then in October 2011, Thumb Oilseeds had to recall thousands of pounds of soy flour and soy meal based on possible salmonella contamination.

It’s out with the old, in with the new for Hostess Brands Inc.