Shares dropped to a 52-week low on Thursday for Dura Automotive Systems Inc. after an analyst predicted a bankruptcy filing by this auto supplier. The analyst also predicted that the bankruptcy process may be drawn out. Production cuts announced by Detroit-based automakers have hurt this company’s finances.

“Thompson predicted that Dura will File for [...]

An unexpected rise of jobless benefits by U.S. workers was reported by the government last week. U.S. workers filed 7,000 claims last week. The Labor Department also announced that first-time claims for state unemployment insurance benefits rose from 318,000 from the previous weeks claims of 311,000.

“In the week ending Sept. 16, the advance [...]

The “reforms” to the bankruptcy code included strict new deadlines which companies must abide by if they are to succeed in bankruptcy. The Federal Reserve has undertaken a study of the impact of these new shortened deadlines of corporate cases.

In the context of this study comes the finding that the tenure of [...]

In 1998, the Religious Liberty and Charitable Donation Protection Act was enacted. In part, this act amended Bankruptcy Code 1325 by recognizing that charitable contributions that do not exceed 15 percent of a debtor’s gross income may be excluded from the debtor’s disposable income in calculating the amount to be paid to creditors as [...]

Oneida Ltd.’s pre-negotiated plan of reorganization was confirmed by the US Bankruptcy Court for the Southern District of New York on August 30, 2006. On September 15, Oneida announced that it had completed its $170 million exit financing and emerged from bankruptcy as a privately held company.

Oneida was incorporated in 1880 and is one [...]

A court analyst described the Supreme Court’s announcement that it will make same-day transcripts of its oral arguments available on its website http://www.supremecourtus.gov as “almost revolutionary.” Progress in digital technology and a new arrangement with the court’s transcript service has made this new policy available.

“It’s a tremendous opening to the outside world,” said Richard [...]

Shares dropped to a 52-week low on Thursday for Dura Automotive Systems Inc. after an analyst predicted a bankruptcy filing by this auto supplier. The analyst also predicted that the bankruptcy process may be drawn out. Production cuts announced by Detroit-based automakers have hurt this company’s finances.

“Thompson predicted that Dura will File for [...]

Ford Motor Company announced major cuts on Friday. The company plans to cut more than 10,000 salaried employees, offer buyouts to all of its U.S. hourly workers, and shut down two more plants in an effort to become profitable once again.

“The company said in a news release that it would shutter a stamping plant [...]

Many homeowners are experiencing tough times with the slowing of the real estate market and the rise of adjustable rate mortgages. August reported the second highest foreclosure total for this year. Approximately 117,000 homes entered foreclosure.

“In August, 115,292 properties entered into foreclosure, according to RealtyTrac, an online marketplace for foreclosure sales. That [...]

Five out of the 12 Federal Districts have reported a downshift in growth in their regions. Seven of the other regions have reported a moderate growth. The Beige book (which is a report that is prepared by the New York Fed) reports that the slower growth is concentrated in the Northeastern region and [...]