“you never know where you will find a grain of truth” I offer this: Jon Stewart, the admitted entertainer who hosts “the Daily Show” interviewed Jim Cramer, the financial expert, and the results were illuminating!  Cramer lies, is proven to lie with a video tape and then  they get into a discussion about the “two [...]

The US House of Representatives, specifically, the Committee on the Judiciary, held a hearing on the topic of why corporate Chapter 11 cases fail so much more often after the 2005 amendments to the Bankruptcy Code.   Here is a link to the Congressional web site where one may access all of the transcripts of those [...]

There has been a refrain sung by the cheerleaders (the same ones who are telling people not to sell their stock…) that while some areas of the markets are declining (a gross understatement) that others will rise, like the lower end of the retail market.  News today that Target’s profits fell 41%.
“MINNEAPOLIS (AP) — Target [...]

Law firms too are cutting back due to the economy.  A few Thursday’s ago, over 800 people lost their jobs at various national law firms in one day.  These cuts included staff and associate attorneys.  More cuts followed in the next day or two.  “Almost 800 associates and legal staff nationwide returned home jobless Thursday [...]

As noted yesterday, there will be an increasing focus on “who to blame” as this crisis continues.  Who better than those who paid themselves huge bonuses out of their normal timing on the eve of a failure?  Here is more information on the investigation into the 3.6 billion in unscheduled bonuses paid to Merrill’s top [...]

Sirius XM is preparing a chapter 11 filing in order to fend off an unwanted take over by EchoStar, “whose CEO, Charlie Ergen, has been buying up Sirius XM debt in a bid to take control of the company.”
“Ergen and Sirius XM CEO Mel Karmazin are two of the media industry’s most adroit dealmakers, and [...]

Here is an article on companies which are most likely to fail in ’09.  Included on this list are Chrysler, Claire’s, Six Flags, Krispy Kreme and Blockbuster.  Depressing. 
“Who’s next?  With consumers shutting their wallets and corporate revenues plunging, the business landscape may start to resemble a graveyard in 2009. Household names like Circuit City and [...]

In a variation of the Nigerian check-fraud scheme that has been wide-spread on the internet over the last several years, at least two Texas lawyers have been targeted for a total loss of almost $500,000.
Houston lawyer Richard T. Howell, Jr., went public with his case, hoping to educate other lawyers so they may avoid being [...]

Case No. 08-34113-SGJ-7, In re MD Promenade, Inc..
MD Promenade, Inc., the debtor in this case, is an entity which ran a restaurant in Dallas (the now-defunct Metro Grill). After filing a voluntary Chapter 11 petition on August 19, 2008, the debtor failed to file schedules timely, did not file any “first day” pleadings, failed to [...]

Many pundits are saying that the reporting of the news is in and of itself making things worse, however, the economic meltdown is more than a mental malaise as Phil Gramm said back in July. It is real and most people (inside and outside of the government) do not understand that the government simply may [...]