Plant makes its final run
Baltimore Sun - Now, some GM workers worry they could end up like the retired Bethlehem Steel workers at Sparrows Point who lost their health coverage and part of their pensions after the steelmaker declared bankruptcy and handed their pensions over to the federal

Bank of America Corporation
Orlando Sentinel - The waterfront mansion of jailed music executive Lou Pearlman, which failed to generate a high-enough bid at auction Saturday to cover the mortgage, will go through foreclosure, a bankruptcy-trustee lawyer said Thursday. Pearlman’s 12,000-square-foot

Bear Stearns Weekend Talks Reveal 2 Key Contenders
CNBC - If there’s no deal bear will have to file for bankruptcy, executives said. People close to the deal say JPMorgan is the likely candidate to take over Bear because the firm has the capital to purchase the entire firm.

Enron Founder’s Widow Sued by Condo
AOL - were “proceeds of the fraud proven in the criminal case against Lay.” Linda Lay has said her husband didn’t commit any crimes and thus her assets are not subject to forfeiture. Enron corp., once the nation’s seventh-largest company, entered bankruptcy

Avoid Overcorrecting Economy, Bush Warns
Forbes - They included proposals to allocate $400 billion to purchase foreclosed-upon and now-abandoned homes, to change the bankruptcy code to allow judges to adjust mortgage rates and to artificially prop up home prices.

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Business Books
Time - Adidas survived corporate intrigue, near bankruptcy and being outmarketed and overtaken by Nike. It is still the No. 2 maker of sporting goods in the world.

Bearish On Bear
Forbes - This is just a bet on bankruptcy. We’ve been asking ourselves for the past year, who’s going to go bust?” said George Feiger, chief executive of Contango Capital Advisors, the wealth management arm of Zions Bancorp.

Text of Kilpatrick’s ‘State of the City’
Detroit News - Tonight, no one is talking about bankruptcy. Tonight, no one is talking about receivership. So we have come a long way in six short years. But, like all urban areas, we still have our challenges.

Gerwing’s Hilton Head business history goes back decades
Beaufort Gazette - Nine months later, it was in bankruptcy. The Hilton Head Holdings bankruptcy was a $100 million affair, with about 2,000 unsecured creditors — many of them local businesses — that were owed about $10 million.

The Business Journal of the Greater Triad Area
Birmingham Business Journal - Foot Solutions, a foot health and wellness store, is opening Monday in The Village at North Elm. The Georgia-based company, which has more than 240 locations worldwide, announced Tuesday it is scheduled to open March 17. The company sells a footwear

FED FOCUS-Fed’s cash deluge sows seeds of future US inflation
Reuters - At the moment, talk of possible bankruptcy by a major financial institution continues to swirl around Wall Street trading desks, making a stimulative monetary policy seem like the most prudent course of action. Continued.

Isakson pushes tax credit to attract buyers
Atlanta Journal Constitution - Q. Why would it be a mistake (to give bankruptcy judges the ability to change terms of mortgage credit)? What would happen? A. Mortgage rates will go up, and what money is available for mortgages will go down.

Look Out for That Lifeline
BusinessWeek - All that can leave borrowers not only with more debt, but even worse, can force them into bankruptcy exactly the situation many were trying to avoid.

Castleton founder has new troubles
Raleigh News & Observer - The Castleton Group’s former landlord has sued the founder of the human resources company in hopes of recovering more than $169,280. The Summit at Lake Boone alleges that Castleton, which is liquidating in bankruptcy, triggered clauses that

Twinkie Maker Delays Bankruptcy Exit
Newsday - KANSAS CITY, Mo. - Interstate Bakeries Corp.’s plan to exit bankruptcy protection went off the rails Friday as the company asked a court to delay hearing the plan because it has begun talking with a new investor. It also said it has begun making

Bankruptcy erases buffet’s gift cards
St. Petersburg Times - NEW PORT RICHEY - Claude Howard liked to take his lady friend to Barnhill’s Buffet every day for lunch. So when the restaurant sold discounted gift cards last December, the couple bought nearly $500 worth to support their daily ritual. This worked

GM stepping in to fill $3 billion loan gap at Delphi
Chicago Tribune - General Motors Corp. agreed Wednesday to offer two loans worth almost $3 billion to help Delphi Corp. emerge from bankruptcy because the auto parts-maker has struggled to secure the financing it needs. Delphi, a GM unit until a 1999 spinoff, has

Court orders $2m payout to Lotto loser
News.com.au - Yesterday’s Supreme Court decision means the owners of a newsagency where Mr Reinhold bought the ticket will probably avoid bankruptcy. Mr Reinhold successfully sued NSW Lotteries and the newsagency that sold him the ticket and then cancelled it.

Sirva seeks to sell unit in Ch 11 case
Boston Globe - WASHINGTON Relocation services company Sirva Inc. is seeking bankruptcy court approval of the sale of its British moving services business, saying the unit could be forced into insolvency proceedings without a cash infusion. In documents filed

Examiner’s Report May Cast Light on Subprime Mess
Law.com - A 500-plus-page tome about what went wrong at New Century Financial — the second biggest subprime lender in the country until its fast descent into bankruptcy last year — has been eagerly anticipated by lawyers across a swath of practice areas. The

5 prominent housing aid proposals
International Herald Tribune - Let bankruptcy judges reduce the obligations of borrowers unable to pay their mortgages, and spend $4 billion ( 2.64 billion) to buy and fix up foreclosed homes.

News of the business week to come
St. Petersburg Times - Bankruptcy Court. Pearlman is awaiting trial on federal bank fraud charges. For more information, go to www.fisherauction.com . [Last modified February 29, 2008, 20:59:58]

Vallejo Budget Deal Opposed By 2 Council Members
KPIX-TV5 - VALLEJO (CBS 5 / BCN) Vallejo police and firefighters will give up 6.5 percent of an 8.5 raise they received last year and accept 50 percent of leave buyouts as part of a tentative agreement their unions reached with the city to try to avoid

Nissan Still Interested in US Partner
San Francisco Gate - He has steered a remarkable turnaround at Nissan from near bankruptcy to profitability and growth. Nissan is expecting to post a 480 billion yen ($4.5 billion) profit for the fiscal year ending March 31.

Housing bill will ‘bail out lenders’ - Bush
CNN Money - The first is a provision that would change the bankruptcy law to let judges reduce the amount of principal and interest due on mortgages of those filing for bankruptcy.

Valley home slump has lenders spooked
AZCentral.com - In the past, home-equity loans were usually frozen only if the homeowner filed for bankruptcy or made late payments, said Andy Griffin of Scottsdale-based Core Mortgage Group.

What Happens When City Hall Goes Bankrupt?
NPR News - That is exactly what officials in Vallejo, Calif., are contemplating. And they are not alone. There’s a long and sad history of municipalities declaring bankruptcy. Here’s a look at how these places got into hot water and what life is like for

Microsoft faces $1.3B antitrust fine from EU
St. Petersburg Times - And although mandatory pilot retirement age is about to change to age 65, Northwest pilots survived bankruptcy with their age-60 pension largely intact and many are expected to retire then rather than wait until 65.

Area’s automotive suppliers struggle for corporate survival
Toledo Blade - Plastech Engineered Products Inc., which has two plants in northwest Ohio and another two in Monroe, with thousands of employees, filed for Chapter 11 bankruptcy protection Feb. 1.

Vallejo pushed closer to bankruptcy
Union - VALLEJO Officials met Tuesday night to discuss the city s financial troubles, which are pushing Vallejo closer to declaring bankruptcy. After labor talks aimed at keep the city solvent broke off Monday night, the city manager recommended that

RV dealer closes
Santa Rosa Press Democrat - Gamel’s Santa Rosa location also was hampered by the November bankruptcy of its motorhome supplier, National RV. “When that happened, we didn’t have a product line,” Gamel said.

Overwhelmed by debt, Studio Arena shuts down
Buffalo News - Bankruptcy Court, where it will seek protection from creditors. As expected, upcoming productions of The Vertical Hour and Side by Side by Sondheim were canceled.

Another union opposes Delta merger
Atlanta Journal Constitution - Delta’s pilots generally have lower seniority than Northwest’s because of a wave of early retirements by Delta’s senior pilots before the carrier filed for bankruptcy in 2005.

McCall may file for bankruptcy
Idaho Statesman - The city of McCall may file for bankruptcy in the next few weeks so city officials can maintain control of the municipal purse. The city may seek the protection of a federal bankruptcy court to block McCall from being held in contempt of court for

Business digest
Lansing State Journal - Bankruptcy Judge Robert Drain also approved the sale of Delphi’s steering business to the Platinum Equity LLC private equity firm in Beverly Hills, Calif.