Tag Archives: bankruptcy

Reader’s Digest Association Inc, whose namesake magazine has been a staple of dentists’ offices for generations, said on Monday it planned to file for Chapter 11 bankruptcy for its U.S. businesses as part of a prearranged plan with lenders to cut debt by 75 percent. The media company, known worldwide for its family magazine filled with general-interest and inspirational stories, ... Read More »

The recession hit automobile giant Ford is back on track. It has managed to post $2 Billion quaterly net profit. Ford Motors managed this purly from restructuring. Ford also said it was on track to at least break even in 2011. This made the investors happy! It shot Ford shares up more than 9%. Ford also posted an operating loss ... Read More »

General Motors Corp filed for bankruptcy on Monday, forcing the 100-year-old automaker once seen as a symbol of American economic might and dynamism into a new and uncertain era of government ownership. The bankruptcy filing is the third-largest in U.S. history and the largest ever in U.S. manufacturing. The decision to push GM into a fast-track bankruptcy and provide $30 ... Read More »