After much discussion of a possible bankruptcy, the United States Post Office has decided to  make major cuts to operations instead. Big changes loom in the horizon, including the closing of several locations and jobs, unless Congress steps in to help. Dim Future The U.S. Postal Service has been suffering financial trouble for years now  … Read more

HM Drydocks, now Malta Drydocks, is being sued by nearly 400 former workers and heirs for compensation. Even after the company filed for bankruptcy, previous employees and their families are suing for damages over work related illnesses and death. Financially Responsible Suffering illnesses, cancer and death caused by asbestos exposure on work grounds, the plaintiffs  … Read more

In this tough economy the tourism and travel industries have taken quite a hit. With more people staying local for their vacations and the surge in online hotel discounts, many major travel entities are suffering. The UK based hotel chain, Travelodge, is reporting financial troubles that could land them in bankruptcy court if the parent  … Read more

While some are out sending flowers and buying gifts for loved ones today, many American Airline employees will be taking to the picket lines outside the Dallas-Fort Worth airport. After the recent news of American Airline bankruptcy plans, many employees are speaking out about the fate of their jobs and benefit funds. Not Taken Lightly  … Read more

The recent bankruptcy announcement by the Kodak company has sparked much debate among other technology companies. Now accusing several other companies of stealing their technology and infringing on patent rights, Kodak has ruffled the feathers of a few well known players in the technology field. Big Accusations In what most view as a desperate attempt  … Read more

It seems the disappointing news over the American Airlines bankruptcy keeps coming with each passing day. After last week’s announcement of the possible elimination of several union benefit contracts and close to 13,000 job cuts, company officials continue to insist that the company is headed towards a successful bankruptcy exit. Although many employees and consumers  … Read more

Nearly two months after the airline bankruptcy announcement, company executives will meet today to discuss plans for debt restructuring efforts.  After several rounds of job cuts, reductions to services and the controversial hiring of financial advisors, airline employees brace for the worst by week’s end. Up For Discussion In cases like this, bankruptcy is very  … Read more

Just two weeks after the Hostess bankruptcy announcement big fingers are being pointed, ones that could stand to significantly influence the outcome of the case. Claiming a “profound competitive disadvantage”, Hostess is blaming its commitments to unions employees as the reason for the Chapter 11 filing. Defaulting On Obligations Hostess Brands Inc. has formally requested  … Read more

After much debate swarmed the Solyndra bankruptcy filing late last year, many are criticizing Ener1 for the filing wondering why the $100 million in financial support wasn’t enough to maintain profitability. As the parent company of an electric car battery maker, the company is speaking out about the volatility of the market and their future  … Read more

The popular sandwich franchise, Quiznos, was in the hot seat this week as reports of a possible bankruptcy loomed in the news. The Denver-based company has struggled for quite some time now as the economy and poor management have battered the business. After the closing of 40 percent of stores nationwide, company officials began looking  … Read more