Posts Tagged ‘Crisis’
AMERICAN AIRLINES FILES FOR BANKRUPTCY 11-29-2011
AMR Corporation (“the Company”), the parent company of American Airlines, Inc. (“American”) and AMR Eagle Holding Corporation (“American Eagle”), announced that in order to achieve a cost and debt structure that is industry competitive and thereby assure its long-term viability and ability to continue delivering a world-class travel experience for its customers, the Company and certain of its U.S.-based subsidiaries (including American and American Eagle), today filed voluntary petitions for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of New York.
AMR will be filing monthly operating reports with the Bankruptcy Court and also plans to post these monthly operating reports on the Investor Relations section of AA.com. The company will continue to file quarterly and annual reports with the Securities and Exchange Commission, which will also be available in the Investor Relations section of AA.com.
AMR’s lead counsel is Weil, Gotshal & Manges LLP and its financial advisor is Rothschild, Inc.
Duration : 0:0:43
Introduction – Financial Aid with Professor Birdthistle
Introduction to the Series
See also:
Lesson 1: What is a Company?
Lesson 2: What is a Bank?
Lesson 3: What is Debt?
Lesson 4: What is Equity?
Lesson 5: What is a Stock Exchange?
Lesson 6: What is a Fund?
Lesson 7: What is Retirement?
Lesson 8: What is Financial Information?
Lesson 9: What are Taxes?
Lesson 10: What is an Economy?
Lesson 11: What is Insurance?
Lesson 12: What is Bankruptcy?
Original music by Lee Weisert.
Duration : 0:5:29
Rochelle on Harrisburg Bankruptcy and Lehman Claims Trading
Oct. 20 (Bloomberg) — Bloomberg Law’s Lee Pacchia talks with Bloomberg News bankruptcy columnist and editor-at-large Bill Rochelle about the week’s bankruptcy news and legal developments including Harrisburg, Pennsylvania and Lehman Brothers Holding Inc.
Duration : 0:4:3
MLB LOS ANGELES DODGERS FILE FOR BANKRUPTCY 6-27-2011
The Los Angeles Dodgers have filed for Chapter 11 bankruptcy protection. The move comes three days before payroll is due.
The team filed for bankruptcy protection, “in order to protect the franchise financially and provide a path that will enable the Club to consummate a media transaction and capitalize the team,” according to a news release
Under the filing, former Dodger Manny Ramirez is listed as the number one unsecured creditor. He’s owed nearly $21 million, according to the bankruptcy filing.
Andruw Jones, who now plays for the New York Yankees, is owed more than $11 million and Dodgers announcer, Vin Scully, is owed $152,778
Duration : 0:1:33
CONGRESS TO LET STATES DECLARE BANKRUPTCY 1-21-2011
Link From: http://www.newzzcafe.com/
Policy makers are working behind the scenes to come up with a way to let states declare bankruptcy and get out from under crushing debts, including the pensions they have promised to retired public workers.
Unlike cities, the states are barred from seeking protection in federal bankruptcy court. Any effort to change that status would have to clear high constitutional hurdles because the states are considered sovereign.
Nations do not go broke. Nations do not default. Nations have a blank check to write with no balance.
The currency collapses. States do go broke.
-Jim Sinclair
Duration : 0:2:29
