Posts Tagged ‘economy’
Borders Books Files Bankruptcy 194 stores closing Job Loss Economic Collapse Phoenix Arizona
Borders Group Inc.’s big-box book and music superstores chased many independent sellers out of the business as the company rose to national prominence in the 1980s and 1990s. Now, Borders, too, is falling victim to changing shopping patterns.The company, beset by online competition, burgeoning digital book and music sales, and its own business choices, hopes to find a better place in the rapidly changing retail book industry after filing for Chapter 11 bankruptcy reorganization on Wednesday.
Borders announced that it would close eight of its 13 Arizona bookstores and lay off hundreds of local employees. The stores are scheduled to close by the end of April after inventory reduction sales.
February 17, 2011
Avondale, Arizona
SUPPORT YOUR LOCAL RETAILER!
When you support your local retailer, You are supporting your local economy. Before you decide to pump your money into corporate giants, Please consider that your local corner mom & pop stores are working hard to make ends meet. They are your neighbors and would like to feed their family as well.. So Instead of contributing to corporate executives Hawaiian Vacations, Shop at your local retail stores. support Your Neighborhood, Your Town and Your Economy.
©arizonapublic
TWITTER: http://twitter.com/ArizonaPublic
Duration : 0:3:22
Bankruptcy & Reorganization – Richard Croak
The Subject Matters Host Joe Condon talks with Bankruptcy Attorney at Law Richard Croak about Bankruptcy and Reorganization.
Info: www.richardcroak.com
Duration : 0:11:57
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
Rochelle on Borders, Blockbuster and Innkeepers Bankruptcies: BLAW
May 19 (Bloomberg) — Bloomberg Law’s Lee Pacchia talks with Bloomberg News bankruptcy columnist and editor-at-large Bill Rochelle about today’s bankruptcy news and legal developments regarding Borders Group Inc., Blockbuster Inc. and Innkeepers USA Trust.
Duration : 0:4:44
Sbarro Filing For Chapter 11 Bankruptcy Protection
Sbarro Inc. said that it is filing for Chapter 11 bankruptcy protection as it looks to restructure.
The chain has suffered since consumers reduced spending in the recession. It was also hurt due to the fact that many restaurant locations are in retail malls, which shoppers avoided during the economic downturn.
Sbarro is also hurt by debt that it took on when private-equity firm MidOcean Partners bought it in January.
It has total assets of about $471 million and about $486.6 million in debt, according to the bankruptcy filing.
Duration : 0:0:42
