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Hostess Cupcakes & Twinkies Declare Bankruptcy & File Chapter 11 Because of Obama’s Chevy Volt


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Recorded on Jan. 10 2012 Hostess files for bankruptcy due to large debt, primarily Union Pensions they can no longer afford because of the Liberal Polices of the Obama Administration that gave us the Chevy Volt.

Duration : 0:2:32

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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

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Friendly’s is Filing for Chapter 11 Bankruptcy And Closes 63 Stores

Restaurant chain, Friendly’s is filing for Chapter 11 bankruptcy protection and already closed 63 stores.

The company says the slump in the economy with higher costs and high rents drove it file for bankruptcy protection.

Friendly Ice Cream Corp. announced that it has held $70 million in financing and that its 424 remaining restaurants will stay open as it restructures under bankruptcy protection.

It says the store closings and its reorganization efforts will better position it for the future.

Sun Capital Partners, its current owners will be the lead, or “stalking horse” bidders, in an auction process.

Friendlys is a 76-year-old company known for its ice cream and hamburgers.

Duration : 0:0:56

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Harvey Miller Says Lehman May Exit Bankruptcy This Year

Feb. 9 (Bloomberg) — Harvey Miller, a partner at Weil Gotshal & Manges LLP and bankruptcy lawyer for Lehman Brothers Holdings Inc., talks about the outlook for Lehman and the banking industry.
Miller, speaking with Erik Schatzker on Bloomberg Television’s “InsideTrack,” also discusses the U.S. bailout of General Motors Co. and the prospects for municipal bankruptices. (Source: Bloomberg)

Duration : 0:10:6

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Henes Says States Should Be Able to File for Bankruptcy

Jan. 12 (Bloomberg) — Jonathan Henes, a bankruptcy attorney at Kirkland & Ellis LLP, discusses the need for legislation allowing U.S. states to file for Chapter 11 bankruptcy protection.
Henes talks with Margaret Brennan on Bloomberg Television’s “InBusiness.” (Source: Bloomberg)

Duration : 0:5:13

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