Posts Tagged ‘Pension’
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
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.”
Copyright Bloomberg 2011
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States file for bankruptcy chapter 11 illinois pension plans education budget cuts tax increase labor union contracts schools
Duration : 0:5:13
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
Preparing for Bankruptcy & Retirees’ Rights in Chapter 11
This is the second of three short videos containing excerpts from talks given at the National Chrysler Retirement Organizations ( www.NCRO.org ) Breakfast on April 29, 2009. Some GM and other company retirees were invited to that event. All three talks underscore the need for salaried retirees to organize. In particular, GM retirees are advised to visit www.GMRET.org .
The talk is by Dean Gloster, an attorney who handled the Delta and Delphi bankruptcies and addresses protecting retiree benefits.
Duration : 0:9:4
