Category Archives: bankruptcy

Judge Clears Sale of Chrysler to Fiat

NY Times

A federal judge on Sunday night cleared a path for Chrysler to exit bankruptcy by approving a sale of most of the carmaker’s assets to a new entity to be run by Fiat of Italy.

Judge Arthur J. Gonzalez of the United States Bankruptcy Court for the Southern District of New York approved the government-backed plan after three days of marathon hearings on the proposal. On Friday, testimony and arguments in federal bankruptcy court in Manhattan lasted nearly 12 hours.

With the approval, a newly reorganized Chrysler could come out of bankruptcy as early as this week, about a month after seeking protection, an extraordinarily short amount of time for a reorganization.

READ MORE >>> Here

Leave a comment

Filed under bankruptcy, Chrysler, Fiat, NY Times

Trends Analyst Gerald Celente: Great Depression of 2009 Coming

Unless you’re a night owl, or happen to work the overnight shift, you propbaly did not hear the latest interview of Gerald Celente, the worlds leading authority on trends. Celente appeared on the Coast to Coast AM radio program this past Thursday night with host Art Bell.

Celente’s predictions for the coming year is extremely gloomy, you may or may not, want to heed his advice. Either way this interview made good radio. 

Trends analyst Gerald Celente shared his dire economic outlook for the coming year. By February, there’ll be major bankruptcies in the retail sector, leading into the collapse of the commercial real estate market that’ll be worse than the problems with home mortgages, he warned. He sees a global depression taking hold in 2009, and protests by students and/or workers related to the economy coming in the Spring.

Celente’s predictions for the coming year is extremely gloomy, you may or may not, want to heed his advice. Either way this interview made good radio.
Here is Art Bell’s interview broken down into 4 parts:
Gerald Celente Economic Update 12/18/08 pt. 1

Gerald Celente Economic Update 12/18/08 pt. 2

Gerald Celente Economic Update 12/18/08 pt. 3

Gerald Celente Economic Update 12/18/08 pt. 4

Leave a comment

Filed under Art Bell, bankruptcy, Coast to Coast AM, ecomonic outlook, Economic Crisis, Gerald Celente, global depression, Great Depression, protests

Trends Analyst Gerald Celente: Great Depression of 2009 Coming

Unless you’re a night owl, or happen to work the overnight shift, you propbaly did not hear the latest interview of Gerald Celente, the worlds leading authority on trends. Celente appeared on the Coast to Coast AM radio program this past Thursday night with host Art Bell.

Celente’s predictions for the coming year is extremely gloomy, you may or may not, want to heed his advice. Either way this interview made good radio. 

Trends analyst Gerald Celente shared his dire economic outlook for the coming year. By February, there’ll be major bankruptcies in the retail sector, leading into the collapse of the commercial real estate market that’ll be worse than the problems with home mortgages, he warned. He sees a global depression taking hold in 2009, and protests by students and/or workers related to the economy coming in the Spring.

Celente’s predictions for the coming year is extremely gloomy, you may or may not, want to heed his advice. Either way this interview made good radio.
Here is Art Bell’s interview broken down into 4 parts:
Gerald Celente Economic Update 12/18/08 pt. 1

Gerald Celente Economic Update 12/18/08 pt. 2

Gerald Celente Economic Update 12/18/08 pt. 3

Gerald Celente Economic Update 12/18/08 pt. 4

Leave a comment

Filed under Art Bell, bankruptcy, Coast to Coast AM, ecomonic outlook, Economic Crisis, Gerald Celente, global depression, Great Depression, protests

>Coming up: A huge pension bailout?

>The housing bubble lead to the mortgage crisis, then the financial crisis and the auto industry crisis, commercial real estate is on the verge of a crisis with so many businesses filing for bankruptcy and closing their doors, can a pension bailout be far behind? Michael Brush seems to think so.

Brush has posted an article on MSN Money explaining why he thinks a pension bailout is not far behind:

“Americans with 401(k) plans in stocks have been feeling queasy for months as they’ve watched their savings vanish at alarming rates.

But workers covered by traditional pension plans — the ones 100% funded and managed by companies for employees — have so far avoided that sinking feeling.

Unlike the 401(k) crowd, they don’t get monthly statements bearing the grim news of the lousy performance of the investments in their pension plans.

But with stocks and bonds crushed, many of these old-school defined-benefit plans now look downright wobbly. If the economic weakness continues long enough, many could end up in the hands of the independent government agency responsible for taking over failing plans….”

Leave a comment

Filed under Auto Industry, bailout, bankruptcy, commercial real estate, Financial crisis, Michael Brush, mortgage crisis, MSN Money, pensions

Coming up: A huge pension bailout?

The housing bubble lead to the mortgage crisis, then the financial crisis and the auto industry crisis, commercial real estate is on the verge of a crisis with so many businesses filing for bankruptcy and closing their doors, can a pension bailout be far behind? Michael Brush seems to think so.

Brush has posted an article on MSN Money explaining why he thinks a pension bailout is not far behind:

“Americans with 401(k) plans in stocks have been feeling queasy for months as they’ve watched their savings vanish at alarming rates.

But workers covered by traditional pension plans — the ones 100% funded and managed by companies for employees — have so far avoided that sinking feeling.

Unlike the 401(k) crowd, they don’t get monthly statements bearing the grim news of the lousy performance of the investments in their pension plans.

But with stocks and bonds crushed, many of these old-school defined-benefit plans now look downright wobbly. If the economic weakness continues long enough, many could end up in the hands of the independent government agency responsible for taking over failing plans….”

Leave a comment

Filed under Auto Industry, bailout, bankruptcy, commercial real estate, Financial crisis, Michael Brush, mortgage crisis, MSN Money, pensions