Archive for May, 2009
2009 on track to see the most Chapter 11 filings over one year
If – well, more like when – General Motors Inc. files for bankruptcy protection on June 1st, they will become the 99th public company this year to do so. This, according to BankruptcyData.com puts us on track for the worst year, in terms of Chapter 11 filings, ever. The company has roughly $91 billion in [...]
Are the Yellow Pages done?
Faced with falling ad sales and heavy debt, R.H. Donnelley became the latest directory services company to file for bankruptcy Friday. RH Donnelley pointed to the sagging economy for the blame. “Our growth-through-acquisition strategy never anticipated the cataclysmic collapse of the U.S. economy and the local advertising market,” said CEO David Swanson in a statement. [...]
Southwest Airlines’ “hidden fees” have come out of hiding
The lack of extra fees for 1st and 2nd checked bags, combined with attendants like the one in this incredible video has always made Southwest Airlines a favorite for me. But, all good things have to come to an end and Southwest Airlines has introduced a few new policy changes. Let me say, however, the [...]
American Airlines to stop accepting cash on-board
Following in the footsteps of competing airlines, American Airlines announced Wednesday that they will no longer be accepting cash for purchases on board their flights. The change will come Monday and attendants will now carry hand held devices to record all on board purchases. “By moving to a cashless cabin, the transaction process is more [...]
Samberg, Pequot Capital shuts down after S.E.C. reopens 3 year old investigation
On the heels of an investigation launched by the S.E.C., news has emerged that Arthur Samberg’s Pequot Capital Management Inc. will be shutting down. The Wall Street Journal reported today that they received a letter from Samberg that, while denying any foul play, the S.E.C. investigation has “cast a cloud over the firm” and in [...]
GM sweetens the deal, bankruptcy still likely
In an unexpected turn of events, General Motors Corp. has, reportedly, been able to sway a committee of bondholders to sign on to a sweetened version of their previous proposal to erase GM’s unsecured debt in a trade for company stock.
Now, speculations are that a Chapter 11 bankruptcy filing is still likely, however sources close [...]
JetAmerica flights under $10
JetAmerica, a brand-new, extra-inexpensive Airline has announced that it will be set to the runway in July.
What is “brand-new, extra-inexpensive” you ask?
How about nine bucks?
JetAmerica, starting July 13, will be launching its Boeing 737s for those traveling from Newark’s Liberty Airport to Toledo, South Bend, Lansing, and Melbourne-Vero Beach. This should prove to be a [...]
