Word: bankrupter
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...hope - a cautious hope - is that Agriprocessors, which went bankrupt in November, will soon be sold. An Israeli firm, Soglowek Nahariya Ltd., made a $40 million offer this month to buy Agriprocessors and a smaller subsidiary plant in Nebraska. "A sale is likely," says Joseph Sarachek, a court-appointed trustee temporarily overseeing Agriprocessors' operations. "This is a real buyer." But he adds that the offer is the opening bid in what will probably be a March auction for the plant, which was once the nation's largest kosher meat producer and once Postville's major employer, with 968 workers...
...regulations were in the works. He and other officials, however, said they were not yet willing to ask for help from the National Guard, as some residents suggested. Coatesville was once a thriving steel town, before the Lukens Steel Co. was bought by Bethlehem Steel in 1997. Bethlehem went bankrupt in 2003, taking with it the pensions of many Coatesville residents. The local steel facility is now run by Arcelor Mittal and employs only a fraction of the total staff Lukens had at its height...
...years ago, on January 25, 1759, in Alloway, Scotland. His father was a tenant farmer and his mother never learned to write, but Burns read voraciously and managed to secure a fairly thorough education. His family had very little money - when his father died, he left the family bankrupt - which inspired the egalitarian, anti-authority themes that would appear in Burns' future works...
...just so afraid to say this whole system is bankrupt and the whole thing should just be reorganized?" someone from the audience asked after Gramm finished his lecture. "Why don't you just...
...liquidation firms certainly do. In many deals, they pay the bankrupt company for access to the merchandise, and only profit if they sell enough stuff. These "guarantee" deals carry lots of risk. Take Circuit City. The four liquidation companies, the Great American Group, SB Capital Group, Tiger Capital Group and Hudson Capital Partners, together paid some $800 million for Circuit City's merchandise, which is worth around $1.7 billion at retail. The firms must also pay the company's expenses - payroll, rent and store operating costs - for the duration of the liquidation, which will likely take eight weeks. Here, Circuit...