Word: bankrupting
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...active fraud investigation hasn't kept buyers from snapping up millions of shares of embattled HealthSouth. In Chicago an investment club took a flyer on bankrupt UAL, the parent company of United Airlines, believing that the stock was set to soar. More than 57 million shares of bankrupt WorldCom were traded last Thursday on news that WorldCom had reached a revised settlement with the Securities and Exchange Commission that will give some shareholders stock in the new company when it comes out of bankruptcy. True, but this applies only to people who owned WorldCom before June 25, 2002. When WorldCom...
...pros say figuring out details of who gets what, and when, is difficult. "The information flow can be very sketchy. Management is in turmoil. It's a very imperfect market," says Jonathan Rosenthal, a partner at Saybrook Capital, a Santa Monica, Calif., investment bank that focuses on restructuring bankrupt companies...
...union in Upper Corsica. "It managed to lose a Corsican vote that should have been an easy win, and picked the opening of summer festivals to provoke arts workers." Unions promise renewed national strikes in September. For now, protests continue to disrupt, shut down and perhaps even bankrupt festivals. "This is a terrible waste not just for visitors, but for the troupes who came from around the world and can't perform," laments retired doctor Alexandre Lumbroso, who arrived in Avignon for his 15th straight year to learn the program had been scrapped. "Protesters say they're protecting the arts...
...been lost in Berlin since German reunification in 1990. With the city's unemployment rate at an astounding 18.4%, a dark mood of pessimism and angst has settled over Berlin as it struggles with a weak global economy, huge debts and unaffordable welfare provisions that have left the city bankrupt. Every month for nearly a year the two biggest problems cited by Berliners have been the threat of unemployment and concern about the city's shaky finances, according to the opinion researcher Forsa. Berlin's troubles are a severe disappointment to many from both east and west who hoped...
...invoked a little-observed 19th century British law requiring factory walls to be whitewashed. On the Karachi Stock Exchange, insider trading is commonplace and conflict of interest is rife. Some of the exchange's board members are also leading brokers, and they are able to change regulations overnight to bankrupt an outsider trying to deal in a company's shares. Brokers sometimes vanish with their investors' portfolios, and no investor has ever won a case against a crooked dealer...