Word: bankrupts
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...PBGC is running a $23 billion deficit following a wave of pension defaults by bankrupt steel and aviation firms. The agency is funded primarily via premiums paid by employers, and proposals are floating around Washington to shore up its finances. But with a few more big pension defaults ... can you say "taxpayer bailout...
...Motors these days. Its once dominant U.S. market share is slipping. Steel and labor costs are mounting. Profits are evaporating. But there's an unexpected bright spot in Asia: GM's South Korean unit, GM Daewoo Auto & Technology. In 2002, GM and its partners acquired the choicest assets of bankrupt Daewoo Motor for $440 million?and it looked like they overpaid. Daewoo's market share in Korea was shrinking and its factories were running at half their capacity. Union members tried to thwart the deal by rioting around the main factory near the port city of Inchon...
...Rudman nearly paralyzed the Government. The amendment, a rigid formula for budget cutting that has aroused concern even within the President's Cabinet, is attached to a bill to raise the national-debt ceiling to more than $2 trillion. Congress was faced with the threat of the Government going bankrupt in a matter of days unless the debt limit was increased. Failing once again to reach a compromise on Gramm-Rudman, the legislators granted the Government a one-month extension on its borrowing power. Upshot: by Dec. 12, Congress and the President will find themselves confronted with yet another deadline...
Wheeling-Pittsburgh will continue making steel even though it is bankrupt, and the union has indicated that it will not strike. Said United Steelworkers Negotiator Paul Rusen: "We will go to work, be patient and in 18 months be better off." Citing the company's modern plants, John Jacobson of Chase Econometrics said Wheeling-Pittsburgh, if it comes out of bankruptcy "leaner and meaner," could be in a stronger position than its competitors. TELECOMMUNICATIONS David vs. Goliath, Round...
...DIED. PRINCE RAINER III, 81, Europe's longest-reigning monarch, who, as ruler of Monaco for 56 years, transformed his tiny, nearly bankrupt principality into a tourist-friendly international business center; after a month-long hospitalization for heart, lung, and kidney ailments; in Monaco. With the help of his 1956 fairy-tale marriage to Hollywood royal Grace Kelly, Rainier modernized a community once called a "sunny place for shady people," building affordable hotels to draw middle-class visitors to its famed Monte Carlo casino, and popularizing the mini-state, which has no income tax, as a tax haven for foreign...