# News & Current Events > Economy & Markets >  Corporate Bankruptcies... rolling count of American companies going "BELLY -UP" 2008

## HOLLYWOOD

Okay there's so many Bankruptcies, I'm just posting a link to one site that lists & track all company filings. *NOTE:* When I search for each 30 days/month for the past 9 months,  *more than a 1000 Bankruptcies each month*. So much so, the site request a search for a week or day.

*http://www.bankruptcydata.com/product_files/NewsArchiveSelect.asp*

Bankruptcies: Add to thread for recent counts, sector and business
*
Transports/Air/etc*
Frontier Air
ATA
Aloha
Skybus 
Eos Airlines 
Champion Air (NBA transporter)
MESA Airlines
Jevic Transportation, Inc. (Freight transport)
Sterling Airlines 
Yellowstone Club "Ultra Rich Club"
Eclipse Aviation Corporation


*Financial*
Bear Sterns
Aegis Mortgage Corporation
Lehman Brothers 
Washington Mutual
ANB Financial
IndyMAC
Fannie Mae
Freddie Mac
Delta Financial Corporation 
Freedom Bank of Bradenton, FL
Alpha Bank & Trust, Alpharetta, GA	
Meridian Bank, Eldred, IL
Main Street Bank, Northville, MI	
Washington Mutual Bank, Henderson, NV and Washington Mutual Bank FSB, Park City, UT	
Ameribank, Northfork, WV	
Silver State Bank, Henderson, NV
Integrity Bank, Alpharetta, GA	
The Columbian Bank and Trust, Topeka, KS	
First Priority Bank, Bradenton, FL	
First Heritage Bank, NA, Newport Beach, CA	
First National Bank of Nevada, Reno, NV
IndyMac Bank, Pasadena, CA
First Integrity Bank, NA, Staples, MN	
ANB Financial, NA, Bentonville, AR	
Hume Bank, Hume, MO
Douglass National Bank, Kansas City, MO
Ambac Financial Group Inc.
ACE Mortgage
Franklin Bank,  Houston
Security Pacific Bank of California.
RBC Capital Markets MotherRock LP hedge fund
The Community Bank, Loganville, GA
LandAmerica Financial Group
Haven Trust Bank of Duluth, Ga... sold off to BB&T
Sanderson State Bank of Sanderson, Texas
Barratt American (home builders - financial real estate sector)

*
Manufacturing/Production*
Delphi
Solutia Inc (nylon & plastics)
Tousa Inc (homebuilder)
Adam Aircraft
Wellman, Inc.
Ampex Corporation
Hilex Poly Co., the world's largest plastic bag manufacturer
American LaFrance - maker of firetrucks, ambulances and other emergency vehicles
BHM Technologies, LLC
IdleAire Technologies Corporation
EnCap Golf Holdings, LLC (national golf course builder)
Tarpon Industries, Inc. (steel tubing/racks)
Blue Water Automotive Systems, Inc.
Empire Land, LLC and several related entities (home builders)
Tousa, Inc. and 37 related entities (home builders)
MTI Technology Corporation (IT, networking, backup/archive)
Greater Ohio Ethanol
WorldSpace, Inc - WorldSpace Systems Corporation and AfriSpace, Inc.
Wellman Plastics Recycling Inc.
Motor Coach Industries
Paper International
Ascendia Brands'
Agriprocessors - Kosher ICE raid company
Broyhill Furniture Industries
WR GRACE 
TOUSA, Inc housing
Wellman Inc., plastics maker
Chrysler
Ford
GM- General Motors
Agriprocessors Inc. <=== The kosher meatpacking company in Iowa that criminal charges and huge fines for labor violations
Village Homes of Colorado
Empire Land, LLC
Dalton Corp... steel/milling
Precision Parts International L.L.C. 
Poloroid Corporation
DHP Holdings heating appliances
Constar International Inc. Plastic bottle producer


*Retail/Services*
Circuit City
Linens -n- Things
Baker's Square
Sharper Image
Jocks and Jills
Domain Furniture
Wickes Furniture
Fortunoff
Harvey Electronics
Lillian Vernon
Bombay Furniture
Sirva Inc (moving company)
New Line Cinema, Makers of Lord of the Rings Movies, Lays off 450, (rights absorbed by Time Warner)
Crescent Jewelers - Friedman’s Jewelers Inc. $400 Million liquidation
Steakhouse Partners, Inc. 
Wickes Furniture, (owned by private equity firm Sun Capital Partners)
Fortunoff Furnishings
IdleAire Technologies Corporation (Television Stations)
S&A Restaurant Group, a subsidiary of the Metromedia Restaurant Group (Bennigan's, Steak-n-Ale) Metromedia Steakhouses - Ponderosa and Bonanza restaurants
Value Cities Stores
Mrs. Fields' Famous Brands (Cookies, etc)
Interep National Radio Sales 
North Oakland Medical Center 
WAFFLE HOUSE restaurants
Shoe Pavillion
Mervyn's clothing 
American Home Furniture
BTWW Retail - Ranch wear/Farm wear
Tropicana Entertainment LLC
Las Vegas Sands Corp
Tweeter Electronics
Lamborghini OC (North America's largest Lambo Dealer)
Interstate Bakeries Corporation
National Wholesale Liquidators 
Women's retailer CACHE
Steve and Barry's closes all 174 stores
Auto Dealerships - New/Used/3rd party 100's across the nation
Bally Total Fitness Holding Corp.
Hawaiian Telcom Communications
Trump Entertainment Resorts Will file Chapter 33! (3 round )
EZ Lube, LLC
K B Toys closed 356 stores/now dead
LA Weight Loss Centers 
NetVersant Solutions
Thacher Proffitt & Wood, a 160-year- old New York-based law firm
Sports Chalet
B. Moss Clothing Co. Ltd
Woolworths/Wolco
Flying J nationwide Truckstop/fuel centers

*
Media/Entertainment*
New Line Cinema, Makers of Lord of the Rings Movies, Lays off 450, (rights absorbed by Time Warner)
Ziff Davis Media filed Ch. 11 (they publish eWeek, PC Magazine, etc.)
Tropicana Entertainment, LLC (subsidiary of Tropicana Casinos)
Johnson Broadcasting Inc.
TRIBUNE ENTERTAINMENT  (Chicago % LA Times newspapers, magazine, 23 TV stations, etc)
The Baltimore Opera Co.
Equity Media Holdings Corporation 41 radio stations (Spanish/English)


*
Public/Municipal Bankruptcies*
City of Vallejo, CA
US Postal Service (layoff 40,000)
Isleton, CA
Rosa Linda, CA

Pilgrim’s Pride
Tweeter Opco
Lenox Sales, Inc



*
RUMORED, ON THE BUBBLE, IN TROUBLE, Substancial Loses, Watch Listed*

Foot Locker (closing 150 stores)
Ann Taylor (closing 117 stores)
Zales Jewelers (closing 100 stores)
Charming Shoppes -- Lane Bryant & Fashion Bug (closing 150+ stores)
Wilsons Leather (closing 158 stores)
Pacific Sunwear -- Demo (closing 153 stores)
Construction Metals Inc. - 102 employees cut.
Jacuzzi Whirlpool Bath 100 workers laid off.
AGC Flat Glass North America Inc. 275 positions cut.
Starbucks  aka  $4Bucks closing 100 stores
JC Penney
Lowe's
Office Depot <=== Watch listed due to rumors of hidden debt and substantial drop in earnings
Virgin Airlines (lost $34.8M in Sept 30 quarter)
Claire's Stores
Michael's Stores
Herbst Gaming
Tropicana Entertainment
Station Casinos
Mervyn's clothing (closed 62 stores)
Charming Shoppes, Inc., (operater plus-size women's apparel chains, closing 150 stores, including 100 Fashion Bug and all of the Petite Sophisticate locations)
Home Depot closing 15 stores
Smurfit-Stone Container Corporation


Movie Galley Closing all stores
Pep Boys Closing 33 stores
Macys to close 9 stores after January 1, 2009
Disney closing 98 stores and will close more after January 1, 2009
GAP closing 85 stores
Eddie Bauer to close stores 27 stores and more after January 1, 2009


Restructuring:
Hawaiian Telecom
United Airlines cut 1,100 jobs
MGM Grand 'Mirage'


*link: Retail Survey/Analysis reveals 11.8% of retail business' closed in 2007 compared to 2006!*

*Thanx for the INPUTS/UPDATES, keep them coming!*

link here to FOREIGN Banking Disaster in GERMANY:

*http://www.spiegel.de/international/business/0,1518,536635,00.html*

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## DrCap

we can add to the list:
The company that owns Baker's Square - they've already shuttered a number of stores in Illinois after filing.
The Sharper Image - they too have already closed in my area.

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## Fox McCloud

Circuit City wouldn't surprise me; I've always felt they weren't the best company around for purchasing electronics.

AMD is on shaky ground right now....their CTO (Chief Technology Officer) stepped down...and no replacement is going in (yet)....they're also $5 billion in debt.

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## HOLLYWOOD

> Circuit City wouldn't surprise me; I've always felt they weren't the best company around for purchasing electronics.
> 
> AMD is on shaky ground right now....their CTO (Chief Technology Officer) stepped down...and no replacement is going in (yet)....they're also $5 billion in debt.


AMD is a very poorly run company... if you conducted a visit / walk-through in their buildings, say compared to Intel, AMD has the appearance of a 3rd world nation.

Looking at their corporate earnings numbers, I don't know how they are sustaining losing so much for so long.


But here's the startling latest facts:

*U.S. consumer bankruptcy filings jumped 27% nationwide in the first quarter of 2008* compared to the year-ago period, according to the American Bankruptcy Institute (ABI). *March consumer filings alone reached 86,165 - up 13% from February. 

*

http://blog.aefeldman.com/2008/04/10...eys-in-demand/

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## kyleAF

TERI, too, which has hurt First Marblehead quite a bit and limited the student loan market.

There will be MANY more to come.

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## ricket

Jocks and Jills (a restaurant chain in Atlanta)

http://www.georgiabankruptcyblog.com...ankruptcy.html

Ive also seen massie clearance/liquidation sales at Wilson's Leather and Friedman's Jewelers...

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## buffalokid777

Bed Bath and Beyond is about to go down in retail.....

But the real ones to watch are in the Financial sector........

UBS, Lehman Bros, JP Morgan.....all on the bubble.....as felll as Fannie Mae, Freddie Mac.....Policy is keeping them all afloat........sound money is the only thing that will keep them from going under.......

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## bale002

> *
> RUMORED*
> 
> *Countrywide Financial*
> Washington Mutual (S&L)
> Circuit City
> 
> ***


   Wasn't Countrywide bought out by BoA?  Technically, Bear Stearns did not go bankrupt, it was bailed out by the Fed and bought out by JPMorgan, so in the same sense Countrywide can also be considered a bankruptcy.

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## Sarge

Whoa!  Be careful what you post. I think you got the wrong company.

Bed Bath and Beyond is not going down in retail. They have no debt and a billion or more in cash.
While they may experience a slow down in sales, they will be the survivor.

Linens and Things is likely to declare bankruptcy Tuesday if they can't work anything out.

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## kyleAF

> Jocks and Jills (a restaurant chain in Atlanta)
> 
> http://www.georgiabankruptcyblog.com...ankruptcy.html
> 
> Ive also seen massie clearance/liquidation sales at Wilson's Leather and Friedman's Jewelers...


Jocks and Jills!!  Oh, no  .  I liked that place...

Friedman's is going bust: true.

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## buffalokid777

> Whoa!  Be careful what you post. I think you got the wrong company.
> 
> Bed Bath and Beyond is not going down in retail. They have no debt and a billion or more in cash.
> While they may experience a slow down in sales, they will be the survivor.
> 
> Linens and Things is likely to declare bankruptcy Tuesday if they can't work anything out.


You are correct........My bad.....I meant linens and things (I think I subconciously put bed bath and beyond because of the slowdown in sales article I had read).......and the financial places are rumors that I think hold some weight that they could go under in the next 1-2 years.......

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## LT for the Truth

Every Rite-Aid in Vegas has closed its doors

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## danberkeley

Delta and Northwestern are merging.

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## AceNZ

Filed for bankruptcy:
Levitz
Domain Furniture
Wickes Furniture
Fortunoff
Harvey Electronics
Lillian Vernon
Bombay Furniture


Downsizing heavily:
Foot Locker (closing 140 stores)
Ann Taylor (closing 117 stores)
Zales Jewelers (closing 100 stores)
Charming Shoppes -- Lane Bryant & Fashion Bug (closing 150+ stores)
Wilsons Leather (closing 158 stores)
Pacific Sunwear -- Demo (closing 153 stores)

Possibly in trouble:
JC Penney
Lowe's
Office Depot

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## ricket

Oh, I got another one. Movie Gallery (owns Hollywood Video, etc)

http://www.forbes.com/2007/10/16/mov...markets39.html

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## HOLLYWOOD

> Filed for bankruptcy:
> Levitz
> Domain Furniture
> Wickes Furniture
> Fortunoff
> Harvey Electronics
> Lillian Vernon
> Bombay Furniture
> 
> ...


*
WOW!*

I presume all well "played-down" by governments...  the MSM has been advised not to create HYSTERIA  the collapse happening within the business sector.

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## scooter

> Possibly in trouble:
> JC Penney
> Lowe's
> Office Depot


Those three companies aren't going anywhere.

Also, Delphi probably shouldn't be on the original list.  They went bankrupt several years ago and the credit problems have only just delayed their ability to come out of it.  Their financial standing has actually improved quite drastically in the last year or so.

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## Cali4RonPaul

Add Mervyns Dept store to the list,  

In my area they cut 200 jobs, and are outsourcing their inhouse shipping dept to a 3rd party.

Reason they said was due to declining sales.

http://www.sbsun.com/business/ci_8896847

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## adam1mc

This would be a great subject for an entire website.  Companies that go bankrupt in 2008.  Could have it all divided into sections and maybe links to stories of the bankruptcies.

Anyone got any suggestions for a domain name?


Oh yeah.. CompUSA but they were on the tail end of 2007 so I'm not sure if they'd count.

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## AceNZ

Solutia Inc (nylon & plastics)
Tousa Inc (homebuilder)
Sirva Inc (moving company)

Restructuring:
Hawaiian Telecom

In trouble:
Virgin Airlines (lost $34.8M in Sept 30 quarter)
Claire's Stores
Michael's Stores
Herbst Gaming
Tropicana Entertainment
Station Casinos

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## Cali4RonPaul

http://money.cnn.com/2008/04/15/news...ion=2008041513

New Line Cinema, Makers of Lord of the Rings Movies, Lays off 450,

The  company will be absorbed into Time warner.

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## Crowish

Ziff Davis Media filed Ch. 11  (they publish eWeek, PC Magazine, etc.)

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## HOLLYWOOD

Updated list from member inputs and financial news...

Please continue to post your information

Thanx!

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## Cali4RonPaul

Create a separate category for Entertainment & Media.


That way you can put New Line Cinema and PC Mag in that category.

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## Cowlesy

Wellman, Inc.

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## RSLudlum

what about public/municipal bankruptcies???

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## RSLudlum

*Ampex Corp*., a 60+ year,  audio recording pioneer and data-storage system maker  filed for Chapter 11 bankruptcy protection Sunday as its pension liabilities outpaced earnings, the company said in a statement.

http://www.businessweek.com/ap/finan.../D8VOEN680.htm

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## kyleAF

My prediction: Ford and GM soon enough (couple of years)...partially for the same reason ^^^^

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## Cali4RonPaul

Construction Metals Inc. - 102 employees cut.

Jacuzzi Whirlpool Bath 100 workers laid off.

AGC Flat Glass North America Inc. 275 positions cut.

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## buffalokid777

> My prediction: Ford and GM soon enough (couple of years)...partially for the same reason ^^^^


The problem with GM and Ford.....is they figured out in the 80's that if you build cars engineered to fall apart in 5 years.....most people who wanted to "Buy American" would tend to replace their cars with a new one right about when the loan for the previous one was paid off......thus inctreasing profits.....

The problem is the Japanese automakers build dependable cars....not engineered to fall apart after 5 years....I would LOVE to buy American......but until American automakers start producing automobiles that AREN'T designed to fall apart after 5 years.....I'll stick with my Toyota Corrola....Mine is 8 years old....NO REPAIRS.....ONLY OIL CHANGES......Never had a GM or Ford car I've owned go even close, before a repair was needed on my American Car counterpart (Cavalier)....Engineered Obsolence, is a poor choice for American manufacturers, It only KILLS consumer confidence in their product......

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## Deborah K

1929 anyone??

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## angelatc

> T
> The problem is the Japanese automakers build dependable cars....not engineered to fall apart after 5 years....I would LOVE to buy American......but until American automakers start producing automobiles that AREN'T designed to fall apart after 5 years.....I'll stick with my Toyota Corrola....Mine is 8 years old....NO REPAIRS.....ONLY OIL CHANGES......Never had a GM or Ford car I've owned go even close, before a repair was needed on my American Car counterpart (Cavalier)....Engineered Obsolence, is a poor choice for American manufacturers, It only KILLS consumer confidence in their product......


My experience is just the opposite. You're exactly right about the planned obsolesence, and the Japanese manufacturers caused them to rethink that.  The second car I ever had was a Nissan, and it was nothing but a PITA the whole time I had it.  I have a '93 and a '94, both Fords, both with more than 120k miles on them now and I would buy another Ford  and nothing but another Ford, tomorrow.

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## buffalokid777

> My experience is just the opposite. You're exactly right about the planned obsolesence, and the Japanese manufacturers caused them to rethink that.  The second car I ever had was a Nissan, and it was nothing but a PITA the whole time I had it.  I have a '93 and a '94, both Fords, both with more than 120k miles on them now and I would buy another Ford  and nothing but another Ford, tomorrow.


I also have  ford tempo....1992, with only 80,000 miles......it was put in my garage several years ago......at 80,000 miles it has already amassed numerous repairs.......That's when I got a toyota........I chose to GIVE IT AWAY to a friend who needed a car......so far he has NOT been able to put it on the road due to the complete junk it is.....

FORD= Found On Road Dead.....I have yet to see evidence that suggests otherwise from people I know who actually were stupid enough to buy one recently........I sure hope American automakers realize the mistake they have commited....but until American cars outlast Japanees cars from the same year.....it's not gonna happen....

This country was built on freedom and a superior product for a lower price.....until manufacturers do away with planned obsolesence, there will be NO consumer confidence in their product........and if Ford and Chevy have done away with planned obsolesence, I have yet to see the evidence.......

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## buffalokid777

> The second car I ever had was a Nissan, and it was nothing but a PITA the whole time I had it.


I will agree with you that Nissan adopted the Americn model.......NOT 1 Nissan owner I know has not had problems (ESPECIALLY on Pathfinders but also some Maxima's).....But NOT so with Toyota and Hondas.....as well as Subarus.....and their respective High End counterparts (ie....Lexus)......

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## HOLLYWOOD

Updated the growing list of our business victums of the U.S. Government's RECESSION!

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## Cali4RonPaul

http://money.cnn.com/2008/04/22/news...ion=2008042208

United Airlines will cut 1,100 jobs!!!

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## Michigan11

> I also have  ford tempo....1992, with only 80,000 miles......it was put in my garage several years ago......at 80,000 miles it has already amassed numerous repairs.......That's when I got a toyota........I chose to GIVE IT AWAY to a friend who needed a car......so far he has NOT been able to put it on the road due to the complete junk it is.....
> 
> FORD= Found On Road Dead.....I have yet to see evidence that suggests otherwise from people I know who actually were stupid enough to buy one recently........I sure hope American automakers realize the mistake they have commited....but until American cars outlast Japanees cars from the same year.....it's not gonna happen....
> 
> This country was built on freedom and a superior product for a lower price.....until manufacturers do away with planned obsolesence, there will be NO consumer confidence in their product........and if Ford and Chevy have done away with planned obsolesence, I have yet to see the evidence.......



I'm in my early 30's, and have bought new always, so I have never owned an American car/truck from the 80's when these companies got their bad reputation from. I had an uncle who had major problems with a GM car at the time and ever since he has bought Honda's and hasn't really had any problems, yet he turns them in at 60,000 or less miles, so why would he?

My first truck, a car really, Ford Ranger 96', drove it 150,000, no problems and then sold it, nothing ever went wrong with it. 2nd truck, Ford F-150 00' drove it to 240,000 miles, no problems...nothing ever went wrong with it. 3rd truck F-250 03', drove it 170,000 miles...again not a thing ever went wrong with it. F-150 06' 50,000 miles still nothing wrong with it. I've always got the trans flush every 30,000 and full synthetic oil changes/filters every 5,000-7,000. Never any problems.


Conclusion: From my experience and my friends/family that drive American cars/trucks, I know of no problems with their vehicles. My brother has bought two taurus's from Ford and drove them to 175,000 miles each, with no problems or repairs. Nothing.

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## DrCap

> FORD= Found On Road Dead............


I always thought it was
FORD stood for 'Fix Or Repair Daily'

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## RSLudlum

> I always thought it was
> FORD stood for 'Fix Or Repair Daily'




Driver Returns On Foot!!!

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## DrCap

> Driver Returns On Foot!!!


lol

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## buffalokid777

> I'm in my early 30's, and have bought new always, so I have never owned an American car/truck from the 80's when these companies got their bad reputation from. I had an uncle who had major problems with a GM car at the time and ever since he has bought Honda's and hasn't really had any problems, yet he turns them in at 60,000 or less miles, so why would he?
> 
> My first truck, a car really, Ford Ranger 96', drove it 150,000, no problems and then sold it, nothing ever went wrong with it. 2nd truck, Ford F-150 00' drove it to 240,000 miles, no problems...nothing ever went wrong with it. 3rd truck F-250 03', drove it 170,000 miles...again not a thing ever went wrong with it. F-150 06' 50,000 miles still nothing wrong with it. I've always got the trans flush every 30,000 and full synthetic oil changes/filters every 5,000-7,000. Never any problems.
> 
> 
> Conclusion: From my experience and my friends/family that drive American cars/trucks, I know of no problems with their vehicles. My brother has bought two taurus's from Ford and drove them to 175,000 miles each, with no problems or repairs. Nothing.


I would say you are the exception rather than the rule.......

I have had several friends own fords from the 90's all with terrible results......

One of my good friends owned a 1993 Bronco.....It was DEAD at 2001 under 100K miles and repairs totaling $5,000+ to keep it running until he declared enough.....

Until someone I ACTUALLY KNOW can have an experience like you.....I will stick with my Toyotas......They are simply the BEST value in my opinion.....

For those of you who don't believe me......compare the people you know who own one, against the others, who own American cars, that you know.....don't trust me......trust the people you ACTUALLY know and can verify their claims......make an informed decision  based upon what you learn.....rather than doing what others who told you in this forum what to do as in "following the crowd"......Knowledge is power.......

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## rawraw04

of automobiles one must comsider how the vehicle is driven.  For example, if I drive with my foot in the pedal the entire time it will cause excessive wear.  If someone else drives their vehicle with a lighter foot then chances are their vehicle will last longer and require less matience, excluding the ocasional lemons.

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## rawraw04

of automobiles one must comsider how the vehicle is driven.  For example, if I drive with my foot in the pedal the entire time it will cause excessive wear.  If someone else drives their vehicle with a lighter foot then chances are their vehicle will last longer and require less matience, excluding the ocasional lemons.

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## AceNZ

New York-based business class-only *Eos Airlines* says it has filed for bankruptcy and will cease operations by Monday.

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## HOLLYWOOD

Updated list... BTW, CNN is now covering the "Concern of Retailers and businesses Closings/Bankruptcies....

FYI:  IF YOU HAVE A GIFT CARD from a financially strapped company/retailer....  USE IT ASAP!


Foot Locker closing 150 stores
Zales closing 100 stores
Starbucks  aka  $4Bucks closing 100 stores

EOS added

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## Cali4RonPaul

> http://money.cnn.com/2008/04/22/news...ion=2008042208
> 
> United Airlines will cut 1,100 jobs!!!


add this one to trouble.

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## HOLLYWOOD

Updated list...

Crescent Jewelers

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## Danke

Champion Air, a carrier based in Bloomington, Minnesota, will cease flying May 31 because of high jet-fuel costs for its Boeing 727s and the loss of charter contracts for 13 National Basketball Association teams to its former owner, Northwest Airlines Corp. There will be no bankruptcy filing, said Jon Austin, a spokesman for the carrier.

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## Fox McCloud

> Until someone I ACTUALLY KNOW can have an experience like you.....I will stick with my Toyotas......They are simply the BEST value in my opinion.....


I'll second this; Toyotas are a really good car (though they're not my favorite); I've known more than one go break 200,000, and I've seen some that are approaching (or have broke) 300,000.

It's not like American car companies aren't capable of producing a good car....take the Ford Crown Victoria, for example....yeah, they're big and perceived as being an "old folk's car" (I don't think so, personally), but they're incredibly reliable; it's not all that uncommon to see ones that break 300,000...I've also heard of a few that have made it to 500,000 with little-to-no problems.


I don't _totally_ blame the car companies for this problem, the market just tends to demand a car that only lasts a couple of years--many are sucked into the debt-a-car cycle (you never fully own your car; you always owe on it) and get rid of their car well before it breaks even 100,000 miles. That said, it does aggravate me that most American cars, in general, these days, only last around 100,000 miles.

I still hold Volvo (before they were owned by Ford) and Mercedes-Benz the king of quality in the automotive world; there's numerous reports of gasoline engines easily breaking 500,000 without an issue, and a few breaking 1,000,000 miles (and this is a _gas_ engine)...and their diesels? Well, the record is over 2.4 million miles on a Mercedes-Benz 240D 

I'd rate Toyota/Lexus just under these two though, so they are by no means junky or bad cars.

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## LT for the Truth

Don't know if this has been added, Tropicana Casinos & Hotels Files for Chapter 11 Protection

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## kyleAF

Not a company, but Vallejo California just decided to declare it today

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## DrCap

> Not a company, but Vallejo California just decided to declare it today


Yes, I heard that too, and was thinking they can make the list also, guess we need to add municipalities etc to the list of possible dafaults.

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## torchbearer

> *Ampex Corp*., a 60+ year,  audio recording pioneer and data-storage system maker  filed for Chapter 11 bankruptcy protection Sunday as its pension liabilities outpaced earnings, the company said in a statement.
> 
> http://www.businessweek.com/ap/finan.../D8VOEN680.htm


That is $#@!ed up.
Pensions shut down a great reel manufacturer - out of business. No more pensions. No more reels. 
Damn people aren't dying fast enough or are retiring way too damn early.
This is retarded.

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## angelatc

I guess this is manufacturing?




> Hilex Poly files Chapter 11
> 
> By Joshua Palmer
> 
> Hilex Poly Co., the world's largest plastic bag manufacturer with a production facility in Jerome, announced Thursday that it filed for Chapter 11 bankruptcy in order to restructure its debt.
> 
> Officials with the Hartsville, S.C.-based company said the bankruptcy filing was part of an agreement with its lenders to reduce outstanding debt and reduce annual interest rates.

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## HOLLYWOOD

> Not a company, but Vallejo California just decided to declare it today


I just heard from some colleagues... the state of California has NOT adjusted the property values DOWN in accordance with valuation for property taxes assesments.

Now that's outright thievery!  I guess people in regions across the country need to assess, communicate, and/or file lawsuits for the OVER  INFLATED PROPERTY TAX FRAUD state governments are scamming  on the people. Some American housing regions have the DEVALUATION of HOMES over 60%!

GOVERNMENT THIEVES, Again!

PS: updated the bankruptcy list

try to have a wonderful TGIF!

PSS: Crude OIL  $126 - up almost 10% for the WEEK!

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## Crowish

Home Depot is closing 15 stores.

MGM (Mirage) is in big trouble.

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## RSLudlum

I've signs around town about Friedman's Jeweler's stores having liquidation sales.  Just found this article:





> *Friedmans Inc. to Hold Bankruptcy Liquidation Sale* 
> _Leading Specialty Jewelry Chain to Liquidate $400 Million of Inventory in 377 Stores_ 
> 
> ADDISON, Texas--(BUSINESS WIRE)--Friedmans Inc., which operated 455 retail jewelry stores under the Friedmans and Crescent brands, will conduct a court-ordered bankruptcy liquidation sale beginning April 5, 2008. The sale was ordered by the bankruptcy court as a result of Friedmans Chapter 11 filing earlier this year. 
> 
> Inventory valued at approximately $400 million will be liquidated at below market prices in a sale that is expected to last approximately 10-12 weeks. Merchandise to be sold will include womens and mens fine and fashion jewelry, featuring diamonds, other precious stones, gold and silver, as well as a wide selection of watches. The liquidation sale will involve 377 Friedmans and Crescent store locations in 23 southeastern, southwestern and mid-western states (see store list attached). Friedmans is currently in negotiations with an interested third party to sell its 78 remaining locations. 
> 
> The Friedmans sale is being managed by a consulting group consisting of three leading national retail liquidation and asset recovery firms: Great American Group, LLC; Hudson Capital Partners, LLC; and Silverman Jeweler Consultants, Inc. 
> 
> ...

----------


## DaveH

> That is $#@!ed up.
> Pensions shut down a great reel manufacturer - out of business. No more pensions. No more reels. 
> Damn people aren't dying fast enough or are retiring way too damn early.
> This is retarded.


Big companies going out of business creates great opportunities for small individual manufactures and producers.  
We'd actually be better off in the long run if every corporation listed on the NYSE went belly up.
Someone can always do the same thing in their garage or basement.
People working their whole lives for a company then having their pensions denied borders on criminal.
Maybe you were trying to be funny but it won't be by the time you grow up and near retirement age.

----------


## RSLudlum

> Big companies going out of business creates great opportunities for small individual manufactures and producers.  
> We'd actually be better off in the long run if every corporation listed on the NYSE went belly up.



...and therefore building a larger local/domestic manufacturing base from the ground up!  Yes, it's gonna take a while, but IMO that's what we need. It can happen if the gov't gets out the way with so many regulations.

----------


## Ozwest

> ...and therefore building a larger local/domestic manufacturing base from the ground up!  Yes, it's gonna take a while, but IMO that's what we need. It can happen if the gov't gets out the way with so many regulations.


Concentrate on quality. Get Pennsylvania and Michigan geared up!

Precision made tools, machinery, equipment, made for the serious tradesman and manufacturers. American steel manufactured and designed by the best engineers, and  machineists in the world.

No plastic, no light gauge fluff.  

Made in the U.S.A. !

----------


## Recession

MESA Airlines announced on MSNBC

----------


## angelatc

American LaFrance - maker of firetrucks, ambulances and other emergency vehicles

----------


## HOLLYWOOD

> American LaFrance - maker of firetrucks, ambulances and other emergency vehicles


Updated list and added the following companies:

Jevic Transportation, Inc.   5/20/2008

BHM Technologies, LLC   5/19/2008

Steakhouse Partners, Inc. (2008)   5/15/2008

IdleAire Technologies Corporation   5/12/2008

Pappas Telecasting Incorporated   5/10/2008

EnCap Golf Holdings, LLC   5/8/2008

Hilex Poly Co. LLC   5/6/2008

Tropicana Entertainment, LLC   5/5/2008

Tarpon Industries, Inc.   4/29/2008

----------


## RSLudlum

The last thing we need is more Manufacturers going under!

----------


## RCA

For the "in trouble" section, don't forget Smurfit-Stone Container Corporation.

3.48 billion in debt and only 10 million in cash, ouch!

Can this thread be made a sticky please?

----------


## RCA

Also:

http://www.bloomberg.com/apps/news?p...VIg&refer=home

http://www.sentinel-standard.com/art...ews/02news.txt

http://www.freep.com/apps/pbcs.dll/a...SS01/805240360

http://origin.montereyherald.com/local/ci_9322410

http://www.bizjournals.com/triad/sto...2/daily53.html

http://www.forbes.com/feeds/ap/2008/...ap5010789.html

http://www.bizjournals.com/southflor...5/daily31.html

http://www.bizjournals.com/sacrament...1/daily49.html

http://www.bizjournals.com/sanfranci...8/story16.html

http://www.bizjournals.com/southflor...5/daily16.html

http://www.bizjournals.com/atlanta/s...28/daily8.html

http://www.bizjournals.com/southflor...1/daily45.html

http://www.bizjournals.com/dallas/st...9/daily38.html

http://www.altoonamirror.com/page/co...0.html?nav=742

http://www.visaliatimesdelta.com/app...WS01/805120314

http://www.blackenterprise.com/yb/yb...lackenterprise

http://www.myrtlebeachonline.com/bus...ry/449583.html

http://www.bucyrustelegraphforum.com...805240301/1002

http://blog.cleveland.com/business/2...stems_clo.html

http://www.idahopress.com/news/?id=10396

http://www.azstarnet.com/business/238334

http://kgmb9.com/main/content/view/6732/40/

http://timesunion.com/AspStories/sto...sdate=5/2/2008

----------


## RCA

A good resource site:

http://bankrupt.com/periodicals/tcr/tcr.html

----------


## bucfish

I say Wachovia needs to be added to the bubble list.  They do not look good.

----------


## pinkmandy

...

----------


## wirenut

Won't be much longer Lehman's brothers will be on that list.

----------


## slacker921

Steve & Barry's 




> NEW YORK (AP) — Steve & Barry's LLC, once a growing force in low-priced fashion retailing, said Wednesday that it filed for Chapter 11 bankruptcy protection, the latest merchant to succumb to a harsh consumer spending climate.
> 
> It also announced that it was considering a plan to sell all or some of its assets to repay outstanding debt, and was eliminating 172 corporate and field staff positions immediately. Wendi Kopsick, a spokeswoman for the company, said no decision had been made about possible store closures.
> 
> The Port Washington, N.Y.-based chain operates 276 locations in 39 states and made a big splash with merchandising endorsements with actress Sarah Jessica Parker, NBA star Stephon Marbury and other celebrities.
> 
> The privately-held parent company and 63 of its affiliates filed for protection from its creditors in the U.S. bankruptcy court for the Southern District of New York. ....

----------


## HOLLYWOOD

> Steve & Barry's



*The Largest Bankruptcies OF ALL TIME, happen during the BUSH administrations:* 1980 - Present GUESS WHO PICKUPS THE 'DIME'?

Why does there always seem to be a *BUSH* in the Executive Branch when the largest failures occur? Stats in BOLD are Duyba 'JUNIOR' BUSH's disastrous administrations

Gesus... did George Bush declare WAR on Corporations and put them all on the TERRORIST LIST?

Company ************** Bankruptcy Date ******* Total Assets ********Filing Court District
*Freddie Mac -----------------------  07/12/2008 --------- $2,500,000,000,000
Fannie Mae -----------------------  07/12/2008  --------- $2,500,000,000,000* 
*Worldcom, Inc.-----------------  07/21/2002 --------- $103,914,000,000 	NY-S*
*Enron Corp.* 	------------------- 12/2/2001 --------- $63,392,000,000 	NY-S*
*Conseco, Inc. ------------------- 12/18/2002 --------- $61,392,000,000 	IL-N*
Texaco, Inc. --------------------------- 4/12/1987 ----------- $35,892,000,000 	NY-S
Financial Corp. of America ------------9/9/1988 ----------- $33,864,000,000 	CA-C
*Refco Inc. ----------------------- 10/17/2005 --------- $33,333,172,000 	NY-S
IndyMAC  ------------------------- 7/10/2008 ---------- $32,100,000,000 	CA-C
Global Crossing Ltd. ------------ 1/28/2002 --------- $30,185,000,000 	NY-S
Pacific Gas  Electric Co. ---------- 4/6/2001 --------- $29,770,000,000 	CA-N
UAL Corp. ------------------------- 12/9/2002 --------- $25,197,000,000 	IL-N
Delta Air Lines, Inc. ------------- 9/14/2005 --------- $21,801,000,000 	NY-S
Adelphia Communications------ 6/25/2002 --------- $21,499,000,000 	NY-S*
MCorp  ------------------------------- 3/31/1989 ------------- $20,228,000,000 	TX-S
*Mirant Corporation -------------- 7/14/2003 --------- $19,415,000,000 	TX-N
Delphi Corporation -------------- 10/8/2005 --------- $16,593,000,000 	NY-S*

*Bear Stearns*  Bailout----- > The *total cost of the bailout won’t be known until July 16, 2008* when the total losses for both funds are calculated. Tallying the losses is taking longer than expected because the securities held by the funds are thinly traded and the market has been volatile, according to published reports.

----------


## RideTheDirt

> Anyone got any suggestions for a domain name?


AmericaForSale.$#@!

Anyway, I need more info on circuit city. Anybody who knows a good deal about this please post.

----------


## angelatc

Mrs Fields Cookies is going to file Chapter 11. http://multichannelmerchant.com/news...enter-chapter/

----------


## wirenut

http://money.cnn.com/2008/07/29/news...bankruptcy.ap/

----------


## heavenlyboy34

Rumors last year were that Bank of America is bankrupt.  If you can verify that, PLEASE post!

----------


## Crowish

Archway Cookies, bankrupt.

The country of Iceland.

Linens & Things.

Mervyn's.

Sun Country Airlines.

Bill Heard Chevy - largest Chevy dealerships in USA.

Hawaii Medical Center hospitals.

Movie Gallery video stores.

Hilo Hattie stores.

Goody's clothing stores.

Steve & Barry clothing stores.

Ascendia Co. (makes Mr Bubble).

I don't have the energy to type all the financial co's haha.

Rumor is that Circuit City is going to file.

Who knows what GM is going to do.

----------


## torchbearer

Dillards is going down.

----------


## tmosley

> Dillards is going down.


Source on that?  Google turned up that they were closing more stores than expected back in March, but that's all I saw.

----------


## torchbearer

> Source on that?  Google turned up that they were closing more stores than expected back in March, but that's all I saw.


comes from a friend that works at dillards.
they are still scaling back their stores... scaling back their distribution.. and if christmas sucks, they may not recover.
no internet source. primary source local.

----------


## Crowish

Who wants to bet the retail holiday season is going to suck?

----------


## HOLLYWOOD

> Who wants to bet the retail holiday season is going to suck?


Hah!

I can't even keep up with business failures!  One VERY IMPORTANT NOTE;

Many states are controlling the "ECONOMIC NEWS" by *censoring/NOT REPORTING  small business failures,* on top of just about EVERY Government, State, County and Municipality is in the *RED on budgets.*

There's so many businesses failing... no one but the TAX boards know the truth of the dilemma about to confront us all.

BTW,

Just about *EVERYONE's Property TAXES should be MUCH less*... have you received a true appraisal of their property value?  Challenge the county/state assessors on their numbers!

----------


## torchbearer

We've lost a lot of gas stations over the summer.
A lot of small local shops are now closed.
Only things still around are corporate stores.

----------


## Crowish

Greater Ohio Ethanol
Johnson Broadcasting Inc., (Channel 51 in Houston)

----------


## Crowish

Metromedia Steakhouses-- Ponderosa and Bonanza restaurants

----------


## HOLLYWOOD

> We've lost a lot of gas stations over the summer.
> A lot of small local shops are now closed.
> Only things still around are corporate stores.


Isn't that the whole Idea of it all?  Just like the; Miners, Loggers, & Families/etc... imprisoned to the "Corporate Company store, Company housing, etc" and that's your only choice.

These SCUMBAGS in Corporations and Government give you the impression of a Choice and you must choose a side BS. People keep forgetting, YEAH I choose a side... MY SIDE!

----------


## Brutus35

How does everyone think grocery chains will fair?  I see them holding up well in the short term due to more people eating @ home, but if this is a deep recession, they won't be able to sustain all of their workforce.  Good thing someone came up with those automated checkouts.......

----------


## Cali4RonPaul

Some of the Grocery stores here in California are closing down like Albertsons.. But they are being replaced with Mexican grocery stores specializing in Mexican imported products.. Nothing wrong with that I guess, times they are a changing.

----------


## tmosley

Mexican sodas are much better than American ones.  They are made with cane sugar rather than HFCS.  They taste much better, too!

----------


## AmericasLastHope

S&A Restaurant Group, a subsidiary of the Metromedia Restaurant Group, owned by billionaire John Kluge, filed for Chapter 7 liquidation bankruptcy, and closed over 300 company-owned Bennigan's and Steak and Ale restaurants.

"Employees of Bennigans who received paychecks after the bankruptcy subsequently had their payroll checks "bounce" due to Metromedia having non sufficient funds."

http://en.wikipedia.org/wiki/Metrome...staurant_Group

----------


## Ozwest

No easy way out. Why don't you use magnum force on the greedy primadonna's who steal your hard-earned?

----------


## Ozwest

Scared $#@!less.

Aren't you?

----------


## Ozwest

Eight years of the CIA and George Bush has turned you into scared rabbits.

Mission accomplished.

----------


## Ozwest

Thomas who? Thomas Paine? Thomas Jefferson?

Malingerers...

----------


## Ozwest

Good night America...

----------


## Sarge

Value Cities Stores filed for bankruptcy Sunday.

----------


## HOLLYWOOD

NOTE:

There's so many Bankruptcies... I just posted a link on the first page post. Just an FYI, when searching over each month, over a 1000 bankruptcies returns and verboses to narrow my search days.

That's how bad it is... SAD

----------


## tuckessee

> Some of the Grocery stores here in California are closing down like Albertsons.. But they are being replaced with Mexican grocery stores specializing in Mexican imported products.. Nothing wrong with that I guess, times they are a changing.


Yep, out with the old, in with the new. 

Anglo-America is a thing of the past. It will just take a little time for the last vestiges to fade passively away into oblivion.

----------


## tmosley

> Yep, out with the old, in with the new. 
> 
> Anglo-America is a thing of the past. It will just take a little time for the last vestiges to fade passively away into oblivion.


Not really.  When things here get bad enough, they'll go home.

A lot of us might end up going with them.

----------


## tuckessee

> Not really.  When things here get bad enough, they'll go home.
> 
> A lot of us might end up going with them.


In their minds this is their home. Besides, things will be worse in Mexico. They're here to stay. It's the Europeans who will either leave or die.

----------


## Cali4RonPaul

How did Office Depot make the list??

They are posting 3.73 billion in revenue?  That downs from 8 Billion plus+ but still thats quite a lot?

Or is there some other news associated with them?

----------


## Sarge

Sterling Airlines filing for bankruptcy today. Levitt furniture closing all stores in bankruptcy.

North Oakland Medical Center closing doors in Detroit.

Also, it looks like 40K postal workers will be let go.

http://www.ksla.com/Global/story.asp?S=9247633

----------


## HOLLYWOOD

> How did Office Depot make the list??
> 
> They are posting 3.73 billion in revenue?  That downs from 8 Billion plus+ but still thats quite a lot?
> 
> Or is there some other news associated with them?


They are on the troubled list... like many retailers, there are rumors their numbers don't add up... aka  hidden debt. I wish I had the link, but I bought both a new home based computer system and laptop.

Will keep them on the watch list a little longer...


Remember the SCAM between K-MART and SEARS?   K-MART declared bankruptcy,  received zero precent loans wrote off the debt, and then sold themselves to SEARS.Then, turned record profits on the BILLIONS, the next year. What a premeditated way to writeoff debt, use of government AID and LOOPHOLES for corporations.

What hasn't been brought up that this was INTENTIONAL... the 2 corporations conspired together on the deal... yet NO INVESTIGATION due to political and lobbying powers of both Corporations.

I think we already know the INNER WORKINGS of Government and CORPORATIONS. 

FRIGIN downright TRAVESTY on Law, the CONSTITUTION, & the American People.

----------


## Cali4RonPaul

> Also, it looks like 40K postal workers will be let go.
> 
> http://www.ksla.com/Global/story.asp?S=9247633



Ouch  that is bad news, you would think USPS would be a secure job because it was government.

----------


## Sarge

Wow, 146 Waffle House locations in bankruptcy.

http://www.gainesville.com/article/2...hisee_bankrupt

----------


## HOLLYWOOD

> Wow, 146 Waffle House locations in bankruptcy.
> 
> http://www.gainesville.com/article/2...hisee_bankrupt




WE jokingly call it AWFUL HOUSE!  Damn, that's a NASCAR fans favorite restaurant!

BUMMER.

----------


## jclay2

I think The Hartford could be your next target. Their stock just halved today. Funny enough, I went to a career fair where The Heartford was at. I asked the guy at the booth there if Heartford had any AIG connections. The guy just laughed and said that they were well capitalized. Well, so were Fannie and Freddie and look what happened to them. Lets just say, I didn't trust him from his complete bull answer. Now look who is laughing.

The Heartford stock Having: http://money.cnn.com/2008/10/30/news...ion=2008103019

----------


## DrCap

Nice to see this thread back... I was wondering about it the other day.
Sticky Sticky?

----------


## HOLLYWOOD

> I think The Hartford could be your next target. Their stock just halved today. Funny enough, I went to a career fair where The Heartford was at. I asked the guy at the booth there if Heartford had any AIG connections. The guy just laughed and said that they were well capitalized. Well, so were Fannie and Freddie and look what happened to them. Lets just say, I didn't trust him from his complete bull answer. Now look who is laughing.
> 
> The Heartford stock Having: http://money.cnn.com/2008/10/30/news...ion=2008103019


Insurance and Financial Corporations ARE the biggest Theives of ALL!

I have previously posted about banks, *like Bank of America, hiding BILLIONS in Debt, which was discovered, when NationsBank* bought them out and assumed their name... WELL, here's another, HOT off the PRESSES!

Let me just say... with *banks and insurance companies*, DEBT listed, is JUST THE TIP OF THE ICE BERG!

*http://www.thestreet.com/story/10445208/1/prudentials-accounting-hides-500-million-in-losses.html?puc=_cnnmoney&cm_ven=CNNMONEY&cm_cat=F  ree&cm_pla=Feed&cm_ite=Feed*

*Business Insurance Update* 
*Prudential's Books Hide $500 Million Loss*

Prudential Financial (PRU Quote - Cramer on PRU - Stock Picks) shares were trading sharply down this afternoon after the insurer held its earnings call to explain the $166 million loss for the third quarter. 

*Prudential's Books Hide $500 Million Loss*

Prudential's shares had opened at $35.25 in early trading on Thursday, and rose 7% in early trading. Shares then went as low as $26.11 before closing at $28.87, losing 18% for the day. It is not clear what drove the sudden drop, but clearly the market was unsettled by the lack of advice about future earnings, together with a reluctance of management to provide details about any excess capital reserves. 

Perhaps the market would have reacted stronger if it had heard the matter-of-fact way that CFO Richard Carbone announced to the listening analysts that Prudential was changing its accounting practices, with immediate effect, to follow SEC guidelines more closely and that $500 million in fixed-income securities that would previously have been reported as an impairment other than temporary will be recorded instead as an unrealized loss, as it considers the securities "good cash." In other words. "We are changing the way we account for assets partway through the year, because we don't want this loss to show up." 

Factoring in this "loss," the comparable figures would indicate a quarterly loss of $666 million; a significantly different story from the one told by the profit-and-loss statement. Naturally, the quarterly report included a significant loss on investments of $1.1 billion, and the consolidated loss of $166 million was down $1 billion from the same quarter in the prior year and a massive $2.3 billion year to date.

ALERT FINANCIAL UPDATE!

*CNA Suspends Dividend*, Raises Capital
*Aegon Mulls Billions* Tapping Netherlands Funding
*AIG - Has About Eight Weeks of Cash Left*

*Market Activity*
The Hartford Financial Services Group Inco| HIG 
*DOWN*
Prudential Financial Incorporated| PRU 
*DOWN*
Wachovia Corporation| WB 
*DOWN*

----------


## HOLLYWOOD

updated... ADDED a lot of nationwide corporate bankruptcies

Ichy to add the big 3 in the next 60 days

----------


## Cali4RonPaul

Add to Financial:

Franklin Bank, a Houston bank with $5.1 billion in assets, and Security Pacific Bank of California.

2 more banks go Belly up.

http://money.cnn.com/2008/11/07/news...ion=2008110814

----------


## HOLLYWOOD

Even the Ultra Rich are suffering:

Yellowstone Club aka Billioniares Boys Club

added a bunch more

North Americas Largest Lamborgihni Dealership closes

Interstate Bakeries Corporation

TOUSA, Inc housing

National Wholesale Liquidators vultures

RBC Capital Markets MotherRock LP hedge fund

Wellman Inc.,  plastics maker

----------


## danberkeley

> Even the Ultra Rich are suffering:
> 
> Yellowstone Club aka Billioniares Boys Club
> 
> added a bunch more
> 
> North Americas Largest Lamborgihni Dealership closes
> 
> Interstate Bakeries Corporation
> ...


You might as well declare GM and Ford bankrupt since Pelosi wont let them go bankrupt.

----------


## HOLLYWOOD

> You might as well declare GM and Ford bankrupt since Pelosi wont let them go bankrupt.


Yes, I added them... yet none is bringing up the Billions GM is spending Expanding in Brazil, Mexico, China, Russia. Additionally, noone is bringing up the 100s of Millions GM  is giving to Delphi each quarter. So, GM does one bad deal after another Delphi & UAW and the American people have to pay?

Im sick of watching this FOR SALE Corrupt & Colluding Congressional Scum on TV right now!

Now, Congress is giving loans to all the Suppliers too.  Did you hear Senator Levin (D-MI)? They had to past this to avoid a Depression!

Reid
Pelosi
Schumer
Dodd
Hoyer 
& that Black politician
Stabenow
Levin


these politicians MI et al, ... what a joke!

----------


## Sarge

Not looking good for Woolworth. They had stores all over, when I was growing up.

http://www.guardian.co.uk/business/2...reet-christmas

----------


## danberkeley

> Not looking good for Woolworth. They had stores all over, when I was growing up.
> 
> http://www.guardian.co.uk/business/2...reet-christmas


I had not idea they were still around.

----------


## Sarge

I was just checking and most of the stores are in the US. 900 and Canada 144 plus Footlocker stores. While the figures I found were from 1990 it still surprised me. I grew up in Illinois where there were a lot of stores.

They are willing to sell for 1 pound. I can afford that but not their debt.

http://www.chron.com/disp/story.mpl/...s/6120950.html

----------


## HOLLYWOOD

> I was just checking and most of the stores are in the US. 900 and Canada 144 plus Footlocker stores. 
> http://www.chron.com/disp/story.mpl/...s/6120950.html


*
Foot Locker quarterly income falls; costs rise
*
SAN FRANCISCO (MarketWatch) -- Foot Locker Inc. (FL:

*http://www.marketwatch.com/quotes/fl*

*Dell, Gap, Salesforce.com line up on earnings deck after market close = BAD NUMBERS!*

*http://www.marketwatch.com/news/story/dell-salesforce-gap-brocade-release/story.aspx?guid=%7B81787BC7%2D896C%2D4A3F%2D9AC8%2  DDC56196163EF%7D&dist=TQP_Mod_mktwN*

Thursday's closing bell said third-quarter net income fell, as sales costs rose, to $65 million, or 42 cents a share, from $66 million, or 42 cents a share, during the same period in the prior year. The retailer said quarterly revenue rose to $1.43 billion from $1.41 billion in the prior year, while Wall Street was looking for $1.42 billion. For the fourth quarter, Foot Locker backed its view for per-share income to increase several cents versus the same quarter in the prior year. The company raised its view for full-year earnings per share from continuing operations to be in the range of $1.58 to $1.65 before a non-cash charge.

----------


## Agent CSL

Build-A-Bear to shut down Friends 2B Made stores

----------


## Arklatex

If JCPenney makes the list then Dillards (DDS) definitely should.

----------


## danberkeley

> If JCPenney makes the list then Dillards (DDS) definitely should.


Dillards always seemed to me like a wannabe Nordstroms.

----------


## slacker921

K B Toys closing 356 stores
Movie Galley Closing all stores
Pep Boys Closing 33 stores
Macys to close 9 stores after January
Disney closing 98 stores and will close more after January.
GAP closing 85 stores
Cache will close all stores
Ann Taylor 117 stores nationwide closing

----------


## HOLLYWOOD

Updated the page

How things change so rapidly...

Cache stores announce back in April 08, they would be closing some stores and opening 14 new stores:

*http://retail.freedomblogging.com/2008/04/30/cache-closing-stores/*

----------


## Sarge

Lenox china filed for bankruptcy re organization. Quite a few makers of china have done the same in Europe.

Back to eating off paper plates I guess.

----------


## devil21

http://www.wcnc.com/news/local/stori...1e9cb1fd3.html




> CHARLOTTE, N.C. -- Steve and Barry's is closing all of its stores in the United States. 
> 
> The retailer is closing a total of 173 stores, including all locations in the Charlotte area. 
> 
> The retailer says it's selling off everything it has, and merchandise will be heavily discounted during the going-out-of-business sales. 
> 
> Stores will be closing within five to seven weeks.


It's a casual clothing chain.

----------


## Cali4RonPaul

Car dealerships in my area that have closed so far this year:

 Monday: Inland Valley Buick Pontiac GMC, San Bernardino CLOSED

Shaver Auto Center (Chrysler/Jeep), Shaver Kia, San Bernardino CLOSED

August: Freeway Lincoln-Mercury, San Bernardino CLOSED

June: Moss Bros. Ford, Colton CLOSED

March: Saturn of Loma Linda CLOSED

----------


## Cali4RonPaul

Hey Hollywood you should create another section on the first page.

Automotive Dealerships..

There is going to be a huge wave going under coming soon..

----------


## Sarge

Woolworth stock halted from trading. The interesting thing in this article is how much on the loans with GMAC being involved.

http://www.guardian.co.uk/business/2...ares-suspended

Wow, they just announced durable goods orders dropped 6.2 percent.

----------


## HOLLYWOOD

Added a bunch... notables 

Bally Total Fitness Holding Corp.
Hawaiian Telcom Communications ( largest phone company in Hawaii.. 
LandAmerica Financial Group
Agriprocessors Inc. <===  The kosher meatpacking company in Iowa that  criminal charges and huge fines for labor violations
Trump Entertainment Resorts  Will file Chapter 33!  3 round



another Carlyle Group bucher mess... you know, like Mitt Romney's Bain Capital Vultures

----------


## danberkeley

> Added a bunch... notables 
> 
> Bally Total Fitness Holding Corp.
> Hawaiian Telcom Communications ( largest phone company in Hawaii.. 
> LandAmerica Financial Group
> Agriprocessors Inc. <===  The kosher meatpacking company in Iowa that  criminal charges and huge fines for labor violations
> Trump Entertainment Resorts  Will file Chapter 33!  3 round
> 
> 
> ...


What's Chapter 33? Too lazy to do a google search.

----------


## HOLLYWOOD

> What's Chapter 33? Too lazy to do a google search.


Narcissistic Sociopath Donald Trump's third time he's filing Chapter 11...

*Trump Entertainment Resorts*

3 x Chapter 11 = Chapter 33 

Gesus Trump is like Herpes... He just never goes away

----------


## danberkeley

> Narcissistic Sociopath Donald Trump's third time he's filing Chapter 11...
> 
> *Trump Entertainment Resorts*
> 
> 3 x Chapter 11 = Chapter 33 
> 
> Gesus Trump is like Herpes... He just never goes away


i see

----------


## FrankRep

Thump has tons of businesses, one failing business means little.

----------


## HOLLYWOOD

> Thump has tons of businesses, one failing business means little.


ANybody investigate TRUMP's current EMPIRE?

You know he's a man of Leverage... Adding up his Assets/Liabilities/Debts/Revenues/Cash Flow

would be a much better justification to: "means little"

So how's Donny Doing?

----------


## danberkeley

> ANybody investigate TRUMP's current EMPIRE?
> 
> You know he's a man of Leverage... Adding up his Assets/Liabilities/Debts/Revenues/Cash Flow
> 
> would be a much better justification to: "means little"
> 
> So how's Donny Doing?


Donny Deutsch? Is he still hosting "The Big Idea"?

----------


## Sarge

Tweeter shuttered their stores early and fired all 600 employees today. They were not suppose to close until Sunday.

Dec. should set a new record for job losses.

----------


## HOLLYWOOD

> Donny Deutsch? Is he still hosting "The Big Idea"?


Donald "DONNY" Trump  Dec 1 has been a reality check for the SOCIOPATH lookie:

*http://www.huffingtonpost.com/2008/11/30/trump-entertainment-to-mi_n_147249.html*

*Defaults $53 Million payment on Trump Entertainment*

*http://www.nbcchicago.com/around_town/real_estate/Trump-Sued-Over-Chicago-Tower.html?corder=&pg=10*

Trump Sued... Deutsche Bank Trust Co. Americas filed the suit Friday in Manhattan's New York state court, alleging *Trump didn't pay off a remaining $334.2 million loan* *due on Nov. 7* to Deutsche Bank and its syndicate of lenders.

Somebody ought to asking Donald Slump this question:

*http://www.trumpuniversity.com/blog/post/2007/02/how-healthy-is-your-enterprise.cfm*

January 2007 worth:  $2.8 Billion

January 2009's worth: -$?.? Billion

The actual worth of his largely private empire is, of course, hard to pin down. Forbes estimates it at $2.9 billion. Trump has his chief financial officer, Allen Weisselberg, show me documents that put his net worth at roughly $4.1 billion as of June, 2006, with assets totaling $4.8 billion and liabilities of around $700 million. That includes a valuation of $370 million for Trump Tower which has a $25 million mortgage--"and that's because there's no prepayment clause!"-- as well as $900 million for "club facilities and related real estate" such as 75 residential lots along the Palos Verdes Peninsula near Los Angeles. Then there's the value of his name, which Trump calls "the hottest brand on the planet." It's not Coca-Cola (KO ), but who else gets equity stakes in prime properties for putting up their name and little else?

Why this is the stuff of lawsuits is another question. By most sane assessments, Trump is rich. When he puts his name on bottled water, vodka, or a business suit, it sells. Trump buildings get a premium. People clamor to hear his speeches, for which he gets as much as $1.5 million a pop. They buy his books. They even still watch his reality TV show, with 9.1 million viewers tuning into the Jan. 7 premiere.

The truth is that Trump likes combat, especially when it's played out in public. He's suing the town of Palm Beach, Fla., for $25 million, with the money earmarked for "returning Iraqi vets" if he wins, because of the town's alleged harassment when it tried to get him to take down an 80-foot flag pole at his private club, Mar-A-Lago. "In life, you have fighters and nonfighters. You have winners and losers," says Trump. "I am both a fighter and a winner."

----------


## danberkeley

> Donald "DONNY" Trump  Dec 1 has been a reality check for the SOCIOPATH lookie:
> 
> *http://www.huffingtonpost.com/2008/11/30/trump-entertainment-to-mi_n_147249.html*
> 
> *Defaults $53 Million payment on Trump Entertainment*
> 
> *http://www.nbcchicago.com/around_town/real_estate/Trump-Sued-Over-Chicago-Tower.html?corder=&pg=10*
> 
> Trump Sued Deutsche Bank Trust Co. Americas filed the suit Friday in Manhattan's New York state court, alleging *Trump didn't pay off a remaining $334.2 million loan* *due on Nov. 7* to Deutsche Bank and its syndicate of lenders.
> ...


Say what? Donald Trump's nickname has always been the "The Donald".

----------


## HOLLYWOOD

> Say what? Donald Trump's nickname has always been the "The Donald".


Not if you're dealing with the Bookies and Mafia funding groups! LOL

The Donald - that's his conjued-up Narcissistic nickname

You wanta know when Donald Trump is doing Good or Bad?

Good = Conceited Mogul NEVER shuts up!

Bad  = Conceited Mogul is MIA!

----------


## HOLLYWOOD

Added

TRIBUNE ENTERTAINMENT - Tribune broadcasting, Chicago & LA Times newspapers, 23 TV stations, and a bunch other Tribune affiliates.
The Baltimore Opera Co.
EZ Lube, LLC
Equity Media Holdings Corporation
Eclipse Aviation Corporation
Empire Land, LLC 
Pilgrim’s Pride
Village Homes of Colorado
Tweeter Opco
Lenox Sales, Inc


Empire Land, LLC and its subsidiaries from cases under chapter 11 of the Bankruptcy Code to cases under chapter 7 of the Bankruptcy Code.

Equity Media Holdings Corporation filed a voluntary petition under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Eastern District of Arkansas.  The company operates English- and Spanish-language radio stations in 41 U.S. cities. 

some links to articles on corporate bankruptcies around the country:

*http://www.bizjournals.com/phoenix/stories/2007/07/09/daily4.html?surround=lfn&brthrs=1*

*NFL cuts 10% of it's workforce!*

Whata environment, eh?

----------


## danberkeley

> Added
> 
> TRIBUNE ENTERTAINMENT - Tribune broadcasting, Chicago & LA Times newspapers, 23 TV stations, and a bunch other Tribune affiliates.
> The Baltimore Opera Co.


RIP many government arts programs in the San Francisco Bay Area. Oh noes! What will the kidz do nowz!?!?!?!?

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## Sarge

A couple more file,

http://www.bloomberg.com/apps/news?p...x4Q&refer=news

http://www.bloomberg.com/apps/news?p...J3c&refer=home

Advantage rent a car files.

More hospitals file.

----------


## Sarge

Keep an eye on this one,

http://www.thespec.com/News/BreakingNews/article/479809

If Nortel has to file, that will be a major filing.

----------


## Sarge

Another one files for bankruptcy,

http://cms.ibj.com/ASPXPages/6iframe...6478&NoFrame=1

Indiana is getting hit hard.

----------


## Cali4RonPaul

> Added
> 
> TRIBUNE ENTERTAINMENT - Tribune broadcasting, Chicago & LA Times newspapers, 23 TV stations, and a bunch other Tribune affiliates.
> The Baltimore Opera Co.
> EZ Lube, LLC
> Equity Media Holdings Corporation
> Eclipse Aviation Corporation
> Empire Land, LLC 
> Pilgrims Pride
> ...


Wow unbelievable those are some big names.

----------


## Sarge

Keep an eye on this one,

http://business.timesonline.co.uk/to...cle5321569.ece

Kodak

----------


## HOLLYWOOD

Thanks for the HEADSUP Sarge...

Networking Giant :  Nortel Systems has taken on a bankruptcy team and if the money doesn't come shortly, you're looking @:   33,000 Employees vulnerable .

stock is at: $0.40... yes 40 cents


*http://www.thestreet.com/story/10452323/1/nortel-seeks-advice-on-bankruptcy-report.html?puc=_tscrss*





PS: I updated the list

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## HOLLYWOOD

Mall Icon...

Every Childhood memory contains them:

*http://query.nytimes.com/gst/fullpage.html?res=9804E5DA1130F936A25752C0A9629C8B  63*




About KB Toys

KB Toys, Inc. is the nationﾒs largest mall-based specialty toy retailer, operating over 400 stores in 44 states, the American Territory of Guam and the Commonwealth of Puerto Rico. A more than 80-year old company, KB Toys is privately held and headquartered in Pittsfield, Massachusetts. We are a company that knows that business can and should be FUN! Our success? Itﾒs our employees! One-on-one with our customers, the fun-filled atmosphere and service that our associates provide is KB Toys. Thus, we look for and expect the BEST from our associates!

----------


## theoakman

what gets me is that America has been screaming that the little guy can no longer open up a business because giant corporations have squeezed them out.  This is is your shot America, let them go bankrupt.  Will you lose your job?  Hell yes.  Will you have the opportunity to work for yourself rather than some fatcat CEO in the future?  Hell yes!

----------


## Primbs

> what gets me is that America has been screaming that the little guy can no longer open up a business because giant corporations have squeezed them out.  This is is your shot America, let them go bankrupt.  Will you lose your job?  Hell yes.  Will you have the opportunity to work for yourself rather than some fatcat CEO in the future?  Hell yes!


Very True. Recessions can be great times for entrepreneurs to get started.

----------


## LibertyEagle

> Mall Icon...
> 
> Every Childhood memory contains them:
> 
> *http://query.nytimes.com/gst/fullpage.html?res=9804E5DA1130F936A25752C0A9629C8B  63*
> 
> 
> 
> 
> ...


QUICK.  Someone tell them that they should become a bank holding company and apply for a bailout.

----------


## Sandra

> Very True. Recessions can be great times for entrepreneurs to get started.



Especially businesses that could start up with little capital and sell products and services useful to economically depressed households or businesses.

----------


## Sarge

H,

You are welcome.

----------


## Sarge

Keep and eye on this one. Sprint debt downgraded to junk status,

http://www.bizjournals.com/kansascit...8/daily38.html

Not good for the third largest.

----------


## HOLLYWOOD

> Keep and eye on this one. Sprint debt downgraded to junk status,
> 
> http://www.bizjournals.com/kansascit...8/daily38.html
> 
> *Not good for the third largest.*


Not GOOD for NASCAR! SPRINT/NEXTEL is the main Sponsor for the Cup racing! 

Auto dealers
Decline advertising
Layoffs at just about all the race teams...
Fans refusing to spend... (fools anyway)

I bet race teams and NASCAR will revert to FOREIGN INVESTMENT for funding the show...

Look for Honda, BMW, RENAULT, MERCEDES to pickup off the big 3.

It will be entertaining to see how they spin it this year. 2009 may be a marketing gimmick:  Back to Dirt Track racing

In a dire search for sponsorship revenue, 60% less fan support, and lack of money... *The Daytona 500 will be renamed the Tampax 200* 

Rumors have it that Dale Earnhart Jr earned over $40 Million for 2008 year. That'll quickly change!

http://finance.yahoo.com/echarts?s=T...urce=undefined

*http://www.reuters.com/article/marketsNews/idESBNG40259120081210?rpc=44*

bad news for SPRINT!

*http://www.reuters.com/finance/stocks/analystResearch?symbol=ISCA.O*

Analyst have a HOLD+ on NASCAR

*http://finance.yahoo.com/q?s=ISCA*

----------


## Sarge

Keep an eye on this one. Look at their cash compared to debt,

http://blogs.wsj.com/deals/2008/12/1...kers-troubles/

----------


## sevin

Not Mrs. Fields' cookies!

----------


## Sarge

Another filing,

http://www.securitydirectornews.com/...y%20protection

----------


## devil21

http://www.charlotteobserver.com/bre...ry/411131.html

LA Weight Loss Centers shutting down.




> This morning, a sign posted on the door of the LA Weight Loss Center on Baxter Street near uptown Charlotte read: “Due to the current economic conditions and the notice from our Franchisor that they are ceasing operations we have no choice but to close our Charlotte and surrounding area centers.”

----------


## Sarge

Another one files,

http://www.crainsdetroit.com/article...E/812120291/-1

----------


## HOLLYWOOD

Updated a bunch bankruptcies... and bank failures from the past 2 weeks

Gesus this thread has been a lot of work!

----------


## Sarge

Polaroid files for bankruptcy,

http://www.bloomberg.com/apps/news?p...XtM&refer=home

Note the alleged 2 or 3 billion Poniz scam by the Petter's Group going on.

----------


## Sarge

Keep an eye out on this,

http://www.dallasnews.com/sharedcont....772c78a5.html

This comments on the potential also,

http://www.propertywire.com/news/nor...812192281.html

We are going to see many of these go under when they can't get the big re financing of their leveraged debt.

----------


## fedup100

> Whoa!  Be careful what you post. I think you got the wrong company.
> 
> Bed Bath and Beyond is not going down in retail. They have no debt and a billion or more in cash.
> While they may experience a slow down in sales, they will be the survivor.
> 
> Linens and Things is likely to declare bankruptcy Tuesday if they can't work anything out.


Just got Madoff'd!

----------


## ihsv



----------


## ihsv

Thacher Proffitt Law Firm

http://www.bloomberg.com/apps/news?p...awU&refer=home

----------


## HOLLYWOOD

Updated with Thacher Profitt

and rumors have it: *Sports Chalet* and their 60 stores to close their doors.

stock is at *48 cents... lost a buck a share down from 52 week high of $11.39* Sports Chalet also shutdown their Online Purchasing Website... probably going to be one of the first failures for our 2009 bankruptcies.

http://www.sportchalet.com/docs/SC_Annual08.pdf

*http://www.answers.com/topic/sport-supply-group-inc*

If you have GIFT CARDS... I recommend using them immediately, IF, not protected by state and federal laws. Look at the annual report of details...

----------


## Agent CSL

Can I get some information on the commercial real estate market on the teetering edge? I heard loans aren't going to be paid next year for the coming due of the Adj.R. financing for malls and the like, and I'd like to know who is threatened.

----------


## Sandra

A great way to find out is to hit malls the day after Christmas and observe individual stores. If they appear to be boxing up inventory or selling newer inventory at near cost, that's bad. Another bad sign is mall floorspace that wes empty before will now be used as a discount outlet for several stores, I'm betting that's what will draw shoppers in. Bon Marche Mall in Baton Rouge did that beffore closing.

----------


## s35wf

on 12-22-08 Westgate Resorts in Orlando laidoff/fired 80% of its sales & marketing staff.  Im so upset because all of the sale & marketing people basicly Starve all winter (sept, oct, nov, & dec) waiting for the two weeks of xmas & new years to earn their fall/winter incomes.  Now 2 days before xmas they do this; the rug has been pulled out from underneath our feet at the very last minute with no oppertunity to find either another job or another resort to market for for the xmas holidays.  Im so sad & upset at David Siegal, If he was going to do this, it should have been done weeks ago; NOT two days before xmas.  

PS if anyone needs any attraction tickets my # 407-230-2757  Helena

----------


## 2orb

B. Moss Clothing Co.

In PA it was there last weekend - another hole in the mall today.

69 years, 70 stores, 16 states...

http://www.wwd.com/business-news/b-m...ba744ef86a23c6

----------


## Sarge

Another one files,

http://www3.signonsandiego.com/stori.../?zIndex=28443

Our friends son owns a beauty shop. If what he told us Friday, is right, it looks like one in four businesses might go belly up next year. He hears all what is going on with the clients, and it is not looking good he said. 

The Fed will not be able to stop what is likely coming down the pike. January could be an ugly month for filings.

----------


## HOLLYWOOD

Nationwide - Interstate/Highway famous: * Flying J's* Truckstops/Fuel Startions, Refineries, country stores... files bankruptcy

*http://www.flyingj.com/flyingjPortalWebProject/flyingjPortal.portal;jsessionid=T6jvJXpLGh2t1dcZbp  VhrfGHKvKQL2QkBYsLhfZYQWG8yrWh2CT7!1241961857!NONE  ?_nfpb=true&_pageLabel=flyingjPortal_portal_page_9  8*

*http://www.ttnews.com/articles/basetemplate.aspx?storyid=21023*


Added other posted bankruptcies since last post

----------


## Agent CSL

Bump.

----------


## DFF

Flying J. I've stopped by there many times during road treks.

----------


## amonasro

> on 12-22-08 Westgate Resorts in Orlando laidoff/fired 80% of its sales & marketing staff.  Im so upset because all of the sale & marketing people basicly Starve all winter (sept, oct, nov, & dec) waiting for the two weeks of xmas & new years to earn their fall/winter incomes.  Now 2 days before xmas they do this; the rug has been pulled out from underneath our feet at the very last minute with no oppertunity to find either another job or another resort to market for for the xmas holidays.  Im so sad & upset at David Siegal, If he was going to do this, it should have been done weeks ago; NOT two days before xmas.  
> 
> PS if anyone needs any attraction tickets my # 407-230-2757  Helena


So sorry to hear this Helena.  My brother-in-law just had his health care cut from the cement truck company he works for during the summer.  They have 2 young children.  He's laid off in the winter, and now he gets this cheery news.  Who knows how long the company will stay afloat as he lives near Detroit.  I keep telling everyone that it doesn't feel like Christmas this year... I guess I know the reason why

----------


## Agent CSL

My job is based on keeping commercial buildings running (commercial HVAC). Looks like I'll lose my job in a few months when the rolling mall closures come.

----------


## slacker921

http://www.bloomberg.com/apps/news?p...PWI&refer=home




> Dec. 30 (Bloomberg) -- Constar International Inc., the Philadelphia-based plastic-bottle manufacturer, sought bankruptcy protection as part of a pre-arranged debt for equity exchange.
> 
> The company listed debt of $538 million and assets of $420 million in Chapter 11 documents filed today in U.S. Bankruptcy Court in Wilmington, Delaware.

----------


## HOLLYWOOD

Updated the latest bankruptcies...

I presume we can put Bernie Madoff's company in the lot.

Last day for 2008!

Get your bankruptcies posted!

----------


## jdmyprez_deo_vindice

A Maryland based retail outfit that deals with jackets and sports coats is going belly up. I cannot remember the name of the company right off hand but they have been running some going out of business commercials with up to 90% of their stuff.

----------


## Sandra

> My job is based on keeping commercial buildings running (commercial HVAC). Looks like I'll lose my job in a few months when the rolling mall closures come.



My husband does the same. They had to switch to some residential to keep very busy.

----------


## Sarge

Get ready, here they come. Bill Blass files,

http://money.cnn.com/news/newsfeeds/...2_FORTUNE5.htm

----------


## Sarge

3rd largest greeting card company files,

http://www.indystar.com/article/2009.../1003/BUSINESS

----------


## HOLLYWOOD

I'll do up a 2009 version  thread with a "CLOSURES" section after breakfast. Taking all inputs suggestions

Thanks to ALL that posted, participated, gave input!

*WOW, almost 9000 views for 8 months*... I guess it's a very successful and informative thread/subject!

----------


## Sarge

Here goes 9K jobs and 282 stores,

http://money.cnn.com/news/newsfeeds/...1_FORTUNE5.htm

----------


## Sarge

Big filing hitting the wires. Not sure how many they employ,

http://www.bloomberg.com/apps/news?p...UQE&refer=home

Holy cow, I just saw this,

according to the court filing. LyondellBasell is saddled with $26 billion in debt. Its largest lenders include Merrill Lynch & Co., Goldman Sachs Group Inc. and Citigroup Inc. 

It never ends.  I hope Goldman holds the largest share.

----------


## Sarge

Apparently all things are not Equal.

Filing for bankruptcy,

http://www.guardian.co.uk/business/feedarticle/8225457

----------


## tmosley

Need to put that in the new thread.

Looks like Splenda put em out of business.

----------


## HOLLYWOOD

> Need to put that in the new thread.
> 
> Looks like Splenda put em out of business.



I did do a 2009 version... I have to update it with the Boeing 787 FLOP and 4500 layoffs and a couple of other updates..

look for it soon

----------

