Highlights
A collection of news and information related to Financially Distressed Companies published by Tribune Company sources.
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Antitrust regulators clear BofA-Merrill deal
Federal antitrust regulators say they have cleared Bank of America's $34.9-billion purchase of Merrill Lynch & Co. Inc. The deal, announced Sept. 15, is part of the rapid restructuring of the U.S. financial system in the face of the global credit crisis....Tags: Bankruptcy, North Carolina, Charlotte, Lehman Brothers Holdings Incorporated, Antitrust Issues
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Cuomo Threatens AIG on Bonuses, Trips
The Washington PostWASHINGTON -- New York Atty. Gen. Andrew Cuomo on Wednesday threatened insurance giant American International Group with legal action if the company did not immediately cease spending money on extravagant bonuses and trips while the company is being...Tags: Bankruptcy, American International Group, CEO Pay, Washington Post Company, Federal Reserve
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Linens 'n Things plans to liquidate stores
keiko.morris@newsday.comHome furnishings retailer Linens 'n Things, which filed for bankruptcy protection in May, canceled its auction and plans to begin liquidation sales at its stores as soon as tomorrow. Linens Holding Co., the parent of Clifton, N.J.-based Linens 'n Things,...Tags: Commack, Bankruptcy, Bay Shore, Massapequa, Riverhead (Suffolk, New York)
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State freezes Tropicana sale process for 2 weeks
Associated Press WriterThe future of the Tropicana Casino and Resort is more uncertain than ever. On Wednesday, New Jersey regulators froze the sale process of the troubled casino for at least two weeks while parties including the state Supreme Court, a Delaware bankruptcy...Tags: Kentucky, Local Authority, Trials, Gaming and Lotteries, Casino and Gambling Industry
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Linens 'n Things: Stores to close, sales to start
Specialty retailer Linens 'n Things, which filed for bankruptcy protection in May, plans to begin liquidation sales at its stores as early as Thursday after failing to find a buyer that wanted to operate the company. Last week, the Linens Holding Co.,...Tags: Bankruptcy
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Linens 'N Things to begin liquidation this week
Specialty retailer Linens 'N Things, which filed for bankruptcy protection in May, plans to begin liquidation sales at its stores as early as tomorrow after failing to find a buyer that wanted to operate the company. "It's a straight going-out-of business...Tags: Bankruptcy
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Business Briefing - October 15, 2008
VIDEO GAMES FEATURE ADS FOR OBAMA'S CAMPAIGN WASHINGTON | Too busy playing video games to watch presidential ads on television? Barack Obama has found you, too, by becoming the first presidential candidate to buy ad space inside a game. Eighteen video...Tags: Iowa, Barack Obama, Jefferson County (Alabama), Wisconsin, Bankruptcy
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Linens 'n Things to liquidate wares
Linens 'n Things Inc., the bankrupt housewares retailer, plans to begin liquidation sales at its stores as early as Thursday after failing to find a buyer that wanted to operate the company. The company is to appear in U.S. Bankruptcy Court in Delaware...Tags: Delaware, Bankruptcy, Sales, Justice System, Court Administration
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IN BRIEF
GMAC Llc, majority owned by Cerberus Capital Management Lp, will limit auto loans to customers with credit scores of at least 700. GMAC also raised by 75 basis points the rate it charges auto dealers for making loans that aren't part of special...Tags: Republic Services Incorporated, Minnesota, Waste Management and Pollution Control, Ed Miller, Waste
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Linens 'N Things will begin liquidation as early as Thursday after auction canceled
AP Business WriterNEW YORK (AP) _ Specialty retailer Linens 'n Things, which filed for bankruptcy protection in May, plans to begin liquidation sales at its stores as early as Thursday after failing to find a buyer that wanted to operate the company. "It's a straight...Tags: Delaware, Bankruptcy, Sales, Auction Service
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Ala. county commission rejects filing for record municipal bankruptcy over $3.2B sewer debt
Associated Press WriterBESSEMER, Ala. (AP) _ Commissioners in Alabama's most populous county voted against filing the largest municipal bankruptcy in U.S. history Tuesday and the federal government refused to guarantee the county's $3.2 billion sewer bond debt. The Jefferson...Tags: Bob Riley, National Government, Jefferson County (Alabama), Bankruptcy, $700 Billion Bank Bailout
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Singaporean opposition party ordered to pay prime minister and his father in defamation case
Associated Press WriterSINGAPORE (AP) _ Singapore's High Court ruled that an opposition party and two of its leaders must pay $416,000 in defamation damages to Prime Minister Lee Hsien Loong and his father, former Prime Minister Lee Kuan Yew. The court on Monday ordered the...Tags: Lee Hsien Loong, Parties and Movements, Trials, Death and Dying, Justice System
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