Search results
Results From The WOW.Com Content Network
General Motors bankruptcy. Only days after approaching the U.S. Government to seek further funding, General Motors published its losses for the final quarter of 2008 to be at $9.6 billion (£6.7 billion). This brought its overall 2008 losses to $30.9 billion. In 2007, General Motors made a loss of $38.7 billion.
In September 2008, the Big Three asked for $50 billion to pay for health care expenses and avoid bankruptcy and ensuing layoffs, and Congress worked out a $25 billion loan. [93] By December, President Bush had agreed to an emergency bailout of $17.4 billion to be distributed by the next administration in January and February. [ 94 ]
In addition, the investment bank Lehman Brothers filed for Chapter 11 bankruptcy protection in September 2008, citing bank debt of $613 billion and $155 billion in bond debt. The solvency of other U.S. banks was severely threatened, forcing the George W. Bush government to intervene with the $700 billion bailout plan of the Troubled Asset ...
NEW YORK (Reuters) -U.S. Bankruptcy Judge David Jones in Houston, who oversees more major Chapter 11 cases than any other U.S. judge, said on Friday he is facing an ethics review over a previously ...
Big 5 Sporting Goods store in Glendale, California (2007) Big 5 Sporting Goods Corporation is a sporting goods retailer headquartered in El Segundo, California with 434 stores in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming. [ 5] Steven G. Miller is the chairman, president, and CEO.
From March 2022 to July 2023, the Fed hiked its key interest rate from near zero to a range of 5.25% to 5% — a 23-year high — in an effort to tame a pandemic-induced inflation spike.
American Apparel. If you spent any time at all cognizant of advertising in the ’90s or early aughts, you surely remember American Apparel. The business, which peaked with more than 250 stores ...
Post-bankruptcy filing, CMED's liquidator found itself probing an alleged $355 million insider fraud. In March 2017, the U.S. Department of Justice criminally indicted the CMED founder and CEO, as well as former Chief Financial Officer, charging them with securities fraud and wire fraud conspiracy for stealing more than $400 million from ...