A weekend of union strikes has left Hostess Brands warning about plant closures and a possible liquidation of the beleaguered baking company.
“Workers at Hostess Brands, maker of Twinkies , Ho Hos and Wonder Bread, have threatened to strike if the company imposes “unfair” contract terms, including wage cuts.
The Teamsters Union, representing about 7,500 of the company’s 19,000 employees, said that more than 90 percent of its Hostess members voted to [...]
The crippled law firm Dewey & Leboeuf LLP filed for Chapter 11 bankruptcy protection Monday night and will seek approval to liquidate its business after failing to find a merger partner, marking the biggest collapse of a law firm in U.S. history.
Once one of the largest law firms in the U.S., Dewey has been hit by the loss of the vast majority of its roughly 300 partners to other firms [...]
Troubled law firm Dewey & Leboeuf LLP has filed for chapter 11 bankruptcy protection in a U.S. court and has sought orderly wind-down of business.
Dewey & Leboeuf said it did not anticipate a return to business and expected the winding down process to be completed in the next few months.
Northern Mariana Islands Retirement Fund (38.8% funded)
In what’s believed to be a first by a public pension plan, the Northern Mariana Islands Retirement Fund, Saipan, filed for Chapter 11 bankruptcy protection on Tuesday.
The public defined benefit plan is only 38.8% funded, thanks to low investment returns and a benefit structure that’s been increased without raises in funding, according to the bankruptcy filing in the U.S. District Court for the Northern Mariana [...]
A company that makes ‘pink slime’ products has filed for bankruptcy as the backlash against the controversial beef filler continues.
AFA Foods has announced that it is filing for Chapter 11 bankruptcy protection and selling its assets after the public outcry over the beef substance derailed its efforts to save its already struggling business.
The Pennsylvania-based company processes more than 500 million pounds of ground beef products a year and distribute to [...]
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By RONNIE GREENE and MATTHEW MOSK (@mattmosk)
iWATCH NEWS and ABC NEWS
March 6, 2012
President Obama’s Department of Energy helped finance several green energy companies that later fell into bankruptcy — but not before the firms doled out six-figure bonuses and payouts to top executives, a Center for Public Integrity and ABC News investigation found.
Take, for instance, Beacon Power Corp., the second recipient of an Energy Department loan guarantee [...]