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FRIDAY, NOVEMBER 20, 2009
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NEWS ABOUT: debt

debt stories: 103 news summaries

1 - 20 of 103 Stories | 1 2 3 4 5 6 Next >>

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whose law applies?

Tribal Casino Defaults
May Sink Creditors  

Foxwood failure sparks debate over  'sovereign nation' status

Nov 19, 09 2:17 PM CST
(Newser) - As the Native American tribe that own the Foxwoods Resort Casino in Connecticut looks poised to become the biggest defaulter yet on tribal casino debt, holders of billions of dollars of tribal debt are questioning whether US laws apply to tribes operating as sovereign nations. “With casinos such as... More »

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bankruptcy • debt • casino • default • Native Americans • Foxwoods

TIPS FOR THE MANSIONLESS


 What Broke 
 Celebs Can 
 Teach Us 

Don't make the same mistakes as Nicolas Cage and Annie Leibovitz

Nov 6, 09 9:38 AM CST
(Newser) - Celebrities really are just like us: During these financially stressful times, they’re suffering, too. On Huffington Post, Manisha Thakor points out the takeaway from four high-profile meltdowns.
  • NBA Player Antoine Walker: Squandered away his $110 million fortune by age 33. The lesson? If you have a variable
... More »

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entertainment • debt • celebrity • recession • Antoine Walker • credit crisis • Annie Leibovitz • Nicolas Cage • Nicolas Cage broke

 Nicolas Cage 
 Selling Vegas 
 Mansion to 
 Cover Debt 

Actor owes IRS $6.6M, is suing former manager

Nov 3, 09 2:56 PM CST
(Newser) - Nicolas Cage must sell his $10 million Las Vegas mansion to help cover the $6.6 million he owes to the IRS in back taxes and penalties. The Nevada estate is just the latest property Cage has been forced to put up for sale to cover his mounting debt, and... More »

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taxes • debt • Nicolas Cage • back taxes • Nicolas Cage broke

DAVID BROOKS

Leveling With Voters Could Revive GOP

Look at Britain: a tough austerity program has emboldened the right

Oct 16, 09 8:22 AM CDT
(Newser) - The economy might be in shambles, but Republicans are offering no alternative plan to ward off mounting American debt—insisting on yet more tax cuts and refusing to cut into bloated Medicare. David Brooks suggests they take a lesson from their British cousins, the Tories, who are poised to win... More »

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debt • Tories • Conservative Party • public sector • David Brooks • George Osborne

 CityCenter: Las Vegas' 
 $8.5B Stimulus Bet 

Hotel-casino-condo-shopping behemoth brings 12K jobs, optimism to battered state

Sep 23, 09 6:54 PM CDT
(Newser) - A gigantic addition to the Las Vegas Strip is a one-stop stimulus package for a city and state walloped by the recession and an $8.5 billion bet that happy days are near again. With 12,000 jobs, the CityCenter project—a kaleidoscope of condominiums, boutique hotels, shopping, and, of... More »

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Las Vegas • debt • recession • casino • CityCenter • hotel • credit crisis • condominium • Las Vegas Strip • financial crisis

ANALYSIS

 Knox Trial 
 Is 'Poison' for 
 All Involved 

Fallout has ruined people's lives from Seattle to Perugia

Sep 12, 09 6:44 PM CDT
(Newser) - Amanda Knox may be the one on trial for the 2007 murder of Meredith Kercher, waiting it out in a sweltering Italian prison. But as Barbie Nadeau notes in Newsweek, Knox isn’t the only one suffering: “The Knox trial is poison,” Nadeau writes. “Nearly everyone it... More »

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Italy • debt • Perugia • Meredith Kercher • Amanda Knox • Raffaele Sollecito • Rudy Hermann Guede • criminal trial

Leibovitz
Staves Off
Foreclosure

Photog gets reprieve, but property, rights to work still at risk

Sep 11, 09 2:58 PM CDT
(Newser) - Annie Leibovitz has won an extension of her outstanding $24 million debt to Arts Capital Group, the New York Times reports. The celebrity photographer bought back the rights to her homes and intellectual property—both collateral in the loan—for an undisclosed sum as part of the restructured deal. But... More »

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bankruptcy • photography • debt • Annie Leibovitz • loan

Georgia Man Innocent in Trailer Slayings: Kid Brother

Cites drug dispute; 'my bro has a conscience'

Sep 6, 09 2:09 PM CDT
(AP) - The brother of a Georgia man charged with slaying his father and seven others in a mobile home insists that 22-year-old Guy Heinze Jr would never harm his family, and instead speculates that a drug dispute could have prompted the killings. "I know my brother didn't do this. My... More »

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drugs • police • murder • Georgia • debt • killings • Guy Heinze

Commercial Real Estate May Set Off 2nd Crisis

Another mortgage-backed securities market gets into trouble

Aug 31, 09 7:27 AM CDT
(Newser) - Just as the economy starts to recover, a second mortgage disaster may be looming. The commercial real estate sector is tanking, with many properties unable to generate enough cash to make mortgage payments. Lo and behold, those commercial mortgages have been sewn into securities—comparable to the packages of home... More »

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mortgage • debt • mortgage debt • mortgage backed securities • commercial real estate • financial crisis

OPINION

Don't Fear Debt —Failed Reform Is Scarier

Krugman: We need deficits in a recession; they 'saved the world'

Aug 28, 09 6:19 AM CDT
(Newser) - Paul Krugman isn't surprised that the projected $9 trillion deficit over the next decade is being greeted as a sign of economic apocalypse—and that commentators think it proves health care reform should be scuppered. In fact, he writes in the New York Times, it's good to run a deficit... More »

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debt • deficit • national debt • health care reform • Paul Krugman • federal spending • budget deficit • deficit hawks

(Newser) - The American economy is heading out of recession, but the long-term fate of the dollar may not be so bright, writes the Wall Street Journal. Growing numbers of economists and investors, including Warren Buffett, say that stimulus spending and rate cuts will boost inflation and weaken the greenback. At the... More »

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inflation • currency • debt • national debt • US dollar • weak dollar

Buffett: Cut Our 'Greenback Emissions'

With recovery in sight, Congress should curb deficit spending

Aug 19, 09 7:20 AM CDT
(Newser) - Just as carbon emissions could have a dire effect on the environment, Warren Buffett thinks “greenback emissions” could wreak havoc on the economy, he writes in the New York Times. The government has spent staggering sums to avoid economic disaster, and that was wise. Now, the economy is... More »

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inflation • debt • deficit • budget deficit

GLOSSIES

 How Annie Leibovitz 
 Got Underwater 


Aug 17, 09 1:46 PM CDT
(Newser) - Photographer to the stars Annie Leibovitz is in a widely reported financial pickle, but it really comes as no surprise to those close to her, New York reports. Leibovitz is now engaged in baroque legal wrangling over her catalog, but her troubles started earlier. Insiders say a suspected “... More »

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Vanity Fair • bankruptcy • photography • debt • Vogue • photographers • spending • Annie Leibovitz • underwater • economic downturn • Susan Sontag • catalog

(Newser) - American banks will pull in $38.5 billion in overdraft fees this year, a record sum that's largely coming from pockets of the poorest and most indebted consumers. According to the Financial Times, banks hiked fees on overdrafts and credit cards as the financial crisis took hold; this year's take... More »

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Citigroup • Bank of America • debt • bank • credit • banking • consumer debt • JPMorgan Chase • overdraft fee

(Newser) - A financial firm is suing Vanity Fair photographer Annie Leibovitz for failing to cooperate to repay a $24 million loan, reports the Telegraph. Leibovitz last year put up her photographs and two homes as collateral for the money to pay off debts. But now Art Capital Group said the 59-year-old... More »

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Vanity Fair • photography • debt • court • lawsuit • photographers • Annie Leibovitz • loan • repayment

EARNINGS REPORT

 Ford Shocks Street 
 With $2.3B Profit 


Jul 23, 09 6:39 AM CDT
(Newser) - Ford surprised the markets today by posting a $2.3 billion quarterly profit, thanks mostly to debt restructuring actions, Reuters reports. The result beat estimates and represents Ford's first good quarter in more than a year; this time in 2008, the automaker lost $2.7 billion. But the global downturn... More »

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debt • Ford • corporate earnings • restructuring • auto industry • quarterly reports • quarterly profits • cars

(Newser) - Stephen Baldwin has declared bankruptcy after grappling unsuccessfully with millions of dollars of debt, reports AP. The actor owes $1.2 million in mortgages on a New York property, $1 million in back taxes and $700,000 in credit card debt, according to documents filed yesterday in a New York... More »

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bankruptcy • debt • court • Stephen Baldwin • actor • I'm A Celebrity ... Get Me Out of Here!

(Newser) - The New York attorney general has told Charles Schwab he will sue the brokerage for civil fraud over its marketing of securities to clients, reports the Wall Street Journal. Andrew Cuomo alleges that Schwab's brokers had little understanding of the financial instruments and then failed to inform clients that the... More »

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debt • lawsuit • Andrew Cuomo • liquidity • brokerage • Charles Schwab Corp • auction-rate securities • brokers • financial crisis

OPINION

 'Cash for Clunkers' 
  Is a Car Wreck 


Jul 18, 09 5:20 PM CDT
(Newser) - The Cash for Clunkers program should never have left the lot, Michelle Singletary writes in the Washington Post. The premise is fine: Give people a financial incentive to trade in old gas guzzlers for new gas sippers. It's the details that smell like a lemon. "The law does... More »

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fuel efficiency • debt • auto industry • cars • Cash for Clunkers

More Americans Falling Behind on Loans

Balances surge on bank credit-cards as Americans struggle to pay bills

Jul 7, 09 4:21 PM CDT
(Newser) - Delinquencies on consumer and home-equity loans rose in the first quarter as unemployed Americans struggled to pay their bills, the Wall Street Journal reports. The number of borrowers at least 30 days late on their consumer loans, which include auto loans, rose slightly to 3.23% from the previous quarter.... More »

MORE ABOUT:
debt • unemployment • credit card • loan • consumer loan markets • home-equity loans • American Bankers Association • delinquency

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