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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: debt

debt stories: 104 news summaries

21 - 40 of 104 Stories | << Prev 1 2 3 4 5 6 Next >>

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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 »

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

(Newser) - As recently as 2007, Michael Jackson had a net worth of $236.6 million, the AP reports. But his finances weren’t that simple. Most of his $567.6 million in assets were tied up in property and rights—he had just $668,215 in cash—and his debt totaled... More »

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entertainment • business • debt • accountants • Beatles • Michael Jackson • Neverland Ranch • assets • net worth • Sony/ATV • music publishing

(Newser) - Some 50 US cities are so strapped for money that they're ditching their July 4th fireworks displays, reports the Los Angeles Times. "It came down to this: Did we want to spend $150,000 on something that would be over in a few hours?" asked the mayor of a... More »

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Ohio • Massachusetts • debt • fireworks • cities • Fourth of July • fiscal crisis • government debt

 Jacko Leaves Pile of Debt 

Could have recouped losses with comeback

Jun 26, 09 10:00 AM CDT
(Newser) - Michael Jackson died deep in debt, Reuters reports: Wall Street Journal sources put the figure at $500 million earlier this month. The entertainer and his managers had hoped a planned concert series this summer would refill his coffers. Still, Jackson’s copyrights to his songs and his stake in the... More »

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entertainment • debt • copyright • death • Michael Jackson • assets

$134B Bond Fraud May Be Mob Handiwork

US, Italian authorities blame organized crime for huge counterfeiting

Jun 19, 09 8:18 AM CDT
(Newser) - The counterfeit bonds with a face value of $134 billion seized near the Swiss border are probably the work of the Mafia, say Italian and American secret services. The mystery surrounding the suitcase stuffed with fake US Treasury bonds deepened yesterday, after a blog revealed that police had released the... More »

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Italy • Switzerland • counterfeit • debt • Mafia • bonds • Sicilian mafia • counterfeiters • Treasury bills

$134B in Bonds Seized in Italy 'Clearly Fake'

US debt office tells conspiracy theorists
to calm down

Jun 18, 09 8:16 AM CDT
(Newser) - Conspiracy theorists, take note: The US bonds seized near the Swiss border with a face value of $134 billion "are clearly fakes," a Washington spokesman tells Bloomberg. Most securities are now issued electronically, only about $105 billion in bonds have yet to be surrendered, and the "Kennedy... More »

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Italy • Switzerland • debt • bonds • counterfeiters • smuggling • Treasury note

OPINION

$134B Suitcase Could Be Huge Smuggling Scam

Italy arrests men with enough US bonds to buy a few countries

Jun 17, 09 8:40 AM CDT
(Newser) - Last week, Italian authorities detained two Japanese men attempting to cross the border into Switzerland carrying a suitcase stuffed with $134 billion in US bonds. The men are either massive counterfeiters or—even scarier—the fourth-largest creditors of the US Treasury, with enough cash to buy three or four countries.... More »

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Ben Bernanke • Italy • Switzerland • debt • bonds • US dollar • counterfeiters • Treasury bills • Timothy Geithner • smuggling • Treasury note

Credit Card Firms Cut Deals With Delinquents

Newly relaxed policies allow firms to settle
for portion of debt

Jun 16, 09 8:25 AM CDT
(Newser) - With countless customers running behind on payments, credit card companies are taking it easy on delinquents, letting them off the hook in exchange for partial repayments, the New York Times reports. The firms began easing up on their previous policies last fall, experts say; now they’re letting frontline workers... More »

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bankruptcy • debt • unemployment • credit card • HSBC • settlement • payments • banks • credit card accounts • delinquency

(Newser) - Theme park operator Six Flags has declared bankruptcy, Bloomberg reports. The company has not had a profitable year since 1998 and is burdened with $2.4 billion in debt. Six Flags underwent a wide-ranging reorganization starting in 2005 when Washington Redskins owner Daniel Snyder became chairman. The company, whose 20... More »

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Washington Redskins • debt • amusement parks • theme park • Daniel Snyder • Six Flags • bankruptcy protection • obligations

(Newser) - The bankrupt Tribune Company could emerge from protection with its top creditors—and not chairman Sam Zell—in charge, the Chicago Tribune reports. Zell exerts control based on $90 million he spent to secure the option of buying 40% of the company for $500 million, and a $250 million loan.... More »

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media • Sam Zell • Tribune Company • Citigroup • bankruptcy • debt • JPMorgan Chase • Chicago Tribune • newspaper industry • creditor • lenders



 Cities Saddled 
 With the Most 
 Credit Card Debt 

Florida, California have credit problem, Forbes shows

Jun 2, 09 2:41 PM CDT
(Newser) - The recession has many Americans tightening their belts, but some just can’t seem to put away the plastic. Forbes checked in with Equifax and compiled a list of the country's most credit card-happy cities. Conclusion? Florida might have a problem.
  1. Miami: Average household credit card debt: $9,
... More »

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Florida • California • list • debt • credit card • consumer debt • consumer credit

 GM Bondholders OK 
 Debt-for-Equity Plan in Vote 

Vote paves way to bankruptcy filing tomorrow morning

May 31, 09 9:08 AM CDT
(Newser) - GM bondholders voted yesterday to forgive $27 million in debt for equity in the restructured automaker, the Wall Street Journal reports. The move opens the door for a bankruptcy filing tomorrow morning, the New York Times notes. The Treasury Department was in charge of deciding whether enough bondholders backed the... More »

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bankruptcy • General Motors • debt • equity • auto industry • bondholder

(Newser) - General Motors will file for bankruptcy protection Monday, insiders tell Bloomberg. The company has apparently decided that it cannot make the government-mandated June 1 deadline to shed $44 billion in debt. The timeline is unclear, but bondholders' agreement today to forgive debts in exchange for a stake in the “... More »

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Chrysler • General Motors • debt • recession • Treasury Department • Chevrolet • auto industry • Cadillac • bankruptcy protection • bondholder

(Newser) - Wall Street and Washington financial gurus may be seeing “green shoots” of economic recovery, but small businesses are still stuck in the mud, Kevin Kelly writes in Newsweek. Kelly, the CEO of a bag manufacturing company, says too many colleagues' businesses are losing sales, laying off workers, or shutting... More »

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debt • recession • recovery • investment • small business • economy • Jay-ZTV

(Newser) - The Treasury Department struck a deal with Chrysler’s creditors last night to avoid what had looked like a probable bankruptcy, the Washington Post reports. The creditors, a disparate group of 45 financial firms, agreed to write down all but $2 billion of the $6.9 billion Chrysler owes... More »

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Chrysler • bankruptcy • debt • auto industry

 GM to Cut 21K US Factory Jobs 

Firm restructuring in bid for more government aid

Apr 27, 09 8:53 AM CDT
(AP) - General Motors will cut 21,000 US factory jobs by next year, phase out its Pontiac brand, and ask the government to take company stock in exchange for half of GM's government debt as part of a major restructuring effort needed to get more government aid, the firm said today.... More »

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United Auto Workers • General Motors • bond trading • debt • recession • stock • restructuring • job cuts • government loans

GM Seeks Ways Around $1B Debt Payment

Automaker will swap
for equity or seek
court protection

Apr 22, 09 1:03 PM CDT
(Newser) - General Motors won’t make a $1 billion payment on its debt June 1, an exec told the Wall Street Journal today, and will instead try to swap it for stake in the company—or turn to courts for protection. “They want us to be a viable entity when... More »

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General Motors • debt • equity • Ray Young • Obama administration • bankruptcy protection

 As Biz Fizzles, 
 UK Pubs Hit Last Call 

Cash-strapped Brits hit up supermarkets for cheaper booze

Apr 16, 09 8:16 AM CDT
(Newser) - A proud British tradition is going down the drain as debt squeezes the two chains that own one-third of UK pubs, the Wall Street Journal reports. Instead of heading to their local establishments, many British drinkers pick up booze with their groceries for about half the price they'd pay at... More »

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United Kingdom • debt • pubs • bars • financial crisis • chain

 Shopping Mall Giant 
 Goes Bankrupt 

Second-largest U.S. mall owner can't refinance billions in debt

Apr 16, 09 7:08 AM CDT
(Newser) - Chicago-based General Growth Properties, the second-largest US shopping mall owner, filed for Chapter 11 bankruptcy today after attempts to refinance more than $27 billion in debt failed, Bloomberg reports. The owner of more than 200 shopping malls owes a unit of Germany’s Commerzbank $2.6 billion, while bondholders are... More »

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bankruptcy • debt • bonds • mall • Standard and Poor • Chapter 11 • Commerzbank

(Newser) - As internal bank moratoriums on foreclosure imposed last year expire, many more Americans are losing their homes, the Wall Street Journal reports. Foreclosure proceedings were up 6% in February over January, and up 30% from March 2008. Just as the Obama administration's rescue plan kicks in, delinquents who don’... More »

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real estate • foreclosure • debt • recession • moratorium • homeowners • mortgage lender

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