From the Right Side of Campus

Tag: bankrupt

Shocker: Chrysler Won’t Repay Bailout Money

There goes that cash… straight down the money pit. But, hey, what’s $7 Billion among friends. Especially nowadays: Chrysler LLC will not repay U.S. taxpayers more than $7 billion in bailout money it received earlier this year and as part of its bankruptcy filing. This revelation was buried within Chrysler’s bankruptcy filings last week and confirmed by the Obama administration Tuesday. The filings included a list of business assumptions from one of the company’s key financial advisors in the bankruptcy case. Now, a pessimist might say that the bailout money has gone down the black hole that these failing companies

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Philly Newspapers File for Bankruptcy

Not long after reports that the Philadelphia Inquirer and Daily News were seeking a bailout from our beloved spendaholic Dem Governor Ed Rendell we now hear that the papers are filing for Bankruptcy: Philadelphia Newspapers L.L.C., which owns The Inquirer, the Philadelphia Daily News, and Philly.com, filed for bankruptcy protection today in a bid to restructure its $390 million in debt load. The company, bought by a group of Philadelphia-area investors for $562 million in 2006, said the voluntary Chapter 11 filing would not interrupt its daily operations. “This restructuring is focused solely on our debt, not our operations,” chief

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Massive Bailout Madness!!!

In case you missed the first go round we now have the pleasure of a take two which shall be appropriately named: Massive Bailout Madness!!! Who are the stars of this sequel you ask? Well I’ll tell you… First off, like any quality sequel, there is always one returning star. For this production that returning star happens to be AIG. The insurance giant wants billions more on top of the billions they received in Bailout Madness take one. But, like any sequel worth destroying a country over, this sequel includes a few big name newcomers. There is American Express who

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