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UPDATE 1-Pierre Foods files for Chapter 11 bankruptcy
"As a result of rising raw material prices experienced throughout our industry, it is necessary for Pierre Foods to create a capital structure more appropriate for both our operations and the current marketplace," Chief Executive Norbert Woodhams said in a statement.
For the current marketplace, what could be more appropriate than bankruptcy?
Steve & Barry's Files Bankruptcy, Another Blow to Mall Landlords
In the announcement press release, Steve & Barry's said it has "performed very well" in terms of sales, and blamed the Chapter 11 filing on a "liquidity shortfall as a result of credit market volatility and general economic conditions."
The more you sell the more you save.
Jim Palmer Trucking to file Chapter 11 bankruptcy
The Associated Press quoted lawyers for Jim Palmer Trucking as saying a poor economy and high fuel prices have left the company as much as $2 million behind in repaying loans and other debts. The president of the 44-year-old company says he’s just looking for a little “breathing room” and fully intends to continue operating.
Let's just hope everyone doesn't gasp for air at the same time.
Wyo Ethanol parent files for bankruptcy
In a prepared statement to stockholders, Thomas stressed that despite the financial difficulties, the company’s existing business continues to grow and has seen annualized sales volume growth of over 60 percent since year’s end.
That's fantastic news for the stockholders no doubt.
How To Collect From Deadbeats
"Especially in this economy, don't wait 120 days to get help if a debtor has been non-communicative, bounced checks or made several broken promises of payment," says Hartleb. "The debtor could be looking at filing some kind of insolvency and you don't want them to go bankrupt before you get paid."
Especially in this economy? What's that supposed to mean? I thought this was supposed to be the Goldilocks era.
Real Estate Newsletter Articles this Week: Existing-Home Sales Increased to
4.15 million SAAR in November
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At the Calculated Risk Real Estate Newsletter this week:
[image: Existing Home Sales]*Click on graph for larger image.*
• NAR: Existing-Home Sales Increase...
11 hours ago
4 comments:
I wish I could credit the commenter at Calculated Risk who coined "Goldilocks Depression!"
David,
That's okay. It is the greatest (depression) story never told.
I thought it was the misery era, we're not quit there but were in hot pursuit
U.S. `Misery Index' Climbs to 15-Year High on Prices
The June unemployment rate held at 5.5 percent after soaring the most in two decades in May from April's 5 percent.
The Misery Index peaked in June 1980, when the jobless rate reached 7.6 percent and consumer prices rose 14.4 percent.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aHXJY.fS72Ss&refer=home
I'm still looking for that dollar colapse Mark, the more these clowns in CONgress and the FED do the worse this is going to get.
Kevin
Kevin,
I'm bullish on the misery index. At the very least we have the potential to be much more "miserable" than the Great Depression. High unemployment was offset by high deflation then. I doubt we get so "lucky" this time.
I'm still looking for that dollar colapse Mark, the more these clowns in CONgress and the FED do the worse this is going to get.
Tack on a dotcom style negative real interest ERATE and you end up with...
CON-FED-ERATE
http://dictionary.reference.com/search?db=dictionary&q=confederate
an accomplice, esp. in a mischievous or criminal act.
Perfect. Using hindsight and/or common sense, 1% interest rates back in 2004 were certainly mischievous at the very least.
There's something to be said for hoarding canned goods even as the price of oil falls (no idea where it will head next, I'm rather neutral).
I'm CONfident that Chile CON carne is a relative bargain. When in Rome, do unto the Romans as they would do unto us (might be mixing a few sayings there ;)).
Meanwhile, as I extrapolate today's stock market rally into the distant future, a thousand years from now we'll all be rich beyond even our wildest imaginations (at the very least!!).
Welcome to the AtTheVeryLeastInvestorsBoughtRocksAndWhoCouldBlameThem economy.
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