Word: bankrupted
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
They've got good reason to be nervous. With sales running at less than 10 million units annually - the lowest level in more than three decades - there is still a mountain of inventory sitting with dealers around the U.S. despite deep cuts in production, not only by the bankrupt General Motors Corp. and Chrysler Group LLC, but also by companies such as Toyota, Ford and Nissan. (See the 50 worst cars of all time...
...past few months, many established arts groups have folded, with many more on the skids. The Master Chorale of Washington performed its final concert on May 17 after 43 years. The Baltimore Opera went bankrupt after a six-decade run. The Las Vegas Art Museum shuttered in late February after 59 years. And the Milwaukee Shakespeare Theatre Company disbanded last October after nine years. "Shocking" is how former marketing director Kristin Godfrey described her reaction when she learned the troupe had to be shut down. As a result of plummeting investments at the Argosy Foundation - which sponsored two-thirds...
...face of such serious challenges, would Six Flags respond by rolling out an ad campaign featuring a widely mocked character that the company's own chairman once said is "misguided" and "weakens the brand"? Why, just when the stakes are at an all-time high, is a bankrupt company putting that creepy dancing old guy back on our TVs? (See the best and worst Super Bowl commercials...
...Canada's economy suddenly cratering? Many in Canada blame the U.S., the country's biggest trading partner, whose bankrupt car companies have thrown a wrench into the domestic automotive industry. At the same time, continued contraction of the U.S. economy means energy exports are suffering. (Canada is the biggest supplier of foreign oil to the U.S. economy, ahead of Saudi Arabia and Venezuela.) Year-over-year energy exports tanked 54%, to $4.8 billion, for the month of May, and automotive exports fell 38%, to $2.67 billion. Total year-over-year exports declined 33%, to $25.3 billion...
...long can Detroit sustain itself when monthly sales numbers are this bad? The two bankrupt companies, Chrysler and General Motors, closed their assembly lines for much of May and June, which reduces their revenue substantially. Chrysler started up this week but will close again next week for summer changeovers. Both GM and Chrysler have built their recovery plans on very low sales estimates, which is the principal reason they have closed so many factories and discarded so many employees as they restructure. GM just announced plans to shed another 4,000 salaried employees by October, at which point it expects...