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Economics News

Economics News continually updated from thousands of sources around the net.

1 hr ago | Detroit News

Tesla plans to raise up to $1.08B while repaying U.S.

Tesla Motors Inc., the electric-car maker run by Elon Musk, increased the size of its equity and debt offerings by 30 percent to as much as $1.08 billion to repay its U.S. loan and build up cash reserves.

Comment?

Related Topix: Tesla Motors, Startups, US Politics, US News, Republican, US House of Representatives, Darrell Issa, Bankruptcy, 9, John Thune, US Senate

5 hrs ago | Reuters

Clearwire investors aim to force Sprint to sweeten bid

Stocks continued their climb into uncharted territory on Friday, racking up the fourth week of gains in a row as encouraging economic data prompted investors to pick up shares of growth companies.

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Related Topix: Bankruptcy

Fri May 17, 2013

Poker News

The Atlantic Club Lawsuit: Pokerstars Risks More than Monopoly Money

An expert on the American gaming scene, Maurice "Mac" VerStandig is well-versed in casino management from common issues of fraud and theft prevention to the Unlawful Internet Gambling Enforcement Act and Indian Gaming Regulatory Act .

Comment?

Related Topix: Bankruptcy, Games, Card Game, Blackjack, Poker

AGBeat

Calm down, "zero down loans" isn't a cuss word

Zero down loans are on the rebound on a small scale, but is it really such a horrible thing for the housing sector? The term "Zero Down Loan" is almost guaranteed to induce an immediate negative response in any one hearing the term.

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Related Topix: Home, Mortgage, Personal Finance, Bankruptcy, Opinion

AutoWeek

Famous course brings in $80 million annuallya

The Nurburgring racetrack in Germany is officially up for sale this week. The sale of the 12.8-mile, 154-turn track includes the salaries of 300 employees, but not the $515-million debt that caused the 'Ring's bankruptcy.

Comment?

Related Topix: Bankruptcy, Autos

ConsumerAffairs.Com

Starting over after bankruptcy

Mark Huffman has been a consumer news reporter for ConsumerAffairs since 2004. He covers real estate, gas prices and the economy and has reported extensively on negative-option sales.

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Related Topix: Bankruptcy

The New York Times

DealBook: Investor Aiming for the Top, Again

On Wall Street, the wheel of fortune can spin around and around, from enormous cash bonuses and luxurious perks one year to the unemployment line the next.

Comment?

Related Topix: Bankruptcy, Manhattan, NY, New York, NY

Thu May 16, 2013

Denver Post

Former Delta CEO says insider tips were to be confidential and unused

Admitted illegal inside trader Michael Van Gilder broke a promise not to act on information that billionaire Kirk Kerkorian was about to buy into Delta Petroleum, its former CEO says in court papers.

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Related Topix: Delta Petroleum, Energy, Oil & Gas, Bankruptcy, Securities and Exchange Commission, Corporate / Securities Law, Law, US Securities and Exchange Commission, Financial Services

Philly.com

NJ: Boost slot $ or Revel will struggle to survive

A New Jersey casino regulator says Revel needs to increase the amount of money it wins at slot machines or it will struggle to survive.

Comment?

Related Topix: Bankruptcy

Patch.com

WISN: New Golden Guernsey's Owner Share Plans for the Future

Patch media partners WISN 12 News spoke to the CEO of the Illinois company that bought the bankrupt Golden Guernsey .

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Related Topix: Lifeway Foods, Food, Bankruptcy, Morton Grove, IL

MarketWatch

Outside the Box: How less-powerful nations can face new world order

For nations without a large domestic economy, adequate resources and a need for new markets, a retreat from global integration poses challenges.

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Bloomberg

Citigroup and Lehman Settle Dispute Over Currency Trades

Citigroup Inc. can be granted a $1.2 billion claim against Lehman Brothers Holdings Inc.'s defunct brokerage and will pay an affiliate of the Lehman parent $167 million to settle a dispute over amounts owed on foreign-exchange transactions, a judge ruled.

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Related Topix: Investment Banking, Lehman Brothers, Financial Services, Banking, Citigroup, CitiMortgage, Bankruptcy, US News

Philly.com

Camden County to bid on country club

Camden County will bid on the Woodcrest Country Club in an effort to preserve the bankrupt Cherry Hill golf course as open space when the property is sold at auction Monday.

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Related Topix: Cherry Hill, NJ, Bankruptcy

Wed May 15, 2013

Mississippi Business Journal

Defunct casino to be moved; cost could rise depending on a cruda

By late August, Vicksburg's downtown City Front will be without a floating casino for the first time since 1993 if the winning bidder at an auction April 25 for the former Grand Station Casino follows through on a bankruptcy court-ordered sale of the vessel.

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Related Topix: Vicksburg, MS, Bankruptcy

The Modesto Bee

Who wants to be Detroit mayor? 22 candidates do

Detroit's next mayor will inherit a city low on cash and an office low on power, yet nearly two dozen candidates are seeking the job anyway.

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Related Topix: Detroit, MI, Bankruptcy, Medicine, Detroit Medical Center, Hospital Administration, Healthcare Industry, Rick Snyder, US Governors

RTE.ie

US court allows NAMA questioning in Dunne case

A US court has given permission for a representative from the National Asset Management Agency to be questioned about the affairs of Irish developer Sean Dunne.

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Related Topix: Bankruptcy

MarketWatch

Al Lewis: Southwest CEO says all you need is LUV

Unlike every other major carrier, it has never filed bankruptcy. It has never sacked employees with layoffs, furloughs or pay cuts.

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Related Topix: Bankruptcy, Transportation, Airlines, Southwest Airlines, University of Denver

The Intelligencer

PBGC Objects To Ormet Sale

Citing retirement plans that are underfunded by "over $235 million," the federal Pension Benefit Guaranty Corp.

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Related Topix: Pension Benefit Guaranty, Insurance, Bankruptcy, Pension, Personal Finance

Hollywood Reporter

New David Bergstein Lawsuit References Secret Recordings, Sidney Lumet and the FBI

David Bergstein 's latest legal salvo against Aramid Entertainment's David Molner reads like the script of a thriller: Secretly taped phone calls, the promise of a role in a Sidney Lumet movie and a self-confessed secret government agent and an FBI probe of Bergstein.

Comment?

Related Topix: Best of 2007, Bankruptcy

Tue May 14, 2013

Reuters

UPDATE 1-Bankrupt Alabama county has deal on $105 mln of bonds

As Alabama's Jefferson County readies a workout proposal for its landmark $4.2 billion bankruptcy, officials on Tuesday announced an agreement with creditors JPMorgan Chase and Bayerische Landesbank covering $105 million of defaulted debt.

Comment?

Related Topix: Bankruptcy, Alabama, Banking, JP Morgan Chase

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