Bankruptcy

10:47am

Fri February 21, 2014
The Salt

What Sbarro's Woes Say About Where We Get Our Fast Food Now

Originally published on Fri February 21, 2014 5:23 pm

Customers at a Sbarro in Chicago on April 4, 2011, the day that the company filed for Chapter 11 bankruptcy.
Scott Olson Getty Images

In 1985, Joe Sbarro declared that he had high hopes for his cafeteria-style pizza chain, founded in 1956.

"Sbarro's dream is to be another McDonald's," he told Newsday.

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11:26am

Thu August 29, 2013
Business

Judge Hints At Helping American Airlines Out Of Bankruptcy

Originally published on Thu August 29, 2013 12:41 pm

American Airlines aircraft sit on the tarmac at Miami International Airport last week.
Joe Raedle Getty Images

A U.S. bankruptcy judge on Thursday indicated that he's leaning in favor of a allowing American Airlines to emerge from bankruptcy, clearing a major obstacle to the carrier's planned merger with US Airways.

Judge Sean H. Lane said he is "finding the arguments in favor of confirmation fairly persuasive" to allow American, which filed for Chapter 11 in November 2011, to emerge from bankruptcy.

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2:41am

Wed August 21, 2013
Business

Kodak Reinvents Itself As Judge Approves Bankruptcy Exit

Originally published on Thu August 22, 2013 11:54 am

Guy Solimano Getty Images

U.S. Bankruptcy Judge Allan Gropper has approved Kodak's plan to emerge from court oversight. That paves the way for it to be a much smaller company focused on commercial and packaging printing.

The plan received the judge's approval on Tuesday, and the company hopes to put it into effect as soon as Sept. 3, reports Kate O'Connell of member station WXXI in Rochester, N.Y.

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3:40am

Sun July 28, 2013
National

Reinvigorating A Detroit Neighborhood, Block By Block

Originally published on Sun July 28, 2013 10:31 am

Woodward Avenue runs through Midtown, a Detroit neighborhood that is reviving in the midst of the larger city's decline. In the background is downtown Detroit.
Carlos Osorio AP

The debt-laden city of Detroit has been an incubator for new strategies in urban revitalization, including a downtown People Mover, casinos, urban farms, artist colonies and large scale down-sizing.

In the wake of the city's bankruptcy, many in the community are thinking small.

Just outside of downtown Detroit is a neighborhood called Midtown. Like many hip, urban neighborhoods, it's got hipsters on fixed geared bikes, yoga studios, boutiques for dogs.

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2:48pm

Mon July 22, 2013
The Two-Way

Detroit's Emergency Manager: 'There's Just No Money'

Originally published on Mon July 22, 2013 7:02 pm

State-appointed emergency manager Kevyn Orr (right) and Michigan Gov. Rick Snyder, at a Friday news conference in Detroit.
Carlos Osorio AP

Detroit's emergency manager, Kevyn Orr, defended his decision to take the city into bankruptcy. The most contentious issue regarding the city is what bankruptcy protection could mean for the pensions of some retired city workers.

In a blunt interview with All Things Considered's Robert Siegel, Orr said that saying retirees will receive no money is false.

"We're just talking about adjusting them to today's realities," said Orr.

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