Bankruptcy

9:02am

Thu August 2, 2012
The Two-Way

San Bernardino Files For Chapter 9 Bankruptcy Protection, Owes $1 Billion

Originally published on Thu August 2, 2012 10:39 am

San Bernardino City Hall.
City of San Bernardino

The financial morass that San Bernardino, Calif., plunged into last month widened on Wednesday, when city officials filed an emergency request for bankruptcy protection with a federal bankruptcy court. The city's estimated liabilities are greater than a billion dollars.

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12:47am

Thu May 24, 2012
Planet Money

Bankrupt In Paradise

Originally published on Fri May 25, 2012 7:05 am

A rainbow over the sea in Saipan, Northern Mariana Islands.
Koichi Kamoshida Getty Images

The Northern Mariana Islands are about 4,000 miles west of Hawaii. They look like the kind of tropical islands you see in the movies with bright blue water and white sand beaches.

The people who live on the islands are American. The Commonwealth of the Northern Mariana Islands is a U.S. territory. And just like a lot of U.S. states, the commonwealth has a pension plan for its government employees.

Sixto Igisomar used to run it.

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6:52am

Mon May 21, 2012
Health

Patients Go Bankrupt As Medical Costs Soar

Kimberly Fague filed for bankruptcy after an illness took its toll. The Colorado woman racked up $15,000 in costs that her government health insurance didn’t cover.
Carol McKinley Colorado Public News

In 2008, Kimberly Fague was diagnosed with organ failure. Plagued by nausea, she lost a third of her body weight. She suffered from confusion and constant fatigue. Her liver and surrounding organs swelled to the point that she developed a hernia.

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3:39pm

Mon April 23, 2012
Business

Bankrupt American Airlines Spars With Unions

Originally published on Mon April 23, 2012 6:24 pm

American Airlines and American Eagle employees protest Monday in New York City against American's plans to cut jobs and labor costs while under bankruptcy court protection. American is seeking permission to break up union contracts and cut expenses, but the unions oppose those plans and support a potential takeover bid by US Airways.
Spencer Platt Getty Images

With US Airways breathing down its neck, making nice with its unions as well as its creditors, American Airlines came to New York City on Monday to ask a federal bankruptcy judge for relief. Mostly, American wants relief from its unions — 13,000 jobs would be eliminated under its reorganization proposal. American has been hemorrhaging money for years and wants to lower its costs to compete.

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2:08pm

Fri March 23, 2012
Planet Money

Trying To Save A Broke City

David Unkovic makes his case.
Christine Baker The Patriot-News

This is the second of two stories we're doing today about Harrisburg. Read the first story here.

Harrisburg is broke.

The Pennsylvania city is deep in debt. It's still spending more than it takes in. And, as David Unkovic described it to me last week, there's a cash-flow problem.

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