bankruptcy

Hostess Fights To Give Execs 'Liquidation' Bonuses

Hostess Fights To Give Execs 'Liquidation' Bonuses

Hostess Brands Inc., the maker of the iconic Twinkies snack cake, will square off in a bankruptcy court on Monday against an agent of the U.S. Justice Department, who says the wind-down plan is too generous to management. The U.S. Trustee, an agent of the U.S. Department of Justice who oversees bankruptcy... Read More »

Hostess, Twinkie Maker, Is Closing -- 18,500 Workers Will Lose Jobs

Hostess, Twinkie Maker, Is Closing -- 18,500 Workers Will Lose Jobs

By Tanya Agrawal Hostess Brands Inc, the bankrupt maker of Twinkies and Wonder Bread, said it had sought court permission to close and go out of business after failing to get wage and benefit cuts from thousands of its striking bakery workers. Hostess said a national strike by members of the Bakery,... Read More »

Bankrupt American Airlines Plans To Hire 1,500 Workers

Bankrupt American Airlines Plans To Hire 1,500 Workers

By Samantha Bomkamp NEW YORK -- Wanted: A few good recruits for an airline that's seen better days. To replace some of its departing staff, American Airlines will hire 1,500 flight attendants starting next month, with training beginning in January. Read More »

American Airlines Flight Attendant Risks Dismissal For Mocking Own Airline

American Airlines Flight Attendant Risks Dismissal For Mocking Own Airline

As with so many mature industries in the U.S., it hasn't been easy being an airline employee in recent years. Industry consolidation, layoffs, the rising cost of air travel, and service cutbacks have hampered profits and taken a toll on employee morale. The latest of those is American Airlines, whose parent,... Read More »

American Airlines Aims To Cut 13,000 Jobs Amid Bankruptcy

American Airlines Aims To Cut 13,000 Jobs Amid Bankruptcy

By David Koenig DALLAS -- The parent of American Airlines wants to eliminate about 13,000 jobs -- 15 percent of its workforce -- as the nation's third-biggest airline remakes itself under bankruptcy protection. The company aims to cut labor costs by 20 percent under bankruptcy protection, and will soon begin... Read More »

Groupon Deal Pushes Bakery To Brink of Bankruptcy

Groupon Deal Pushes Bakery To Brink of Bankruptcy

"Twelve Cupcakes with a Choice of Flavours and Designs for £6.50 from Need a Cake. Value £26." That is what Rachel Brown, 50, posted to Groupon UK, an international branch of the daily deals giant, in the hope of attracting new customers to her online-order bakery. Selling her hand-designed... Read More »

Growing Number Of College Graduates Filing For Bankruptcy

Growing Number Of College Graduates Filing For Bankruptcy

A growing number of college graduates are filing for bankruptcy, suggesting that an advanced education is no longer the hedge it once used to be in preventing personal financial turmoil, a new report finds. The percentage of college graduates filing for personal bankruptcy rose 20 percent during the last... Read More »

The New Face of Bankruptcy: Public Employees

The New Face of Bankruptcy: Public Employees

There was a time not so long ago when, if you worked for the government, you could depend on a steady paycheck and decent retirement -- you might not lead a lavish lifestyle, but you could keep a roof over your family's head, put shoes on their feet and food on the table. None of those things are givens any... Read More »

Job Searching After Bankruptcy

Job Searching After Bankruptcy

Unfortunately, bankruptcy has proved a necessary evil for many Americans during the recession. While no one wants to file for bankruptcy, an increasing number of individuals and families have found themselves with no other means of absolving their debts. In fact, during the period between June 2008 and June... Read More »

New Look Helps Marilyn Kleinberg Bounce Back from Bankruptcy

New Look Helps Marilyn Kleinberg Bounce Back from Bankruptcy

Bankruptcy. It's an ugly word that most people won't even whisper, let alone declare. But New Jersey businesswoman Marilyn Kleinberg saw no other options. In declaring both personal and business bankruptcy, she lost her home, her inheritance, everything... except her integrity. "My parents instilled in me... Read More »

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