http://www.bizbankruptcy.com Just another WordPress weblog Sun, 21 Dec 2008 19:54:51 +0000 http://backend.userland.com/rss092 en Chapter 11 is a chapter of the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to any business, whether organized as a corporation or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. ... http://www.bizbankruptcy.com/?p=16 Federal bankruptcy laws govern how companies go out of business or recover from crippling debt. A bankrupt company, the “debtor,” might use Chapter 11 of the Bankruptcy Code to “reorganize” its business and try to become profitable again. Management continues to run the day-to-day business operations but all significant business ... http://www.bizbankruptcy.com/?p=15 The Bush administration is looking at “orderly” bankruptcy as a possible way to deal with the desperately ailing U.S. auto industry, the White House said Thursday as carmakers readied more plant closings and a half million new jobless claims underscored the deteriorating national economy. With General Motors, Chrysler and the ... http://www.bizbankruptcy.com/?p=14 Congressional Democrats don’t want to bail out GM, Ford and Chrysler: they want to bail out the United Auto Workers union. Speaker Pelosi spoke for all the Democrats when she rejects the idea of reorganization of the companies under bankruptcy protections. Why? Because bankruptcy is the only legal mechanism which ... http://www.bizbankruptcy.com/?p=13 Delphi Corp edged closer to bankruptcy Friday as neither the United Auto Workers union nor General Motors Corp appeared willing to bail out the struggling parts supplier, which is seeking drastic cuts in pay and benefits from workers. Reports circulated on Wall Street that a bankruptcy filing could come as ... http://www.bizbankruptcy.com/?p=12 This year, in bargaining for a new UAW-GM National Agreement, GM again approached us seeking further reductions in your retiree medical benefits. We have spent several months in difficult and complex bargaining with GM on this subject. From the beginning we refused GM’s demands for benefit reductions. GM argued they ... http://www.bizbankruptcy.com/?p=11 This Agreement shall not be subject to abrogation, modification or rejection without the mutual consent of the UAW, GM and Delphi (with the exception of bilateral agreements of the UAW and GM that do not affect Delphi such as Paragraphs 1 and 5a.-d., f., and g. obligations, which may be ... http://www.bizbankruptcy.com/?p=10 The UAW believes that our bankruptcy system is broken, and urgently needs to be reformed to stop these types of abuses. Congress enacted Sections 113 and 1114 of the Bankruptcy Code to stop companies from using the bankruptcy process as a device to destroy collective-bargaining agreements and retiree benefits. These ... http://www.bizbankruptcy.com/?p=9 Welcome to the Biz Bankruptcy business information site. Our goal is to provide you with more than just a source of relevant business information, but to do so in the form of an entertaining “Electronic Textual Collage” of seeming random but relevant information found throughout the Internet and the “Blog-O-Sphere“. Unlike most ... http://www.bizbankruptcy.com/?p=5 Information Collected by Biz Bankruptcy : Biz Bankruptcy tracks visitors to our site and collects information such as the IP address of a user’s computer and the type of browser used. Additionally, we may collect the information provide by visitors via our information request forms or place a “cookie” on ... http://www.bizbankruptcy.com/?p=6