Randy Michaels, Chief Executive of the Tribune Company, is trying to steer the company out of bankruptcy so he can help remake it, according to the Wall Street Journal.
Michaels, who has been the CEO of the 163-year-old media company for seven months, is trying to rethink the ailing conglomerate.
In 2007, the company went private, but [...]

Bankruptcy filings for restaurants and other businesses are not uncommon in an economic downturn. However, the recent filing by the owner of a several Boca Raton, Florida, restaurants one interesting detail: a close association with a billion dollar Ponzi scheme that rocked the Florida community.
Anthony Bova, the owner of the restaurants Bova Cucina and Bova [...]

General Motors bought the luxurious Cadillac brand all the way back in 1909. According to Bloomberg, now, in an era when bankruptcy of all kinds are rampant and the new GM operates in the shadow of a $50 billion bankruptcy backed by the U.S. government, Cadillac is attempting to edge away from the stigma of [...]

The news for the casino industry has not been good during the recession, as one after another faces bankruptcy. But now there is hope, as one major Las Vegas casino company, Tropicana Entertainment, emerges from bankruptcy looking to go on a lucky streak.
Tropicana Entertainment will emerge from the bankruptcy after filing two years with a [...]

After the U.S. government used hundreds of billions of taxpayer dollars to bail out various financial firms that failed because of poor investment decisions in 2007, outcry has come from legislators and citizens alike.
Now, according to Reuters, the Senate is considering a bill that would change the way financial firms are regulated when in economic [...]

Asia’s top airline has filed for court-led restructuring with the Tokyo District Court, the Wall Street Journal reports.
In light of this bankruptcy filing, Japan Airlines will seek to turn its unprofitable operation around with an injection of capital from a turnaround agency, the Enterprise Turnaround Initiative Corp. of Japan.
As a part of the restructuring, Japan [...]

It has been some time since a U.S. airline sought bankruptcy protection—more than a year—despite the difficulties that the industry has gone through. That trend was broken early last week when Mesa Air Group Inc. filed Chapter 11 bankruptcy, CNN Money reports.
Mesa Air, which operates regional flights on behalf of United Airlines, Delta Airlines and [...]