Bankruptcies Suddenly Soar Across Corporate America, Worst First Quarter Since 2009

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Bankruptcies Suddenly Soar Across Corporate America, Worst First Quarter Since 2009
Different Boat Offer Upgrade User ID: 34251871 United States 05/01/2015 08:36 PM Report Abusive Post Report Copyright Violation	Bankruptcies Suddenly Soar Across Corporate America, Worst First Quarter Since 2009 by Wolf Richter • April 16, 2015 In the first quarter, 26 publicly traded corporations filed for bankruptcy, up from 11 at the same time last year, Reuters reported. Six of these companies listed assets of over $1 billion, the most since Financial-Crisis year 2009. In total, they listed $34 billion in assets, the second highest for a first quarter since before the financial crisis, behind only the record $102 billion in 2009. The largest bankruptcy was the casino operating company of Caesars Entertainment that has been unprofitable for five years. It’s among the zombies of Corporate America, kept moving with new money from investors that had been driven to near insanity by the Fed’s six-plus years of interest rate repression. Next in line were Doral Financial, security services outfit Altegrity, RadioShack, and Allied Nevada Gold. The first oil-and-gas company showed up in sixth place, Quicksilver Resources [Investors Crushed as US Natural Gas Drillers Blow Up]. Among the largest 15 sinners on the list, based on Bankruptcydata.com, are six oil-and-gas related companies. But mostly in the lower half. So far, larger energy companies are still hanging on by their teeth. [link to wolfstreet.com] [link to thecovidworld.com (secure)]

Different Boat (OP) User ID: 34251871 United States 05/01/2015 08:56 PM Report Abusive Post Report Copyright Violation	Re: Bankruptcies Suddenly Soar Across Corporate America, Worst First Quarter Since 2009 NO SOURCE BUT KITCO FORUM....Thread: Another 2008/2009 crash around the corner New York state manufacturing activity slows in April: NY Fed Manufacturing activity growth in New York State unexpectedly contracted in April, weakening for a third straight month as the pace of new orders fell to a multi-year low, a New York Federal Reserve survey showed on Wednesday. The New York Fed's Empire State general business conditions index fell to -1.19 in April from March's 6.90. This was the first negative read for the index since December. Economists polled by Reuters had expected the index to rise to 7.0 this month. A reading above zero indicates expansion. The new orders index weakened from -2.39 in March to -6.0. April's read was the lowest for the index since January 2013. Prices paid rose from 12.37 to 19.15, the highest level for the index since September. The pace of growth in employment weakened sharply, with the index for the number of employees dropping to 9.57 from 18.56, which had been the strongest since May 2014. The index of business conditions six months ahead rose to 37.06 from 30.72 in March. The survey of manufacturing plants in the state is one of the earliest monthly guideposts to U.S. factory conditions. Last Edited by 2/3s of 2/3s on 05/01/2015 08:57 PM [link to thecovidworld.com (secure)]
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