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Bankruptcy

“Painter of Light” Goes Bust

Arts, Culture & Media

When I came across the work of the painter Thomas Kinkade, almost a decade ago, I was fascinated and appalled. As you know if you listen to the show, I’m really not a snob — I loved The Hangover, for instance, and don’t really get opera. But the popularity of Kinkade’s ultra-treacly landscape paintings, produced […]

A woman walks past a currency exchange store with an Argentine national flag on display in Buenos Aires' financial district on August 14, 2014

How a New York court got to dictate terms to a entire country

Finance
The World

Rating vs. Resume: Can Bad Credit Kill Your Job Prospects?

Business, Economics and Jobs
Fernando Palazuelo

This Spanish developer helped rebuild Lima and now he’s betting big on remaking Detroit

Business, Economics and Jobs
The word 'Bankruptcy' is seen painted on the side of a vacant building by street artists as a statement on the financial affairs of the city on Grand River Avenue in Detroit.

Detroit’s bankruptcy bogs down when European banks dig in their heels

Business, Economics and Jobs
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Detroit’s bankruptcy filing may imperil art museum collection

Arts, Culture & Media

When Detroit filed for bankruptcy, it started a process to reduce its debt load. Often this involves surrendering assets to creditors. In the case of Detroit, perhaps the most valuable asset is the collection of the Detroit Institute of Arts. It will be up to the court to determine if creditors have rights to the pieces.

Stockton, Cal., to become the largest city to file for bankruptcy in America

Business, Economics and Jobs

The city of Stockton, Cal., is facing a $26 million budget deficit amid rising crime and foreclosure rates. Unable to reach an agreement with its creditors, the city has voted to file for bankruptcy, in what will be the largest city bankruptcy filing in U.S. history.

Bankruptcy 101

Business, Economics and Jobs

Congress is currently debating the possibility of bankruptcy reform, but does this legal insulation meant to protect the American worker still function in this economic climate?

Detroit Bankruptcy Puts Pensions on the Chopping Block

Detroit pensions may now be on the chopping block. Money that was supposed to materialize disappeared into thin air–in the lead up to Detroit’s filing for bankruptcy last week, a big hole was revealed in the city’s pension fund. Kevyn Orr, the city’s emergency manager, found $3.5 billion in liabilities in the pension budget. Prior […]

On the Brink of Insolvency: A Roadmap to Turning a City Around

Detroit, a city that was once the fifth largest in America, might be hitting a breaking point: City and state officials say it may be on the brink of insolvency.   If the city files for bankruptcy it would be the largest municipal bankruptcy in US history with a rated debt price-tag of $8.2 billion. In […]

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