Taking bits and pieces of the Statue of Liberty's body and selling them on the open market turned out not to be a successful business model for one southern company, reports The Wall Street Journal.
Gold Leaf Corp, from Tennessee, which decided it would be a good idea to sell scrap metal salvaged from the world-famous monument, is going bankrupt.
An astonishing ten percent of national bank consumers switched from one bank to another financial institution, reports The Los Angeles Times. This number speaks to the effectiveness of the bank switching movement.
The reason behind the bank switching movement has mostly to do with bank fees. It used to be that the primary reason people switched banks was because of personal reasons; but the fees are the main reason now.
One big push in the switching movement was the "Bank Transfer Day" which took place last November.
Fuller Brush Co., which is well known for the Fuller Brush Man as it is a door-to-door seller, is going bankrupt, reports The Atlanta Journal-Constitution.
The company, more than one hundred years old, has about 180 employees. Its assets are about $10 million and its debts about $50 million.
Fuller Brush, which started purely as a door-to-door seller, later began selling personal care and household products through retailers such as Byerly's and Home Depot. It was bought by private equity firm Buckingham Capital Partners (only in America would a royally named company buy a cleaning products company).
Atlantans often find themselves getting in over their heads when it comes to debt. And that’s when the collectors come.
Creditors are aggressively attempting to collect from people who have fallen behind on their payments. When creditors cannot connect with people, they often will pursue other means to collect money owed to them. Eventually, creditors will step up their recovery efforts by taking legal action.
One of the most aggressive tactics creditors can use is wage garnishment. In fact, those readers that follow this blog may remember that NBA star Allen Iverson had his wages garnished by a local creditor, as reported by FindLaw’s Atlanta Bankruptcy Law News.
A major credit rating company, Equifax, just announced that American credit card debt statistics are improving a little, reports the Atlanta Business Journal. In fact, about 60 out of the top 100 metropolitan areas saw declines in percentage of income owed to credit card companies.
However, the company was quick to warn that while total consumer debt in the USA has declined from $12.4 trillion in October 2008, citizens still owe more than $800 billion just on credit card debts.
Avoiding debt is one of the best ways to prepare for a secure financial future. Many consumers, though, risk financial freedom by falling into credit card debt.
Bankruptcy blogs can get depressing, particularly during a recession in which Atlanta has suffered greatly. But now there is some good news on tap.
It turns out that the construction powerhouse, Caterpillar, is going to be bringing 1,400 jobs just a short drive from Atlanta, reports The Atlanta Journal-Constitution.
Of course, Caterpillar in Georgia only happened because the company stands to benefit from the arrangement, too. It has received $77m in incentives, reports Atlanta Business Journal.
Friendly’s, the diner known for its ice cream shakes, recently emerged from bankruptcy, only to lose its CEO, reports the Boston Globe.
Harsha V. Agadi is expected to resign just a month after the business emerged from the Chapter 11 Bankruptcy it had previously entered as noted by FindLaw’s Atlanta Bankruptcy Law News. Agadi had joined the company in August 2010. The bankruptcy, a reorganization, was tough for the chain, as it had to shut down about a hundred restaurants. It also had to lay off about two thousand workers. It emerged from bankruptcy due to an affiliate of Sun Capital.
T-Boz, the former member of the hit group TLC, does not seem to be as successful in declaring bankruptcies. It turns out that T-Boz’s third bankruptcy attempt was tossed by Judge James R. Sacca of the U.S. Bankruptcy Court, reports the Wall Street Journal.
The kind of bankruptcy she had for is called a Chapter 13 Bankruptcy, as previously reported by FindLaw’s Atlanta Bankruptcy Law News. During a Chapter 13 bankruptcy, you will be required to make a structured repayment plan that shows how you will use your income to pay off your debts over time, typically three to five years.
This blog has an affection for ironic bankruptcies, like when The Money Tree said it didn't have any more money.
Now to add a second entry to this slowly growing series.
It turns out that the proverbial Empire State of the South, the tallest skyscraper in the Southern United States, namely Bank of America plaza, was foreclosed on, reports the Atlanta Journal-Constitution.
It would seem that Gary Busey reached his “Point Break.”
The Hollywood actor Gary Busey has played a variety of characters over his career, and gone through a variety of issues and personal turmoil, too. Now, Busey can add a Chapter 7 Bankruptcy to the things he will be known for, reports the Huffington Post.
Gary Busey’s bankruptcy is worth about $500,000, according to court records, while his assets are less than $50,000. The bankruptcy was filed in Los Angeles. The paperwork shows more than a dozen potential creditors.
According to a survey of major metro areas, Atlanta was last in job creation last year, reports the Atlanta Biz Journal.
Based upon numbers gained from the U.S. Bureau of Labor Statistics for the nation’s 100 biggest metro areas, Atlanta ranked 100th, with 5,100 private-sector jobs lost in 2011. In other words, Atlanta’s job creation rank can only get better.
The biggest gainer, meanwhile, was Texas, specifically Houston and Dallas Fort-Worth.
The Oscars, as (some) Hollywood aficionados may be aware, are held at Kodak Theater. But what happens when Kodak, the iconic photography company, is undergoing bankruptcy, as discussed by FindLaw’s Phoenix Bankruptcy Law News?
Well, it turns out that, the Oscars might not, after all, be at Kodak Theater this year. This is because Eastman Kodak Co. has petitioned a U.S. Bankruptcy Court to have the Kodak moniker removed from the Oscars venue, reports Variety.
Allen Iverson, the one-time NBA’s Most Valuable Player, who had a very tough end to his career, just got legally hammered by an Atlanta jeweler over some old bling, reports the Atlanta Journal-Constitution.
Aydin and Company Jewelers just gained access to Iverson’s Wells Fargo account in an attempt to recoup the hundreds of thousands Iverson still owed on the jewelry that he had purchased in 2008 and 2009. Allen Iverson’s jewelry included diamond bracelets, a diamond watch, and a ring.
