| Thu, Jul 02, 2009 |
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Notable Bankruptcies Of 2009: Q2
In January I predicted (see Notable Bankruptcies of 2009: Q1) that “major” bankruptcies in 2009 would challenge the 383 mark set in 2001 (the high-water mark after the dotcom bubble). I even suggested that it was possible that we could exceed 400 “major” bankruptcies in 2009. According to Bankruptcydata.com, there have been 156 “major” filings thus far in 2009. Assuming that bankruptcies are equally distributed throughout the year, this puts us on pace for 312 bankruptcies. That is tracking well shy of my prediction. In fact, bankruptcies were down significantly from Q1 to Q2, as there were 90 bankruptcies in the first quarter but only 66 in the second. That stylized fact begs the question: Is that a “green shoot” [More...] |
| Wed, Jun 17, 2009 |
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The Top 12 Indicators That The Economy Is Still Bad
On a serious note, Eddie Bauer (Nasdaq:EBHI) has filed for Chapter 11 on Wednesday. The company is known for outdoor-like clothin. It is said that CCMP Capital Advisors LLC has bid $202 million in cash for its assets. Other buyers may also make bids while the company is under court protection.Bankruptcy rumors had been swirling as Bellevue, Wash.-based Eddie Bauer struggled with slumping sales amid the recession.This is probably still the beginning of the end for many speciality retailers and "non-necessity" purveyors. Consumer prices meanwhile rose less than expected in May and posted the steepest annual drop in 59 years, according to government data also released Wednesday, fresh evidence that the recession is keeping inflation in check. The bad news here is that deflationary-forces are still prevalent, and if prices are not rising that's a sure sign that demand is waning. [More...] |
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Eddie Bauer Files For Bankruptcy
Eddie Bauer, which emerged from bankruptcy as a standalone company in 2005 after former owner Spiegel had filed for chapter 11 protection, has just filed for bankruptcy again, the latest casualty of the real "green shoots free" consumer "spending" landscape. Clothing retailer Eddie Bauer Holdings Inc. filed on Wednesday for Chapter 11 bankruptcy court protection, the latest retail casualty of the recession. It said CCMP Capital Advisors LLC has bid for its assets. Other buyers may also make bids while the company is under court protection. The company said in its filing that it is seeking court protection because its financial position was creating uncertainty among vendors that supply its inventory and because its cash flow problems "could severely impede" its operations. Eddie Bauer said it might not be able to comply with some covenants in [More...] |
| Wed, Jun 10, 2009 |
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Investment News Briefs: US Consumer Confidence, Crude Oil, Wachovia
GM Names Post-Bankruptcy Chairman; Eddie Bauer Going Bust?; Consumer Confidence Climbs; U.S. Bankruptcy Filings Soar; Wells Fargo Lags On Applying for TARP Repayment; Crude Oil Tops $70
Edward E. Whitacre Jr., who built AT&T Inc. (T) into the largest U.S. provider of telephone services, will become chairman of General Motors Corp. when ...
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| Thu, May 07, 2009 |
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News Briefs: Ford To Make Greener Cars, $2 Billion “Low” Valuation For Skype, Crude Oil Moves Up
Ford Invests in Smaller, Greener Cars; Payroll Cuts Better Than Expected; Saab Open to Fiat Takeover; Canada’s March Building Permits Surge; eBay CEO: Skype Worth More Than $2 Billion; Hertz Wants to Lease 20% of Fleet From Car Companies; Crude Tops $56; Eddie Bauer in Play
Ford Motor Co. (F) said it yesterday ...
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