Tag Archives: Bankrupt

Labor Unions’ Idea of “Fair Share”

Detroit’s labor unions want their fair share from the bankrupt city of Detroit: an extra month’s pension check every year. This policy of redistributing people’s wealth started in 1985 and was stopped in 2008 after costing taxpayers an additional $1.92 … Continue reading

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ERIC SPROTT: THE DETROIT TEMPLATE

Economist and Boston University Professor Laurence Kotlikoff calculates that to fully eliminate the shortfall in Social Security funding, the government would need to either cut all present and future social security benefits by 22%, or increase the Federal Insurance Contributions … Continue reading

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41% in Bankrupt Stockton Don’t Speak English at Home; 21% Can’t Speak It Very Well

In Stockton, Calif., which has just entered into Chapter 9 bankruptcy, 41 percent of the people do not speak English at home and 21 percent cannot speak it very well, according to the U.S. Census Bureau. Data that the Census Bureau … Continue reading

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List Released With 132 Names Who Pulled Cyprus Deposits Ahead Of “Confiscation Day”

With every passing day, it becomes clearer and clearer the Cyprus deposit confiscation “news” was the most unsurprising outcome for the nation’s financial system and was known by virtually everyone on the ground days and weeks in advance: first it was disclosed … Continue reading

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GM CEO HEADS TO CAPITOL HILL AS BAILOUT SETTLEMENT TALKS FALL APART

General Motors CEO Daniel Akerson plans to roll up to Capitol Hill Thursday in a flashy new Corvette Stingray less than 24 hours after settlement talks fell apart in a lawsuit that could cost GM at least $1 billion–and add … Continue reading

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Detroit To Be Taken Over By The State – Zerohedge

Detroit Mayor Dave Bing says he spoke by phone with Michigan Governor Rick Snyder today. He says the governor will announce his decision regarding the possible appointment of an Emergency Financial Manager for the city of Detroit on Friday. The mayor … Continue reading

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Illinois conservatives call for massive pension reform in wake of Democratic failure

Another example of Democrat greed and ignorance coming out of Illinois. The Illinois’ public pension system is almost $100 billion in debt. Union/state pensions are killing the economy and stealing from people who work in the private (real) sector. As … Continue reading

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Califiornia dairies going broke due to feed, milk prices

Across California, the nation’s largest dairy state, dozens of dairy operators large and small have filed for bankruptcy in recent months and many teeter on the edge of insolvency. Others have sold their herds or sent them to slaughter and … Continue reading

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UPDATE: PNSN Sells ‘Assets’ Including Segregated Funds

UPDATE 5/30-1100EDT: PNSN now trading at 0.20/share with no volume to speak of. FORM 8k Filing 29-May-2012 – Entry into a Material Definitive Agreement, Costs Associated with Exit… On May 28, 2012, Penson Financial Services, Inc. (“PFSI”), the U.S. broker-dealer subsidiary … Continue reading

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Another Green Energy Company Bankrupt – Cost to Taxpayers Is $118.5 Million

Ener1 is the latest Obama endorsed Green Energy company to file for bankruptcy protection. The cost to taxpayers is $118.5 million and the company needs an “infusion” of $81 million to restructure. Obama mentioned this partnership in his state of … Continue reading

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