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The Struggle Continues For Bankrupt Shale Drillers
The Struggle Continues For Bankrupt Shale Drillers Remember the wave of bankruptcies that hit shale E&Ps and oilfield services providers in the shale patch between 2015 and 2017? Over those two years, more than 120 oil and gas producers filed for bankruptcy protection in the United States, figures from Haynes & Boone showed last year. […]
It’s Just Starting: Moody’s Warns A Deluge Of Retail Bankruptcies Is Coming
It’s Just Starting: Moody’s Warns A Deluge Of Retail Bankruptcies Is Coming 2017 was a perfect storm for “brick and mortar” retailers who officially lost the war with Amazon, and no less than 30 retail chains filed for bankruptcy in a year in which the CEO of Urban Outfitters said the “retail bubble has now […]
On borrowed time: America’s companies have binged on debt; a reckoning looms
On borrowed time: America’s companies have binged on debt; a reckoning looms The total debt of American non-financial corporations as a percentage of GDP has reached a record high of 73.3% AMERICA’s companies have been powering ahead for years. Amid growing profits, the recession that began in 2007 seems an increasingly distant memory. Yet the situation […]
Thousands More Stores Are on the 2018 Retail Apocalypse DEATH LIST: Are your local stores on the list?
Thousands More Stores Are on the 2018 Retail Apocalypse DEATH LIST: Are your local stores on the list? Every year, it seems like more and more retail outlets are going out of business, resulting in the loss of jobs and local supplies. Last year, hundreds of stores closed, and this year, even more shops are […]
Oil Market Fears: War, Default And Nuclear Weapons
Oil Market Fears: War, Default And Nuclear Weapons The U.S. is one of the few areas of the world in which there is an energy investment boom underway, a development that could smooth out the uncertainties of geopolitical events around the world. At the same time, outside of the U.S., there is a deterioration of […]
The Coming Banking Crisis & The End of Bailouts
The Coming Banking Crisis & The End of Bailouts Behind the curtain, there is a growing concern about a serious banking crisis beginning once again in Europe. Many governments are talking about the crisis behind-the-curtain and we are now beginning to see steps that are being taken to end the TO-BIG-TO-FAIL policies that dominated the […]
On Closer Inspection, Debt of Bankrupt Spanish Construction Firm Grows Four-Fold
On Closer Inspection, Debt of Bankrupt Spanish Construction Firm Grows Four-Fold What happens if cases like this prove to be the rule rather than the exception? Spain appears to have a brand-new Abengoa — the imploded energy giant whose fabulous accounting tricks pushed creditors into a black hole — on its hands: Isolux was until recently a […]
War Spending Will Bankrupt America
War Spending Will Bankrupt America “Why throw money at defense when everything is falling down around us? Do we need to spend more money on our military (about $600 billion this year) than the next seven countries combined? Do we need 1.4 million active military personnel and 850,000 reserves when the enemy at the moment — […]
Drastic Pension Cuts Will Hit California, Kentucky, Other States
Drastic Pension Cuts Will Hit California, Kentucky, Other States The CA Supreme Court will rule on pension cuts. Curiously, the court’s ruling will be irrelevant in case of bankruptcy. Please consider California’s Brown Raises Prospect Of Pension Cuts In Downturn. California Governor Jerry Brown said legal rulings may clear the way for making cuts to […]
The Time Has Come: Venezuela May Be In Default In Under 48 Hours
The Time Has Come: Venezuela May Be In Default In Under 48 Hours This past weekend, Venezuela failed to make $237 million in bond coupon payment, blaming “technical glitches” when in reality it simply did not have the money (or wish to part with it). Adding the $349 million in unpaid bond interest accumulated over […]
Hartford Could Default On Its Debt As Soon As Next Month, Moody’s Says
Hartford Could Default On Its Debt As Soon As Next Month, Moody’s Says Moody’s latest warning about Hartford Connecticut is its most dire yet. In a report issued Thursday, the ratings agency’s analysts said Hartford, Connecticut’s once-proud capital city, could default on its debt as soon as next month, forcing the capital of the country’s […]
Creditworthiness of New York and Illinois: One is Bankrupt
CREDITWORTHINESS OF NEW YORK AND ILLINOIS: ONE IS BANKRUPT Summary Unless used for capital improvements, any new Illinois State borrowing, regardless of security structure, will amount to nothing more than kicking the can further down the road. Markets remain open to uncreditworthy government borrows longer than they should. In a low interest rate environment, investors will […]
It’s Over for Sears Canada
It’s Over for Sears Canada Brick and mortar meltdown. Sears Canada hired the same leading bankruptcy advisory firm on June 12 that had represented Target Canada in its insolvency proceedings. Ten days later, it filed for bankruptcy protection to restructure its capital and its operations, shutter dozens of it 225 stores and lay off nearly […]
This Is What The Death Of A Nation Looks Like: Venezuela Prepares For 2,300% Hyperinflation
This Is What The Death Of A Nation Looks Like: Venezuela Prepares For 2,300% Hyperinflation Back in January 2016, we showed what the collapse of Venezuela looks like, when in addition to charting Venezuela’s imploding currency (which back then was trading at a positive expensive 941 bolivars to the dollar), we presented what at the […]
