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Major Freight Carrier Bankrupted, Leaving 3,000 Truckers Jobless, Many Stranded On Highways

Major Freight Carrier Bankrupted, Leaving 3,000 Truckers Jobless, Many Stranded On Highways As the manufacturing recession gains momentum, the largest U.S. truckload carrier filed for bankruptcy Monday morning, leaving 3,000 truck drivers and 500 administrative positions without a job two weeks before Christmas.  Indianapolis-based Celadon filed for voluntary Chapter 11 bankruptcy in the early hours […]

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You Can Kick The Can Down The Road, But Reality Will Catch Up With You Eventually

You Can Kick The Can Down The Road, But Reality Will Catch Up With You Eventually Nobody can defy the laws of economics forever.  Whether it is an individual, a company or the nation as a whole, reality always catches up with everyone eventually.  For years, I have been warning that Sears was eventually going […]

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Chap. 11 Bankruptcies Spike 107% from Year Ago

Chap. 11 Bankruptcies Spike 107% from Year Ago What caused the biggest jump since the Financial Crisis? New Chapter 11 bankruptcies in the US more than doubled in December 2017 from a year ago to 699 filings. That jump of 362 filings from December 2016 was the largest year-over-year jump since the Financial Crisis. This […]

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End Of An Era: Peabody Declares Bankruptcy

End Of An Era: Peabody Declares Bankruptcy In a sign of the times, the world’s largest private sector coal miner just went bankrupt. The St. Louis-based Peabody Energy Corp. warned a month ago that it was considering filing for Chapter 11 bankruptcy, and on Wednesday they made it official. Peabody’s mines will continue to operate uninterrupted […]

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“Nowhere To Hide” As Baltic ‘Fried’ Index Careens To Fresh Record Low

“Nowhere To Hide” As Baltic ‘Fried’ Index Careens To Fresh Record Low Another day, another fresh all-time record low in The Baltic Dry Index as Deutsche Bank’s “perfect storm” appears ever closer on the horizon. Plunging 4.7% overnight to 445 points, this is 20% lower than the previous record low in 1986 and as one strategist warns, “It’s […]

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Big Natural Gas Driller Bites Dust, ‘Smart Money’ Gets Crushed

Big Natural Gas Driller Bites Dust, ‘Smart Money’ Gets Crushed Natural gas driller Samson Resources is planning to file for Chapter 11 bankruptcy by August 15, when a $110 million interest payment comes due on $2.25 billion of senior unsecured junk bonds, Bloomberg reported, citing “two people with knowledge of the matter.” Samson doesn’t have the money, […]

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