Bankruptcies rise despite tougher law and recession
An AP analysis finds nearly 1.2 million debtors filed for bankruptcy in the last year amid the recession, despite the 2005 law tightening debt relief. Experts warn the rise reflects serious economic problems, with projections of 1.5 million cases this year and 1.6 million next year as recovery nears.
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U.S
Associated Press
Bryan Elliott
Hickory
Sane Sity
Illinois College of Law
Congress
Lynn LoPucki
Ucla Law
S&P Upgrades Ford Credit Rating Amid Restructuring Doubts
S&P raised Ford Motor Co ratings to CCC from SD citing a $9.9 billion debt swap cut automotive debt by 38 percent, but outlook remains negative amid restructuring fears. Analysts warn GM or Chrysler bankruptcies could raise Ford cash burn due to supplier disruption.
MENTIONED IN THIS ARTICLE
NEW York — Standard & Poor
Ford Motor Co
S&p
Ford
Robert Schulz
General Motors Corp
Chrysler LLC
Recession squeezes big law firms with layoffs in 2009
The recession hits the legal field as the nation's largest law firms lay off attorneys and delay hiring. More than 3,000 lawyers were laid off in the first three months of 2009, unemployment among lawyers rising to about 20,000. Firms delay final-year students and offer delayed start dates into 2010.
MENTIONED IN THIS ARTICLE
Washington
America
Samuel Smith
Charlotte
N.C
Smith
Cadwalader, Wickersham & Taft
Rateapartner
Labor Department
Lawshacks.com
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