Bankruptcy Information

President Barack Obama welcomed a stronger than expected December unemployment report on Friday and urged Congress to extend a payroll tax cut until the end of 2012 to help the country’s economic recovery maintain momentum.

“We’re making progress. We’re moving in the right direction. And one of the reasons for this is the tax cut for working Americans that we put in place last year,” he said.

“When Congress returns they should extend the middle class tax cut for all of this year, to make sure we keep this recovery going,” he told workers at the Consumer Financial Protection Bureau to welcome its new director, Richard Cordray.

Obama appointed Cordray on Wednesday despite opposition from Republicans in the U.S. Senate.

Data earlier on Friday showed a 200,000 increase in December job creation that beat analyst expectations and helped bring the unemployment level down by a tenth of a percentage point to a still-historically high 8.5 percent.

The numbers are a boost for Obama as he seeks reelection in November. He must convi

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Tags: Cut, Payroll Tax, Payroll Tax Cut, Tax Cut

The long slow death march at Sears Holdings Corporation (NASDAQ: SHLD) is turning into a case study of what not do.  Putting a hedge fund manager in charge of a huge retailer, and then letting the company be run by another person for quite some time without deep retail experience.  Imagine if Wal-Mart Stores Inc. (NYSE: WMT) or Target Corporation began a long secular decline where the only way they could attract investors is by unloading assets here and there, shrinking their geographic footprints time after time, cutting workers endlessly, and by trying to just repurchase enough stock that the free float dwindles.  And imagine no real payments to shareholders in the form of dividends.

Fortunately for investors in retail stocks, Target and Wal-Mart are not Sears. We ju

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Tags: Shld, Shld Wmt

The current state of the economy has lead to U.S. cities filing for bankruptcy in order to deal with the debt and lack of revenue.

Bankruptcy analysts have stated that nearly 100 cities may be nearing this option. Two large cities, Birmingham, Alabama and Harrisburg, Pennsylvania have recently filed for bankruptcy.

A city in California, Vallejo, recently just emerged from bankruptcy. They still have some debt remaining, but are now equipped  to handle them better.

If you or someone you know is struggling with debt and are considering filing for bankruptcy, you need representation on your side that can discuss all of your options. Contact the Birmingham bankruptcy lawyer Paula Greenway by calling 205-324-4000 today.

Tags: Bankruptcy

Jan 4 The insolvency administrator of Manroland said on Wednesday it was homing in on an investor for the German printing machine maker and saw a deal feasible by the end of the month.

“We now have parties seriously interested in all three production sites in Augsburg, Offenbach and Plauen, with whom we are involved in ongoing negotiations,” Werner Schneider of law firm Schneider, Geiwitz & Partner said in a statement, without naming any possible buyers.

The firm said no orders had been cancelled and production would continue beyond Jan. 31 based on the current backlog.

Manroland filed for insolvency in late November after its owners Allianz Capital Partners and MAN SE failed to find an investor before the world’s No.3 printing machine maker ran out of money.

Manroland, with 6,600 employees and annual sales of close to 1 billion euros , competes with Heidelberger Druckmaschinen and Koenig & Bauer, as well as Japan’s Komori, Ryobi and Mitsubishi .

Tags: Deal Feasible, Feasible