source for article: New York Times, November 19, 2008
By JONATHAN D. GLATER
Harsh as it is, a bankruptcy filing has always offered a glimmer of hope for a business hobbled by debt or a downturn. A company could slim down, negotiate manageable payments to workers and suppliers and keep going, preserving jobs.
But the credit crisis […]
As banks and other syndicated lenders get cold feet about new deals, borrowers turn to nontraditional sources of capital-and face tougher loan terms
source for article: Business Week, September 18, 2008 by Ben Levisohn
With the credit crunch in full swing, companies big and small are having to scramble to find financing. The usual venues for loans […]
source for article: Fairfield County Business Journal, September 16, 2008,
by ALEXANDER SOULE
Despite the federal bailout of two massive mortgage companies, a Citizens Bank economist predicted that Fairfield County’s financial sector is only “halfway through this mess” as banks continue to write off underperforming loans.
Kent Gladding’s comments, delivered at a Connecticut Business and Industry Association […]
source for article: Wall Street Journal, September 16, 2008 by Simona Covel, Kelly K. Spors & Raymund Flandez
As Wall Street quaked Monday, small and midsize businesses prepared to feel the aftershocks in the form of tighter credit and tougher borrowing standards.
The financial crisis is the latest blow to small businesses, which have suffered through […]
source for article: Philly.com by Maria Panaritis, September 2, 2008
They are the trauma team of the business world. Their job: Stop the bleeding before the patient dies - or the bank calls your loan. And if your boss doesn’t have the chops to rescue your troubled company, they may just recommend a new one.
They […]
source for article: Fox Business.com, Thursday, August 14, 2008, by Elizabeth Wilson
With a credit crunch and many banks tightening up or eliminating lines of credit, it’s important for business owners to maintain a steady cash flow. Here are five ways experts say you can start the process:
Diversify your revenue stream. Relying too heavily on […]
As commerical loans become harder to find, small business owners give in to aggressive credit card marketers and get slammed with 30% interest rates
source for this article: Business Week, August 20, 2008 by John Tozzi
The 30% interest rate on their small business credit card shocked James and Heather Hills enough to stop using it entirely […]
Source: 8/18/08 Dow Jones Daily Bankruptcy Review
Credit ratings agencies said that the number of companies most at risk of defaulting on their debt has soared this summer as consumers cut spending and the credit crisis hammers troubled companies, Dow Jones Daily Bankruptcy Review reported yesterday. At the end of July, 63 companies carried the […]
Banks Keep Tightening the Vice
source for article: The Watch List Newsletter, August 2008, by Mark Heschmeyer
A large number of domestic lending institutions reported to the Federal Reserve Board that they have tightened their lending standards and terms on all major loan categories in the past three months.
In addition, a number said they expected to continue […]
source for article, The Philadelphia Inquirer, August 10, 2008 by Maria Panaritis
It illustrated the perils for businesses that borrowed heavily during boom times.
The whispers had been growing for weeks, if not months, and only intensified after the Boscov’s Department Store L.L.C. filed for bankruptcy protection last week.
This is just the beginning, the lawyers, investors […]
Source for article: Business Week, August 11, 2008 by Pallavi Gogoi
Changes in the law have sharply reduced retailers’ ability to reorganize, driving many to liquidate quickly
On Feb. 19 the electronic gizmo retailer Sharper Image filed for Chapter 11 bankruptcy protection. As part of its court filing, Sharper Image management committed to its lenders to […]
Source for Article: Business Week, August 1, 2008 by Ricky McRoskey
It’s hard to get traditional loans these days. But as banks tighten their purse strings, hedge funds are offering asset-based loans to small companies.
In early 2008, Jim Gee hit an impasse. Over the previous five years, Gee had been expanding Trinity Communications, a small […]
source for article: Reuters, July 31 by Emily Chasan
INTERVIEW-Weil Gotshal sees few sectors immune to bankruptcy
* Breadth of bankruptcy filings surprising
* Sharp uptick in distressed companies seen since June
* Years before troubles are resolved. No end in sight
NEW YORK, July 31 (Reuters) - The combination of a weak economy and tighter credit is roping more […]
source for article: Business Week, May 6, 2008 by John Tozzi
Tighter credit, rising commodity prices, and slipping sales aren’t slamming just Wall Street; now small businesses are getting hit
More businesses filed for bankruptcy in April, 2008, than in any month since new bankruptcy laws took effect in 2005, according to a company that tracks […]
source for article: Business Week, June 20, 2008 by John Tozzi
The year 2007 started well for for Jay Allen and his wife, Sarah Lee-Allen. The couple had earlier borrowed $850,000 from California Bank & Trust to buy Tucson-based Omega Wallbeds, a seven-employee custom wallbed maker. Sales were so brisk that the Allens were repaying […]
source for this article: New York Times, July 28, 2008
Banks struggling to recover from multibillion-dollar losses on real estate are curtailing loans to American businesses, depriving even healthy companies of money for expansion and hiring.
Two vital forms of credit used by companies - commercial and industrial loans from banks, and short-term “commercial paper” not […]
source for aricle: New York Times
Mervyn’s and the parent company of Bennigan’s both filed for bankruptcy protection yesterday, providing more evidence that the pace of corporate flame-outs is accelerating.
Only half way through 2008, billion-dollar bankruptcies are at their highest level in five years, according to BankruptcyData.com, which tracks bankruptcy filings. A total of seven […]
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