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24 Mar 2010 23:57

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Biz: A blockbuster level of debt for a Blockbuster video-rental firm

  • $1 billion in debt keeping it from
    taking on Netflix source

05 Mar 2010 21:46

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Biz: GM tried to get rid of many of its dealers, wasn’t successful

  • 1,100 number of dealers General Motors sent walking papers to last year
  • 661 dealers getting reinstated instead of going through arbitration source

16 Feb 2010 10:21

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Biz: General Growth’s name-defying bankruptcy nightmare almost over

  • $10 billion offer for the mall owner from Simon Property source

20 Jan 2010 02:02

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Biz: A shoutout to our friends at the bankrupt Morris Publishing Group

  • Our history Before we worked on ShortFormBlog, we worked at this great little publication called Bluffton Today (disclosure: we started this Wikipedia article), a pretty innovative small-town newspaper. The owner, Morris Publishing Group, has been very supportive of the idea, despite their recent financial struggles.
  • Their troubles Morris, another victim of the recession, had to file for Chapter 11 bankruptcy protection Tuesday. It’s a reorganization of debt – one that reportedly takes $278.5 million off the table – that they say will not affect their papers, employees or advertisers. They’d still remain on the hook for about $100 million in debt.
  • fingers crossed While it’s likely Morris will survive this change in their corporate standing mostly unscathed, we do worry about Morris missing opportunities to do innovative things like Bluffton Today – or with their larger publications in Jacksonville, Fla. or Augusta, Ga. We have our fingers crossed for them – and our friends. source

21 Dec 2009 10:56

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Biz: Dubai should really consider a debt-consolidation program

  • $40 billion in overcharging really big credit cards source

20 Dec 2009 11:11

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Biz: Saab dead, then Saab not dead, then Saab dead, then Saab not dead

  • The Swedish automaker has another lease on life. After GM announced that the company would be closed last week after talks with potential suitor Spyker fell through, Spyker said “not so fast” and submitted another deal. “Despite our collective 11th-hour set-back, we are returning to the table with a renewed offer,” said Spyker Chief Executive Victor Muller. Saab’s 3,400 employees must be pleased that they’re being taken on such a comfortable merry-go-round. source

01 Dec 2009 20:17

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Biz: We’d like to announce our candidacy for GM’s open CEO position

  • Dear rich people, we think we’d be a perfect fit for you. General Motors has had an incredibly rough last twelve months or so (though they’re recovering). Between a bankruptcy and a watchdog federal government, they’ve had zero room for error. And now their nine-month-old CEO, Frederick “Fritz” Henderson, is retiring. We smell a job opening! Here are three reasons GM should hire us as CEO:
  • Fresh bloodWe’re not the old guard, General Motors. We don’t do (#&@ the old way. In fact, we have no clue what the old way was! When we step into Fritz Henderson’s dusty old office (after having an exterminator go in and check for termites and bailout money), we plan on running the company as if we don’t know what we’re doing. But we do!
  • cars with brevity Here at ShortFormBlog, we know a thing or two about keeping things short and efficient. And we know that the government is on your back about creating more efficient cars. We plan on bringing our blogging technology to General Motors, and we’re going to upgrade the engines from internal combustion to WordPress. Thank us later, guys.
  • Family reunionWe know some of your old workers aren’t happy with you – all those layoffs, the concessions you forced the United Auto Workers to take, the outsourcing – and we plan to make it up to them, using the only method we know how – we’ll move them out of Michigan and put them in a state that isn’t a black hole of depression. Sound fair? source
 

26 Nov 2009 21:56

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U.S.: When not crashing state dinners, Tareq and Michaele Salahi getting sued

  • 16 lawsuits have been named against the D.C. socialites
  • one number of times the couple has filed for bankruptcy source

16 Nov 2009 09:57

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Biz, U.S.: General Motors has much less debt than it did before

  • General Motors, just before they came out of the other end of bankruptcy, had $94.7 billion in debt owed, source
  • After its first full quarter out of bankruptcy, GM had $17 billion in debt – $6.7 billion owed to the U.S. government. source

16 Nov 2009 09:51

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Biz: GM is looking a bit stronger after making it through bankruptcy

  • $1.15 billion amount in losses the auto manufacturer had as a result of their bankruptcy in July; they have $42.6 billion in cash on hand source