http://www.freetalklive.com/taxonomy/term/5287/0 en http://www.freetalklive.com/content/state_set_takeover_detroit_city_government <p>Michigan Gov. Rick Snyder announced Friday that the state will take over the operations of Detroit's city government due to its long-standing financial problems. The takeover is short of a formal bankruptcy, but it will include appointing an emergency manager who would have many of the same powers as a bankruptcy judge. It could mean throwing out contracts with public employee unions and vendors that the city can't afford, and could lead to further cutbacks in already depleted city services.</p> http://www.freetalklive.com/content/state_set_takeover_detroit_city_government#comments bankruptcy detroit Incompetence Michigan News Article Sat, 02 Mar 2013 05:50:18 +0000 Cyphase 26523 at http://www.freetalklive.com http://www.freetalklive.com/content/reality_check_regarding_hostess_bankruptcy <p>Hostess has been sold at least three times since the 1980s, racking up debt and shedding profitable assets along the way with each successive merger. The company filed for bankruptcy in 2004, and again in 2011. Little thought was given to the line of products, which, frankly, began to seem a bit dated in the age of the gourmet cupcake.</p> <p><a href="http://www.freetalklive.com/content/reality_check_regarding_hostess_bankruptcy" target="_blank">read more</a></p> http://www.freetalklive.com/content/reality_check_regarding_hostess_bankruptcy#comments bankruptcy ceo Economics management News Article unions Mon, 19 Nov 2012 17:06:14 +0000 phonon 24546 at http://www.freetalklive.com