Articles
Emergency Manager: Detroit Won’t Pay $2.5B It Owes
(ROMULUS, Mich.) — A team led by a state-appointed emergency manager said Friday that Detroit is defaulting on about $2.5 billion in unsecured debt and is asking...
How Silicon Valley is Hollowing Out the Economy (And Stealing From You To Boot)
Jaron Lanier's latest book, Who Owns the Future?, begins by noting an instructive coincidence: The bankruptcy of the photography-giant Kodak occurred within...
Kodak to Pay Retired Workers in Film (And Other Adventures in Creative Pension Funding)
Kodak becomes the latest company to make a non-cash pension contribution. Can hard assets like cheese, whisky and beer really secure our retirement benefits?
How Does One Fake Tweet Cause a Stock Market Crash?
At 1:07 p.m. on Tuesday, the Twitter feed of the Associated Press told us that Barack Obama had been injured in an explosion at the White House. The tweet was...
Does Kmart’s Hilarious New Ad Acknowledge That Kmart Stores Are Hopeless?
In just over a week, Kmart's 30-second "Ship My Pants" spot -- go ahead, say it quickly -- has received close to 13 million views online. The viral hit should...
Photo Essays
A Brief History of the Greenbrier Resort
It's hosted celebrities, presidents and is home to a bunker where 1,000 government officials could survive a nuclear apocalypse. As West Virginia's Greenbrier...
Time.com Specials
Top 10 Iconic Junk Foods
As Hostess files for bankruptcy, TIME takes a look at the Twinkie and other American snack icons.
Top 10 Bankruptcies
With an estimated $89 million in assets before it filed for Chapter 11, General Motors has become the U.S.'s fourth largest bankruptcy, joining the ranks of...
Articles from Around the Web
Deal with some Detroit creditors could be a couple weeks away, Orr says
The deal is one of several Orr must strike in order to avoid a municipal bankruptcy filing. ...
Lowe's offers $ 205 million for Orchard Supply Hardware
OSH, which files for Chapter 11 bankruptcy protection, would continue to operate as a separate chain under the deal. Lowe's would gain a bigger presence in California. Home...
Lowe's aims to acquire Orchard Supply Hardware amid OSH bankruptcy
Orchard Supply Hardware is filing for Chapter 11 bankruptcy but already has a waiting rescuer - larger competitor Lowe's Companies Inc. ...
Chapter 9 bankruptcy: Answers to key questions
Detroit emergency manager Kevyn Orr said creditors that believe they can get a better deal in Chapter 9 bankruptcy court are sorely mistaken. ...
