Bankruptcy filings and the ripple effect
Seemingly every day, the news is filled with another story about a bankruptcy filing, or a development in a major bankruptcy case. Just in the last 4 months of 2008, companies such as Lehman Brothers and Tribune Company have filed Chapter 11 bankruptcies. Not to mention Merrill Lynch and AIG, each of which presumably would have filed but for government bailouts. The jury is still out for the Big 3 auto makers but the only question appears to be whether there will be bankruptcies or a large loan from taxpayers.
In addition, retailers, manufacturers, and service companies of all shapes and sizes have entered Chapter 11. The ripple effect leads to more filings. Other notable bankruptcies filed during the past 6 months include:
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