Posts tagged with Bankruptcy

Borders: another victim of the internet?

Bricks and mortar may not be dead, but another high-profile offline retailer filed for bankruptcy yesterday.

Borders, one of the largest book retailers in the United States, simply didn't have enough money to survive in its current form. So it's going into Chapter 11 bankruptcy and will emerge a lot leaner, and perhaps a bit smarter.

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How not to be the GM of your industry

Yesterday, United States President Barack Obama told American automaker GM what most of us have known for at least the past several months: right now, the beleaguered automaker is in no shape to stay in business.

GM's CEO Rick Wagoner stepped down at the request of the Obama administration and the company has little time to prove to the US government that it can right the ship or it will not be given the additional government aid it can't survive without.

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