July 22, 2014 The vote marked a major step in moving the city's bankruptcy forward. Retired police and firefighters overwhelmingly approved some cuts in their pensions.
June 12, 2014 The court agreed with a bankruptcy court's ruling that an inherited IRA represented "an opportunity for current consumption, not a fund of retirement savings."
The Detroit skyline as seen from Windsor, Ontario, across the Detroit River.
Rebecca Cook /Reuters/Landov
December 3, 2013 The largest municipal bankruptcy in U.S. history took a step forward Tuesday when a judge said the city can go forward with its Chapter 9 bankruptcy case. Now a manager will work to cut pension costs and make deals with creditors. Detroit is $18.5 billion in debt.
A portion of downtown Detroit along the Detroit river.
Bill Pugliano/Getty Images
July 19, 2013 The lights will remain on and city services should continue, says Michigan Gov. Rick Snyder. But the filing sets in motion what could be a years-long process to resolve the bankruptcy case.
Reader's Digest's parent company has filed for bankruptcy protection.
Justin Sullivan/Getty Images
February 18, 2013 The venerable magazine's parent company has filed for bankruptcy protection for the second time in less than four years. RDA Holding says it plans to emerge from Chapter 11 in less than six months. The magazine will continue to be published during the period.
Stock up now.
Scott Olson/Getty Images
November 16, 2012 Already in bankruptcy protection, the company has also been dealing with a nationwide strike. It says it can't go on. So 18,500 jobs are being eliminated. And some iconic taste treats may soon be scarce.
August 1, 2012 And he live-tweeted it. "Bought this back, just to give it away!"
The Northern Mariana Islands: white sand, blue water and huge pension liabilities.
June 5, 2012 A bankruptcy judge has ruled that the pension fund of a small U.S. territory is a "governmental unit" and therefore not eligible to file Chapter 11 bankruptcy.
The Northern Mariana Islands: white sand, blue water, and huge pension liabilities.
May 29, 2012 States have promised their employees sweet retirement benefits, but haven't set aside enough money. Now, one public pension fund has filed for bankruptcy.
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A rainbow over the sea in Saipan, Northern Mariana Islands.
Koichi Kamoshida /Getty Images
May 24, 2012 The public pension fund of a U.S. territory in the Pacific Ocean recently filed for bankruptcy. If the case is allowed to proceed, it could have major implications for retirees all across the U.S.
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February 2, 2012 The bankrupt airline wants a federal agency to assume responsibility for its pension promises.
American Airlines jets at Los Angeles International Airport.
Kevork Djansezian/Getty Images
February 1, 2012 The company, now in bankruptcy protection, would eliminate as many as 16 percent of its jobs. "But we will also preserve tens of thousands of jobs that would have been lost if we had not embarked on this path," CEO Tom Horton says.
A Twinkie shows off its creamy filling in this file photo from 2005. A snack-cake sales slump is one reason Hostess Brands is seeking protection from its creditors.
Tim Boyle/Getty Images
January 11, 2012 Twinkies maker Hostess Brands Inc., is again seeking protection from its creditors, blaming high debt and rising costs of labor and raw materials. Sales of Twinkies are down, despite its prime product placement in the 2009 film Zombieland.
December 9, 2011 On today's podcast, we try to answer the question — why do airlines keep going bankrupt?
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October 11, 2011 Lung cancer was associated with the highest risk of personal bankruptcy five years after diagnosis, researchers at Fred Hutchinson Cancer Center found. Smokers are more likely to be on a lower rung of the socioeconomic ladder.
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