Has Bankruptcy Become a Certainty for U.S. Auto Giants?

Posted on April 2, 2009

If this week’s events are any indication, it may no longer be a question as to whether General Motors Corp. and Chrysler, LLC. will file bankruptcy, but rather when and how long that bankruptcy will last. On Monday, the Obama Administration forced ou Continue reading →

AIG

Posted on March 20, 2009

Count me amongst the people that were shocked by the AIG bonuses that came to light earlier this week. Having practiced in corporate bankruptcy for the past several years, it never fails to surprise me that so many struggling companies make large “bonus” payments to their executives, Continue reading →

Pennsylvania Wage Attachment Law

Posted on February 11, 2009

The logic behind Pennsylvania’s arcane wage attachment law escapes me. I cannot figure out why the Commonwealth wants to protect debtors at the expense of legitimate creditors. What are the drawbacks to adopting more liberal wage attachment laws? Who does it hurt? The vast majority of people Continue reading →

Business Climate Resigned or Resolved?

Posted on January 8, 2009

Seems like the economic news is still bad every day, but most people appear resigned or resolved. Many people believe the worst is not here yet, but we are close. How you approach the daily news is a question of attitude. With “resignation” (as in, “there ain’t nothin& Continue reading →

Bankruptcy COULD Help the Big Three

Posted on December 1, 2008

(Submitted to the Post-Gazette in response to a recent article) First the disclaimer: I am a bankruptcy and creditors’ rights lawyer. I generally represent vendors, lenders and creditors. I have also helped a few companies reorganize in Chapter 11 bankruptcy. People (media and otherw Continue reading →

What Does Detroit Need to Do Now?

Posted on November 23, 2008

Just What is going to happen with Detroit bankruptcies? I’m pretty confused about what Washington is doing/has done with the $700 billion and how that relates to the automakers. Let call them the OEMs (original equipment manufacturers). The OEMs claim they need help from the government or Continue reading →

News from the CLLA Fall Meeting November 2008

Posted on November 16, 2008

The New York CLLA meeting is always busy. This year, there was a buzz of excitement relating to a few areas. First, everyone was taking about how the economy affects them. For a group of collection and bankruptcy professionals, it was interesting to hear the dichotomy. Pure collection folks (e Continue reading →

So we’re In a Recession. Really?

Posted on November 1, 2008

I loved all the discussion this week about whether we were in a recession. Any of us in the credit, collections and bankruptcy world know we’ve been in a recession for months. Whether the economists can agree on what the definition of what “is” is or not, things have been tigh Continue reading →

Getting P.A.I.D. is Critically Important

Posted on October 28, 2008

Okay, it’s a shameless plug for the book (Get P.A.I.D. a Guide to Getting Paid Faster) and the system, but it is also a reminder of how important it is for businesses to pay attention to their credit extension, monitoring and collections when things are tight. One might think it is beneficia Continue reading →

Credit Easing?

Posted on October 25, 2008

I suppose the lowering of LIBOR is an indication to some that credit is easing, at least on Fleet Street! Most of the “main street” businesses probably don’t feel that yet. Not sure if that is a measure of credit that will filter down anytime soon. LIBOR is the London Inter B Continue reading →

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