Archive for the 'Collapse' Category
Green Shoots: Personal Bankruptcies Hit 4-Year High
October 5th, 2009Via: CNN: Mounting unemployment and housing crisis push the filings to the highest level since 2005. Personal bankruptcies topped the 1 million mark in the first nine months of the year, the first time it has done so in four years, according to an industry research firm released Friday. The personal bankruptcies were up 35% […]
“When You Own Gold You’re Fighting Every Central Bank in the World”
October 4th, 2009Jim Rickards:
Will California Become America’s First Failed State?
October 4th, 2009Via: Guardian: Los Angeles, 2009: California may be the eighth largest economy in the world, but its state staff are being paid in IOUs, unemployment is at its highest in 70 years, and teachers are on hunger strike. So what has gone so catastrophically wrong? California has a special place in the American psyche. It […]
Two Million Slum Children Die Every Year as India Booms
October 4th, 2009Via: Guardian: India’s growing status as an economic superpower is masking a failure to stem a shocking rate of infant deaths among its poorest people. Nearly two million children under five die every year in India – one every 15 seconds – the highest number anywhere in the world. More than half die in the […]
InkStop Abruptly Closed All 152 Retail Stores and Laid Off All Workers; No Final Paychecks
October 3rd, 2009Wow. Via: The Plain Dealer: InkStop Inc., a specialty retailer of ink, toner, consumer electronics and other supplies for small businesses and home offices, abruptly told its employees that it was shuttering all 152 stores nationwide as of Friday and laying off all workers until further notice. “The company has elected to temporarily close all […]
Banks Changed Hands, Records Lost, People Unable to Cash CDs
October 2nd, 2009A couple of cautionary tales for those of you who have CDs with banks that are changing names due to merger/collapse. Bank May Have Lost Grandma’s Money Phoenix resident Rosemarie Braunstein said Wells Fargo has refused to cash her certificate of deposit because it has lost her records. — Which Bank Owes Couple $400K? Paul […]
G.M. to Close Down Saturn Division
October 1st, 2009Via: New York Times: General Motors said Wednesday that it would shut down its Saturn division by next year after Roger Penske abruptly cut off talks to acquire the brand. The Penske Automotive Group said it could not proceed with the deal because another auto manufacturer, which it did not identify, said it would not […]
Fred Tries to Wake the Sheep
October 1st, 2009HA
Solar Panel Theft in California Wine Country
September 29th, 2009Collapse, California style. Via: NBC News: Wine Country is experiencing an unusual crime spree. The target of the thieves isn’t an expensive merlot or pinot, but something less fruity: solar panels. The latest hit happened at an undisclosed winery in Rutherford early Monday morning. The Napa County Sheriff’s Office says 25 solar panels worth $30,000 […]
North Carolina: Panhandling Permits
September 29th, 2009Via: WRAL: During the down economy, panhandling-related offenses are on the rise in Raleigh. So far this year, police have arrested 212 people on charges, such as panhandling without a permit, loitering and pedestrian interference. During the same time last year, 162 people had been arrested. Martin Sansalone said he knows how to panhandle within […]
