NEWINGTON – When he took a $198,000 deposit for a pair of robotic arms he never delivered, the president of Integrated Robotics was in default of a $600,000 loan, being sued by his former landlord, had $2 million in debt and paid himself $125,000 before declaring bankruptcy, according to a Superior Court lawsuit.Integrated Robotics president Christopher Andrews is being sued by a former business .. more …
Some are calling it a harbinger of better times for the forest industry.Others consider the first Madillbranded log loader to come off a production line in nearly three years a shot in the arm for a 63-year-old Greater Victoria manufacturing company.Regardless of the perspective, that first $500,000 log loader sitting in the yard of Nicholson Manufacturing awaiting transport to an Oregon operation .. more …
Glendale officials insist it’s time to end the debate over a$197 million incentive package the city is offering to a Chicagoinvestor who wants to buy the Phoenix Coyotes and keep thestruggling hockey team playing at the Jobing.com arena.The deal that has been proposed is legal, they say.The taxpayersare protected.There are iron-clad guarantees the team will not be moved, evenif it goes into .. more …
Boise County has made national news – economically and geographically.A story on the county’s bankruptcy filing appeared in Thursday’s Wall Street Journal. The filing was a result of the county’s inability to pay a multi-million dollar court judgment.A county declaring bankruptcy could be expected to make national headlines. What wasn’t expected was the Journal’s headline: “Bankruptcy for Iowa .. more …
Those people who are taking into account their particular options with regards to handling their financial problems likely have a lot of concerns concerning the road ahead and necessitate guidance from a bankruptcy trustee Montreal with regards to the best way to progress with their personal recovery strategy. Although some Montreal locals may well take into account bankruptcy to be a worthwhile .. more …
Phoenix Coyotes buyer Matthew Hulsizer is willing to guarantee $100 million in revenues to Glendale to try to seal his deal with the city on a lease at Jobing.com Arena. The Goldwater Institute, a Valley watchdog opposed to the deal, isn’t convinced. Goldwater Institute rejects Phoenix Coyotes offer Buyer’s offer Goldwater President Darcy Olsen on Monday dismissed Hulsizer’s guarantee.”The offer .. more …
Politicizing churches is a bad idea for lots of reasons. Not only it is illegal for non-profit organizations to endorse or oppose candidates, it also can divide congregations and lead to other types of problems.Exhibit A is Cornerstone World Outreach, a church in Sioux City, Iowa. Last year, Cornerstone Pastor Cary K. Gordon decided to use his house of worship to launch an effort to recall three .. more …
Tuesday, March 22 is a pivotal day for New Brunswickers with the release of both the federal and provincial budgets at a time in our history when debt, deficits and a still-struggling world economy are top of mind.We meet New Brunswick Finance Minister Blaine Higgs at his constituency office in Quispamsis where an austere decor bespeaks a man who is all business. One would not expect anything .. more …
The Suffolk County Legislature in New York State on Wednesday passed a measure that will allow Suffolk County Off-Track Betting Corporation to declare bankruptcy, but the company remains in discussions about whether it will elect to seek the protection of bankruptcy court, according to a spokesperson.The legislature passed the measure unanimously, and Suffolk County Executive Steve Levy signed the .. more …
There was no stink of death at the doomed Borders stores Wednesday. No empty shelves or “Everything Must Go” signs.Despite the news that the mega-bookseller was declaring bankruptcy and closing 200 stores, including 12 in the Bay Area, shoppers at Borders stores in San Jose, Los Gatos, Santa Cruz and San Mateo, which are scheduled to close by the end of April, seemed oblivious to the fact that .. more …
ORLANDO, Fla. ” During his 25 years as a boat builder, Tim Parker had done everything right financially: contributing to his 401(k) retirement plan, paying off his mortgage and credit-card debt, living on a tight budget and saving money for a rainy day. Then, unexpectedly, he was unemployed, working part-time jobs to make ends meet, and finally going back to school to prepare for a new career. “I .. more …
Dragged down by a $76.7 million loss from its racing operations, MI Developments, the parent company of Santa Anita Park, Gulfstream Park, and other racing assets, lost $52 million in 2010, according to financial statements released by the company late on Thursday. The 2010 result maintains a string of staggering losses for the racing properties, which were deeded to MI Developments on April 30, .. more …
Reading, Pa., was once so well off that it had a Monopoly card named after it: Reading Railroad.But the city has fallen on tough times. Every year, the people who run Reading struggle to come up with millions of dollars to patch holes in the budget.A few years back, the city sold a whole lake. The county paid $4 million for it. But the budget holes persisted. In 2009, Reading needed to come up .. more …
Poor Microsoft ( MSFT ). Its pioneering days are long past and its sharp-elbowed strategy of zooming ahead of smaller rivals (Lotus, Netscape, RealNetworks) by developing copy-cat products (Excel, Explorer, Windows Media) hasn’t kept it on top of the world in recent years. In Internet search and mobile-phone software, the company has been relegated to also-ran status, behind Google ( GOOG ) and .. more …
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