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Hostess Brands will start selling off its assets in a bankruptcy court in New York Monday. That prospect has struck fear in the hearts of lovers of Twinkies, Ding Dongs and Ho Hos. Sensing a possible shortage, some hopeful entrepreneurs took to eBay offering up many Hostess items at some exorbitant prices.
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The bizarre tale includes a do-gooder who skipped town, an epically mismanaged incinerator, and possible criminal behavior.
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The city of Harrisburg, Pa is $1.5 billion in debt. The man who once was in charge of the saving the city explains how it went so wrong and why it's so hard to fix it.
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American is currently seeking to cut costs in bankruptcy protection so the flight attendants' union pushed hard for this vote — warning that rejecting the contract could mean even deeper cuts or furloughs. The company's trying to cut about a billion dollars in labor costs. Mechanics and other union workers had previously accepted new contracts but pilots rejected American's latest offer earlier this month.
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San Bernardino, Calif., files for Chapter 9 bankruptcy protection as the city will run out of money later this month. City council members were told to cut millions of dollars from the budget and that's expected to mean layoffs.
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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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In 2008, Kimberly Fague was diagnosed with organ failure. Plagued by nausea, she lost a third of her body weight. She suffered from confusion and constant…
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American Airlines is asking a judge to revamp its labor contracts. The company says it needs to drastically reduce costs to exit bankruptcy and remain competitive. The airline's unions, on the other hand, are hoping to push a merger with US Airways that may save their labor pacts.
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The governor appointed David Unkovic to save Harrisburg. Now he's being sued by some of the town's residents.
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Harrisburg, Pa, spent more than $300 million on a garbage incinerator. Now it has more debt per capita than any other U.S. city.