The U.S. has lost more than 7.2 million jobs since the recession began in December 2007 and job losses are continuing as we enter the new year. The biggest and most recent job losses are coming from defense contractor Lockheed Martin Corp. which is implementing 1,200 job losses and shipping giant UPS which is implementing [...]
The 400-room Four Seasons Resort in Irving, which hosts the annual Byron Nelson golf tournament, is facing foreclosure. In 2009, more than 2,400 commercial properties were posted for foreclosure in the Dallas-Fort Worth area, but none of the foreclosures were nearly as large as the Four Seasons Resort in Irving. The property, well known [...]
In their effort to consolidate jobs and streamline processes, Pilgrim's Pride which was purchased by JBS USA during Chapter 11 bankruptcy, implemented 230 corporate and administrative job losses, including 160 job losses in East Texas. "We operate a lean corporate structure," said spokesman Chandler Keys. "One of the main goals is to make sure we [...]
Couples filing bankruptcy and going through a divorce need to carefully weigh their bankruptcy decisions. Here are a few questions you should ask yourself and your potential bankruptcy attorney before you proceed: Should We File Bankruptcy Together or Separately? While some divorcing couples get along fine and may be able to go through a bankruptcy [...]
The Labor Department said Thursday that the number of new jobless claims rose to 480,000 last week when many economists were hoping for a decline and a sign that the job losses would be improving soon. But the rise in weekly claims of 7,000 last week, which had followed an increase of 19,000 the previous [...]
In an effort to replenish the Texas unemployment insurance fund, the Texas Workforce Commission has announced that next year two-thirds of Texas businesses will pay nearly three times the unemployment benefits tax they paid this year. Businesses that pay the minimum state unemployment tax will owe nearly $65 per worker in 2010, up from about [...]
One of the biggest controversies surrounding the use of TARP funds (aka bailout money) has been that none of that money was used to directly benefit homeowners facing foreclosure. Proponents of funneling money into the banking industry as opposed to homeowners claimed that the benefits of the bailout would trickle down to homeowners facing foreclosure. [...]
Neiman Marcus has announced that retail store sales dropped a staggering 7.5 percent in November. In an effort to cut costs, the company is implementing job losses and outsourcing its information technology department. New jobs will go India. Is this a trend? As job losses mount and the recession clamps down on consumer spending, many [...]
Are Part-Time Workers More Likely to File Bankruptcy? Many Americans who have remained unemployed for over a year are now searching for any work they can find to fill the gap in their finances. Oftentimes, former full-time workers are forced to work part-time which can often make them more vulnerable to bankruptcy. Here's why: Working [...]
If you were to listen to some of the most popular economists and pundits you would think that the economy is on the upswing and that Americans are just swimming in cash. But the truth of this matter is that the economy is still faltering. Unemployment is still over 10 percent nationwide and some states [...]