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BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | June 8, 2013
The closing of the steel mill at Sparrows Point overwhelmed Bob Jennings. Too young to retire at 59, he faced a gloomy job market for local manufacturing workers and a bureaucracy that couldn't get him timely training help. He felt like a failure. No, no, his wife said, "the system is the failure," but she couldn't convince him. On a cold Saturday morning, he wrote her a short note of apology, walked to their shed and shot himself. Troy Pritt, 44, also worked at the Baltimore County mill.
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SPORTS
By Jamie Smith Hopkins, The Baltimore Sun | June 5, 2012
Are you saving more money than a Super Bowl champion? Jamal Lewis, the former Ravens running back, offered the nosy a look at his finances when he recently filed for Chapter 11 bankruptcy protection . For instance, he makes $35,000 in an average month and spends $34,050 of it, leaving him with $950 left over, according to court documents. You can see the full 75-page rundown here . Highlights: o His monthly mortgage costs, not including taxes and insurance: $6,000 o Monthly vehicle payments: $5,700 o Biggest monthly outflow by far: $18,000 for regular expenses from operating a business o Charitable contributions: $0 All told, Lewis tallies up about $14.5 million in assets and $10.6 million in liabilities.
NEWS
By Tricia Bishop, The Baltimore Sun | October 19, 2011
A federal bankruptcy judge has granted a month-long extension to Alter Communications, which publishes the Baltimore Jewish Times and Style Magazine, and creditor H.G. Roebuck & Sons, to "negotiate their differences and file a joint plan of reorganization," according to a court order filed Wednesday. U.S. Bankruptcy Judge James F. Schneider previously ordered the entities to develop and present a plan by Oct. 21 to remove Alter from Chapter 11 proceedings, or said he would appoint a trustee to run the business.
NEWS
April 12, 2010
The Tribune Co. filed a bankruptcy reorganization plan Monday that would allow it to keep its newspapers and broadcast stations while wiping out most of its debt, even as two groups of lenders vowed to unravel a pivotal part of the proposal. If the plan is approved, ownership of the media company would go to a group of lenders, including JPMorgan Chase & Co. and Angelo, Gordon & Co. Those lenders support the plan and an underlying settlement over allegations of fraudulent conduct in financing the 2007 leveraged buyout that left Tribune mired in debt.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | July 18, 2010
The corporate owner of most Baltimore-area malls plans to emerge from bankruptcy this year under a restructuring plan that analysts say would put it in a stronger position to attract new tenants and reinvest in faltering properties. General Growth Properties, which filed for bankruptcy protection last year with $27 billion in debt, unveiled its reorganization plan during the past week. The new plan, if approved by a judge, would place the company on a better financial footing by wiping out mounds of debt.
BUSINESS
By Arthur Hirsch, The Baltimore Sun | September 8, 2014
Developer Patrick Turner again put off possible foreclosure on the South Baltimore waterfront he wants to redevelop as the parties agreed Monday in backruptcy court to an Oct. 24 hearing on all matters in the case. The delay gives Turner's Inner Harbor West LLC another month or so to attempt to come to terms with creditor Westport Property Investments LLC, which had asked the court to lift the automatic stay triggered by the bankruptcy that blocks foreclosure. If Turner and his creditors don't reach agreement before then, Judge Robert A. Gordon could be asked to decide the fate of Turner's aspiration to turn 43 acres on the Patapsco River into a project including homes, stores, hotels, a high-rise building and a park.
NEWS
July 19, 2012
What we knew before former FBI director Louis Freeh's investigation into the coverup of child sexual abuse by former Penn State football coach Jerry Sandusky was bad enough, but as I listened to and then read Mr. Freeh's 200-page report, I was once again overcome with rage ("Report faults PSU leaders in abuse," July 13). We idolize the men and women who play various forms of "catch" for a living. Across the nation and around the globe, billions of dollars are made and spent on teams, fields, stadiums, naming rights and their associated amenities.
BUSINESS
By Michelle Singletary and Michelle Singletary,Evening Sun Staff | February 26, 1991
John C. Unitas, the former Baltimore Colt quarterback, has filed for Chapter 11 reorganization in U.S. Bankruptcy Court.Unitas and his wife, Sandra, filed for protection from creditors on Friday. A Chapter 11 filing allows an individual or corporation to continue operating while in bankruptcy.Unitas' attorney, James R. Wooten, said today the bankruptcy was filed to avoid the possibility that Unitas' personal assets would be seized to pay debts, including auctioning his house in Baltimore County, attaching his personal bank accounts and garnishing his salary.
BUSINESS
By Andrea K. Walker, The Baltimore Sun | May 14, 2010
For years, the Preakness has been run in Baltimore as if it might be the last time. Now, a rebounding economy, a new marketing strategy and its owner exiting bankruptcy appear to have solidified the race's future here. Corporate sponsorships for today's Preakness Stakes are up, according to organizers, and include newcomers such as the horse racing broadcaster HRTV and Iberia Airlines. Ticket sales are brisk as fans who pinched pennies last year are heading back to the races and as the "Get Your Preak On" marketing campaign — controversial to some — seems to have lured back the younger crowd who stayed away last year because of new rules against bringing in alcoholic beverages.
BUSINESS
By Andrew Leckey and Andrew Leckey,1987 Tribune Media Services, Inc | May 1, 1991
Recession has helped push the personal bankruptcy rate to a 10-year high.This year's filings should exceed the 1990 figure of 718,107, which was a 16 percent increase over the prior year.Much-publicized financial disasters of major corporations and public figures such as country singer Willie Nelson have made the concept seem more palatable.Some filings are necessary, the result of lost jobs or financial emergencies that can't be rectified. However, others attempt a quick fix, and are entered into casually without consideration of the consequences.
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