July 22, 2013
Coroner: Teen in Asiana crash killed by vehicle SAN MATEO, Calif. - As the wreckage of Asiana Flight 214 burned, Ye Meng Yuan was lying on the ground just 30 feet away, buried by the firefighting foam rescue workers were spraying to douse the flames. No one knows exactly how the 16-year-old Chinese student got to that spot, but officials say one thing is clear now: She somehow survived the crash. And in the chaotic moments that followed - flames devouring the fuselage, those aboard escaping by emergency slides, flight attendants frantically cutting away seat belts to free passengers - a fire truck ran over Yuan, killing her. The new details - released yesterday by the coroner's office - compounded the tragedy for her family and confirmed the growing suspicions that emergency workers have had since soon after the July 6 crash: One of the three who died did so by rescuers' actions.
July 21, 2013 |
Detroit's historic bankruptcy filing aroused opposition from angry investors, public employees, and retirees Friday, as state leaders framed the action as their best shot at putting the ailing city on a road to recovery. Flanked by posters of the city's skyline with the words "Reinventing Detroit," the state-appointed emergency manager said Friday that he hopes the roughly $19 billion bankruptcy will provide the fiscal breathing room needed to repair the city's infrastructure and restore basic services.
July 21, 2013 |
Detroit's historic bankruptcy filing could raise anxiety - and, thus, interest rates - in the nearly $4 trillion municipal bond market, which cities use to fund construction and public-works projects, finance officials said. Detroit owed creditors about $19 billion. Others said that Detroit was so financially damaged and the bankruptcy so anticipated that the effect will be muted. Whatever the case, the bankruptcy filing did not come at a good time. The municipal bond market has been under pressure because of speculation that the Federal Reserve could curtail its bond-buying program this year.
July 20, 2013 |
Detroit filed the largest municipal bankruptcy in the nation's history Thursday, marking a new low in a long decline that has left the U.S. automaking capital bleeding residents and revenue, while rendering city services a mess. The city, which was the nation's fourth largest in the 1950s with nearly two million inhabitants, has seen its population plummet to 700,000 as residents fled increasing crime and deteriorating basic services, taking their tax dollars with them. As Detroit faced an estimated debt of $19 billion, the state in March appointed an emergency manager vested with extraordinary powers to rewrite contracts and liquidate some of the city's most valuable assets.
July 16, 2013
Danielle Hartley , formerly doing business as Danielle Hartley Newspaper Delivery , 105 Henry Rd,, Barto; Chapter 7; no schedules available. JJW Elevator Inc., 33 Shadybrook Lane, Levittown; Chapter 7; no schedules available. SOURCES: The Legal Intelligencer.
July 10, 2013 |
Waterloo Gardens is offering deep discounts as it prepares to close its last store, in Exton. The going-out-of-business sale at the 50-acre nursery and retail property follows last year's bankruptcy filing and the closing of the LeBoutillier family business's original Devon store. The bankruptcy followed Waterloo Gardens' ill-timed expansion to stores in Warminster and Wilmington in the late 2000s, just as the recession and the collapse of suburban housing development cut demand for landscaping services, flowers and ornamental trees, and new fountain systems, patio furniture, and other outdoor items.
June 27, 2013 |
Diversifying a business can make sense, but Wednesday presented an example of diversification gone awry. Pfizer, Inc., is the world leader in selling prescription medicine and has a big operation in Collegeville. But part of its legion of lawyers was in federal bankruptcy court in Manhattan handling a $961 million settlement fund for some - but not all - people claiming harm from asbestos. The asbestos was contained in insulation used in blast furnaces for steel-making. What does Pfizer have to do with making steel?