FTC Cracks Down on Rebills

July 3rd, 2009 • 1 Comment

The economic downturn has transformed the Internet to a place of financial risk: from “businesspeople” promising methods to make money to people preying on those who can least afford it with unfavorable debt consolidation offers. This week the FTC announced a number of movements to attack the rebilling industry with force. Continue reading ‘FTC Cracks Down on Rebills.’

GM Files for Bankruptcy

June 10th, 2009 • 1 Comment

After failing to restructure the company from within, General Motors filed for Chapter 11 bankruptcy on June 1st, 2009. The company currently has approximately $82 billion in assets and more than $172 billion in debt, making this the 4th largest bankruptcy filing in the history of the United States. Continue reading ‘GM Files for Bankruptcy.’

GM Restructuring Plan Fails

May 28th, 2009 • No Comments

The stockholders of General Motors rejected the company’s plan to restructure finances to stay out of bankruptcy. The plan to settle their debt by selling 10% of the shares to creditors owed over $27 billion USD. Continue reading ‘GM Restructuring Plan Fails.’