Bankruptcy

Apr 22 2013

Distressed homes market value increased

LOS ANGELES, Calif. — Standard home sales — the kind involving non-distressed properties — rose to a 5-year high last month, and pending home sales climbed nearly 15 percent above the previous month, the California Association of Realtors reported today.

Mar 26 2013

Down her last $1,000 in cash, owes $10.7 million

LOS ANGELES, Calif. — Dionne Warwick, one of the most recognizable pop voices of the 1960s, filed for bankruptcy last week citing more than $10 million in tax debt dating back to 1991.

Warwick, 72, made hits out of many Burt Bacharach and Hal David songs and won five Grammys in a 50-year career. The singer is down her last $1,000 in cash and only owns furniture and clothing worth $1,500, according to the Chapter 7 filing in New Jersey.

Juliana D. Norwood  |   OW Staff Writer
Sep 20 2012

Brown approves $55-million loan to avoid bankruptcy

The Inglewood Unified School District became the first Southland school district in nearly 20 years to lose local control over its budget, causing California Governor Jerry Brown to approve an emergency loan of $55 million to keep it from going bankrupt and implement an immediate takeover of the school district’s administration.

Jul 5 2012

How to avoid catastrophes

In the last 100 years or so, many business enterprises appeared on the American landscape and grew to behemoth proportions. In many ways, it seemed as though they were inviolate; that nothing could undermine them and bring them down. However, in the last couple of years we have seen unprecedented corporate failures. It has become glaringly apparent that corporations, like people, have certain vulnerabilities. Even large institutions can fail spectacularly.

Nov 1 2011

Vowed not to file for bankruptcy

COMPTON, Calif.—Compton’s finances are in a shambles.

They’re in such disarray that the city amassed $369,000 in late fees over the last year because it could not pay its policing contract with the Los Angeles County Sheriff’s Department on time, the Los Angeles Times reported today.

The city has already laid off about 15 percent of its workforce, and city leaders warn that more cuts may be on the way. City Hall has slashed spending, even canceling the city’s popular gospel concert.

Across Black America

Here’s a look at African American people and issues making headlines throughout the country.
 

Alabama
Freeman A. Hrabowski, president of the University of Maryland, Baltimore County, will address the annual African American Business Council luncheon on June 28. Hrabowski, who is chairman of President Barack Obama’s Advisory Commission on Education Excellence for African Americans, has a national reputation for his work studying the performance of minority students in math and science. Hrabowski, named one of the 10 best college presidents in the country by Time magazine, was a child leader in the Civil Rights Movement in Birmingham in the 1960s.
 

Arkansas
The Liberty Counsel filed a motion and a brief in United States District Court for the Eastern District of Arkansas seeking to intervene on behalf of a Concepts of Life crisis pregnancy center to defend against a suit filed by the American Civil Liberties Union and the Center for Reproductive Rights. The groups seek to impose a permanent injunction before the Human Heartbeat Protection Act goes into effect July 18. Liberty Counsel also filed a brief opposing the ACLU’s request for an injunction. The “Heartbeat” bill states that when a woman seeks an abortion at or after the 12th week, doctors must test for a fetal heartbeat before an abortion is performed and inform the pregnant mother that the child in her womb has a heartbeat. If a heartbeat is detected, a woman cannot have an abortion, except in cases of rape, incest, and if a mother’s life is in danger. “As we promised when the legislation was introduced, Liberty Counsel will defend this law without reservation for the people of Arkansas, born and pre-born,” said Matt Staver, founder and chairman of Liberty Counsel. “No right is more foundational than the right to life. Without life, all other rights are irrelevant,” concluded Staver.