Average price of a parking space in Boston’s Back Bay – is $137,000, but this one went for $300,000. This CNN video shows the spot that brought the money.
Theme-park chain Six Flags files for bankruptcy
updated 8:34 p.m. EDT, Sat June 13, 2009
(CNN) — In an effort to shed $1.8 billion in debt, popular theme-park chain Six Flags announced Saturday that it was filing for Chapter 11 bankruptcy.
Airbus Could Cope With 1,000 Order Cancellations, Enders Says
By Andrea Rothman and Sabine Pirone
June 14 (Bloomberg) — Airbus SAS could cope with losing as many as 1,000 jetliner contracts without suffering unduly because of its “formidable” order book, Chief Executive Officer Tom Enders said.
Airbus is able to withstand its backlog of 3,500 contracts shrinking somewhat, Enders told journalists in Paris yesterday. If the order book kept growing customers would have to wait seven or eight years between contracts and deliveries, something that might deter carriers from buying, he said.
[ . . . ]
Deliveries in 2011 are likely to fall 15 percent to 25 percent short of the number envisaged in an earlier plan as the recession takes its toll, the CEO said.
[ . . . ]
Airbus parent EADS is based in Paris and Munich.
To contact the reporters on this story: Andrea Rothman in Paris at email@example.com; Sabine Pirone in Paris at firstname.lastname@example.org
Last Updated: June 14, 2009 08:02 EDT
Knight-Celotex converts from Chapter 11 to Chapter 7 bankruptcy as CEO quits
Knight-Celotex LLC, a Northfield-based manufacturer of building products, is under the control of a bankruptcy trustee, after its chief executive abruptly resigned, according to court documents filed in the firm’s bankruptcy case in Chicago.
U.S. Bankruptcy Judge Pam Hollis on Thursday granted an emergency request from Bank of America Corp. to convert the company’s bankruptcy to a Chapter 7, or liquidation, from a Chapter 11, which normally is used by companies that want to keep their businesses alive.
Knight-Celotex, which makes insulation sheathing, sound deadening and roofing fiberboard, sought bankruptcy protection April 6. In September, it defaulted on a $34 million loan from Bank of America, according to the bank’s statements filed in court. When Bank of America learned Wednesday that CEO James Knight had resigned, it asked the court to convert the bankruptcy case to a liquidation.
Renting out a room can add to income, and also add expenses
Taking precautions such as getting background checks and contracts can be worthwhile
Part of the value in a home is not just equity, but spare bedrooms that could be rented out. Roommates are not for everybody, however, and additional expenses will eat into rental income.
During the economic downturn, more homeowners are looking to rent space in their homes. Postings from homeowners seeking roommates on classified-ads site Craigslist.com have increased 160 percent across the country in the past two years, a spokeswoman said.
But just because you can find a tenant for $500 a month doesn’t mean you’re $6,000 a year richer. You’ll have a lot of associated costs with becoming a landlord.
[etc. – includes practical information and how-to]
Lenders hesitant on small biz stimulus loans
The Small Business Administration plans to begin approving ARC loan applications next week, but banks around the country remain wary of the emergency debt-relief program.
By Emily Maltby, CNNMoney.com staff writer
Last Updated: June 10, 2009: 12:33 PM ET
NEW YORK (CNNMoney.com) — Struggling small business owners can begin applying next week for an interest-free debt-relief loan through a new Small Business Administration program — if, that is, they can find a bank to process their application.
The new “America’s Recovery Capital” (ARC) loan program, authorized by February’s stimulus bill and slated to launch on June 15 after four months of planning, aims to make small, government-backed loans available to viable companies laid low by the recession. (For full details on ARC eligibility and loan terms, click here.) But the loans will be made and managed by SBA lenders, and so far, few have jumped on board.
My Note –
Hasn’t that always been the problem with the Small Business Administration. There are actually very small percentages of banks willing to work with those loan programs and then those (something around 15% of banks) are going to be even more difficult now. What’s it going to take?