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BUSINESS
May 5, 2012 | By Ken Bensinger, Los Angeles Times
There are frequent fliers, and then there are people like Steven Rothstein and Jacques Vroom. Both men bought tickets that gave them unlimited first-class travel for life on American Airlines. It was almost like owning a fleet of private jets. Passes in hand, Rothstein and Vroom flew for business. They flew for pleasure. They flew just because they liked being on planes. They bypassed long lines, booked backup itineraries in case the weather turned, and never worried about cancellation fees.
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BUSINESS
April 22, 2014 | By Ricardo Lopez
A new report released Tuesday by the Consumer Financial Protection Bureau is warning borrowers of a catch that is pushing private student loans into default even if the loan is in good standing.    The federal consumer agency said that borrowers complain of being blindsided when their student loans automatically default when co-signers -- usually parents or grandparents -- die or fall into bankruptcy. When this happens, lenders demand that the full amount be paid immediately.
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BUSINESS
February 6, 2008 | From Times Wire Services
Sirva Inc., a provider of moving services and parent of Allied Van Lines, filed for bankruptcy protection after struggling with too much debt in the U.S. housing downturn. The Westmont, Ill.-based company and nearly 60 affiliates filed for protection in U.S. Bankruptcy Court in Manhattan. Sirva has $924.5 million of assets, $1.23 billion of debt and more than 100,000 creditors, according to the filing. It said the bankruptcy covered only its U.S. operations. Sirva expects to stay in business while it restructures, and emerge from bankruptcy within 60 to 90 days.
SPORTS
April 4, 2014 | By Bill Shaikin
Four minutes before Hyun-Jin Ryu threw the first pitch of the Dodgers' home opener Friday, Time Warner Cable hit the send button. Vin Scully had just handed the ceremonial first pitch to Sandy Koufax, two of the most beloved sports figures in Los Angeles history teaming up to welcome baseball back to Dodger Stadium. It was a goosebump moment in person and on television, except that most of Southern California cannot see the Dodgers on television. In an email blast to DirecTV subscribers demanding their Dodgers, TWC put the blame on DirecTV.
BUSINESS
March 21, 2008 | From Times Staff and Wire Reports
Aloha Airlines has filed for Chapter 11 bankruptcy protection a little more than two years after emerging from a previous bankruptcy. Aloha Airgroup Inc. said it was unable to generate sufficient revenue because of what it called "predatory pricing" by Mesa Air Group's Go airline. Mesa Air Group Inc., based in Phoenix, launched Go into the inter-island market in 2006 to compete with Aloha and Hawaiian Airlines Inc. All three airlines have reported losses totaling $85 million.
BUSINESS
December 31, 2004
US Airways Group Inc. said it hoped to file its bankruptcy reorganization plan by Feb. 15.
BUSINESS
October 23, 2008 | times wire reports
A bankruptcy judge has approved an investment agreement that would provide $600 million in loans and other capital to reorganize Interstate Bakeries Corp. U.S. Bankruptcy Judge Jerry Venters approved the package, paving the way for the Kansas City, Mo., maker of Hostess Twinkies and Wonder Bread to continue trying to exit more than four years of Chapter 11 protection.
BUSINESS
April 2, 2009 | TIMES WIRE REPORTS
Computer maker Silicon Graphics Inc. filed for bankruptcy protection for the second time in three years and agreed to sell most of its assets to Rackable Systems Inc. for $25 million. Shares of Silicon Graphics of Sunnyvale, Calif., plunged 23 cents to close at 18 cents. Shares of Rackable Systems, a Fremont, Calif., maker of server and data storage products, shed 18 cents to $3.88. In U.S. Bankruptcy Court documents, Silicon Graphics said it had been scrambling to find a buyer for months but couldn't secure a deal even after contacting about 150 potential suitors.
BUSINESS
July 25, 1996 | JOHN O'DELL, TIMES STAFF WRITER
The trustee running bankrupt Newport Beach home builder Baldwin Co. has sued the firm's owners, brothers Alfred and James Baldwin, claiming they want to resurrect their development empire by wresting the rights to thousands of acres of valuable land from the business that bears their name. Bankruptcy trustee David Gould argues that the brothers are jeopardizing his efforts to nurse Baldwin Co. through a reorganization and repay more than $250 million in debts.
BUSINESS
December 15, 1993 | DEAN TAKAHASHI, TIMES STAFF WRITER
Robert A. Ferrante, a once-flamboyant developer who was acquitted last year of criminal charges in one of the FBI's top-priority bank fraud cases, filed for bankruptcy Monday. Ferrante of Newport Beach listed debts of $24.2 million and assets of only $777,300 in his Chapter 7 filing in U.S. Bankruptcy Court in Santa Ana. A Chapter 7 filing seeks a court-monitored liquidation of assets to pay creditors.
BUSINESS
March 25, 2014 | By Jerry Hirsch
Margie Beskau would seem to have a strong lawsuit against General Motors for millions in damages. Eight years ago, her 15-year-old daughter, Amy Rademaker, died in a Chevrolet Cobalt - one of the cars the automaker has now admitted had a deadly safety defect. A faulty ignition switch shut off the car, leaving its teenage driver without power steering, brakes or air bags. But Beskau probably will never collect in the civil courts, legal experts say, because GM has been absolved of all responsibility for crashes before the automaker's 2009 bankruptcy and federal bailout.
ENTERTAINMENT
March 19, 2014 | By Saba Hamedy
In 1958, Ed Michelson started a motion picture catering company - Michelson Food Services - and made food for the cast and crew on such classic films as "West Side Story" and "Some Like it Hot. " Michelson was one of the first to operate a food service truck on film sets, and for decades business boomed, back when virtually all the big studio movies were filmed in Los Angeles. Today, son Steve Michelson said that's no longer the case. When his father died, Michelson decided to start his own catering company, Sylmar-based Limelight Catering, which employs about 50 people and has been in business for 14 years.
SPORTS
March 17, 2014 | By Bill Shaikin
The greatest stain on the history of a proud franchise was officially dissolved Monday, when U.S. Bankruptcy Judge Kevin Gross signed a final decree ending the Dodgers' time in his court. The bankruptcy cases of the Dodgers and related entities "are hereby closed," Gross wrote in an order that ended the team's stay in bankruptcy court at 995 days. Gross signed the order as the Dodgers flew over the Pacific Ocean en route to Australia for Saturday's season opener against the Arizona Diamondbacks.
SPORTS
March 17, 2014 | By Dylan Hernandez
PHOENIX -- Sometime in the relatively near future, perhaps even this year, Zach Lee could take the mound for the Dodgers in a regular-season game. Or Joc Pederson could step into the batter's box. If it happens, fans at Dodger Stadium might consider raising their plastic cups in a tribute to the man responsible: Frank McCourt. If not for the team's unpopular former owner, the Dodgers' two top prospects would be somewhere else. Lee might be counting down the days until the NFL draft.
BUSINESS
March 14, 2014 | By Ricardo Lopez
Quiznos, the Denver-based sandwich chain, said Friday it had filed for Chapter 11 bankruptcy in Delaware, the second quick-service restaurant chain in a week to do so. The filing is expected to be speedy, as Quizno's senior leadership had already secured a "pre-packaged" restructuring plan with its creditors, the company said in a statement. The move will cut the company's debt by more than $400 million. Quizno's bankruptcy filing comes just days after Sbarro, the New York-based pizza chain, filed for court protection in Manhattan on Monday, the second time in three years.
BUSINESS
March 10, 2014 | By Tiffany Hsu, This post has been updated, as indicated below.
Sbarro filed for bankruptcy for the second time in three years as the pizza chain watches foot traffic slow in the malls many of its restaurants occupy. The Melville, N.Y., company filed for Chapter 11 protection in U.S. Bankruptcy Court in Manhattan on Monday along with more than 30 affiliates. Sbarro had sought bankruptcy in April 2011, emerging the next November. This time, the Italian-style eateries has racked up between $100 million and $500 million in both assets and liabilities, according to the company.
BUSINESS
January 28, 1992 | CARLA LAZZARESCHI, TIMES STAFF WRITER
Shoppers at Bullock's, I. Magnin's and Macy's stores are not likely to be directly affected by the Chapter 11 bankruptcy petition filed Monday by R. H. Macy & Co. However, the filing raises a number of questions and concerns among consumers, creditors and employees. Here are answers to some of the most frequently asked questions: Q Do I still have to pay my charge accounts? A Certainly. The bankruptcy filing does not change your credit relationship with Macy's, Bullock's or I. Magnin.
ENTERTAINMENT
March 10, 2014 | By Meg James
Prospect Park Networks -- the production company that launched with high hopes of bringing two canceled ABC soap operas back to life -- has put itself on legal life support. The production firm based in Century City, headed by veteran producers Jeff Kwatinetz and Rich Frank, said Monday that it has filed for Chapter 11 bankruptcy protection. The group spent nearly three years and more than $10 million trying to revive two canceled daytime dramas, "All My Children" and "One Life to Live," that ran for four decades on the ABC television network.
BUSINESS
March 2, 2014 | By Stuart Pfeifer
Newport Beach home builder William Lyon Homes has a history almost as interesting as its founder and namesake. William Lyon flew combat missions in the Korean War, commanded the Air Force Reserve and was chief executive and chairman of AirCal in the 1980s before selling the regional airline to American Airlines. Known as "the General," Lyon was a key player in the post-war Southern California housing boom. He got his start in home building in 1954 with Luxury Homes, a company he launched to build homes for military veterans.
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