Bankruptcy

It was billed as a "shocking tell-all" and a "world exclusive," but the National Enquirer's March 26 cover story landed with a thud. TMZ, Page Six and other major players in celebrity gossip ignored the article in which a masseur claimed John Travolta offered money for sex. FOR THE RECORD: An earlier version of this article used the term "masseuse"; it should have said "masseur. " Five weeks after the issue left the checkout aisle, a DUI attorney from Pasadena put the anonymous masseur's tawdry tale in a lawsuit and it became an overnight pop culture sensation, topping Google News, trending on Twitter and meriting a segment on "Good Morning America.

The Dodgers' new owners could reap hundreds of millions of dollars in benefits from the confidential terms of a U.S. Bankruptcy Court settlement between former owner Frank McCourt and Major League Baseball. The terms can be enforced for up to 40 years, with final authority over distribution of the Dodgers' television revenue granted to the court rather than to MLB, according to two people familiar with the sale process but not authorized to discuss it. As a result, the Dodgers' new owners could retain millions each year that otherwise would be shared with other teams.

washington -- Mitt Romney twice emphasized his unique business background when he and eight other Republican presidential candidates faced off in a debate last week in Iowa. "I've spent the last, as I've told you, 25 years in the private sector," former Massachusetts Gov. Romney declared at one point. "I understand why jobs come and why jobs go. I've done business in 20 countries."

Dear Liz : I had credit scores over 800 with no late payments ever. Unfortunately, a medical issue required me to charge $24,500 to a credit card. That led to a bankruptcy, which was discharged in July 2011. My scores dropped to 672, and they're currently around 680. I'm paying two unsecured credit cards in full each month plus an auto loan that was reaffirmed in bankruptcy. I would like to continue rehabilitating my scores by applying for another loan. When a company requests my credit scores, does it also see my bankruptcy, and would that prevent me from getting credit?

First of three parts Tiffany Lee wanted a car. She was weary of the two-hour bus ride to her job at a UCLA Health System clinic. She hated having to ask friends to drive her 7-year-old son to his asthma treatments. But as a single mother with three children, bad credit and a $27,000-a-year salary, she couldn't find a bank or dealership willing to give her a loan. Then a friend steered her to Repossess Auto Sales in Hawthorne. Another buyer might have balked at the deal she was offered.

PHOENIX — Andre Ethier said Tuesday he does not plan to impose a deadline on negotiations on the contract extension that could keep him out of free agency. Dodgers General Manager Ned Colletti has said he would like to re-sign Ethier and has discussed the idea with Dodgers President Stan Kasten , who took office three weeks ago. Ethier said Tuesday he and his agent have not received a formal contract proposal from the Dodgers. Ethier also said he did not anticipate a point where free agency could be so close that he would put any contract talks on hold before he could test the market.

Dear Liz: I graduated from college last summer and was lucky enough to get full-time employment. However, I have a great deal of college debt, including private and federal loans. Are there government programs that help pay back college loan debt? Do you have any suggestions? I cringe at the thought of paying double what I owe over the life of the loan because of interest and want to get this debt under control in the next few years instead of 15. Answer: Your eagerness to pay off your student loan debt is admirable and is particularly appropriate when it comes to your private student loans.

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.

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.

Restaurant chains Bennigan's and Steak & Ale have filed a bankruptcy petition and will shut their doors and liquidate their assets. The chains' owner, privately held Metromedia Restaurant Group of Plano, Texas, said recently that it was not preparing to put the chains in bankruptcy.

Five years after his partnership lost a bid to buy Tribune Co.and the Los Angeles Times, billionaire businessman Eli Broad said he remains interested in joining with others to restore local ownership to The Times. The issue arose this week with the pending release of Broad's book, "The Art of Being Unreasonable: Lessons in Unconventional Thinking," in which the onetime home builder and investment services magnate speculates that the newspaper will be sold after the resolution of the bankruptcy of its owner, Tribune.

Less than a year before the 2008 collapse of Lehman Bros. plunged the global economy into a terrifying free fall, the Wall Street firm awarded nearly $700 million to 50 of its highest-paid employees, according to internal documents reviewed by The Times . The documents, which were among the millions of pages submitted in Lehman's bankruptcy, show the list of top earners each were pledged $8 million to $51 million in cash, stock and other compensation....

After sitting out a recent series of airline mergers, Tempe, Ariz.-based US Airways Group Inc. wants to hook up with American Airlines. But American's parent company, AMR Corp., which is mired in Bankruptcy Court, said it's not interested - at least for now. American, ranked as the nation's fourth-largest airline, operates 617 planes, with an additional 281 jets operated by its regional carrier, American Eagle. US Airways ranks as the country's fifth-largest airline and operates about 340 jets.

Bankruptcy is bringing income down at American Airlines Inc. parent AMR Corp., as restructuring costs pushed the company into a $1.7-billion loss for the first quarter. Without the $1.4-billion bankruptcy burden, AMR said its loss would have been $248 million. At least that's not quite as bad as its $405-million loss during last year's first quarter. Still, the company suffered a net loss of $4.95 a share, compared with the net $436 million, or $1.31 a share, lost last year.

Ailing Twinkies maker Hostess Brands Inc. is going toe-to-toe with its workers' unions in a courtroom clash that the company said may lead to its liquidation. Hostess is trying to persuade a federal bankruptcy judge in New York to allow it to reject existing collective bargaining agreements with the Teamsters and bakers' unions. The maker of Ho Hos, Ding Dongs and Wonder Bread filed for Chapter 11 bankruptcy protection in January, three years after emerging from its last bankruptcy.

American Airlines will cut 1,200 airport baggage and cargo jobs and close an Arizona reservations center under a bankruptcy restructuring plan to trim annual labor spending by $1.25 billion. All the carrier's jobs at airports in Ontario, six other U.S. cities and two cities in Canada will be outsourced. AMR Corp.'s American detailed changes for nonunion workers 11 weeks after telling other workers it would do away with 13,000 of their jobs, freeze pensions and make work-rule and benefit changes.

A Silicon Valley financier who owns a stake in the NHL's Nashville Predators has filed for personal bankruptcy two weeks after being accused of loan fraud. William "Boots" Del Biaggio III, 40, scion of a prominent San Jose banking family, has at least $57 million in unpaid personal and business loans, credit card bills and other financial obligations, according to the Chapter 11 filing in U.S. Bankruptcy Court for the Northern District of California. The filing didn't enumerate Del Biaggio's assets or debts.

A music industry business manager who has acknowledged failing to file income tax returns for the Black Eyed Peas and other clients has filed for bankruptcy. In a petition Sunday seeking Chapter 7 protection in the U.S. Bankruptcy Court in Los Angeles, a lawyer for Sean Larkin estimated his debts at $500,000 to $1 million. The Peas stopped working with Larkin, 41, after learning that he had not filed state and federal returns for years. He is being sued by the group's guitarist and another client, a television executive, for breach of contract.

Bankrupt Twinkie-maker Hostess  Brands Inc. is going toe-to-toe with its workers' union in a clash that the company said may lead to its own liquidation. A two-day trial began Tuesday in which Hostess will try to convince a federal bankruptcy judge in New York to allow it to reject its existing collective bargaining agreements with the Teamsters and bakers' unions. The Ho Hos, Ding Dongs and Wonder Bread maker filed for Chapter 11 protection in January, less than five years after emerging from its last bout of bankruptcy.