Texas GOP Vote

As part of my ongoing series on Chapter 11 bankruptcy processes and U.S. Bankruptcy Courts, I took the opportunity to visit the American Bankruptcy Institute's (ABI) Winter Leadership Conference to see if there was any change in the works. Looking historically at Bankruptcy in our judicial system, it seems we go through major changes about every forty years. The last time this was done was in 1978. For the past two years, the ABI has been conducting a series of Bankruptcy Commission hearings to study necessary reforms for Chapter 11 that are expected to be implemented by 2018.   Read more »

A staple food group icon of an overweight America now becomes an example of what is wrong in our business system and bankruptcy processes. In an announcement last Friday, November 16th, Hostess CEO Gregory Rayburn, said "We deeply regret the necessity of today's decision [to shutdown Hostess' entire business], but we do not have the financial resources to weather an extended nationwide strike."  So how exactly was the money spent after the 2004 restructuring by private equity firm Ripplewood Holdings?  Was it well directed toward rebuilding the company's business?  The decision to force Irving, Texas based Hostess and their entire brand line of products out of business will mean the end of 18,500 jobs and two billion Twinkies.  But who walked away with the dough?

BREAKING NEWS UPDATE:  According to the Houston Business Journal at 2:50 p.m. today, Hostess Brands, Inc. and the BCTGMI Union have entered into a confidential mediation stopping the planned shutdown of the company.   Read more »

Vice President Joe Biden likes to cheer "Osama Bin Laden is Dead and GM is Alive!" But what he doesn't tell you is that since the illegal GM bankruptcy, President Barack Obama has been hard at work as the "Job-Exporter-in-Chief" moving thousands of high paying, middle-class, NON-UNION jobs to China. GM, the shining star on top of the Obama Re-Election "Winter Holiday Tree", is leaving town quickly and what's left is circling the drain.  

In talking with former GM employees, I learned Obama has been sending non-union jobs like product design, engineering and drafting jobs to China.

In my first article about the Delphi Salaried Retirees Pension scandal, I posted an ad from Let Freedom Ring (LFR), an organization that has been shining a very bright light on this scandal and is trying to help these 20,000 retirees regain the pension they worked their entire lives for that was stolen from them by the Obama Administration through the GM/Delphi bankruptcy process. While in Washington, DC last week,