Here are your top business and financial news headlines for Monday, April 9, 2012: – Labor representatives of Volkswagen and its Audi unit say they expect binding commitments – Reddy Ice Holdings about to file for Chapter 11 bankruptcy protection – Qatar’s sovereign wealth fund has built a 5% stake in Xstrata ahead of $41B [...]

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After the recent public outcry over “pink slime”, AFA Foods filed for Chapter 11 bankruptcy protection today and announced that it will be selling some assets due to a sharp decrease in demand. The company, which is based in King of Prussia, Pennsylvania, said it had secured $56 million in financing to continue operating during [...]

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The smoking gun has been found with regard to MF Global‘s missing millions. Jon Corzine, the company’s former CEO, gave “direct instructions” to transfer $200 million from a customer fund account to meet an overdraft in one of the brokerage’s JPMorgan Chase accounts in London. The damning email was obtained by Bloomberg News. Edith O’Brien, [...]

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Here are your top stories for this Friday, January 20, 2012: – Rick Perry drops out – Barack Obama promotes U.S. as travel destination – Italian cruise ship captain’s hometown comes to his defense – Kodak files for Chapter 11 bankruptcy protection

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It’s official. Iconic photo-equipment company Eastman Kodak Co. said early this morning that it has filed for Chapter 11 bankruptcy protection. The firm said the move “is intended to bolster liquidity in the U.S. and abroad, monetize non-strategic intellectual property, fairly resolve legacy liabilities, and enable the company to focus on its most valuable business [...]

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“The easiest way to become a millionaire is to start out a billionaire and go into the airline business.” – Richard Branson, founder of Virgin America You just spent $500 on holiday airfare, including baggage fees, change fees, and a fuel surcharge – yet all you got to eat on the flight was a tiny [...]

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There’s trouble in Twinkie-land. Hostess Brands filed for Chapter 11 bankruptcy protection today to confront burdensome debt and labor costs, less than three years after completing an earlier restructuring. The baker ended an earlier round of bankruptcy hearings in February 2009 when buyout firm Ripplewood Holdings LLC and lenders took control of Interstate Bakeries Corp., [...]

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Another airlines is hitting hard times.  AMR, the parent company of American Airlines, filed for Chapter 11 bankruptcy this morning. Texas-based AMR Corporation announced that the company filed voluntary petitions for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of New York. The company says it did so “in order to [...]

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Here’s one that will have you scratching your head. An email sent out to members of the Crystal Cathedral congregation requesting meals for founder Rev. Robert Schuller‘s ailing wife has sparked outrage. The email asked that that meals for Arvella Schuller, who is ill with pneumonia, be dropped off at the cathedral’s Tower of Hope [...]

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Dippin’ Dots, the company behind those tasty ice cream pellets dubbed “The Ice Cream of the Future”, has filed for bankruptcy protection from its creditors. Yesterday, the company listed assets of $20.2 million and debt of $12 million in Chapter 11 documents in U.S. Bankruptcy Court in Paducah, Kentucky, where the company is based. Revenue [...]

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Friendly’s, the chain restaurant and ice cream parlor that’s been around for over 75 years, filed for bankruptcy protection today as the slow economy claimed another victim. The chain blamed rising ice cream prices and high rents for its current financial woes. The company, which operates or franchises restaurants in the eastern United States, plans [...]

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It’s the end of an era for Borders Books.  The Ann Arbor-based bookstore chain is closing down, with many of its stores liquidating as early as today. The liquidation, which Borders announced on Monday afternoon, means that the 10,700 people who still work for Borders will be losing their jobs. “For decades, Borders stores have [...]

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