AMR Corporation — the parent company of American Airlines, which provides a large number of South Florida jobs — filed for bankruptcy under Chapter 11 today.
According to The Miami Herald:
Unable to cut costs enough to fend off creditors, American and its parent company, AMR Corp., filed
President George Bush announced that General Motors and Chrysler will receive $13.4 billion in loan money from the Wall Street bailout fund, in a move to keep the companies afloat through March. He also wants to see Congress allocate another $4 billion for bridge loans.
By the Spring, the auto More…
The complex structure of modern capital markets is increasingly the cause of financial crises. External shocks like a decline in housing prices are intensified as they move through the convoluted chains of dealings that link market participants. Concentration of trading among a small group of dealers only heightens the many More…
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