Charting Stocks

Extended Stay America has become the latest casualty of the economic crisis. The operator of low to mid priced hotels filed for Chapter 11 bankruptcy protection as consumers cut back on travel leisure spending.
According to the bankruptcy filing, Extended Stay America has $7 billion in assets with $7.6 billion in debt. The company owns 680 [...]

Six Flags, the world’s largest regional amusement-park company, is seeking chapter 11 bankruptcy protection. The company says it has to restructure and/or default on $1.8 billion of debt. Today’s  bankruptcy filing came after a failed attempt to renegotiate with creditors.
The company did not have ample liquidity to make a  $288 million payment due preferred shareholders [...]

Reuters is reporting that Trump Entertainment Resorts Inc. has filed for Chapter 11 bankruptcy protection.
This would be the third trip to the bankruptcy courts for Trump Entertainment, though my hunch is that this will be the last. Nine other Trump affiliated companies have also sought bankruptcy protection. Trump Plaza Associates, Trump Marina Associates and Trump [...]

GM is considering chapter 11 bankruptcy and forming  new company.
WSJ reports  “”One plan includes a Chapter 11 filing that would assemble all of GM’s viable assets, including some U.S. brands and international operations, into a new company.”
The plan would allow the new company to keep the viable assets while liquidating the undesirable assets under the [...]

Tribune Co. may be filing for Chapter 11 Bankruptcy next week, as advertising revenues tumbled.The company has $1.5 billion due in interest payments on debt due over the next 8 months and won’t have the cash to make good. Tribune has hired Lazard to prepare the bankruptcy filings.
Tribune has been in trouble for a while. [...]

Donald Trump & Co. Maxed Out

You know times are rough when Donald Trump can’t pay his bills!
Trump Entertainment Resorts announced that it will have to miss the $53.1 Million interest payment due to it’s bondholders on Monday. Citing a collapse in revenues and a poor economic environment, the Atlantic City Casino operator says that it [...]