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October 18, 2007 |
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BEAZER HOMES: 68% of Home Buyers Cancel Orders Beazer Homes USA Inc. said that 68% of its prospective home buyers canceled their orders in its fiscal fourth quarter ended Sept. 30, 2007, Michael Corkery of the Wall Street Journal Reports. The number is almost twice the 36% of customers who cancelled... Read More |
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BOSTON SCIENFIFIC: To Reduce Workforce by 2,300 Worldwide Boston Scientific Corporation disclosed Wednesday several new initiatives designed to enhance short- and long-term shareholder value, including the restructuring or sale of several business units, as well as substantial expense and head count reductions... Read More |
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FIRST MAGNUS: Unsecured Creditors to Get Cash Payouts Under Plan First Magnus Financial Corporation on Monday filed a plan of liquidation and an accompanying disclosure statement explaining the terms of the plan, which contemplates recoveries to creditors through an orderly liquidation of the assets of its bankruptcy... Read More |
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GENERAL MOTORS: To Cut 767 Jobs at Hammtramck Plant in December In December 2007, General Motors Corp. will initiate a lay off program at the Hamtramck assembly plant in Detroit, Michigan, affecting 767 workers, according to various reports... Read More |
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GMAC LLC: Financial Services Unit Restructures Mortgage Operations GMAC Financial Services, a subsidiary of GMAC LLC, is restructuring its mortgage operations, Residential Capital LLC, as severe weakness in the housing market and mortgage industry continues to prevail. ResCap will streamline its operations and revise... Read More |
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MTI TECHNOLOGY: Case Summary & 19 Largest Unsecu20d Creditors Debtor: M.T.I. Technology Corp. 15641 Red Hill Avenue, Suite 200 Tustin, CA 92780... Read More |
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PACIFIC LUMBER: Plan Creates $200MM More Debt, Noteholders Say The proposed full payment Chapter 11 plan filed by Scotia Pacific Company LLC and Pacific Lumber Company is not feasible as it burdens Scotia with approximately $1.1 billion in total debt upon emergence, The Bank of New York Trust Company, N.A.'s,... Read More |
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THORNBURG MORTGAGE: Posts $1.08 Billion Net Loss in Third Quarter Thornburg Mortgage Inc. reported a net loss for the quarter ended Sept. 30, 2007, of $1.08 billion, as compared to net income of $75.3 million for the same period in the prior year.... Read More |
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