{"id":192443,"date":"2009-03-31T17:34:00","date_gmt":"2009-03-31T22:34:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/03\/31\/bankruptcy-updates\/"},"modified":"2009-03-31T17:34:00","modified_gmt":"2009-03-31T22:34:00","slug":"bankruptcy-updates","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/03\/31\/bankruptcy-updates\/","title":{"rendered":"Bankruptcy Updates"},"content":{"rendered":"<p>The <a href=\"http:\/\/www.cnbc.com\/\/id\/29969443\">Department Store Chain Gottschalks twill be filing for liquidation<\/a>, and <a href=\"http:\/\/online.wsj.com\/article\/SB123842063675069619.html#mod=rss_whats_news_us\">mall developer General Growth Properties has managed to put off bankruptcy<\/a>, for a while at least.<\/p>\n<p>I think that it is likely that GGP will go chapter 11, at which point, Thomas Friedman, whose wife is a Bucksbaum, the family that owns the developer, may have to downsize his lifestyle&#8230;.I&#8217;m so sad for him (not).<\/p>\n<p>Finally, the <a href=\"http:\/\/www.reuters.com\/article\/topNews\/idUSTRE52U3OZ20090331?feedType=RSS&amp;feedName=topNews\">Sun-Times Media Group has filed for bankruptcy<\/a>, and before you start wringing your hands over how these are dark days for newspapers, note that <a href=\"http:\/\/www.first-draft.com\/2009\/03\/may-conrad-black-and-david-radler-rot-in-hell.html\">Conrad Black and His Evil Minions<sup>\u2122<\/sup><\/a>, most notably David Radler, looted the company, and have gone to jail for doing so.<\/p>\n<p>In a way, it&#8217;s a microcosm of what is wrong with the news business:  Bankers take over from journalists, generate fantastic profit margins by destroying journalism at these institutions through draconian cuts, and then they walk away, leaving bleached bones.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Department Store Chain Gottschalks twill be filing for liquidation, and mall developer General Growth Properties has managed to put off bankruptcy, for a while at least. I think that it is likely that GGP will go chapter 11, at which point, Thomas Friedman, whose wife is a Bucksbaum, the family that owns the developer, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1005,973,1064,1019],"tags":[],"class_list":["post-192443","post","type-post","status-publish","format-standard","hentry","category-business","category-economy","category-media","category-schadenfreude"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192443"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=192443"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192443\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=192443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=192443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=192443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}