Bankruptcy

The Roman Catholic religious order that runs Brother Rice High School in Chicago and St. Laurence High School in Burbank didn't want Brother Edward Chrysostom Courtney in Chicago any longer. So in the early 1970s, the Irish Christian Brothers shipped...

The Los Angeles City Council on Thursday signed off on Mayor Antonio Villaraigosa's final $7.7-billion budget, setting the stage, as several members acknowledged, for many city workers to get a 5.5% raise in eight months. Council members did not vote to...

The Los Angeles City Council on Thursday unanimously approved Mayor Antonio Villaraigosa’s final budget, expanding key services as several members acknowledged that many city workers will likely get a 5.5% raise in eight months. Councilman Eric...

Allentown has a $200 million red ink problem, which, it seems, is the fault of any city politician not currently in office, and a population of 118,000 as of the 2010 census. That $200 million, split 118,000 ways, comes to less than $1,700 per person....

Those clinging hopefully to the old Borders books gift cards stashed in their drawers or wallets are out of luck, a Manhattan federal judge ruled Wednesday. According to Reuters, there are about $210.5 million worth of such cards that had not been used by...

As Mayor-elect Eric Garcetti assembles his new administration, it is interesting, and encouraging, to note the odd confluence of circumstances that will leave him beholden less to factions or special interests and more to the people of Los Angeles....

Bell's finances have worsened considerably since its infamous corruption scandal, leaving the city unable to refund millions of dollars in taxes illegally levied on residents and businesses, an audit released Wednesday shows. The report by the state...

WASHINGTON (AP) — President Barack Obama's nominee for transportation secretary — Charlotte Mayor Anthony Foxx — received a friendly reception from senators of both parties Wednesday laced with warnings that the nation needs to make a...

NEW YORK (AP) — "Jenny from the Block" wants the block to buy Verizon phones from her. Singer and actress Jennifer Lopez says she's opening a chain of cellphone stores and a website under the Viva Movil brand. The aim is to sell Verizon phones...

DETROIT (AP) — The Detroit automakers are largely forgoing the traditional two-week summer break at their factories and speeding up production to meet buyers' growing demand for new cars and trucks. Ford Motor Co. said Wednesday that 21 of its...

AMF Bowling Worldwide Inc. plans to merge with New York-based bowling center operator Bowlmor, the Richmond Times-Dispatch reported. The merger is part of the plan for Hanover County-based AMF Bowling to pay creditors’ debts and exit Chapter 11...

By Terri SchwartzZap2it 7:32 p.m. EDT, May 20, 2013 Not only has Sinbad gone bankrupt, but he's also facing a whole lot of debt. The comedian filed for Chapter 13 in April and claims he owes $8.3 million to the IRS for taxes from 1998 to 2006. He also...