10 biggest bankruptcies in US history...

[Ns1]

wowzers

10. United Airlines
Assets: $25.2 billion
Date Filed: Dec. 9, 2002

9. Pacific Gas and Electric
Assets: $29.8 billion
Date Filed: April 6, 2001

8. Global Crossing
Assets: $30.2 billion
Date Filed: Jan. 28, 2002

7. Refco
Assets: $33.3 billion
Date Filed: Oct. 17, 2005

6. Financial Corp. of America
Assets: $33.9 billion
Date Filed: Sept. 9, 1988

5. Texaco
Assets: $35.9 billion
Date Filed: April 12, 1987

4. Conseco
Assets: $61.4 billion
Date Filed: Dec. 18, 2002

3. Enron
Assets: $63.4 billion
Date Filed: Dec. 2, 2001

2. Worldcom
Assets: $103.9 billion
Date Filed: July 21, 2002

1. Lehman Brothers
Pre-Bankruptcy Assets: $639 billion
Date Filed: Sept. 15, 2008

http://consumerist.com/5051220...ruptcies-in-us-history

 

[funkymatt]

holy shit thats a lot of money.

 

[vi edit]

Wow. Add up 1-9 and take that times 50% and it's about equal to #1.

Holy crap.

 

[KlokWyze]

!

 

[Nitemare]

Anyone want to bet that:
* Richard S. Fuld, Jr., Chairman and Chief Executive Officer
* Michael L. Ainslie
* John F. Akers
* Roger S. Berlind
* Thomas Cruikshank
* Marsha Johnson Evans
* Sir Christopher Gent
* Roland A. Hernandez
* Dr. Henry Kaufman
* John D. Macomber

are sitting on a shitload of money and are set for life?

http://www.forbes.com/lists/20...rd-S-Fuld-Jr_A9P0.html

I wish I could get paid 72 million dollars to run companies into the ground

 

[JTsyo]

01-02 wasn't a good time for companies either huh.

 

[TallBill]

ouch

 

[compman25]

Originally posted by: vi edit
Wow. Add up 1-9 and take that times 50% and it's about equal to #1.

Holy crap.

Your math skills win. :laugh:

 

[sdifox]

How much would have sterns, freddie, fanny and AIG been if they were not bailed?

And did the US national debt clock jump because of these takeovers?

http://www.brillig.com/debt_clock/

 

[vi edit]

Originally posted by: compman25

Originally posted by: vi edit
Wow. Add up 1-9 and take that times 50% and it's about equal to #1.

Holy crap.

Your math skills win. :laugh:

Sorry, add 50%.

More like my language skills suck.

 

[Kadarin]

So how many "months in Iraq" does all that add up to?

 

[Joemonkey]

Originally posted by: vi edit

Originally posted by: compman25

Originally posted by: vi edit
Wow. Add up 1-9 and take that times 50% and it's about equal to #1.

Holy crap.

Your math skills win. :laugh:

Sorry, add 50%.

More like my language skills suck.

by 1-9 do you mean 2-10?

 

[darkxshade]

Originally posted by: sdifox
How much would have sterns, freddie, fanny and AIG been if they were not bailed?

And did the US national debt clock jump because of these takeovers?

http://www.brillig.com/debt_clock/

AIG is over 1 trillion in assets

 

[sdifox]

Originally posted by: darkxshade

Originally posted by: sdifox
How much would have sterns, freddie, fanny and AIG been if they were not bailed?

And did the US national debt clock jump because of these takeovers?

http://www.brillig.com/debt_clock/

AIG is over 1 trillion in assets

auch...so figure at best 20cent on the dollar is saved?

How much of that trillion is hard assets?

 

[bobsmith1492]

Huh, it's been a good decade for big companies it would seem... :$

Yeah all of those were in the last 10 years.

 

[The Boston Dangler]

Originally posted by: Kadarin
So how many "months in Iraq" does all that add up to?

roughly 5 years

 

[ElFenix]

Originally posted by: bobsmith1492
Huh, it's been a good decade for big companies it would seem... :$

Yeah all of those were in the last 10 years.

1988 and 1987 was in the last 10 years?

 

[Atomic Playboy]

Originally posted by: ElFenix

Originally posted by: bobsmith1492
Huh, it's been a good decade for big companies it would seem... :$

Yeah all of those were in the last 10 years.

1988 and 1987 was in the last 10 years?

Indeed. He fails at math.

But it is worth noting that all of these took place under two Republican presidents (Reagan and Bush) who favored trickle-down economics and shot the National debt into the stratosphere. Good economic sense; they haz it.

 

[darkxshade]

Originally posted by: ElFenix

Originally posted by: bobsmith1492
Huh, it's been a good decade for big companies it would seem... :$

Yeah all of those were in the last 10 years.

1988 and 1987 was in the last 10 years?

8/10 since 2000 does say something though

 

[SunnyD]

Funny, if you think about it Leahman and AIG's assets are probably grossly overinflated due to the last several years of financial fudgery, hence the HUGE numbers. Subprime, etc - their assets are actually worth pennies on the dollar, which is why they're in so much trouble. The market rode a bubble, and now the bubble's popping and people are calling companies on their corporate bullshit. It's about damn time.

 

[thecrecarc]

Originally posted by: darkxshade

Originally posted by: ElFenix

Originally posted by: bobsmith1492
Huh, it's been a good decade for big companies it would seem... :$

Yeah all of those were in the last 10 years.

1988 and 1987 was in the last 10 years?

8/10 since 2000 does say something though

Inflation

 

[Eli]

How the fuck did Texaco manage to go bankrupt?

 

[So]

Originally posted by: Eli
How the fuck did Texaco manage to go bankrupt?

You do understand that "big oil" isn't historically that profitable, right?

http://www.wtrg.com/oil_graphs/oilprice1947.gif

in the late 1980s, oil prices were near all time lows.

 

[Eli]

Originally posted by: So

Originally posted by: Eli
How the fuck did Texaco manage to go bankrupt?

You do understand that "big oil" isn't historically that profitable, right?

http://www.wtrg.com/oil_graphs/oilprice1947.gif

in the late 1980s, oil prices were near all time lows.

I don't know if I would say they aren't "that profitable" historically, but that's not the reason they went bankrupt.

Apparently in 1985, Pennzoil won a 10.5 billion dollar settlement against them. They filed for bankruptcy in 1987.

 

[dmcowen674]

Originally posted by: SunnyD

The market rode a bubble, and now the bubble's popping and people are calling companies on their corporate bullshit.

It's about damn time.

Originally posted by: Eli
How the fuck did Texaco manage to go bankrupt?

The guys in P&N say all the time they don't make any money on gasoline, in fact some say they are losing money.

They also use the excuse that the gas stations rely on people coming in the convenience store to buy items marked up to make a profit.

Funny because here in New Jersey not only do very few stations have a store they also have gas attendants (people not allowed to touch gas pumps here, illegal) and the gas is the same if not lower than many states.

I'm with Sunny, bout damn time they go down in flames.

I'm pissed off Bush is rescuing them with my tax money especially when Bush and his cronies made the situation to begin with and they have the nerve to continue to blame Clinton and the Democrats.

Americans that believe this nonsense should be put to death as Traitors.