However, personal bankruptcy is a means of providing a fresh start to individuals who are deep in debt due to various reasons. The discharge policy of bankruptcy is designed with the intention of individuals maintaining incentives to continue working productively and earning an income (Han & Li, 2007)
, 2009). Interestingly, the rates of bankruptcy fall within the next few years after the casino opens, only to rise again in the eighth year and in years following (Moorman & Garsky, 2008)
Under the Chapter 7 provision code, individuals filing are required to give up all of their property beyond exemptions allowed by the state. This property is given up to a bankruptcy trustee so it can be sold and distributed to the creditors (Sullivan et al
"Going forward, Kmart will be led by a board that has a substantial investment in the company," he said. (Haber, "New Executive," 2003) In terms of its market strategy and positioning Kmart has since made attempts both to increase its revenue amongst its traditional Midwestern base, as well as to expand its outreach to new American communities, particularly the burgeoning Southwestern Hispanic demographic
"Going forward, Kmart will be led by a board that has a substantial investment in the company," he said. (Haber, "New Executive," 2003) In terms of its market strategy and positioning Kmart has since made attempts both to increase its revenue amongst its traditional Midwestern base, as well as to expand its outreach to new American communities, particularly the burgeoning Southwestern Hispanic demographic
K-Mart's Bankruptcy -- a Case Study Why did the store synonymous with low prices for relatively high quality, the famed purveyor of blue-light specials, fall into dissolution and financial despondency and eventual bankruptcy in January of 2002? (CNN, 2002) The fall of Kmart the mega-store cannot be pinned simply to single internal or external phenomena, although the company was misguided and mismanaged on multiple levels, and the economy was enduring one of its rockiest retailing passages at the time. What left Kmart "singing the blue-light blues," (LaMonica, 2002) can be subscribed to a variety of marketing, positioning, and branding phenomenon, as well as economic miscalculations and the company's leadership
S. railroads came under federal control - in order to prevent the railroad owners from using their monopolistic control of the tracks to punish the American economy (Bethune 31)
One of the signs of how badly regulation was working was the fact that most of the railroads in the northeastern United States had gone bankrupt. Among these railroads was the Penn Central; it was at the time the country's worst commercial bankruptcy (Morrison and Winston 28)
Aliber (2011), noting in his book Preludes to the Icelandic Financial Crisis that the primary cause of the bust was a boom that "generated large imbalances," in academic parlance (p. 43) went on to point out the nature of the problem in concise terms was simple: "tax cuts, an appreciated exchange rate, and an easing in household credit constraints stimulated private consumption" (Aliber, 2011, p
43) contributed to the inflation of the Icelandic bubble economy. The ability for Icelanders to spend more in the aftermath of an economic recession proved too tempting and the economy became "the most overheated in the OECD area" (Christiansen, 2011, p
As goes Iceland, so goes the rest of the world. In effect, Iceland's banks had gotten too big to save (Danielsson, 2008)
In 2008. But the housing bubble was not the only bubble in Iceland: the stock market became an enormous bubble as well, comparable today to what China's stock market is doing (Deng, 2015)
Easy credit and overleveraged accounts full of foreign "assets" caused Iceland to experience rapid inflation before going bust. Iceland's Transition Beginning in 2000, Iceland began to focus more and more on the financial sector than ever before in the country's history (Jackson, 2008)
The IMF agent told Lewis that "Iceland is no longer a country. It is a hedge fund" (Lewis, 2011, p
Being able to get to work should not be sacrificed because you will need that income. Only when all other options have been exhausted, and that can include borrowing from family if that is an option, should bankruptcy be considered (Palmer, 2009)