It sounds like an odd thought. Is it even possible? You may remember from high school or college a well-known economist named Adam Smith who wrote The Wealth of Nations. You may remember his famous “invisible hand” that guides nations to prosperity through capitalism and the desire of all to succeed. Another lesser known part [...]
A great American magazine has been approved in bankruptcy court for a turnaround plan. Bondholders had demanded certain revisions to the original plan but the approval is now complete: U.S. Bankruptcy Judge Robert Drain said yesterday he would approve the so-called disclosure statement, which explains terms of the reorganization to creditors. Some changes still must [...]
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