The “Wall Street Journal” reported that the number of SBA guaranteed 7(a) loans was down 36% in fiscal 2009, totaling $9.3 billion, which was $3.4 billion less than the previous fiscal year. Reasons for the drop-off in SBA loans include scarce credit, and the riskier nature of small business loans, which hit a 12% failure […]
FairPoint Communications filed for bankruptcy under Chapter 11 on October 26, 2009, hampered by interest payments resulting from the excessive debt it took on in the $2.3 million acquisition of Verizon’s northern New England landlines and Internet network in early 2008. Remarkably, FairPoint Communications CEO David Hauser was quoted as saying this about the bankruptcy […]
The “Sixty Minutes” segment last Sunday on people who file fraudulent claims for Medicaid reimbursements has me hopping mad, and if you take the time to watch it, you will be too. What I would like to know is why someone doesn’t put in an added step in the auditing process, whereby the supposed recipients […]
R. H. Donnelley filed for bankruptcy in May of 2009 after missing a $55 million interest payment to creditors, but the seeds of its bankruptcy were planted more than five years earlier when Dex Media borrowed $1.5 billion to pay a special dividend to its private equity owners, including Carlyle Group and Welsh, Carson, Anderson […]
Shane Company, a family-owned $200 million jewelry retailer filed for Chapter 11 bankruptcy early in 2009, partly attributing “cost overruns and functionality problems on an SAP software implementation,” “ComputerWorld” reported. The company also acknowledged that the recession, and slow holiday sales were the biggest cause of its problems, as sales slumped from $275 million in […]
Woodstock Film Festival panelists discussing the Future of Independent Filmmaking seemed to agree that the specialty divisions of the major studios are selecting many fewer films for broad theatrical release, perhaps as few as twenty per year.  For independent filmmakers, the current environment is almost like going back to 1975, before the establishment of specialty […]
David@RudofskyAssociates.com
Phone: 1-914-216-3566
Based in New York City. Doing business nationally.
