
Just two weeks after filing for Chapter 11 bankruptcy protection, beleaguered toy retailer Toys R Us has debuted a plan it hopes will save the company.
Spoiler alert: It's awful, and it won't work.
By Casey Wilson, Associate Editor, Money Morning -
Just two weeks after filing for Chapter 11 bankruptcy protection, beleaguered toy retailer Toys R Us has debuted a plan it hopes will save the company.
Spoiler alert: It's awful, and it won't work.
By Casey Wilson, Associate Editor, Money Morning -
Just two weeks after filing for Chapter 11 bankruptcy protection, beleaguered toy retailer Toys R Us has debuted a plan it hopes will save the company.
Spoiler alert: It's awful, and it won't work.
By Casey Wilson, Associate Editor, Money Morning -
Here are five businesses we suspect won’t survive 2017, so you can be ahead of the curve now.
By Money Morning Staff Reports, Money Morning -
But Money Morning's D.R. Barton offers a different perspective...
By Money Morning Staff Reports, Money Morning -
You won't believe how much their assets were worth prior to their epic downfalls...
By Money Morning Staff Reports, Money Morning -
The slogan for Ashley Madison is that life is short, so married individuals should have an affair if they feel so inclined.
Some people loathe the site for obvious reasons, but former CEO Noel Biderman felt he was just providing a platform for a market that already existed.
By Money Morning Staff Reports, Money Morning -
Here's a look at five companies that filed for Chapter 11 bankruptcy. Each one has a very well-known name, but most people don't know these companies went under, then later recovered.
There's even one major league sports team that almost went belly up...
By Money Morning Staff Reports, Money Morning -
And, no, teachers didn't make the list. Everyone knows they're way underpaid...
By Money Morning Staff Reports, Money Morning -
Here's an infographic of the most bankrupt states in the country right now.
Check to see where your home state ranks.
It just might be time to move...
By Money Morning Member Alert, Money Morning -
Detroit's high-profile municipal bankruptcy is well-documented. And although the city once representative of America's manufacturing prowess technically proclaimed itself out of bankruptcy in December, 2014, it is hardly out of an extended period of fiscal crisis.
By David Zeiler, Associate Editor, Money Morning • @DavidGZeiler -
Few among us haven't dreamed of sudden riches - the financial windfall of a big legal settlement, an unexpected inheritance, a winning lottery ticket, or, for the young and athletically gifted, a lucrative contract with a major professional sports franchise.
But it turns out that few are prepared for a financial windfall when it comes their way.
Nowhere is this more obvious than with big sports stars.
Despite the proliferation of multimillion-dollar contracts, an astonishing number of professional athletes are forced to declare bankruptcy within a few years of hanging up their jerseys.
In the National Football League, for example, where the average salary is $1.9 million, 78% of former players are in bankruptcy within five years of retirement. That figure is 60% for former National Basketball Association players, who earn an average of $5.5 million a year as players.
How can people so generously compensated go broke so quickly?
Part of it has to do with youth, but many of the mistakes athletes make with the financial windfall of a professional sports salary also are made by regular people who suddenly come into large sums of money.
There's a lot we all can learn from their mistakes. When it comes to financial windfalls, it's best to know what to expect ahead of time so you can put the money to work for you instead of squandering it.
"Every single day, people come into large sums of money, whether it's a thousand dollars or a million, and without proper planning, funds quickly disappear," writes Jim Wang in U.S. News and World Report. "Just look at the horrible stories you often hear of lottery winners, and you'll have enough evidence that everyone needs a little preparation, even if you don't expect to get a windfall."
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By Jason Simpkins, Managing Editor, Money Morning -
By Guest Editorial, Money Morning -
By William Patalon III, Executive Editor, Money Morning -
By Bob Blandeburgo, Associate Editor, Money Morning -
By Jason Simpkins, Managing Editor, Money Morning -