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THE818NOW
November 29, 2011
The parent company for American Airlines, the nation's third largest carrier, filed for bankruptcy, citing high labor costs and a volatile economy. American Airlines, the largest carrier at Los Angeles International Airport, and a carrier at Bob Hope Airport, sought to assure passengers that the filing would not affect their travel plans, saying all tickets, reservations and reward points would be honored. "American Airlines remains open for business," said Craig Kreeger, the airline's vice president for customer experience.
THE818NOW
By Alene Tchekmedyian, alene@tchekmedyian@latimes.com | December 26, 2012
City Council candidate David Nos filed for Chapter 13 bankruptcy last December -- a "business decision" he said he was forced to make after encountering circumstances beyond his control amid a rough recession. Nos had been running his printing business - CBFS Inc. - in Burbank for about 30 years. In spring 2010, he renewed leases on two Xerox machines for four years at roughly $2,000 a month, and a third machine for five years, also at roughly $2,000 a month, according to the lease agreement listed in a lawsuit filed by Xerox.
BUSINESS
By Zain Shauk | March 9, 2010
A U.S. bankruptcy court judge this week extended a deadline for the debt-ridden operator of the Burbank Town Center and Glendale Galleria to finalize plans to emerge from Chapter 11 protection, likely delaying any deal, experts said. General Growth Properties Inc., of Chicago, which owns the Galleria and runs the local malls, will have until Sept. 15 to finalize its plans as it also considers at least four potential suitors, the company said. News of the extension and the company’s annual financial results this week boosted stocks Friday, the first day the company was listed on the New York Stock Exchange since it filed for bankruptcy protection in April 2009 in what experts considered the largest real estate failure in national history.
NEWS
January 23, 2002
Karen S. Kim MEDIA DISTRICT NORTH -- Kmart Corp, the parent company of the Kmart store on San Fernando Boulevard, filed for Chapter 11 bankruptcy Tuesday, citing a slow holiday sales season and strong competition from Wal-Mart Stores Inc. and Target Corp. as reasons for the decision. Chapter 11 bankruptcy allows a debtor to restructure debts under court supervision. Credit Suisse First Boston, Fleet Retail Finance Inc., General Electric Capital Corp.
NEWS
May 23, 2009
NO RAISES FOR COUNCIL The council on Tuesday unanimously opted against raising its salaries, citing a tough budgeting process for the 2009-10 fiscal year. Council members earn monthly salaries of $1,074.99 and the 5% bump would have raised the salary to $1,128.74. However, because the council in 2008 passed up the opportunity to take a raise, members faced the decision of whether to take a 10% hike. WHAT IT MEANS Councilman Dave Golonski on the campaign trail proposed reducing council compensation by 5%. At Tuesday?
NEWS
By Bill Kisliuk, bill.kisliuk@latimes.com | November 20, 2010
One large clothing retailer has shut its doors just as another cuts the welcome ribbon at the Burbank Town Center. Loehmann's department store at Burbank Boulevard and San Fernando Road abruptly shut its doors Nov. 8, days before the New York-based retailer filed for Chapter 11 bankruptcy protection. On Nov. 19, Burlington Coat Factory opened at Third Street and Magnolia Boulevard, the former Mervyns site. A spokeswoman for Loehmann's said that the Burbank outpost of the discount fashion chain was "underperforming," and that the chain was focusing its efforts on busier stores, including those in Beverly Hills and Pasadena.
NEWS
By Max Zimbert | February 13, 2010
Burbank public education officials are reporting that about 40 students lack academic records from a private Armenian school that filed for bankruptcy last year. An unknown number of students who left Scholars Armenian School and Arts Center for elementary, middle and high schools in Burbank Unified lack their records, forcing administrators to consider starting them off with clean slates, said Cathy Krailo, an assistant guidance counselor at John Muir Middle School. ?We can?
NEWS
By Tania Chatila | June 21, 2006
GLENDALE ? Two executives of a former Santa Monica advertising agency and the Glendale attorney who represented the agency were convicted Monday of conspiring to defraud NBC Universal, Sears, Roebuck and Co. and other corporate companies out of more than $40 million, officials said. A jury found Thomas Edward Rubin, the chairman and chief executive officer of Focus Media Inc., and Thomas Patrick Sullivan, the agency's chief financial officer, guilty on more than 20 counts each including conspiracy, mail fraud, wire fraud, bankruptcy fraud and money laundering, said Thom Mrozek, a spokesman for the United States Attorney's Office.
NEWS
June 17, 2011
There’s been too many stories in recent years of businesses folding, of employees left to scramble for another career while standing in the unemployment line. It could have been the case again when Alfredo’s Granada restaurant on Victory Boulevard, a landmark for nearly 40 years, closed under the weight of bankruptcy about eight months ago. But an all too familiar story took an unexpected turn when a group of employees pooled their resources and became Granada Restaurant Employees Inc. On March 30, a U.S. bankruptcy judge approved their purchase of the restaurant for $85,000, and on Monday, the employees reopened the landmark as the Granada.
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THE818NOW
By Alene Tchekmedyian, alene@tchekmedyian@latimes.com | December 26, 2012
City Council candidate David Nos filed for Chapter 13 bankruptcy last December -- a "business decision" he said he was forced to make after encountering circumstances beyond his control amid a rough recession. Nos had been running his printing business - CBFS Inc. - in Burbank for about 30 years. In spring 2010, he renewed leases on two Xerox machines for four years at roughly $2,000 a month, and a third machine for five years, also at roughly $2,000 a month, according to the lease agreement listed in a lawsuit filed by Xerox.
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THE818NOW
November 29, 2011
The parent company for American Airlines, the nation's third largest carrier, filed for bankruptcy, citing high labor costs and a volatile economy. American Airlines, the largest carrier at Los Angeles International Airport, and a carrier at Bob Hope Airport, sought to assure passengers that the filing would not affect their travel plans, saying all tickets, reservations and reward points would be honored. "American Airlines remains open for business," said Craig Kreeger, the airline's vice president for customer experience.
NEWS
June 17, 2011
There’s been too many stories in recent years of businesses folding, of employees left to scramble for another career while standing in the unemployment line. It could have been the case again when Alfredo’s Granada restaurant on Victory Boulevard, a landmark for nearly 40 years, closed under the weight of bankruptcy about eight months ago. But an all too familiar story took an unexpected turn when a group of employees pooled their resources and became Granada Restaurant Employees Inc. On March 30, a U.S. bankruptcy judge approved their purchase of the restaurant for $85,000, and on Monday, the employees reopened the landmark as the Granada.
NEWS
By Bill Kisliuk, bill.kisliuk@latimes.com | November 20, 2010
One large clothing retailer has shut its doors just as another cuts the welcome ribbon at the Burbank Town Center. Loehmann's department store at Burbank Boulevard and San Fernando Road abruptly shut its doors Nov. 8, days before the New York-based retailer filed for Chapter 11 bankruptcy protection. On Nov. 19, Burlington Coat Factory opened at Third Street and Magnolia Boulevard, the former Mervyns site. A spokeswoman for Loehmann's said that the Burbank outpost of the discount fashion chain was "underperforming," and that the chain was focusing its efforts on busier stores, including those in Beverly Hills and Pasadena.
BUSINESS
By Zain Shauk | April 7, 2010
An aggressive bidding war for the operator of the Burbank Town Center and Glendale Galleria may be in the works after the company filed a reorganization plan last week in bankruptcy court, a move that has brought the local malls a step closer to full health, experts said. The plan from General Growth Properties Inc. would allow it to emerge from Chapter 11 bankruptcy protection as two independent companies with the backing of $6.55 billion from three investors, the firm said. But more than establishing its own restructuring plan, the filing sets the stage for other firms, like rival Simon Properties Inc., to make takeover bids.
BUSINESS
By Zain Shauk | March 9, 2010
A U.S. bankruptcy court judge this week extended a deadline for the debt-ridden operator of the Burbank Town Center and Glendale Galleria to finalize plans to emerge from Chapter 11 protection, likely delaying any deal, experts said. General Growth Properties Inc., of Chicago, which owns the Galleria and runs the local malls, will have until Sept. 15 to finalize its plans as it also considers at least four potential suitors, the company said. News of the extension and the company’s annual financial results this week boosted stocks Friday, the first day the company was listed on the New York Stock Exchange since it filed for bankruptcy protection in April 2009 in what experts considered the largest real estate failure in national history.
NEWS
By Max Zimbert | February 13, 2010
Burbank public education officials are reporting that about 40 students lack academic records from a private Armenian school that filed for bankruptcy last year. An unknown number of students who left Scholars Armenian School and Arts Center for elementary, middle and high schools in Burbank Unified lack their records, forcing administrators to consider starting them off with clean slates, said Cathy Krailo, an assistant guidance counselor at John Muir Middle School. ?We can?
NEWS
May 23, 2009
NO RAISES FOR COUNCIL The council on Tuesday unanimously opted against raising its salaries, citing a tough budgeting process for the 2009-10 fiscal year. Council members earn monthly salaries of $1,074.99 and the 5% bump would have raised the salary to $1,128.74. However, because the council in 2008 passed up the opportunity to take a raise, members faced the decision of whether to take a 10% hike. WHAT IT MEANS Councilman Dave Golonski on the campaign trail proposed reducing council compensation by 5%. At Tuesday?
NEWS
By Chris Wiebe | December 9, 2006
LOS ANGELES — The company that owns property slated to become part of the Platt project in the Burbank Media Center has filed for Chapter 11 bankruptcy in Los Angeles Superior Court. PW LLC's Nov. 21 filing comes in the midst of court proceedings regarding the company's $28-million loan from lender DB Burbank, which was due for complete repayment on Aug. 31, 2005. Though the deadline was extended to Feb. 28, the loan fell into default status when payment was not received by that second deadline.
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