Arizona’s Snowflake, Still Generating Power, Melts to Bankruptcy

Snowflake White Mountain Power, LLC, a biomass power plant in Arizona, recently filed for Chapter 11 bankruptcy protection in effort to avoid having its contract put to rest by the Salt River Project.  The bankruptcy follows some long months of back-and-forth debates between Snowflake White Mountain Power and Salt River Project over both renegotiated agreements […]

Baltimore’s B&O Building Owners File for Chapter 11

Baltimore and Charles Associates, LLC, the owner of Baltimore’s famous B&O Building, has recently filed for Chapter 11 bankruptcy—on the heels of converting the property to a Hotel Monaco.  The bankruptcy protection was sought just a day prior to Baltimore and Charles were to appear in court over contractors looking to receive their $630,000 in […]

Modification Program May Need Its Own Modification

According to various reports, over 40% of homeowners receiving assistance from Obama’s program, created to support those facing foreclosure, have officially opted out. An estimated 530,000 borrowers, as of July, have left the program—this is according to the Treasury Department.  Meanwhile, since March of last year, roughly 1.3 million homeowners have joined and signed up […]

Is HAMP Really Helping Anyone?

According to a recent report from the Troubled Asset Relief Program’s (TARP) Special Inspector General, the leading financial bailout funds’ watchdog, this country’s mortgage relief programs are failing miserably.  TARP was introduced and put into action in the Fall of 2008.  TARP is responsible for purchasing assets and various equities in order to improve the […]

Successful AZ Homebuilder Generates Fantastic Market Share

Recent housing market data, from Phoenix, Arizona shows Fulton Homes, produced a 6.88% market share for June based on its closings. The large homebuilder has closed 669 homes contrary to the failing economy and Arizona’s high rate of unemployment. The market share is one of the largest of its kind for the company, for new […]

Bankrupt Casino Makes a Bid for Itself

According to Reuters news, a Nevada judge has recently accepted a $772 million bid for the bankrupt Station Casino, Inc.—from its present owners, Frank and Lorenzo Fertitta. The company was founded by the owners’ father, Frank Fertitta Jr., in 1976. Station Casinos, established and based in Las Vegas, filed for bankruptcy just last year and […]

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