Today's panelists are WAMC’s Alan Chartock and WAMC newsman Ray Graf and special guest - Professor Christine Chung, co-director of the joint Albany Law School / University at Albany Institute for Financial Market Regulation. Joe Donahue moderates.
Topics include: Detroit's Bankruptcy Other recent notable bankruptcies Upstate New York municipalities' economic straits
The City of Detroit’s declaration of bankruptcy has left some in New York wondering whether any upstate cities will be next. State officials say they are trying to help with financial planning guidance, but local governments say more needs to be done.
State Comptroller Tom DiNapoli has created a fiscal stress monitoring system that measures the financial health of New York’s local governments. A preliminary report found two dozen cities, counties and villages are moderately to severely fiscally stressed. DiNapoli say he hopes they can avoid the fate of Detroit.
Just over a year after emerging from bankruptcy, the Friendly’s restaurant chain on Monday introduced redesigned stores and updated menus.
Friendly’s , which lost business over the last decade to casual dining competitors, is hoping to get people back into its booths in renovated restaurants that have a retro-look. A new menu includes classic best sellers and new items. CEO John Maguire says there is an emphasis on better food quality and faster service.
NEW YORK (AP) -- Video game maker Atari's U.S. operations have filed for Chapter 11 bankruptcy protection in an effort to separate from their French parent company, which is filing a similar motion separately in France.
In a statement, Atari says the move is necessary to secure investments it needs to grow in mobile and downloadable video games.
Curt Schilling is taking a leave of absence from his job as an analyst for ESPN after his video gaming company filed for bankruptcy.
ESPN spokesman Mike Soltys says on Twitter that the network and retired pitcher "mutually agreed" to the leave as he works through "his business issues." He says Schilling is expected to return to the air later this season.
Schilling's 38 Studios filed for bankruptcy June 7. Federal and state authorities launched probes into the studios, which received a $75 million loan guarantee deal from the state of Rhode Island.