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August 23, 2005
name='1'>Sunnier Skies for Atlas
One year after
emerging from chapter 11 bankruptcy,
href='http://www.westchestercountybusinessjournal.com/current_issue//082205wr…'>Atlas
Air Worldwide Holdings Inc. has found relatively sunny skies in
returning to profitability, the Westchester County Business
Journal reported today. But clouds still loom ahead for Atlas Air,
in the form of two challenges: industry conditions and an ongoing labor
dispute with unionized pilots at its Polar Air Cargo Inc. Atlas Air says
that it expects to prevail at improving its financials over the next
year as it did re-establishing its business following six months of
operating under protection from creditors and four years of losses
leading up to its chapter 11 filing.
href='http://www.westchestercountybusinessjournal.com/current_issue//082205wr…'>Read
the full story.
id='2'>Fla. Ice Rink Files for Chapter 11—Again
J.P. Igloo owners
thwarted MJ Squared’s attempts to foreclose on the ice rink by
re-filing
for
chapter 11 bankruptcy despite earlier warnings from a bankruptcy judge
that
doing
so could have negative consequences, the Bradenton Herald
reported
yesterday. Igloo co-owners informed Circuit Judge Marc Gilner on Monday
morning
that
they had re-filed. MJ Squared plans to file an emergency motion for
dismissal
in the bankruptcy case. Until the Igloo is out of the bankruptcy
court’s protection,
the foreclosure case in Manatee County, Fla., cannot move forward.
href='http://www.bradenton.com/mld/bradenton/12451654.htm'>Read
the full story.
id='3'>Interex Seeks Bankruptcy Protection
After abruptly
pulling
the plug on its operations in July, the Interex user group this month
filed
for bankruptcy protection, citing plummeting revenue and increasing
debt,
Computerworld
reported yesterday. The Sunnyvale, Calif.-based organization for users
of
Hewlett-Packard Co.’s systems reported total liabilities of just
over $4
million, in
documents filed at the U.S. Bankruptcy Court for the Northern District
of
California
in San Jose. Interex shut down last month and canceled its HP World
conference, which was due to be held last week in San Francisco. The
user group,
which
claimed to have about 100,000 members, offered no explanation for the
closure
beyond a statement that it was "financially necessary."
href='http://www.computerworld.com/softwaretopics/software/story/0,10801,104
089,00.html'>Read more.
id='4'>FiberMark
Looks to Emerge from Bankruptcy
FiberMark Inc. is
expected to emerge from bankruptcy soon, despite rancor among creditors,
its
CEO
says, according to Boston Globe reports. FiberMark hopes to
emerge
from
bankruptcy by year’s end. The company recinded its original plan
for
emergence earlier this year, after reporting that its three largest
creditors
couldn’t
agree on corporate governance issues.
href='http://www.boston.com/news/local/vermont/articles/2005/08/22/fibermark
_looks_to_emerge_from_bankruptcy/'>Read
the full story.
id='5'>Anchor Reaches Deal
Anchor Glass
Container
Corp. reached a tentative agreement Friday with OCI Chemical Corp. to
continue
supplying soda ash, the prime material in making glass bottles, an
attorney for
Tampa- based Anchor, the Tampa Tribune reported yesterday. A
court document Anchor filed said
Connecticut-based OCI Chemical supplies 65 percent of Anchor’s raw
material.
id='6'>Delta Stock Still Sliding
Shares of Delta Air
Lines Inc. continued to slide yesterday, after a memo from the company
to
pilots
late Friday warned cash reserves have fallen and that last year’s
agreement
seeking to avoid bankruptcy may have to be revisited, the Beaver
County
Times
reported today. Delta’s financial situation has continued to slide
amid
persistently high fuel costs. The company has lost nearly $10 billion
since January
2001 and has warned that while it is trying hard to avoid a chapter 11
filing,
it may not be able to. Some analysts have speculated that Delta might
file
before
new bankruptcy laws take effect Oct. 17 that will make it harder for
companies
to cancel debt in chapter 11.
id='7'>Northwest
Flights: Canceled During Strike?
Nearly 400
Northwest
Airlines flights could be canceled during the first week of a
mechanics’
strike, about triple the number canceled during the same period last
year but still
only
a fraction of the carrier’s schedule, the Associated Press
reported
today. In a hotline message Monday, Northwest said that it expects to
complete 96
percent
of its flights during the first seven days of the strike. The possible
cancellations are based on about 9,900 flights Northwest scheduled for
this week.
During
the same week last year, the airline canceled 125 flights. Northwest has
refused to release statistics on delays or cancellations since the
strike
began
Saturday morning.
href='http://abcnews.go.com/Business/wireStory?id=1060435&CMP=OTC-RSSFeeds03
12'>Read more.