The composition of the Top 10 List of public bankruptcy filings for 2014 indicates that the U.S. has largely left behind the fraud, excess, abuse, and improvidence that dominated the bankruptcy landscape during the Great Recession. Continuing a trend that began in 2012, only a single representative from the banking and financial services industry made the cut. The remainder reflect more recent market-driven developments, including a drop in cargo shipping rates worldwide and plunging fossil fuel, electricity, and nuclear power prices . Other debtors on the Top 10 List for 2014 were undone by product/infrastructure obsolescence, slowing economic growth abroad, and faulty product design. Each company gracing the Top 10 List for 2014 entered bankruptcy with assets valued at more than $1 billion. Five of the 10 both filed for and emerged from bankruptcy in 2014, all but one as a reorganized entity.
By the way, you should know that there were worst than what we American faced on 2014. And if you have any doubt, check out the article on the 12 largest bankruptcies in US history.
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