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Maybe, you all heard about, that the bankruptcy procedure of the legendary American company General Motors is now beginning. Fortune magazine has compiled a list of 10 largest bankruptcies in American business history. It seemed to us quite interesting, that's why we present it on the pages of our magazine.10) Texaco (Bankruptcy date: 04.12.87, assets: $34,9 billion)
Texaco went bankrupt in 1987 year. At that time, its assets amounted to almost 35 billion dollars. Oil giant's troubles come after a series of failed merger deals. And in 1987 year it was decided to file for bankruptcy. IN 2001 year Chevron acquired the newly formed company after bankruptcy for 39 billion dollars.
9) Pacific Gas and Electric Co. (Bankruptcy date: 04.06.2001 asset: $36 billion)
A crisis 2000-2001 of the year led to the deregulation of the energy market in California. All this led to serious problems at Pacific Gas and Electric Co., who could not survive the burden that fell on her. In April 2001 the company filed for bankruptcy. Today Pacific Gas and Electric Co continues its work, providing energy 15 миллионов клиентов.
8) Thornburg Mortgage (Bankruptcy date: 05.01.2009 assets: $36,5 billion)
Thornburg Mortgage, based in Santa Fe, was a trust, investment-oriented real estate. Thornburg Mortgage is hit hard by mortgage crisis, leaving all hopes for the bright existence of the company. For a while, the owners of Thornburg Mortgage still had hope., that the company will be able to stay afloat. But it wasn't long. Already 1 April this year, the company declared its bankruptcy.
7) Chrysler (Bankruptcy date: 04.30.2009 assets: $39 billion)
Chrysler bankruptcy ... it was discussed recently. Now the company is waiting for an alliance with the Italian automaker Fiat. How the state did not help the company, all the same, this help did not save her from bankruptcy. At the same time it is interesting, that at one time Chrysler was already on the verge of bankruptcy. It happened in the distant 1979 year. Then the company barely managed to avoid its current fate.. 1,5 a billion dollar loan from the US government saved her. All the money was given already in 1983 year. Alas, the situation has not repeated itself these days.
6) Conseco (Bankruptcy date: 12.17.2002 assets: $61 billion dollars)
Many years of poor management, financial problems and other things led to, that the financial company Conseco has filed for bankruptcy. Это произошло 17 December 2002 of the year. At that time, the company's assets amounted to 61 billion dollars.
5) Enron (Bankruptcy date: 12.02.2001 assets: $65,5 billion)
About the Enron scandal, probably, everyone heard. It was a huge surprise for corporate America.. One of the largest companies in the world, engaged in natural gas and electricity was in a difficult situation. The case about the company lasted for three years. Only in 2004 year she was declared bankrupt. As a result, Enron was liquidated.
4) General Motors (Bankruptcy date: 6.01.2009, assets: $91 billion dollars)
Actually, because of this company, Fortune was reviewed. Auto industry icons have been talking about possible bankruptcy for a long time. And here it is., it really happened. The company owes its creditors a total of 172 billion dollars. GM definitely faces major changes in connection with this bankruptcy. The US government will take about 72,5% in the new merged company. Probably, then this share will be transferred to private hands.
3) WorldCom (Bankruptcy date: 07.21.2002, assets: $103,9 billion dollars)
WorldCom was once a very successful US enterprise. But at one unpleasant moment, problems came on her from all sides.. Her bankruptcy was a dark enough affair, since former CEO Bernie Ebbers was even sentenced to 25 years in prison for fraud. But once it was a real giant in the telecom market.
2) Washington Mutual (Bankruptcy date: 09.26.2008, assets: $327,9 billion)
This bank is largely a victim of the current economic crisis.. As a result, bankruptcy, which happened back in September 2008 of the year, just at the height of the crisis. The bank's assets at that time amounted to more than 327 billion dollars! Think about this amount!
1) Lehman Brothers (Bankruptcy date: 09.15.2008, assets: $691 billion)
Finally, largest bankruptcy in US history - the collapse of the investment bank Lehman Brothers, shocked the public in September 2008 of the year. Then it seemed, that the crisis will take everyone. Lehman Brothers was the fourth largest investment firm on Wall Street. Well, about assets almost in 700 billions of dollars will just talk unnecessarily.
According to Fortune.com
(With)biztimes.ru
