Bankruptcy Quotations

Socialism is the gradual and less violent form of communism, and socialist is the project of the European Union, which was born in Maastricht in 1992. The intent was to save socialism in Europe after the fall of the Berlin Wall and the predictable bankruptcy of the welfare state in the West as well.

George W. Bush was a silver spoon dolt with no record to speak of other than bankruptcy and selling tropical plants, and we let him sail into the White House, but Barack talks about religious fundamentalism and guns being prevalent in poor areas, and we roast him for weeks?

In the 1970s, New York City avoided bankruptcy because wise political leaders like Gov. Hugh L. Carey believed both in strong labor unions and robust banks and companies.

Generally speaking, companies get into bankruptcy as a kind of meritocracy. Somebody made some sort of big mistake, to get into bankruptcy, and very often, a part of the mistake is too much leverage.

Family responsibility, yes, and always. Family bankruptcy due to the cruel rules of government, no.

We cannot allow the bankruptcy of a euro member state like Greece to turn into a second Lehman Brothers.

The unions and the auto companies have been unable to put a deal together that fundamentally restructures the industry. It needs to get done. The only way it's really going to get done is in bankruptcy court. They should have done it six months ago they should do it now.

Today it is evident that we have two political parties: the Tax and Spenders and the No-Tax and Spenders. Neither party is fiscally conservative. Is there no room at the inn for an honest conservative? A conservative who makes the case for smaller government on its merits and not just as the fallback option when fiscal bankruptcy threatens?

I think there will be no government bankruptcy in Greece.

Most unfortunately, Enron's plunge into bankruptcy court also cost many of its rank-and-file employees their savings.

The dearth of business activity on the traditional day of rest makes Sunday an ideal time to declare insolvency. Bankruptcy petitions are time-stamped to the minute, instantly dividing a failed company's dealings into pre-bankruptcy transactions and post-bankruptcy transactions.

Enron had already collapsed and filed for bankruptcy protection by the beginning of 2002. But despite complaints from short sellers that corporations had used accounting gimmickry to inflate their profits, many investors thought the crisis at Enron was an isolated case.

The obligations of our representatives in Washington are to protect our liberty, not coddle the world, precipitating no-win wars, while bringing bankruptcy and economic turmoil to our people.

Bankruptcy is about financial death and financial rebirth. Bankruptcy is the great American story rewritten. We're a nation of debtors.

Know what happens when an individual declares bankruptcy and how it affects his or her life.

Bankruptcy laws allow companies to smoothly reorganize, but not college graduates burdened by student loans.

Enron Field in Houston, the Trans World Dome in St. Louis and PSINet Stadium in Baltimore are just three of the modern-day coliseums named for companies that have found new homes in bankruptcy court.

Bankruptcy exposes the economic vulnerability and insecurity of middle class women.

Most women file for bankruptcy in the aftermath of a serious medical problem, a job loss, or a family break up. It is hard to protect against those.

Other countries around the world make employees and retirees first in the priority. For example, in Mexico, the bankruptcy laws say if a company wants to go bankrupt... obligations to employees and retirees will have a first priority. That has an effect on every negotiation that takes place with every company in Mexico.

We believe that the entire automotive value chain is just beginning a long restructuring process. Dana's bankruptcy is likely just the tip of the iceberg given the burdensome high fixed cost structure facing the domestic auto industry.

There is no question that these agreements represent a major step backwards for our union, ... We made these agreements only because it is painfully obvious that the results of bankruptcy proceedings would have been far worse. The company has been provided with everything it needs to survive. We can only hope that they will not squander the opportunity our members have provided them.

We remain confident GM will offer some assistance to Delphi, but bankruptcy risk cannot be ignored. We think GM would find it hard to justify not offering its struggling, former captive supplier, Delphi, some form of assistance.

What we're saying is the rumor is absolutely false. We are not preparing a bankruptcy filing.

What they're doing is not the least bit subtle. The result of all the innovation will be bankruptcy for Netscape,

We found it interesting that some states that historically have low rates of bankruptcy have high propensities. I think some of it's going to be related to the economic changes. For states to see that kind of difference, some things have changed.

United fully complied with the solicitation and tabulation procedures, which were approved by the bankruptcy court.

United certainly made a lot of cost reductions. But whether they really had a metamorphosis to compete without the help of a bankruptcy court remains to be seen.

We feel that we can get a better settlement in negotiations voluntarily with Northwest management than we can get through the bankruptcy court,

With these filings before the court, the countdown has begun, ... We expect to formally exit bankruptcy in early 2006, with a target exit date of February 1st.

We're a company in bankruptcy and have been operating on borrowed money.

We have bankruptcy because we recognize that bad things happen to good people. It's meant to give someone a fresh start. That idea is pretty well gone now. The new rules turn a compassionate system into a punitive one.

Let's face it, a lot of these bankruptcy lawyers are heartless. They'll tell people to go ahead and file because they'll get a fee out of it.

shouldn't have to jump through hoops to get bankruptcy relief.

Miller has clearly chosen bankruptcy over collective bargaining to restructure the company. Delphi is using a bankruptcy judge to begin moving in the direction of Chinese wages and benefits.

My experience with debtors is that even if you get your life back on track, the experience of bankruptcy and the sense of failure stays with you.

More than 50 percent of the people who file bankruptcy file it incorrectly, and it is unnecessary in many of the cases. They have plenty of money to pay their bills, but are too disorganized.

Moody's chairman, Clifford Alexander, was on the board of WorldCom up until last year, ... The biggest bankruptcy in U.S. history, and the chairman of Moody's was on the board. There's no way that should happen. He also shouldn't be on the board of the National Association of Securities Dealers. They're supposed to be independent.

More often than not, when you have a bankruptcy and the company emerges -- particularly when new equity is invested -- you can expect the current board will no longer be in place. It's just normal.

nothing in the bankruptcy code requires companies to skip their pension funding payments.

People wait until the last minute to go to the bankruptcy lawyer's office because they don't want to be in the bankruptcy lawyer's office. We're hoping that people recognize that bankruptcy is still an option for them, and that if their home is at stake, that they need to get in earlier to get it done.

One thing is sure, bankruptcy court is unlike any other law it really can have real life implications for everyone.

I wouldn't expect to see any major effects of these bankruptcy filings on passengers. I think both carriers will restructure successfully and continue flying.

If we don't have the CAP program, then I'm going to the bankruptcy court. It would be the dissolution of the agency.

I don't even know what a bankruptcy risk score is.

I don't buy the bankruptcy talk. I think they have the resources to get through this. The stock has gotten so banged up, it could be an interesting speculation play. But I'm not going to try it myself.

But the airline might file sooner, maybe in the next couple of months, to take advantage of the more lenient bankruptcy laws.

Basically time is running out. They have a whole series of deadlines coming up in September. The problem is would US Airways be able to attract financing to emerge from bankruptcy again, even with a new round of labor concessions?

Basically all we can do is get a bankruptcy attorney and get in line.

Because they (Delphi) have considerable leverage at a moment of bankruptcy is not the same as saying the UAW is out of the game.

Fourth quarter results from continuing operations met or exceeded our long-term targets for earnings, revenues and, on a pro forma basis, return on equity. Higher spending by affluent consumers, small businesses and corporate Card members more than offset the impact of an industry-wide spike in bankruptcy filings before new legislation went into effect last October.

From setting up a business, through dealing better with construction licenses, improving property registration, hiring new workers, to paying taxes, contract enforcement and bankruptcy and access to credit - Serbia and Montenegro covered the waterfront.

GM is holding it over your head that they can file bankruptcy at any time.

If someone in Katrina is down and out, and has no possibility of being able to repay 40 percent or more of their debts, then the new bankruptcy law doesn't apply,

He felt that it was premature for University Heights to have filed for bankruptcy in this case.

We expect to formally exit bankruptcy in early 2006, with a target exit date of February 1st.

There is no harm to the citizens of Minnesota or the MAC (Metropolitan Airports Commission). There are a number of issues Northwest is dealing with in bankruptcy and this is one of them.

The purveyors of state bankruptcy are at it again. This isn't a plan. This is a joke.

The people coming out of bankruptcy need an opportunity to get back on their feet.

We've been trying to stay out of bankruptcy for three years now.

We took the view early in the case that we were going to take full advantage of every opportunity that bankruptcy gives us to fix our situation, and we have done just that. We also took advantage of all of the opportunities to save costs that aren't necessary, enabled by the bankruptcy process.

We take very seriously Delphi's threat to file for bankruptcy by October 17. If Delphi files for bankruptcy, we couldn't rule out a ratings change (for GM).

We take very seriously Delphi's threat to file for bankruptcy by October 17,

We support credit counseling, especially if it's delivered early, and this is not early intervention. This is late intervention at the point where people have decided that bankruptcy is the only way for them. We just wonder whether this kind of late intervention will be helpful to too many people.

We are focusing all our efforts on executing our North American turnaround plan. That report analyzes our recovery action in a hypothetical bankruptcy situation. GM is not in bankruptcy and we don't see that process as a winning strategy.

Going into Chapter 11 is expensive. The feeling is once they get out of the bankruptcy and get some of the costs of the bankruptcy paid, they'll be able to build up their portfolio and make real money.

Under current law, the only way an airline can avoid burdensome pension costs is by entering bankruptcy and terminating the plans.

We look forward to confirming the (reorganization) plan next week and exiting bankruptcy next month ready to compete with the strongest carriers.

We made these agreements only because it is painfully obvious that the results of bankruptcy proceedings would have been far worse. The company has been provided with everything it needs to survive. We can only hope that they will not squander the opportunity our members have provided them.

There are so many more hourly people than salaried, and they get more of the press than us. That's why we are sort of the forgotten few. But we are feeling real anxiety, too, especially about the possibility of (a Delphi) bankruptcy and how it would affect us. We don't have anything protecting us. They have a contract.

There are so many fewer moral barriers to a bankruptcy of this scale.

Kmart went into bankruptcy a cadaver and it'll come out of it a cadaver,

Kmart's significant losses and sales decline in the first quarter reflect the many challenges the company faced in the period following our voluntary Chapter 11 filing, ... These challenges included reduced inventory levels as vendors withheld shipments in the early days of the reorganization and reduced store traffic arising from the bankruptcy filing.

Katrina will be a significant test of how flexible our bankruptcy rules are. Banks have a lot of experience dealing with debtors in difficulty because of natural disasters. The first focus will be on making sure people can meet their immediate financial needs.

It certainly is signaling there is financial stress on Northwest. It's telling everyone they may now be looking at bankruptcy as a strong option.

I think that's a big issue that a bankruptcy court is going to have to confront. What's the ongoing responsibility of the company and what's the legal liability in the contracts.

I think what you see in the bankruptcy rate is just a result of everything piling up on people, ... I suspect it is just a cumulative effect of an unbudgeted jump in expenses for daily living.

I think a lot of people want to know if they're with somebody who has a kid somewhere and owes 10 years of back child support, or filed for bankruptcy years back and just neglected to tell you. A lot of people don't know how to ask those questions. That's what I do.

It goes to show that proper planning, being able to weather the inevitable ups and downs of the business, is vital. Those that do survive bankruptcy addressed their costs and strategic issues in a comprehensive manner. That's how Continental approached its restructuring.

laws to allow companies to use their profits gained in the United States to build plants overseas and then file bankruptcy just in the United States.

It is a push by bankruptcy opponents to try and delay the implementation, more so than a good-faith effort to help Katrina victims.

I think there's a violation of the bankruptcy code. This court should direct those funds be returned to RCM immediately. This seems like a no-brainer.

Our contract has been placed in jeopardy as a result of Delta's petition for bankruptcy protection, ... The fight that has just begun will be intense and difficult.

Option market makers and hedgers are pricing in the possibility of (Delphi) filing for bankruptcy before October 17.

Napster is disappointed with the bankruptcy court's decision not to approve the sale of the company's assets to Bertelsmann,

I wonder to what extent a 4-cent reduction in fuel is going to help airlines that are going into bankruptcy anyway. Maybe you might as well let the bankruptcy court sort it out,

I think passengers believe they have seen everybody get in and out of bankruptcy protection, like Continental in the early 1990s and TWA before American Airlines bought it,

Jim Sensenbrenner is once again deciding to abandon his fellow Americans in their time of need. This proposal would simply allow those citizens wiped out by Hurricane Katrina to file for bankruptcy under the old law, making it easier for these families to get back on their feet after this disaster. Apparently, Congressman Sensenbrenner doesn't think we should lend a helping hand to these families.

We need a consensual agreement. We can't get out of bankruptcy without one.

The argument by proponents is if consumers have more skin in the game, they'll choose wisely. When you look at the facts or figures, especially bankruptcy from medical costs ... consumers already have skin in the game. We all understand the costs.

will make it more difficult for airlines to convince a bankruptcy judge that they cannot make reasonable pension payments.

We continue to believe that a bankruptcy filing is a low probability outcome and that the company will successfully negotiate a new bank agreement.

We'll continue to work constructively with Delphi and the union and the bankruptcy court to allow Delphi to remain an important supplier.

When it comes to airline bankruptcies, infrequent travelers tend to freak out. They think bankruptcy is liquidation. But that's not the case.

We can say authoritatively that federal bankruptcy law changes are doing no measurable good whatsoever. They've done nothing more than put new hurdles in the path of people who are already flat on their back due to a financial crisis over which they have no control.

We filed for bankruptcy and set up this process to flesh out the real interest from potential buyers, ... We feel the greatest value to our creditors would come from a strategic arrangement that preserves the company as a going concern.

We believe the odds GM management could be held accountable for accounting errors has gone up, and this could accelerate a bankruptcy protection decision that we think is inevitable.

We're not aware of any other situation in which such a panel has been convened to sit as the bankruptcy court.

We've done performance comparisons of our scores, including bankruptcy scores, and generally they are very predictive.

We know that we will have to make sacrifices but we're hoping the bankruptcy judge will perceive what a disproportionate sacrifice Delta is trying to wring from this group of working women -- most of them mothers who help support families.