Alex Mashinsky: founder of bankrupt crypto firm to plead guilty to fraud | Cryptocurrencies
Alex Mashinsky, the founder of bankrupt cryptocurrency finance company Celsius Network, said Tuesday he intends to plead guilty to two counts of fraud. The former CEO, 59, was indicted in July last year on seven counts of fraud, conspiracy and market manipulation. Federal prosecutors in Manhattan have alleged that Celsius deceived customers into investing and […]
Creditors of bankrupt gym chain Blink Fitness push to upend sale to UK company
After bankrupt gym chain Blink was sold at auction by Planet Fitness, a group of unsecured creditors were trying to derail the sale to a British company, The Post has learned. Planet Fitness, the largest gym chain in the U.S. with more than 2,000 stores, said it had made an 11th-hour bid to buy Blink, […]
Elon Musk warns America is going bankrupt ‘extremely quickly’ #shorts
Tesla CEO Elon Musk says the U.S. government is on the fast track to bankruptcy and must reduce its spending. #foxbusiness … source
Bankrupt hospital chain paid private equity giant $700M dividend
The nation's largest private, for-profit hospital chain reportedly paid out $790 million in dividends before filing for bankruptcy a few years later, most of which went to Manhattan-based private equity owners. Steward Healthcare System, a Boston-based network of 30 hospitals that operates in rural and low-income areas, paid Cerberus Capital Management in 2016, the same […]
Ex-P.F. Chang’s CEO to take helm at Red Lobster — as bankrupt chain plans to close 23 more locations
Bankrupt seafood chain Red Lobster has appointed former PF Chan CEO Damola Adamolekun to take over the reins of the struggling chain and said it will close 23 more restaurants by the end of the week, according to a court filing on Monday. Red Lobster, which blamed its $20 all-you-can-eat shrimp promotions for its financial […]
Deadpool and Wolverine, bankable heroes of a bankrupt culture
Until this week, the highest-grossing R-rated movie in the U.S. was “The Passion of the Christ.” In a poignant indication of where the culture has gone in the two decades since Mel Gibson’s magnum opus debuted, the new record-holder is the latest and greatest attempt at intellectual property exploitation known as “Deadpool & Wolverine,” a […]
Libertarian presidential candidate Chase Oliver: Social Security a ‘bankrupt Ponzi scheme’
Libertarian Party presidential candidate Chase Oliver is on a mission to shrink government and promote free market solutions to America’s problems. It’s an ambitious goal in an era of rising government spending across the board, but Oliver has already defeated both Robert F. Kennedy Jr. and Donald Trump to win the Libertarian Party nomination. Trump […]
China’s ‘Morally Bankrupt’ Olympics
Estimated Reading Time: 4 minutes The disappearance of tennis star Peng Shuai this month has led many around the world to question the holding of the 2022 Winter Olympics in Beijing. The Games are scheduled to begin February 4. Now, only the morally bankrupt could think it is a good idea to allow the hostage-taking, […]
Companies going bankrupt at the fastest pace since 2020 in ‘historic surge’
The US is experiencing a “historic surge” in corporate bankruptcies as debt-laden companies struggle to adapt to a new era of high interest rates. New figures announced S&P Global Intelligence Seventy-five companies filed for bankruptcy in June, the most in a single month since the peak of the COVID-19 pandemic in early 2020. This brings […]
DAVID BLACKMON: Bonfire Of The E-Vanities: Bankrupt EV Start-Up Fire-Selling Remaining Inventory
Hey, want a cheap Fisker Ocean EV? Want a bunch of them? All you need is $2,500 in cash for a few hundred of Fisker’s remaining inventory of damaged Ocean SUVs, and they are yours! Bankrupt pure-play battery electric-vehicle maker Fisker, desperate to raise cash to keep what remains of its operations open as it goes […]