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Business bankruptcy filings jumped in October, reversing two consecutive months of declining commercial filings and indicating that bankruptcies could continue to rise as the economy struggles to stabilize. |
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John Edelman, a former business owner, is taking Warren Buffett’s advice by investing in what he knows: home furnishings. |
| Business Week’s recent article seems to think so. More than 100,000 companies—about one in every 270 American businesses—have landed in bankruptcy court since the downturn began 18 months ago, according to data compiled by Oklahoma City-based Jupiter eSources. |
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As the effects of the recession continue, the high number of business bankruptcies—7,514 in May, up 40% from the prior year—shows few signs of abating. That's because the factors pushing companies into bankruptcy, including depressed sales and tighter credit, may linger even when the economy starts growing again, especially if the recovery is less than robust. |
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Mandy Dalton is a professional clown. She likes to make kids laugh. "We're kind of the blue-collar workers of the entertainment industry. We get paid contractually," she said. "We're the ones that have to show up with a big smile on our face and make sure everyone is having a good time." |
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