Bankruptcy Best Quotes

Best hope for what, Catman? Death? Bankruptcy? You know, my life was going along…well, rather crappily, to be honest, but at least no one was trying to kill me and no one was dying around me. Since I met you, my life has taken the high road to Shitsville, with no off-ramp in sight. (Susan)

If someone contacts you and asserts that you’re infringing on their patent, you’ll need a lawyer to shield you from the accusation that you are willfully infringing. Never, ever respond yourself. At the same time, you’re not left with whatever your lawyer tells you to do. If you have patents of your own (which you should), disputes don’t have to come to litigation, damages, and bankruptcy. In my experience, the best way to settle IP infringement suits out of the courtroom is through cross-licensing—an agreement between all parties to give each other a license to use their patents.

Anyway, there were thousands of Kantoreks, all of them convinced that they were acting for the best, in a way that was the most comfortable for themselves. But as far as we are concerned, that is the very root of their moral bankruptcy.

Just as the Anabaptists were scorned by Protestants and Catholics alike, anarchism been dismissed equally by the political Left and Right in modernity.  But in our age of political bankruptcy, this is perhaps the best endorsement.  With Ellul, I think that anarchism deserves to be reconsidered, particularly by Christians, and even more particularly by contemporary Anabaptists. 

The faux university also did not have professors, not even part-time adjunct professors, and the “faculty” (as they were called) were certainly not “the best of the best.” They were commissioned sales people, many with no experience in real estate. One managed a fast food joint, as Senator Marco Rubio would point out during the March 3 Republican primary debate in 2016. Two other instructors were in personal bankruptcy while collecting fees from would-be Trump University graduates eager to learn how to get rich. Trump

I said just now that the question of Faith in this sense arises after a man has tried his level best to practise the Christian virtues, and found that he fails, and seen that even if he could he would only be giving back to God what was already God’s own. In other words, he discovers his bankruptcy

One day that little kid grew up and raised a bankruptcy-threatened club that everyone had written off to the second-best in the country, and then he raised himself up to the NHL, the impossible path from the forest to the stars. Before fate snatched it all away from him. It was Sune who called Peter in Canada after the funeral and told him that Beartown needed a general manager

Bankruptcy cleans out the system. What’s wrong with that? South Korea went through this in the late 1990s. They didn’t have anyone to bail them out, and they had to go through the pain. Sweden did it in the early 1990s. Mexico did it. Russia did it. The list goes on and on. Competent people take over the assets from incompetent people and rebuild from a solid base. Business has always been survival of the fittest and Darwinism at its best. After all, this is what capitalism is all about.

They barely have time to fend off calls from angry creditors, let alone write letters to Congress. And most are profoundly, desperately ashamed of their situation. For many, the decision to file for bankruptcy proves to be the darkest secret of their entire lives. Politically speaking, they are almost invisible. And yet these families were up against what was already one of the best-organized, best-funded lobbies in America. (It would get even better organized and better funded in the years to come.)

Dear Francesca, tell me, is this a succesful party, in your view? Is this the best we can do? I know that you have always wanted to meet Kong; now that you have met him and he has said whatever he has said to you (I saw you smiling), can we go home? I mean you to your home, me to my home, all these others to their own homes, cells, cages? I am feeling a little ragged. What made us think that we could escape things like bankruptcy, alcoholism, being dissapointed, having children? Say 'No,' refuse me once and for all, let me try something else. Of course we did everything right, insofar as we were able to imagine what 'right' was. Is it really important to know that this movie is fine, and that one terrible, and to talk intelligently about the difference? Wonderful elegance! No good at all!

• Auto and Homeowner Insurance—Choose higher deductibles in order to save on premiums. With high liability limits, these are the best buys in the insurance world. • Life Insurance—Purchase twenty-year level term insurance equal to about ten times your income. Term insurance is cheap and the only way to go; never use life insurance as a place to save money. • Long-Term Disability—If you are thirty-two years old, you are twelve times more likely to become disabled than to die by age sixty-five. The best place to buy disability insurance is through work at a fraction of the cost. You can usually get coverage that equals from 50 to 70 percent of your income. • Health Insurance—The number one cause of bankruptcy today is medical bills; number two is credit cards. One way to control costs is to look for large deductibles to lower your premium. The HSA (Health Savings Account) is a great way to save on premiums. The high deductible creates a much lower premium, and this plan allows you to save for medical expenses in a tax-free savings account.

This is why, from this point on, no debt will be paid off. It can at best be bought back at a knock-down price and put back on to a debt market — the public sector borrowing requirement, the national debt, th e world deb t — having once again become an exchange value. It is unlikely the debt will ever be called in, and this is what gives it its incalculable value. For, suspended as it is in this way, it is our only insurance against time. Unlike the countdown, whic h signifies th e exhaustion of time, the indefinitely deferred debt is our guarantee that time itself is inexhaustible. Now, we very much need assuring about time in this way at the very poin t whe n the future itself is tendin g to be wholly consume d in real time . Clearing the debt, balancing up the books, writing off Third World debt — these are things not even to be contemplated. It is only the disequilibrium of the debt, its proliferation, its promise of infinity, which keeps us going. The global, planetary debt clearly has no meaning in traditional terms of obligation and credit. On the other hand, it is our true collective claim on each other — a symbolic claim, by whic h persons, companies and nations find themselves bound to one another through lack. Each is bound to the other (even the banks) by their virtual bankruptcy , as accomplices are bound by their crime. All assured of existing for each other in the shade of a debt which cannot be settled or written off, since the repayment of the accumulated world debt would take far more than the funds available. The only sense of it, then, is to bind all civilized human beings into the same destiny as creditors. Just as nuclear weapons, stockpiled across the world to a point of considerable planetary overkill, have no other meaning than to bind all human beings into a single destiny of threat and deterrence.

Let us have hearty, earthy mercy. Let us have love that can admit that I do not like you, my brother, and you do not like me much either. But we are both slaves set free by the same Good King. Neither of us has ever managed to quite fully do our duty. We both deserve to be cast back into the debtor’s dark prison with bankruptcies we could never repay. So whatever fights we might have with one another now are best dropped before we ever think to call the Judge. He will surely condemn us both if He finds that after His love has come down to us, we still scrabble and fight over such petty misdemeanors.

I am much more concerned, though, when smaller companies invest outside their own product areas. I see this as bankruptcy of inventiveness. It is particularly evident when companies find themselves with extra leverage due to run-up of their stock price. Their willingness to spend this found capital outside their own backyard is a signal that they have no real vision, no idea of how to grow in the arena that they know best.

Best hope for what, Catman? Death? Bankruptcy? You know, my life was going along…” She paused as she considered what she was about to say. “Well, rather crappily, to be honest, but at least no one was trying to kill me and no one was dying around me. Since I met you, my life has taken the high road to Shitsville with no off-ramp in sight.

For instance, the art of making order where people live. In our culture this activity is not considered an art, it is not even considered work. "Do you work?" - and she, having stopped mopping the kitchen and picked up the baby to answer the door, says, "No, I don't work." People who make order where people live are by doing so stigmatized as unfit for 'higher' pursuits; so women mostly do it, and among women, poor, uneducated, or old women more often than rich, educated, young ones. Even so, many people want very much to keep house but can't, because they're poor and haven't got a house to keep, or the time and money it takes, or even the experience of ever having seen a decent house, a clean room, except on TV. Most men are prevented from housework by intense cultural bias; many women actually hire another woman to do it for them because they're scared of getting trapped in it, ending up like the woman they hire, or like that woman we all know who's been pushed so far over by cultural bias that she can't stand up, and crawls around the house scrubbing and waxing and spraying germ killer on the kids. But even on her kneebones, where you and I will never join her, even she has been practicing as best she knows how a great, ancient, complex, and necessary art. That our society devalues it is evidence of the barbarity, the aesthetic and ethical bankruptcy, of our society.

The right way to look at this new market was not to think, “How can we protect our existing business?” Instead, Blockbuster should have been thinking: “If we didn’t have an existing business, how could we best build a new one? What would be the best way for us to serve our customers?” Blockbuster couldn’t bring itself to do it, so Netflix did instead. And when Blockbuster declared bankruptcy in 2010, the existing business that it had been so eager to preserve by using a marginal strategy was lost anyway.

Initially the common ownership theory was dismissed as a loony idea from ivory-tower economists. After all, the airline industry is infamously bankruptcy-prone and looked like poor evidence of anticompetitive behavior, overt or otherwise. Richard Branson, the billionaire entrepreneur, once joked that the best way to become an aviation millionaire was to be a billionaire and invest in an airline. However, the theory gradually started to garner attention. “Are Index Funds Evil?” was the provocative title of one piece examining the subject in The Atlantic in 2017.18

From the investor’s standpoint it is probably best for him in most cases that he should have (1) an unconditional right to receive interest payments when they are earned by the company, and (2) a right to other forms of protection than bankruptcy proceedings if interest is not earned and paid. The terms of income bonds can be tailored to the advantage of both the borrower and the lender in the manner best suited to both. (Conversion privileges can, of course, be included.) The acceptance by everybody of the inherently weak preferred-stock form and the rejection of the stronger income-bond form is a fascinating illustration of the way in which traditional institutions and habits often tend to persist on Wall Street despite new conditions calling for a fresh point of view. With every new wave of optimism or pessimism, we are ready to abandon history and time-tested principles, but we cling tenaciously and unquestioningly to our prejudices.

The balance sheet told a different story. Selling for $13.38 per share at the end of 1954—an $18.8 million market capitalization—P&R traded close to its net current asset value of $9.16 per share, a figure that included significant excess inventory. While this alone was not enough to make the stock cheap, P&R also had an off-balance-sheet asset known as culm banks, a waste material accumulated from anthracite mining which was thought to have value as a fuel source. Buffett believed this asset could be worth around $8 per share.150 The net current asset value and the culm banks combined were worth $17 a share, enough to give Buffett confidence that the stock was cheap. But, as Table 2 shows, the company also had substantial property, plant, and equipment. These fixed assets were almost certainly worth less than their carrying value, as the industry had deteriorated since the company last valued them when it emerged from bankruptcy in 1945. While it wasn’t clear what they were worth, they were certainly worth something. Finally, and ultimately most importantly, Ben Graham was on P&R’s board of directors, becoming a member after purchasing the stock in 1952. Buffett, who had discovered the stock on his own, would join Graham’s firm in 1954. While Graham had not taken any significant action as a board member by then, Buffett sensed that his professor, mentor, and now boss would eventually make something happen. As he later stated, “I was just a peon sitting in the outer office… I was not in the inner circle, but I was terribly interested, knowing something was going on.

So not only were the liabilities from Allied’s bankruptcy becoming defined, but the core business was not showing any signs of stress from the scandal. That left valuation. At his $40 per share purchase price, and in contrast to most of the stocks discussed in this book, American Express did not sell for an obvious bargain price. With a $178.4 million market capitalization and $124.1 million enterprise value, the stock sold for 15.8x 1963 earnings, 7.8x EV/1963 EBIT, and 2.3x P/TB. It didn’t look that cheap, and this valuation didn’t include an adjustment for the cost of the salad oil settlement.270

For railroads, ownership of coal lands was a way to stabilize an industry levered to economic volatility and weather, with warmer winters depressing demand. The vertical integration of railroads and miners also helped the players control production and shipments. The industry became highly concentrated, with seven railroad companies controlling over 90% of the coal production in the region. This oligopoly occasionally entered into collusive arrangements and tried to manipulate the price of this critical energy source. Despite these advantages, the Reading Railroad’s spending spree eventually led to trouble, as the combination of leverage, competition, and economic volatility caused the company to declare bankruptcy three times between 1880 and 1896.143 The Reading finally experienced financial success in the early 1900s, only to confront a new problem: The federal government was now determined to curb the power of the railroad and its peers. Congress began to enact legislation designed to split anthracite coal producers from railroads. These early attempts were easily circumvented by the anthracite giants. In 1915, however, the Supreme Court started ruling that the railroad companies violated anti-trust law. In 1920, the Court banned the stock control of coal companies outright, which finally forced some of the largest anthracite operators, including the Reading Railroad, to separate their coal and railroad operations.144

As anthracite production fell after the divorce from the railroad, P&R’s management raised debt to try and minimize the decay through capital investment, thinking new facilities could help the company remain competitive. But industry conditions worsened, and the Great Depression decimated economic activity, leading to significant losses for P&R throughout much of the 1930s. These results culminated in a declaration of bankruptcy in 1937.147 It took eight years for the company to emerge, but the reorganized firm possessed a leaner balance sheet, better prepared to withstand the declining market.148 Ultimately, it didn’t matter, as alternative fuel competition was simply overwhelming. As Figure 1 illustrates, production of hard coal eventually fell nearly 70%, dropping from 99.6 million tons from its 1917 peak all the way down to 30.9 million in 1953. Coal prices rose, mitigating the volume decline (as seen in Figure 2). But there was no hope that the industry would return to its former glory; anthracite coal was in an irreversible decline. This was the seemingly hopeless situation that confronted the young Warren Buffett, still in his early 20s, when he began looking at Philadelphia & Reading. Yet he started buying P&R stock at around $19 per share in 1952. When the stock soon plummeted to $9, Buffett, unphased by the decline, loaded up. By the end of 1954, he had invested $35,000 into the company, making it his largest personal position.149

Wage Garnishment Majority of students complete their education with student loan debt. Once you have graduated from college and stepinto the real world, you realize it isn’t as easy as it seemed. Student loan is one of the most difficult loans to repay and it also cannot be discharged into bankruptcy. Thus it has to be repaid!One thing that should always be kept in mind is to never skip your loan payments. If this happens and happens consecutively for months it will open doors to many other problems. It will put your loan in default; your entire loan amount and interest will become due immediately. It will adversely impact your credit score. We discuss Wage Garnishment with The Student Loan Help Center team, let’s see what they said about it. So What is wage garnishment? Wage garnishment happens when your loan is in default (you can consult The Student Loan help center if you want) i.e you have not paid the loan for consecutive 270 days. Now Wage garnishment is one of the legal consequences of going into default. Through this method the government starts deducting 15% of your income. That means you in hand income willreduce with only 85% coming in your bank account. However the amount of wage that can be garnished for private loandiffers from state to state since every state is not allowed to garnish the wages. How to avoid? As discussed before, wage garnishment happens only when your loan is in default. The department of education sends you one letter when you are in default. The best way to avoid this problem is to avoid going to default. There are numerous measures you can adopt right from very beginning to keep your loan repayment on track. For eg, starting to pay interest in your grace period, automating the process of monthly payments to get some discount from bank etc. Now what if you are in default or going in default, then the best option would be to consider forbearance or deferment which will stop your wages from being garnished. How can it be challenged? If you have just received the notice from Department of Education then you are given one opportunity to get a hearing and object to wage garnishment. You can challenge wage garnishment on following grounds: Your income Your employment Procedures followed to start the garnishment etc Also your wage garnishment cannot begin before the notice of 30 days. During this time period you request a hearing garnishment will be put on hold and if 30 days are over garnishment will not stop if you have won the hearing. One of the Best Student Loan consolidation services in USA is The Student Loan Help Center in Florida for all kind of Student Loan consultation you can contact any time.

More children will live through their parents' bankruptcy than will live through their parents' divorce.

Annihilating nihilism is a peculiar phenomenon – the product of financial capitalism. In the sphere of financial capitalism, destroying concrete wealth is the easiest way to accumulate abstract value. The credit default swap (CDS) is the best example of this transformation of life, resources and language into nihil. The CDS is a contract in which the buyer of the CDS makes a series of payments to the seller and, in exchange, receives a pay-off if an instrument – typically a bond or loan – goes into default (fails to pay). Less commonly, the credit event that triggers the pay-off can be the restructuring or bankruptcy of a company, or even simply the downgrading of its credit rating. If the financial game is based on the premise that the value of money invested will increase as things are annihilated (if factories are dismantled, jobs are destroyed, people die, cities crumble, and so on), this type of financial profiteering is essentially constructed upon a bet on the degradation of the world.

One of the best ways to get competent, free assistance to learn about the programs and figure out which is best for you is to contact a housing counselor certified by the Department of Housing and Urban

Mortgage Workouts Even if you don’t qualify for any of the government loan modification programs or your lender doesn’t agree to participate, you may be able to arrange a “mortgage workout.” A workout is any agreement you make with the lender that changes how you pay the delinquency on your mortgage or otherwise keeps you out of foreclosure. Many lenders require this formal process even for short-term fixes. Here are some workout options your lender might agree to: • Spread repayment of missed payments over a few months. For example, if your monthly payment is $1,000 and you missed two payments ($2,000), the lender might let you pay $1,500 for four months. • Reduce or suspend your regular payments for a specified time, and then add a portion of your overdue amount to your regular payments later on. • Extend the length of your loan and add the missed payments at the end. • For a period of time, suspend the amount of your monthly payment that goes toward the principal and only require payment of interest, taxes, and insurance. • Let you sell the property for less than you owe the lender and waive the rest. This is called a “short sale.” It’s best to start the workout negotiations as early as possible. But before you contact the lender about a workout, you should prepare information about your situation, including: • a reasonable budget for the

Kaida's attorney suggested a quit claim deed as the best vehicle for transferring Gail’s home into Kaida's name with a limiting clause for a life estate for Gail. The single page was drafted on his computer. When Gail asked Kaida why her beneficiary deed and her will were not sufficient, Kaida told her the new “trust” was more complete. It ensured that Grant and Paige would finally inherit her property at the end of Kaida’s life. It would also substantially help her build Kaida’s credit back from the bankruptcy to have her name on the deed. Gail certainly loved Kaida and her grandchildren. Gail trusted Kaida’s promise to care for her in her old age, and she believed their funds had become hopelessly co-mingled, so that sitting in the attorney’s office that day, she finally agreed to sign the trust document with a “joint tenancy life estate” on her property. It felt like a business transaction. It was only right to incentivize Kaida for her promise to care for her in her old age.

It is said that the world is in a state of bankruptcy, that the world owes the world more than the world can pay. Ralph Waldo Emerson

Am I okay? No, I am definitely not okay. My best friend is being arrested for something she didn't do. I tried to rescue her and failed. My cheap rental apartment flooded, a naked man was mostly dead, I got fired, and now I have to live at home and work with Cristian, whose only goal in life is to get every woman he meets into bed. My parents are desperate to marry me off, and now I'll be a sitting duck for a parade of losers who can't find a woman on their own. I eat too much candy and I need to exercise more. I'm wet and cold and on the verge of bankruptcy and a stranger just dragged me into the bushes to do God knows what with me.

Parcells: “Al, I am just not sure how we can win without so many of our best players. What should I do?” Davis: “Bill, nobody cares, just coach your team.” That might be the best CEO advice ever. Because, you see, nobody cares. When things go wrong in your company, nobody cares. The media don’t care, your investors don’t care, your board doesn’t care, your employees don’t care, and even your mama doesn’t care. Nobody cares. And they are right not to care. A great reason for failing won’t preserve one dollar for your investors, won’t save one employee’s job, or get you one new customer. It especially won’t make you feel one bit better when you shut down your company and declare bankruptcy. All the mental energy you use to elaborate your misery would be far better used trying to find the one seemingly impossible way out of your current mess. Spend zero time on what you could have done, and devote all of your time on what you might do. Because in the end, nobody cares; just run your company.

The pantheon of those who won’t is the best church poetry has to offer. It’s a temple perfumed with the incense of sacrificed literary reputation, littered with bankruptcy notices for cynical cultural capital, warmed by the greater fire of the intrinsic, populated by the most famous and the most anon.

Common sense alone reveals the essential problem that economic theory ignores. Just imagine what would become of a firm that develops computer software or a new pharmaceutical if its product were priced at the cost of making another copy of its program! Bankruptcy would be certain. To prevent such bankruptcy, we grant developers of software or pharmaceuticals protection through copyrights or patents, which limit competition. Because of the longstanding use of these monopolistic arrangements, we readily accept that they are consistent with the principles of free competition. In fact, they are not. More and more, the existence of sunk costs makes industry resemble a software industry without the protection of copyrights or patents. For example, airline bankruptcies have become almost commonplace. Like the railroads of the nineteenth century or the software developer of the twentieth, an airline commits an enormous investment in an industry where the cost of servicing another customer is minimal. As competition drives prices down toward this level, the firm becomes unable to meet its financial commitments. Economic theory as it stands today is irrelevant to understanding this process. Economists may employ scientific tools, such as mathematics and statistics, but they apply them in a context that is questionable at best. Economics purports to be scientific because it grounds its ideology on a rigorous theoretical foundation, but this foundation rests on wildly unrealistic assumptions.