20 Companies That Cratered in 2010
Call it the year of the stealth bankruptcy.
After two years of colossal corporate meltdowns--the liquidations of Lehman Brothers and Circuit City, the General Motors and Chrysler bankruptcies, the near failures of AIG and Citigroup--2010 seemed like a year of convalescence. The default rate on corporate debt, according to Moody's, plummeted from the peak levels of 2009 and headed back toward pre-recession levels. The biggest bankruptcy of the year was a company most Americans have never heard of--bond insurer Ambac--and investors saw it coming so far in advance that the markets barely reacted. And overall corporate profits reached stratospheric levels, signaling boom times for companies that endured the Great Recession and lived to tell the tale.
Deuteronomy 18:10-12 (KJV)
There shall not be found among you anyone
who makes his son or his daughter pass through the fire, or one who practices witchcraft, or a soothsayer, or one who interprets omens, or a sorcerer, 11
or one who conjures spells, or a medium, or a spiritist, or one who calls up the dead. 12
For all who do these things are
an abomination to the Lord. (KJV)
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Baruch ha Shem Adonai