Page 11 - அமெரிக்கன் திவால்நிலை நிறுவனம் News Today : Breaking News, Live Updates & Top Stories | Vimarsana
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Business bankruptcy filings in Pittsburgh area during 2020 fell to the lowest level in at least 17 years
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The COVID-19 pandemic has hobbled Connecticut’s economy, forcing an estimated 36% of small businesses to close their doors as of December, according to a recent Harvard University analysis.
Amid that turmoil, one might expect bankruptcy filings to be skyrocketing. However, defying predictions from seasoned area attorneys, that hasn’t been the case. In fact, the exact opposite has happened and it’s got nothing to do with any federal courthouse closures related to the pandemic.
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Robert Kaelin
Commercial bankruptcy cases in Connecticut fell nearly 30% in 2020 from the year prior, close to twice the rate of decline nationwide, according to the latest available data from the American Bankruptcy Institute.
Powerful Second Amendment advocacy group the National Rifle Association (NRA) filed for Chapter 11 bankruptcy Jan. 15, but stressed it was in its “strongest financial condition in years.”
The NRA, which reported in court Wednesday net assets of $50 million suggesting financial strength, said it seeks to use bankruptcy to move from New York to Texas and to “streamline” certain legal and business affairs, but gave little further explanation.
“The NRA is pursuing reincorporating in a state that values the contributions of the NRA,” NRA CEO and Executive Vice President Wayne LaPierre said in a statement.
The National Rifle Association took the drastic step of filing Chapter 11 bankruptcy, seeking to move to Texas as it faces ongoing litigation that could lead to the complete dissolution of the organization.
by Chris Isidore, CNN Business January 19, 2021 .
Joe Biden last week proposed a $1.9 trillion stimulus bill, part of a historically ambitious plan to combat an economic crisis.
But many economists and business leaders agree that no amount of government assistance to individuals and small businesses can fix the economy until the underlying cause of the problems the Covid-19 pandemic has been defeated. At best, the combination of the $900 billion plan passed in December, and this plan from the president-elect, can only help the economy to continue to tread water until the pandemic is under control.
“This is a very large package, but it’s about helping the economy hang together as well as it can hang together until the end of the pandemic,” said Mark Zandi, chief economist at Moody’s Analytics.
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