Economy

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Polaroid Declares Bankruptcy For Third Time

Dec. 19 (Bloomberg) — Polaroid Corp., the pioneer of instant photography, sought bankruptcy protection for the second time in seven years, blaming an alleged $2 billion fraud at its parent company Petters Group Worldwide LLC. Petters Group, which acquired the 71-year-old company in 2005, has unsecured claims against Polaroid totaling $213.5 million, according to papers […]

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Where’d The Bailout Money Go? Shhhh, It’s a Secret

WASHINGTON (AP) Dec 22 By MATT APUZZO– It’s something any bank would demand to know before handing out a loan: Where’s the money going? But after receiving billions in aid from U.S. taxpayers, the nation’s largest banks say they can’t track exactly how they’re spending the money or they simply refuse to discuss it. “We’ve […]

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