White House should release loan documents

The House Energy and Commerce Committee has subpoenaed White House communications concerning the half-billion-dollar federal loan guarantee for failed California solar company Solyndra, which also is under criminal investigation and has ties to a major campaign donor to President Barack Obama. We have yet to hear a good reason for the White House’s reluctance to […]

Wheatfields managers say facility should open by end of year

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CNJ staff photo: Tony Bullocks A banner at the Wheatfields assisted living and memory care community Monday advertises that it will be opening soon. Wheatfields is scheduled to open sometime this summer. Sharna Johnson After almost three years tangled up in bankruptcy and foreclosure, managers of the once-deserted Wheatfields Senior Living Community expect the facility […]

Give states option to file for bankruptcy

Freedom New Mexico With persistent deficits, soaring pension obligations and mounting bond debts, states like California could well benefit from the ability to restructure their finances through a bankruptcy procedure. Bankruptcy allows the debtor to work through an orderly and equitable settlement of obligations. The idea has been gaining traction, with support from former House […]

Freedom emerges from bankruptcy

CNJ staff By Mary Ann Milbourn Freedom News Service IRVINE, Calif. — Freedom Communications Inc., parent company of the Clovis News Journal, Portales News-Tribune and Quay County Sun, announced Friday it has emerged from bankruptcy reorganization. The emergence from Chapter 11 bankruptcy relieves Freedom of $450 million in debt, but it brings an end to […]

Freedom to emerge from bankruptcy by end of March

Freedom Communications Freedom Communications Inc., parent company of the Clovis News Journal, Portales News-Tribune and Quay County Sun, should emerge from bankruptcy by the end of March, according to the company’s top executives. Interim Chief Executive Burl Osborne and Chief Financial Officer Mark McEachen said that while some change in the company’s newspapers, magazines and […]

North Plains Mall corporate owner reaches bankruptcy deal

The Associated Press LOS ANGELES — The nation’s second-largest shopping mall operator General Growth Properties Inc. said Wednesday it reached a deal with Canada’s Brookfield Asset Management Inc. that will speed its exit from Chapter 11 bankruptcy protection. General Growth is the corporate owner of North Plains Mall in Clovis. Speculation raged for weeks that […]

Freedom strikes deal for Arizona paper sale

Freedom New Mexico Freedom Communications filed a motion Tuesday with the U.S. Bankruptcy Court in Delaware seeking approval of the sale of its Phoenix-area publications to 1013 Communications LLC, an affiliate of Thirteenth Street Media. In a statement, Freedom said company officials hope a hearing will be held in early March and that the transaction […]

Freedom, creditors reach bankruptcy deal

By Dena Bunis WILMINGTON, Del. — A federal bankruptcy court judge Thursday approved a deal between Freedom Communications, its unsecured creditors and its lenders that could allow the company to emerge from bankruptcy by the end of March. Freedom properties include the Clovis News Journal, Portales News-Tribune and Quay County Sun in Tucumcari. The arduously […]

East Valley Tribune may have buyer

Freedom Communications Freedom Communications has received a letter of intent to purchase the East Valley Tribune in Mesa, Ariz., and keep the Pulitzer-Prize winning newspaper and Web site operating, Publisher Julie Moreno said Friday. Freedom, which is operating under Chapter 11 of the Federal Bankruptcy Code, will seek approval from the bankruptcy judge to complete […]

Freedom files Chapter 11

Sharna Johnson: CNJ Staff Writer Freedom Communications, parent company of Freedom New Mexico, filed a petition for Chapter 11 bankruptcy Tuesday but said operations aren’t expected to change. The filing was done, “along with a plan-support agreement executed by a steering committee of (Freedom’s) lenders,” according to a company press release. “(The company) has sufficient […]

Local dealerships unsure of Chrysler bankruptcy effect

Freedom New Mexico Local Chrysler dealerships say they don’t know what, if any, effect the corporation’s bankruptcy filing will have. Chrysler, the nation’s third-largest car manufacturer, filed for bankruptcy protection Thursday after a group of creditors defied government pressure to wipe out the automaker’s debt. The company plans to emerge in as little as 30 […]

North Plains parent company files bankruptcy

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File photo Staff and wire reports LOS ANGELES – The nation’s second-largest shopping mall owner, including Clovis’ North Plains Mall, filed for Chapter 11 bankruptcy protection Thursday in a tough bargaining move to restructure its $27 billion in debt. Shoppers at its malls will not be affected by its bankruptcy filing, according to General Growth […]

Parent company of North Plains Mall struggling

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CNJ staff photo: Tony Bullocks Severe financial difficulties and the looming possibility of bankruptcy for the corporation that owns North Plains Mall is unlikely to cause noticeable changes at the mall for customers, a General Growth Properties spokesman said Monday. CNJ staff Severe financial difficulties and the looming possibility of bankruptcy for the corporation that […]

5/23 Business digest

Agent honored by Coldwell Banker Niki Harmon of Clovis, an associate broker with Coldwell Banker Colonial Real Estate, has been honored as a member of the Coldwell Banker International Sterling Society, according to a Coldwell Banker news release. Membership is limited to the top 18 percent of the more than 126,00 sales associates worldwide in […]

United Airlines should face up to its mistakes

Freedom Newspapers One of the core foundations of the free market system is the idea that businesses should be able to fail. If a company makes poor choices, poor investments or offers poor services or products, it will not make money and will, ultimately, shut its doors. Like almost all airlines, United Airlines was hurt […]

Clerk predicts flood of bankruptcies

By Ryn Gargulinski: CNJ staff writer If anyone is gonna go for broke, they’re gonna do it now. At least that’s what U.S. Bankruptcy Court clerk for New Mexico Norman Meyer predicts will happen in droves from now until Oct. 17 when a new bankruptcy law goes into effect. Officially called the Bankruptcy Abuse Prevention […]