Puerto Rico governor slams congressman over ‘dictatorial’ letter

Puerto Rico's governor on Monday fiercely defended his administration's right to help steer the insolvent, storm-ravaged island out of bankruptcy after a U.S. congressman said the process should be led by the island's creditors and federally appointed oversight board. Puerto Rico Governor Ricardo Rossello speaks during a Facebook live broadcast in the library of the governor's mansion, in San Juan, Puerto Rico January 24, 2018.

Two companies express interest in offering to purchase paper mill

Scott M. Burto didn't identify the companies, but said he learned they have expressed interest in purchasing the plant at 30 Champion St., from DeltaPoint Capital Management LLC and operating it in some capacity. DeltaPoint Capital Management has spent several months attempting to sell its West Carthage-based specialty paper products manufacturer, which filed for reorganization under Chapter 11 bankruptcy protection on Feb. 28. “I believe that if other legitimate offers are going to be made, they should take them into consideration as a better opportunity for the community and those employees there,” Mr. Burto said.

Remington Declares Chapter 11 Amid ‘Trump Slump’ In Gun Sales

Firearms manufacturer Remington Outdoor has filed for Chapter 11 bankruptcy protection in hopes of staving off creditors amid a slump in sales and public outcry over gun violence. Reuters reports that Remington's creditors, including Franklin Templeton Investments and JPMorgan Asset Management have agreed to exchange debt for equity in the company.

Fifth Circuit, in Bankruptcy Ruling, Lets Convicted Businessman Pay…

The U.S. Court of Appeals for the Fifth Circuit has ruled that a Texas businessman who was sentenced to two years in prison for bankruptcy fraud may use the sale of the proceeds of his house to pay his criminal defense attorneys, rejecting a U.S. bankruptcy trustee's attempts to claim the home sale proceeds as part of his estate. Curtis Harold DeBerry, the former owner of a failed produce company in Boerne, Texas, was eventually sentenced to two years in prison last year for hiding assets from creditors in bankruptcy.

Fixing Welfare Is Ultimately A Philosophical Problem

With the passage of the recent bipartisan budget agreement and its $300 billion assault on spending caps, coming on the heels of the GOP's Tax Cut and Reform Bill and its sweeping $1.5 trillion reduction in taxes, at some point Republicans must focus their attention to a side of the spending coin that has never sat well with America-welfare. According to Gary D. Alexander, Pennsylvania's former Secretary of Human Services, the federal government's $1 trillion-a-year "limitless war on poverty" has spawned a kraken of runaway spending that threatens America's economic survival.

Congress Sets Sights on Federal Cryptocurrency Rules

Jolted by the global investment craze over bitcoin and other cryptocurrencies, U.S. lawmakers are moving to consider new rules that could impose stricter federal oversight on the emerging asset class, several top lawmakers told Reuters. Bipartisan momentum is growing in the Senate and House of Representatives for action to address the risks posed by virtual currencies to investors and the financial system, they said.

Memphis Toys R Us To Remain Open

A representative with Toys R Us has confirmed to The Daily News that the retailer's Memphis location, at 7676 Polo Ground Blvd ., won't close after all. The news comes a week after New Jersey-based Toys R Us announced it would close 182 stores across the United States as a part of its Chapter 11 bankruptcy reorganization efforts.

Chart to accompany Moore article of Jan. 22, 2018.

With all the talk about a possible government shutdown due to an impasse on immigration reform, no one seems to be paying attention to a story of even bigger long-term consequence. Congress is preparing a two-year budget that blows past bipartisan spending caps to the tune of $216 billion through 2019.

Trump’s pathetic bankruptcy past shows through in GOP’s fantasyland tax bill

This week, Congress passed the bill formerly known as the "Tax Cuts and Jobs Act" with the support of 278 House and Senate Republicans. At any other time, it would be hard to imagine that congressional Republicans could support major tax legislation drafted in such haste and with so little regard for distributional consequences.

John Alexander retains Bennelong in by-election

'You p****d away your career being a spoiled brat': Craig Sager's daughter Kacy destroys axed ESPN reporter Britt McHenry in epic Twitter rant over family insult Cringeworthy moment Trump's pick for lifetime federal judge appointment fails to answer BASIC questions about the law and admits never having tried a case in brutal confirmation hearing hearing Tax cut bill goes public as GOP slashes rates for the wealthy, nixes Obamacare penalty, expands child tax credits, dramatically lowers corporate taxes and opens up new Alaska oil drilling The man who stole my childhood: Dylan Farrow shares her grief at the release of Woody Allen's new movie being celebrated by stars Kate Winslet and Justin Timberlake Off the menu: Morgan Spurlock's 'Super Size Me' sequel is pulled from the Sundance Film Festival after his shocking sexual misconduct confession 'A bubble almost guaranteed to burst': Wolf of ... (more)

LI woman laundered $85K to support Isis: Feds

A Long Island woman has been charged in federal court in Central Islip with laundering more than $85,000, using Bitcoin and other cryptocurrencies, to support ISIS, officials said Thursday. Zoobia Shahnaz of Brentwood transferred those funds out of the country and then attempted to leave the United States and travel to Syria, according to the U.S. Justice Department.