Sep 23rd, 2011 at 3:00PM: The National Slavery Museum in Fredericksburg, Virginia, has filed for bankruptcy.
This will make little difference to potential visitors, however, since the museum doesn't actually exist.
Former Virginia governor Douglas Wilder, shown here in this U.S. Government photo, founded a nonprofit organization in 2001 to create the museum. It was supposed to open in 2004 but never did. A small ...Click on a label to read posts from that part of the world.
bankruptcy posts
National Slavery Museum goes bankrupt without ever opening
Sep 23rd, 2011 at 3:00PM: The National Slavery Museum in Fredericksburg, Virginia, has filed for bankruptcy.
This will make little difference to potential visitors, however, since the museum doesn't actually exist.
Former Virginia governor Douglas Wilder, shown here in this U.S. Government photo, founded a nonprofit organization in 2001 to create the museum. It was supposed to open in 2004 but never did. A small ...Tour operator Goldtrail goes bankrupt, strands 16,000
Jul 17th, 2010 at 11:30AM: UK company Goldtrail Travel Ltd announced it had gone bankrupt at 4pm yesterday. The revelation, made just an hour before the end of the work week, has left the travel plans of thousands of customers in doubt. About 16,000 customers are already abroad on Goldtrail flights and package tours, mostly in Turkey and Greece.
Goldtrail operates under the names Goldtrail Holidays, Goldtrail Travel, and ...Thousands stranded after Flyglobespan goes out of business
Dec 17th, 2009 at 8:30AM: Flyglobespan, Scotland's biggest airline, has become the latest airline to go bust. The airline made the announcement yesterday, canceling all of its flights and firing all 800 of its employees.
The workers got a bad deal getting fired just before Christmas, but at least they get to suffer at home, unlike the more than 4,500 passengers left stranded in foreign countries.
The company claims ...Could Southwest Airlines buy Frontier?
Aug 8th, 2009 at 3:30PM: Southwest Airlines (WN) announced that it was putting a bid in for Frontier Airlines (F9) last week, a move that could significantly increase the airline's market share in the west of the Mississippi. Frontier, the struggling Denver-based low-cost carrier that filed for bankruptcy last year, will be taking bids for the remainder of its company until Monday. With the $114 million bid filed, ...JetAmerica goes bust
Jul 18th, 2009 at 11:30AM: That was quick. In less than two months after opening shop for business, Jet Airways JetAmerica has decided it can't take people from Toledo to points beyond after all. The end of May the airlines had started selling tickets to places like Melbourne, Florida, Lansing, Michigan and South Bend, Indiana with plans to expand to Newark, New Jersey and more. The airlines was to start flying this ...For hotels, bankruptcies looming
Mar 8th, 2009 at 9:00AM: The financial crisis isn't just a problem for the residential market – hotels are getting slammed. So are cruise lines, and we all know about the airline industry's unending woes. The travel industry in the United States is steeling itself for a wave of foreclosures and bankruptcies.
So far, the hospitality business hasn't been hit hard, certainly not to the extent that the residential ...Frontier not as shaky any more
Jan 12th, 2009 at 3:00PM: Frontier Airlines had a tough year last year. A generally tough market, made worse by a bankruptcy filing, called the airline's viability into question. But, a strong December could be just the light at the end of the tunnel that this company needs. If all goes well, according to the Rocky Mountain News, it could hit its goal of pulling out of Chapter 11 this summer. In November, Frontier actually ...Advantage Rent A Car is the next victim of the crappy economy
Dec 12th, 2008 at 10:30AM: The doom and gloom stories about our economy going down the toilet are starting to depress me. The news from Advantage Rent A Car is no different - not only have people stopped buying cars, they obviously no longer rent them either. The chain has 49 stores in the United States, and well over 100 overseas but the decline in rentals and the lack of available credit has forced them into Chapter 11. ...So what's up with Iceland's 'national bankruptcy'? A possible explanation
Nov 4th, 2008 at 10:30AM: Hidden far away in the North Atlantic, Iceland may seem like one of the last outposts for globalization to reach. One economist stressed that a century ago, Iceland was essentially Ghana in terms of economic development. And even as late as the 1970s, Iceland still remained one of the poorest countries in Western Europe, with a major portion of its economy reliant on fishing. Yet today, Iceland ...
Nordic budget airline Sterling files for bankruptcy
Oct 29th, 2008 at 2:30PM: These are not great economic times, and they're taking a toll on the travel industry. Icelandic-owned and Denmark-based Nordic budget airline Sterling announced today that it will file for bankruptcy, halting all of its aircraft. The slowdown of the travel market and rising oil prices put financial strains on the airline a year ago, but now with the fall of the Icelandic economy, and hence the ...Another Low-Cost Carrier Fails
Oct 18th, 2008 at 11:00AM: Low-cost-carrier LTE ceased to operate today because of its financial predicament. The Spanish carrier stopped booking flights on Thursday, but some would-be holidaymakers were left with luggage in hand, waiting to get from rainy England to the sunny Canaries. LTE specialized in such routes and worked closely with several English tour operators. LTE was not a newcomer to the LCC game. It has been ...Iceland on the cheap: Am I the worst person in the world?
Oct 16th, 2008 at 9:30AM: So I just took advantage of Grant's tipoff last week to $400 roundtrip airfare to Iceland. I'm flying out of Boston the weekend before Thanksgiving, and staying for a week. And I believe my flight came out to something like $550, not bad at all for a departure on Saturday and return on Sunday. Now I'm trying to scoop up some dirt-cheap hotel rooms, a rental car, and hmm, maybe a mid-sized bank ...Alitalia may start canceling flights -- can't afford fuel
Sep 15th, 2008 at 7:30AM: Alitalia has been going through a bit of a rough patch of late. Even before the fuel crisis this past summer, Italy's national airline was already struggling with poor service, unhappy unions and terrible management. Now, with costs going through the roof the airline is in some serious financial trouble. Through the course of the summer, Alitalia has been looking for ways out of it's tangle. For a ...United went bankrupt? Wait. What?
Sep 8th, 2008 at 2:30PM: All hell broke loose this morning on Wall Street when word accidentally slipped out that United Airlines had declared bankruptcy. Apparently Bloomberg and a few other agencies accidentally picked up a story from several years back talking about United's financial woes, then thinking it was fresh news investors started dumping the stock. At 11:30 this morning, at $0.01 per share, the stock was ...
Midwest Airlines cuts 40% of workforce
Jul 14th, 2008 at 3:00PM: Further adding to the speculation about the future of Midwest Airlines, the embattled airline today announced that it is cutting forty percent of its workforce via furloughs and layoffs. In light of the escalating fuel crisis, this cut follows the announcement that it will be grounding all of its MD-80 aircraft. Sad news for a small airline that is struggling to make its mark in the ultra ...Abandoned hotels past their days of glory: Which will rise again?
Jun 20th, 2008 at 12:20PM: Over at ProTraveler, there is a read worth noting about eight abandoned hotels in various parts of the world. They once had glory days, but didn't hold onto it for financial woes or pestilence.
These are the places that chronicle shifts of time. Hot destinations that don't stay hot or where the owners made bad decisions. You've probably come across examples of these types of places in your own ...Gadling's airline hit list: five airlines to watch this summer
Jun 17th, 2008 at 9:00AM: With all of the trouble swirling around the airline industry it's hard not to think about this summer and more problems that could occur. Summertime is traditionally a busy time of year, with travel prices and oil going up as vacationers hit the road. This year is a little different though. More Americans are staying home because they can't afford to take that summer vacation to Disney World and ...Oil, the economy and airlines
Jun 3rd, 2008 at 12:00PM: The numbers don't look good for the the airlines this summer, I'm afraid. Small trickles of data keep coming in from every direction pointing to a toxic combination of high oil prices and low demand that are going to be serious hurdles for the industry as the year progresses. Predicting more bankruptcies, Morningstar recently ranked the top carriers by liquidity and debt coverage, highlighting the ...Silverjet ceases operations
May 31st, 2008 at 10:00AM: As expected, Silverjet ceased all operations on Friday, marooning more believers in the "business-class-only" model and completing the hat trick of airlines in that niche to go bankrupt in the last six months. At root of the issue are the same old villains, high oil prices and lack of demand in the business-class-only market. It's just too hard to get started as a niche carrier these days. On ...Last business class only airline almost goes south, bailed out by UAE
Apr 30th, 2008 at 5:30PM: If you've been following the airline industry over the past few months, you may have noticed that things aren't going so hot. Several airlines serving niche industries have gone under including Skybus (budget), Oasis Hong Kong (long haul budget) and Eos and Maxjet (business class only). When the market is tight, niche carriers like above are particularly affected because passengers tend to revert ...
