Archive for February 20th, 2009

Charities Now Seek Bankruptcy Protection

Friday, February 20th, 2009

The director of a bankrupt charity in Los Angeles, Teresa DeCrescenzo, may also lose her house.

In the past insolvent organizations have simply closed their doors and filed a plan of dissolution with the charity regulator in their state.  In today’s messed up economic picture that is changing.

“In the last six months, nonprofit groups that include cultural institutions and social service agencies have filed to reorganize or liquidate themselves under the bankruptcy code.”

“While no one has compiled data on how many charities have turned to the courts for protection, experts in the field say it has become more common as nonprofits have been pressured by donors to operate more like businesses.”

read more…

Newly Poor Swell Lines at Food Banks

Friday, February 20th, 2009

Lawmakers Seek to Return Right to Sue Device Makers

Friday, February 20th, 2009

Huge gamma-ray blast spotted 12.2 bln light-years from earth

Friday, February 20th, 2009