The Next 17 Big Companies That Are At Risk Of Bankruptcy
Caesars Palace Las Vegas
American Airlines, Eastman Kodak, Hostess...
Lots of iconic brands have filed for bankruptcy recently. Some blamed weak consumer demand, others pointed to rising commodity costs and pension demands. In any case, you can count on many more companies to follow suit.
GovernanceMetric's International provided us with a list of companies with the greatest probability of financial distress. We picked out the biggest names.
Caesars Entertainment
Caesars Palace Las Vegas
Arnold C via Wikimedia Commons
Financial distress probability: 7.28%
Total assets: $28.9 billion
Founded: 1937
Caesars Entertainment is the world's largest casino entertainment company.
Financial distress probability was calculated by GovernanceMetrics International.
Clearwire (CLWR)
Financial distress probability: 9.54%
Total assets: $8.8 billion
Founded: 2003
Clearwire, a wireless internet service provider, has seen its stock gain 40% since October when investors feared that the company would default on its debt, reported Reuters. In December, Sprint provided the company with a lifeline by agreeing to pay $1.6 billion to Clearwire in the next four years.
Financial distress probability was calculated by GovernanceMetrics International.
McClatchy (MNI)
AP
Financial distress probability: 10.16%
Total assets: $3.0 billion
Founded: 1857
McClatchy, the third-largest newspaper company in the US, has seen a significant drop in its advertising revenue this past year. Currently, the company is focused on its digital advertising in order to make up for the losses, reported Reuters.
Financial distress probability was calculated by GovernanceMetrics International.
AK Steel Holding (AKS:US)
AP Photo
Financial distress probability: 10.98%
Total assets: $4.58 billion
Founded: 1899
AK Steel, formerly Armco, is experiencing some problems with its pension charges and its net loss has doubled since last year, according to a company press realease.
Financial distress probability was calculated by GovernanceMetrics International.
Republic Airway Holdings (RJET)
Flickr/AV8PIX Christopher Ebdon
Financial distress probability: 11.12%
Total assets: $4.2 billion
Founded: 1973
Republic Airways Holdings is an Indiana company that owns Chautauqua Airlines, Frontier Airlines, Republic Airlines and Shuttle America. At the moment, Republic Airways is trying to sell off its troubled asset Frontier, reported Reuters.
Financial distress probability was calculated by GovernanceMetrics International.
Tennessee Valley Authority
John Sevier Combined Cycle Plant
Flickr/TVA eb Team
Financial distress probability: 11.82%
Total assets: $46.39 billion
Founded: 1933
Tennessee Valley Authority, which provides electricity to nine million people in the southeast, needs funds for future projects but cannot afford to take on more dept as its debt ceiling is controlled by the congress. In order to raise funds, TVA has leased the John Sevier Combined Cycle Plant to a group of investors for 30 years at a price of $1 billion, reported Electric Co-op Today.
Financial distress probability was calculated by GovernanceMetrics International.
Office Depot (ODP)
Financial distress probability: 11.90%
Total assets: $4.2 billion
Founded: 1986
Office Depot is a global supplier of office products and services.
Financial distress probability was calculated by GovernanceMetrics International.
Barnes & Noble (BKS)
www.flickr.com
Financial distress probability: 12.05%
Total assets: $4.1 billion
Founded: 1873
Barnes and Noble saw a drop in its stock earlier this month when the company lowered guidance and announced that the company is considering spinning out the Nook business. The simple reason why Barnes and Noble made it while Borders went belly up is the company's investment in Nook and online sales. But can Nook compete with Amazon's Kindle?
Financial distress probability was calculated by GovernanceMetrics International.
Standard Pacific (SPF)
www.standardpacifichomes.com
Financial distress probability: 13.35%
Total assets: $2.2 billion
Founded: 1965
Standard Pacific, a builder of single-family homes, has taken some hits during the housing crisis and has seen recent downgrades from many banks including from CRT Capital, Raymond James and Compass Point, according to LocalizedUSA.
Financial distress probability was calculated by GovernanceMetrics International.
Dynegy (DYN)
alan5o5 via Flickr
Financial distress probability: 13.93%
Total assets: $11.1 billion
Founded: 1984
Dynegy, a producer and retailer of electric energy, capacity and ancillary services, was sued last year by bondholders who believed they were shortchanged by the company's restructuring. The restructuring was done to try and help Dynegy avoid bankruptcy.
Financial distress probability was calculated by GovernanceMetrics International.
Talbots (TLB)
screenshot www.talbots.com
Financial distress probability: 14.86%
Total assets: $0.7 billion
Founded: 1947
Talbots is actively soliciting bids for a sale after turning down a buyout from Sycamore Partners in December, according to Reuters. UBS recently criticized Talbots for a lack of leadership and brand vision.
Financial distress probability was calculated by GovernanceMetrics International.
KB Home (KBH)
Flickr/Brough Turner
Financial distress probability: 15.52%
Total assets: $2.7 billion
Founded: 1957
America's fifth-largest homebuilder gave a reason for optimism recently when it announced a surge in orders for new homes, according to Reuters. But until the housing recovery picks up steam, this company remains at risk.
Financial distress probability was calculated by GovernanceMetrics International.
Unites States Postal Service
Daniel Goodman / Business Insider
Financial distress probability: 17.30%
Total assets: $23.4 billion
Founded: 1775
There have been a few suggestion as how to rescue the USPS from bankruptcy. Among them are laying off workers, cutting its Pension fund, cutting Saturday delivery and even selling ads on the side of its trucks, The question that remains is, can USPS do enough to compete with UPS and FedEx?
Financial distress probability was calculated by GovernanceMetrics International.
Thomas Cook Group (TCG:LN)
Flickr/ell brown
Financial distress probability: 17.94%
Total assets: $10.43 billion
Founded: 2007
Thomas Cook Group, created through the merger of Thomas Cook AG (iconic British travel agency dating as far back as 1841) and My Travel group, has been flirting with bankruptcy for years. In 2009, Arcandor, which owned 52% of the company, filed for bankruptcy, according to the Daily Mail. In November, Prime Minister David Cameron called on banks not to let this "important and iconic British brand" fail, reported the Guardian,
Financial distress probability was calculated by GovernanceMetrics International.
Air France (AF:FP)
Wikimedia Commons
Financial distress probability: 18.99%
Total assets: $37.1 billion
Founded: 1933
After a number of staff strikes, Air France is currently working on a turnaround plan, reported Reuters, which includes a hiring freeze, a pay freeze and cutbacks to its fleet.
Financial distress probability was calculated by GovernanceMetrics International.
Imperial Sugar (IPSU)
Flickr/David Sledge
Financial distress probability: 20.37%
Total assets: $0.5 billion
Founded: 1843
Imperial sugar, processor and marketer of refined sugar, is expecting to post significant losses for the past year in addition to its 59% drop in stock prices, according to Houston Chronicle. What's more, the company's auditors are questioning the company's ability to stay afloat.
Financial distress probability was calculated by GovernanceMetrics International.
Dendreon (DNDN)
Financial distress probability: 30.62%
Market cap: $0.9 billion
Founded: 1992
After underperforming in sales of its prostate cancer vaccine Provenge, biotechnology company Dendreon saw a 65% drop in stock in August. However, things might be looking up for the company after reporting huge revenue growth in the fourth quarter.
Financial distress probability was calculated by GovernanceMetrics International.
Go visit www.entertainmentmusiclife.com now, is it a cool sight with a lot of tools for creative people to inspire themselves, hone their crafts and market themselves!!!
And don't forget to please buy your copy of "Dying For Her Love "
Don't judge a book by its cover!
This is real life shit!!!
Read The Book...Read The World!
Read it before the scandal hits the airwaves really really soon and it becomes sold out!!
Available in hardcover, softcover and kindle/ebooks
Reviews:
ARE YOU SINGLE?! If anyone ever wrote a love letter like this to me I would marry them on the spot. Just goes to show that their still are guys out there that care more about the power of romance than the power of hooking up.
- By Cross ur heart and pinky
"aloha jack ;) reading your book makes me cry & laugh - you're amazing! thank you <3"
-By +kerstin caroline krüger
I JUST READ DYING FOR HER LOVE, VERY PASSIONATE!!
- By Dawn Giggiu
“Great ink! keep slinging that ink!”
- By MELODIC DREAMS
“Cute” -
- By Kenz
Dying For Her Love - Featuring the Following song "Crying Out"
[youtube http://www.youtube.com/watch?v=cSX6EDsM3pg&w=420&h=315]
Frtee Download of "Crying Out" or embed it to your site or blog
[soundcloud url="http://soundcloud.com/jackdazey/04-crying-out"]
Or buy via:
iTunes
Amazon
The JackDazey Project Vol. 1 by JackDazey on Napster
The Jackdazey Project Vol. 1 | Jackdazey Album | Yahoo! Music
Rhapsody :: Subscription Music Service: Listen All You Want: Millions of Songs
eMusic | eMusic
Amazon
Dying For Her Love - a love diary by Jack Dazey in Romance
[soundcloud url="http://api.soundcloud.com/playlists/1334846" params="showcomments=true&autoplay=false&showplaycount=true&showartwork=true&color=00a5e6" width="100%" height="225" ]
Top 40 The JackDazey Project 2.0 (Love is Love Set) by JackDazey
