My father is the CEO of a small corporation, in which he owns a 100% equity interest . The company has only two employees. The corporation’s funds will be exhausted in a matter of several days. His lines of credit have been suspended and his cash reserves are almost fully depleted. What is the cost of a corporate bankruptcy attorney in California (on average)? A ballpark figure or range would be appreciated. Can he represent himself (unfortunately, he has no legal background whatsoever)? Are there any low-cost templates or software to do the filing?
Thanks to ‘kckid2′ for the Nolo press link. Unfortunately, my quick tour through the table of contents indicated that the book is geared toward personal bankruptcies (rather than corporate ones).

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I want to killing myself right now. My company was filed bankruptcy last week hasn’t paid of my last wages. Saturday when I was refilled my prescriptions I found out my medical FSB account locked up couldn’t paid for my prescriptions. I still have 0 in this FSB account. what can I do? I really need this money, coming I have a few doctor appointment in this 2 months. What can I do? I need someone tell me where and what should I do? One more thing the CEO said he was not fired us so I can’t file unemployment benefit. He only told us to wait for the trustees to contact us. How come a CEO can do that for his people. I feel so sad and how can the people do that for me. Hope someone can help me of my question. Thanks.

Technorati Tags: bankruptcy, ceo, doctor appointment, fsb, money, prescriptions, question thanks, unemployment, wages

This may just be ignorance however I do not understand it. I just read a question by a top contributor of these questions complaining that he doesn’t understand why the government won’t provide funds for auto companies in order to bail them out of their possible bankruptcy. The thought of providing these businesses with tax dollars from the American public is insane. In my opinion the auto companies have no one to blame but their own greed and the way they decided to go with their business, the government would not bail out a business that the average American built and used every dime of their personal money to invest into the business, while CEO’s of the auto companies STILL are taking in millions of dollars a year and expecting the government (moreover the American people) to basically paying their salaries, when it was the direction they took in their company to blame for the problem they are in now. With exponential growth especially in business comes exponential decline and they should have taken precautions to prevent this from happening. Aside from their bad business decisions these are the same businesses that closed down factories in the United States, which were employing thousands of American workers, to move to China were labor was cheaper. This brought upon record unemployment rates in Detroit. Who in turn need government assistance to be able to provide for their families because they were screwed over by their employer. I understand that their are people who are a drain on society and are wrongfully collecting welfare but aside from those individuals Welfare helps out people WHO HAVE NOTHING and are asking for the governments help to keep a roof over their head. Another point that needs to be addressed in Auto Makers is the money that they received from big oil to not research alternative fuels, even though the impending Global Warming was a huge issue. Which means in a sense they may have screwed over the Human Race by destroying our planet. I don’t know I may just be venting but isn’t it the ethical for these CEO’s to take a money cut for the benefit of their company instead of asking for the governments help, providing that they never seemed to really truly care of the American public?

Roads???? read this if you think that our tax dollars even go to roads first off……

http://www.americanchronicle.com/articles/11028

Second off the whole idea is the current CEO’s of the business still raking in millions from their business, which is failing and asking for government help what happened to darwin and survival of the fittest, does it not pertain to business?

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HELP! I need to write a huge paper on this..any insight would be appreciated!

Accountants are frequently faced with situations where they must make critical decisions that will affect many people. Having a plan for how to analyze these situations will help you to make better decisions.
The first step is to recognize that you are faced with a situation where there are ethical issues involved. For this, you have to rely on your own ethical compass as well as standards and statements from professional organizations and from your employer. In this particular situation, you already know that the issue presented involves an ethical dilemma.

To continue your analysis, identify the stakeholders — those who have an interest in the outcome of the decision. Put yourself in their situation and try to understand their perspective. What are the ethical perspectives of each major stakeholder? What codes of conduct apply? What laws apply?

Once you understand the responsibilities and obligations of each stakeholder, analyze the various alternative choices available. What are the consequences of each alternative? Now choose the best from among the alternatives you identified.

Here is the situation I would like you to analyze. This is a true story.

"A Chief Executive Officer (CEO) of a million company that repairs aircraft engines received notice from a number of its customers that engines that it had recently repaired had failed, and that the company’s parts were to blame. The CEO had not yet determined whether his company’s parts were, in fact, the cause of the problem. The Federal Aviation Administration (FAA) had been notified and was investigating the matter.

What complicated the situation was that the company was in the midst of its year-end audit. As part of the audit, the CEO was required to sign a letter saying that he was not aware of any significant outstanding circumstances that could negatively impact the company — in accounting terms, of any contingent liabilities. The auditor was not aware of the customer complaints or the FAA investigation.

The company relied heavily on short-term loans from eight banks. The CEO feared that if these lenders learned of the situation, they would pull their loans. The loss of these loans would force the company into bankruptcy, leaving hundreds of people without jobs. Prior to this problem, the company had a stellar performance record."

Write a paper analyzing this ethical situation according to the model described above. When you list the alternative choices and their consequences, be sure to include both possible outcomes of the FAA investigation — whether the company was responsible, or whether the company was not at fault.

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I need to know what others think out there …

I’ve owned 3 Cherokees (XJ) and 2 Grand Cherokees

Currently own a 1998 Teal/Blue XJ CHEROKEE 4WD 5SPD 4 doors 4.0 I6 NEW RARITY as I’ve heard – Try searching for a manual 4wd Cherokee above a 97 and see how many you find…(autotrader or any other)

I do NOT want Jeep to go out of business just because of a stupid car company … They have been switched from so many other companies and I feel "JEEPERS" need to take over the company and restructure the JEEPS and get rid of LIBERTYS / COMMANDERS and GO BACK to the SQUARE BODY and BRING ME BACK MY I6 CHEROKEES
Yes I know they are already Bankrupt…

Yes I know Fiat "maybe" wants to take them over… but what will it mean for JEEP if they don’t?

New CEO should listen to REAL JEEPERS for once !

Technorati Tags: 4wd, autotrader, car company, ceo, doors, fiat, grand cherokees, jeep, jeeps, rarity, stupid car, teal blue, xj cherokee

I know a company can file for different types of Bankruptcies, like Chapter 11 which allows a company to reorganize, or Chapter 7 which involves the process of Liquidation….but my question is, once a company has declared Bankruptcy, who in the company is actually responsible for going through with everything? The CEO and CFO? The stockholders? The private investors? The federal government?
Like, what if a company files Bankruptcy and they owe their investors money….what if they are unable to repay the investors, even after the liquidation process?

Technorati Tags: bankruptcy, ceo, chapter 11, chapter 7, federal government, liquidation, money, private investors, stockholders, types of bankruptcies