Wednesday, September 23, 2009

Ten Big Companies That Are Veering Toward Bankruptcy

Here's a list for you. Hope you don't work for any of these companies:

1. Hertz

When you have tons of debt financing your fleet of cars, falling rental demand really hurts.

2. Textron

What a tough time to be selling business jets.

3. Sprint Nextel

Sprint Nextel is bleeding customers, and could lose as many as 4.4 million net post-paid subscribers this year.

4. Macy's

Does anyone even shop at department stores anymore?

5. Mylan

In a classic case of management empire building, Mylan overpaid big time when it bought Merck’s generic business back in 2007 and is now stuck with $5 billion of long-term debt as a result.

6. Goodyear

Demand for Goodyear tires has sunk, and the company is saddled with massive debt and pension obligations.

7. CBS

Weak advertising and falling license fees have sent CBS's earnings off a cliff in 2009.

8. Advanced Micro Devices

When will AMD actually make money again? The question is becoming more important by the day since it carries over $5 billion in long-term debt.

9. Las Vegas Sands

Las Vegas Sands over-expanded and over-levered in the last few years and now has over $10 billion in debt to deal with.

10. Interpublic Group

As one of the largest advertising and marketing companies in the world, IPG was slammed by the global recession.

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