James Surowiecki of the New Yorker, one of the brightest and most illuminating writers on business and finance, has started a blog.
What with him, Joe Nocera of the New York Times, Justin Fox of Time/Fortune, Daniel Gross of Newsweek, Robert Peston of the BBC and many other print and broadcast journalists drifting online, it feels like a tipping point for business blogging. Read more
Chapter 11 bankruptcy looms for a lot of companies in the US after the initial shock of the financial crisis gives way to recession. This time, however, the likelihood of them being able to re-emerge again after a couple of years in Chapter 11 is not looking high.
Standard & Poor’s estimated this week that the default rate among companies with high-yield debt will rise to 7.6 per cent over the next 12 months. That means that 125 issuers will default in the coming year, which frankly seems more than likely given the shaky state of the US economy. Read more