Who Will File For Bankruptcy Next?

According to the USA Today, the Tribune Company is contemplating filing for bankruptcy protection under Chapter 11.  The Tribune Company has not filed for bankruptcy protection yet; however, it’s management is looking at the option of bankruptcy, as any good management team would in today’s economy.

Of Course, the Tribune Company’s contemplation of Bankruptcy, is enough to scare the public, and make headlines.  Why?  According to it’s website, the Tribune Company reaches more than 80 percent of the households in the United States.  A few of its holdings are the Los Angeles Times, the Chicago Tribune and the Chicago Cubs baseball team.

The problem is debt and the credit crunch.  The company is having problems liquidating assets because of the credit crunch.  Amazingly, it sounds all too familiar.

This weekend I heard on the radio that over 700 car dealerships have already failed and that another 200 will fail by the end of the year.  I wish I would have paid a little closer attention, as I would have loved to find out where this number came from.  It sounds way too high, but then again, as I ride through Fort Myers, it seems like every other building on U.S. 41 is either for sale or for rent.

This made me wonder.  Who will be the next big retailer or restaurant chain to file for Bankruptcy protection, and more importantly, why?

I don’t want to sound pessimistic or as if I can’t wait for another company to file for bankruptcy protection, but, you must understand that we are living in unprecedented times.  Each and every day new economic details are being leaked.  The government is printing money faster than ever.  The national debt may soon be eclipsed by our deficits.  The stock market is rising and falling like a rollercoaster ride at DisneyWorld, and there are new government plans everyday to deal with the economic chaos.

So, when the history books are written, they better be e-books because there is so much news, they will make the old encyclopedia britannicas look like children’s books.