Worst company collapses in US
Below are the list of US companies faced collapse due to lose or fraud which known as the biggest company collapses in the US history. These collapses given enormous lose and pain to number of investors and customers world wide and it made the eminent stock markets to run down for long time. Know about those biggest tragedies here:
1. Lehman Brothers: One of the biggest investment banking firm in US. the totla loss is $61,300 Cr. company established on 1844 and collapsed on 15th September, 2008.
2. Washington Mutual: An 119 years old eminent Mutual fund company. Total capital base of $30,700 Cr. Company has been acquired by JP Morgan Chase for $180 cr.
3. World com : Second largest company handling internet data in US. Established on 1983. Total lose estimated to $10,391 Cr. Files against bankruptcy on 2002 July, 21.
4. Enron Corporation: Biggest fortune 100 listed company engaged to electricity and gas industry. an estimated lose was $6,339 Cr. Collapsed on 2002 December 18.
5. Texaco: One of the largest oil company in US. Company established on 1901. Estimated total lose was $3,589 Cr. Texaco files for bankruptcy on 1987.
6. Refco: One of the biggest financial services company established on 1969.Total lose for the company was $3,333 Cr and files for bankruptcy on 2005 October 17. Refco's chief executive, Phillip Bennett, had been charged with defrauding investors sent to jail to serve 16 years term.
7. Conseco Inc: An insurance, investment and lending company filed for bankruptcy on Dec. 17, 2002, after a consolidated lose of $6139 Cr.
7 Creative Comments are Rare Specious. Try One::
Recently an insurance company nearly wind up....
A bank is nearly bankrupt......
Who fault?
The top management of the Public listed company ( belong to "public" ) salary should be tied a portion of it to the shares price ( IPO or ave 5 years ).... so when the shares price drop, it don't just penalise the investors, but those who don't take care of the company.....If this rule is pass on, without any need of further regulation, all industries ( as long as it is public listed ) will be self regulated......
Sign a petition to your favourite president candidate, congress member again and ask for their views to comment on this, and what regulations they are going to raise for implementation.....If you agree on my point, please share with many people as possible....
http://remindmyselfinstock.blogspot.com/
I strongly reply with you except signing a petition to the presidential candidate. That will not make any changes. People should understand that, they should first eat before giving to dogs... if you have brilliancy, understand the hidden meaning of that. Let all think about there on countries prosperity first before involving others problem to solve.
Sherin - Investinternals
Perhaps the US should begin to print its own money and throw out the hudlums of the Federal Reserve. IMF will pull its credit, looks like they are doing that now.
www.laurabaratart.blogspot.com
Great list of companies. I agree to some of this. Though there is more fraud companies. I wish we can bring all them down.
You are right Laura. Nothing to say more than what you said. thanks for the comments.
Wishes from Sherin
http://investinternals.blogspot.com
it's a shame when companies end up in bankruptcy, especially insurance companies when sued. the bankruptcy law is one big loophole, IMO.
You are right in some extend. There is no option other than sink into water, if you are not getting a chance to fix your foot in the flooding water for long term. That is happening to these companies too.
Sherin
http://investinternals.blogspot.com
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