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[Commentary] © 2001 Philip Hyde, The Timesizing Wire™, Box 622 Cambridge MA 02143 USA (617) 623-8080

Bankruptcies, March-July/2001

7/31/2001  1 bankruptcy in NY Times (NYT) & Boston Globe (BG) -

7/27/2001  1 bankruptcy in NY Times (NYT) & Boston Globe (BG) - 7/18/2001  1 bankruptcy story in NY Times (NYT) & Boston Globe (BG) [not counting "Sterling Chemicals files Chapter 11," AP-NY-07-17-01 0952EDT via AOLNews via RadioTony] - 7/17/2001  1 bankruptcy story in NY Times (NYT) & Boston Globe (BG) - 7/13/2001  1 bankruptcy story in NY Times (NYT) & Boston Globe (BG) - 7/10/2001  1 bankruptcy reported in NY Times (NYT) & Boston Globe (BG) - 7/06/2001  1 bankruptcy reported in NY Times (NYT) & Boston Globe (BG) -

7/03/2001  2 bankruptcies reported in NY Times (NYT) & Boston Globe (BG) -

  1. Metricom files for bankruptcy protection, by Simon Romero, NYT, C6.
    ...The move by the company, based in San Jose, Calif..\..which operates the Ricochet high-speed wireless Internet service...underscor[ed] difficulties in what had been the much-vaunted mobile Internet industry....

  2. Foster & Gallagher Inc., NYT, C4.
    Grand Rapids, Mich., sought Chapter 11 bankruptcy protection days after the privately held catalog and Internet retailer announced it will fire substantial part of its work force.

6/29/2001  1 bankruptcy reported - 6/28/2001  1 bankruptcy reported - 6/27/2001  1 bankruptcy mentioned - 6/26/2001  1 bankruptcy mentioned - 6/21/2001  1 bankruptcy mentioned - 6/19/2001  1 bankruptcy/liquidation mentioned - 6/16/2001  2 bankruptcies mentioned -
  1. Vlasic Foods International, maker of pickles, files bankruptcy plan, Bloomberg via NYT, B3.
    ...the nation's leading pickle maker....
    [Gawd, if the Nation's Leading Pickle Maker can't make it, we're in deep kimshee!]

  2. Learning Network files for Chapter 11, Bloomberg via NYT, B4.
    Caliber Learning Network Inc., the online training provider backed by Sylvan Learning Systems Inc.,...because of continuing losses and mounting debts....
6/13/2001  Reliance Group Holdings seeks bankruptcy protection, Reuters via NYT, C4.
...and...agreed to a restructuring plan with some of its creditors....

6/12/2001  1 bankruptcy & 1 bankrupt bill report -

6/05/2001  2 bankruptcies mentioned -
  1. Payless Cashways files for Chapter 11 protection, AP via NYT, C4.
    ...after the company's decision last month to lay off hundreds of employees and close 19 stores. Payless, based in Lee's Summit, Mo., sells building materials and finishing products.... Millard Barron, the president and CEO, blamed poor economic conditions and an unusually harsh winter that led to lower-than-expected sales.

  2. Marketing Specialists Corp. fires most of its 5,700 workers, by Ross Kerber, BG, D2.
    Food broker...laid off the majority of its...employees...following a Chapter 11 bankruptcy filing last month...May 24..\.. Marketing Specialists, now based in Dallas, never achieved the efficiencies its founders had hoped for....

6/02/2001  2 bankruptcies mentioned -
  1. PSINet, Internet concern, files for Chapter 11, AP via NYT, B3.
    ...Internet communications provider...based in Ashburn, NY...had total assets of $2.2B and total liabilities of $4.3B.
    [Giving us a debt of $2.1B.]

  2. Etc.- Artificial Life Inc., Globe staff & wire services, Boston Globe, C1.
    ...a money-losing software developer...shut its Russian offices and is seeking bankruptcy protection for units in Germany and Switzerland....
6/01/2001  1 bankruptcy mentioned - 5/31/2001  1 bankruptcy mentioned - 5/24/2001  1 general bankruptcy story slipped through into the Times but got carefully buried on page C12 - 5/22/2001  1 bankruptcy reported - 5/19/2001  1 bankruptcy reported - 5/18/2001  2 bankruptcies reported -
  1. Dot-com's customers in limbo - CyberRebate files for Chap. 11, holds $80m owed to users, by Bruce Mohl, BG, E1.
    About 200,000 consumers were reeling yesterday from the bankruptcy filing of...a popular Web site that promised its customerss free merchandise if they were willing to pay an inflated price up front and then wait three months for a full rebate check....
    [Suckers can't tell a pyramid scheme when they see one.]
    CyberRebate.com...based in Cedarhurst, NY, reported [total] liabilities of approximately $100m....

  2. Tandycrafts files for Chapter 11 as refinancing fails, AP via NYT, C4.
    ...The home-decor retailer has filed...after it failed to refinance its debt or get an extension on its credit.... The company, based in Fort Worth...listed $64m in assets and nearly $53.4m in liabilities.
5/16/2001  1 bankruptcy reported - 5/15/2001  1 bankruptcy reported - 5/03/2001  2 bankruptcies/liquidations mentioned, with unspecified debt -
  1. Battered by the economy, Hook Media, an online agency, files for bankruptcy protection, by Stuart Elliott, NYT, C6.
    ...under Chapter 11..\..and is preparing to sell most of its assets to a division of Havas Advertising....

  2. Battered by the economy..., by Stuart Elliott, NYT, C6.
    ...the Worldwide Xceed Group, a Web designer in New York, filed for federal bankruptcy protection..\..on Monday [and] sold the assets of two offices, in Chandler, Ariz. and Colorado Springs....

5/01/2001  2 bankruptcies/liquidations mentioned, with unspecified debt -
  1. American Appliance files for Chapter 11 bankruptcy, AP via NYT, C4.
    ...a regional appliance and consumer electronics chain [with] 24 stores in NJ, Pa., and Del..\..that closed it s stores abruptly last week....

  2. MarchFirst to liquidate after asset sales failed - The end comes for an Internet consultant dealt a series of blows, Reuters via NYT, C7 (& C4, shorter version).
    [We've mentioned Chicago-based MarchFirst's bankruptcy repeatedly in the past (e.g., 4/13 below) but we're assuming this is a step to yet deeper oblivion.]
    ......it obtained an order last week...converting its Chapter 11...filing for reorganization into a Chapter 7 filing for liquidation. Chap.11 allows a company to run its [own] business, while Chap.7 puts an [outside] trustee in charge....

4/25/2001  1 bankruptcy/failure mentioned, with unspecified debt - 4/24/2001  2 bankruptcy/receivership's mentioned, with unspecified debt -
  1. Gerald Stevens Inc., NYT, C4.
    ...Fort Lauderdale, Fla., a leading marketer of floral products [will] file voluntary Chapter 11 bankruptcy petitions.

  2. Hub Local 254 placed in receivership, by Diane Lewis, Boston Globe, D5.
    The Service Employees International Union has placed a Boston local in receivership following the suspension of its business manager for illegally driving a union car after the revocation of his license....

4/19/2001  1 bankruptcy mentioned, with $1.3B + unspecified debt - 4/18/2001  1 bankruptcy mentioned, with $1.3B + unspecified debt - 4/17/2001  4 bankruptcies mentioned, with $1.3B + unspecified debt -
  1. AMF unit plans to file for bankruptcy protection, Reuters via NYT, C4.
    The CEO of AMF Bowling, the world's largest bowling alley operator, said yesterday that its AMF Bowling Worldwide unit would probably file...while continuing to restructure its $1.3B debt load....
    [Done, according to "AMF Bowling files for bankruptcy protection," Reuters via 7/04/2001 NYT, C4. And then we have "AMF Bowling Inc. {Richmond, Va., filed for bankruptcy protection yesterday, just weeks after its subsidiary, AMF Bowling Worldwide, did the same}, 8/01/2001 NYT, C4." ]

  2. Tenet Healthcare buys its 5th hospital in Atlanta area, Reuters via NYT, C4.
    ...The South Fulton Medical Center...has been operating under Chapter 11 bankruptcy protection.

  3. Track 'n Trail, NYT, C4.
    ...El Dorado Hills, Calif., a footwear retailer, filed for Chapter 11....
    [Guess they didn't find El Dorado in them Hills.]

  4. Vision Metals, Inc., et al.,, bankruptcy notice, NYT, C9.
    ...Chapter 11..\..District of Delaware....

4/14/2001  1 bankruptcy story - 4/13/2001  1 bankruptcy story - 4/09/2001  1 weekend bankruptcy story - 4/07/2001  4 bankruptcies in NYT & Boston Globe (BG), totalling $9.013B + unspecified debt -
  1. California's largest utility files for bankruptcy, by Laura Holson, NYT, front page.
    The Pacific Gas & Electric Co [PG&E]...Chapter 11...declaring that politicians and regulators had not moved quickly enough to resolve an energy crisis that has caused periodic rolling blackouts and is costing the state billions of dollars.... The filing...shifts decision-making about crucial aspects of the California energy debacle from officials in Sacramento, the state capital, to a federal bankruptcy court in San Francisco, where PG&E has its HQ.
    The utility hopes to have more success in court in trying to win relief from $9B in wholesale energy debt it says it has incurred since prices began soaring last May. Legislators and regulators have been loath to bail out PG&E or the No. 2 utility, Southern California Edison, whose billions in debt to wholesalers and marketers stem from flawed state deregulation that did not allow the utilities to pass on rising costs to consumers....

  2. Goldings' law firm files for Chapter 11 - Decision follows failed settlement talks - Partners will continue providing services and plan to emerge from the reorganization intact, by Kimberly Blanton, BG, C1.
    Mahoney Hawkes LLP yesterday filed..., a response to lawsuits by former clients and business associates of Morris Goldings who allege that $13m entrusted to Goldings for legal work in recent years disappeared.... a significant setback to the well-known firm that founded 40 years ago by Goldings and prospered as a midsize niche firm in Boston's legal community.... Goldings...is being investigated by the FBI....

  3. Ursus Telecom and its Access Authority unit file bankruptcy, Reuters via NYT, B3.
    The international long-distance carrier...said yesterday that it and its Access Authority Inc. unit had filed for Chapter 11 [which] frees a company from the threat of creditors' lawsuits while it reorganizes its finances.

  4. and 5.  Nursing homes squeezed by costs - Operators blame Medicaid payments, by Anne Barnard, BG, front page.
    Three more Massachusetts nursing homes [Salisbury Nursing & Rehabilitation Center and Wayside Center Nursing Home in Worcester, and the third one unnamed in the entire article] announced this week that they plan to close their doors, bringing to 53 the number of facilities shuttered since the beginning of 1999 and spotlighting the industry's distress over high operating costs and government reimbursements that do not cover expenses.... The announcement of three closures in a single week raised the specter of possible bed shortages in a state that had a surplus of nursing homes three years ago..\..
    Stephen Flanagan, administrator [at] the Salisbury...said the state repays him $104 per day to care for Medicaid patients, while the care costs $124.... "The bills are paid.... But the owners have been putting hundreds of thousands of dollars into it every year just to keep the place open," he said....

4/06/2001  2 bankruptcy mentions in NYT or Boston Globe (BG) -
  1. Taunton [Mass.] company files Ch.11 petition, Dow Jones via BG, D5.
    Advanced Deposition Technologies Inc. filed a voluntary petition...in District Court in Boston.... The company attributed the bankruptcy filing in part to actions taken or anticipated by the Bank of Canada against it....
    [Go, Canada! "No more Mr. Nice Guy!"]

  2. Home exemptions snag bankruptcy bill, by Philip Shenon, NYT, front page.
    The life of the onetime corporate raider Paul A. Bilzerian would seem to be a shambles right now. He declared bankruptcy in Florida in January, listing $140m in debts...but at least [he has] someplace to go home to. In Florida...state law allows debtors to shield their homes from creditors, even multimillion-dollar mansions. And for Mr. Bilzerian, home is a $5 million, 11-bedroom, 36,000-square-foot estate, the largest private residence in the Tampa Bay area, complete with indoor basketball court, movie theater, nine-car garage and its own elevator.... The...unlimited homestead exemption also exists in Texas [as in "Bush country"], Iowa, Kansas, and South Dakota....
    But the practice is under threat by a bill pending in Congress to overhaul the nation's bankruptcy system, and lawmakers from those states have gone on the attack. To dismay of credit card companies, banks and retailers that have lobbied for years to make it harder for people to escape their debts in bankruptcy, the debate over the homestead exemption is now threatening to derail the bill.
    [We LOVE it. The greedy rich face off against the shyster rich. And there's more -]
    The issue has the potential to embarrass the White House. While President Bush has been an avid supporter of a bankruptcy overhaul [siding with the greedy rich], he was also a passionate defender of the unlimited homestead exemption when he was governor of Texas [siding with the shyster rich]....
    [(Unison voices from off-stage, dripping with unctuousness:) "Our hearts go out to him in this, his time of inner turmoil."]

4/4/2001  1 bankruptcy in NYT or Boston Globe (BG) - 4/03/2001  2 bankruptcies in NYT or Boston Globe (BG) & 1 bird's-eye view from Reuters -
  1. Grace files for Chapter 11, citing costs of asbestos suits, by Brick & Milford, NYT, C2.
    W.R. Grace & Co., a distributor of chemicals and building materials, filed yesterday for...bankruptcy protection.... The Chapter 11 filing by the company, based in Columbia, Md., excludes its foreign subsidiaries.
    [To whom it has probably transferred everything of value.]
    Grace listed assets of $2.51B and liabilities of $2.57B in its...filing in Wilmington, Del..=\..
    [Giving it a listed debt of .06B = $60m.]
    Since 1982, 26 large asbestos companies have filed for bankruptcy protection....
    [Now if we could only get rid of the cigarette companies, and the handgun companies and quit making money on addiction and death....]

  2. Etc. - Ozer Group, Globe staff and wire services, BG, C10.
    ...plans to...auction...the brand name and intellectual property rights of Nevada Bob's Golf Inc., a Toronto retail chain that filed for bankruptcy protection last year.
    [But unreported in NYT or BG then, so we're counting it now.]

  3. Workplace: Employee debts may keep employers up nights, too, by Sherwood Ross, Reuters 20:01 04-02-01 via AOLNews.
    When employers can't concentrate on work because of their credit card debt, employers may be smart to start worrying, too. With credit card debt and bankruptcies soaring, there's a thunderstorm of financial misery drenching millions of American workers - and its residual damage is seeping into the workplace.
    Total consumer debt in America is now over $1.4 trillion, up from $900 billion in 1994.  A reflection of this debt will be the 1.5 million bankruptcies expected to be declared this year - a 25% increase over 2000....
    Tom Garman, distinguished scholar at the InCharge Institute of Orlando, Fla...noted that 40% of the population are making car payments and that more than 50% are making monthly credit card payments.... According to the Federal Reserve Board, in January consumer credit grew at an annual rate of 12.5%, suggesting that people are borrowing ever more heavily..\.. Some lending institutions today charge interest rates high enough to make a loan shark blush. "Some people are paying as much as 30% interest rates to Visa," said Garman....
    [And the shift from one annual $29 fee to late fees of $29/mon. don't help.]

3/27/2001  Network Connection Inc., NYT, C4.
...Philadelphia, a developer of broadband entertainment, information and e-commerce systems...filed for Chapter 11 bankruptcy reorganization with the U.S. Bankruptcy Court for the Eastern District of Pennsylvania.

3/22/2001  1 bankruptcy in NYT or Boston Globe (BG) -

3/21/2001  1 bankruptcy/closure in NYT or Boston Globe (BG) - 3/20/2001  1 bankruptcy in NYT or Boston Globe (BG) - 3/17/2001  1 bankruptcy in NYT or Boston Globe (BG) - 3/14/2001  3 bankruptcy stories in the NYT & Boston Globe (BG) -
  1. Star Telecommunications, NYT, C4.
    ...Santa Barbara, Calif., has filed for Chapter 11 bankruptcy protection, days after Nasdaq halted trading in the company's stock pending "additional information."

  2. Reebok International, NYT, C4.
    ...Canton, Mass., has bought the operating assets of LogoAthletic, Indianapolis for about $13.8m. LogoAthletic markets apparel adorned with professional and college team emblems. It filed for Chapter 11 protection in November, received approval last week from a federal bankruptcy judge in Delaware, and the sale closed Friday.

  3. How [bankruptcy] bill in Senate would add hurdles to erasing of debt, by Philip Shenon, NYT, front page.
    WASHINGTON...- For many Americans among the more than one million debtors whose financial troubles are expected to drive them into bankruptcy next year, the route to a fresh financial start will be far more complicated under a bill that is now before the Senate and appears likely to become law.... For many debtors, the idea that bankruptcy offers a true, fresh start would disappear. After emerging from bankruptcy, they would still be responsible for paying off some of their unsecured debts, even if that meant dividindg their paychecks between the old crediti-card bills and current child-support payments, alimony and other court-enforced obligations. The bill has been endorsed by "President" Bush [our italics - ed.] and is being championed by the credit-card and banking industries.... During last year's election campaign, they backed up their lobbying effort with millions of dollars in political contributions to key members of Congress and with some of the largest corporate donations to Mr. Bush....

3/10/2001  2 bankruptcies in the NYT & Boston Globe (BG) -
  1. Fas Mart Convenience Stores Inc., NYT, B3.
    ...Richmond, Va...filed for Chapter 11 bankruptcy protection to restructure its debt, citing slumping margins in the gasoline business. All of Fas Mart's 170-plus stores will remain open...and none of its 1,600 employees will be laid off.

  2. South Korea contractor is ordered to liquidate, by Don Kirk, NYT, B2.
    SEOUL...- In a sign of a toughening stance against deeply indebted companies, a court today ordered the liquidation of the Dong Ah Construction Co., a major international contractor and South Korea's second largest behind Hyundai Engineering & Construction. The court rejected a proposal by the company that it be put into receivership instead....
    One immediate effect of the ruling was that it could jeopardize the completion of Dong Ah's 130 construction projects around the world, most notably a large waterway project in Libya, from which the company hoped to reap $10B.... Dong Ah's demise was seen as a result of reckless expansion and overspending int hte 1990's....

3/09/2001  1 bankruptcy story in the NYT or Boston Globe (BG) - 3/08/2001  3 bankruptcy stories in the NYT or Boston Globe (BG) -
  1. Finova Group files for bankruptcy protection, Reuters via NYT, C4.
    ...Chapter 11...Wilmington, Del..\..as part of a planned takeover by Berkshire Hathaway.... The bankruptcy is one of the nation's largest ever, with Finova and eight of its operating units listing $11.4B in liabilities and $12.5B in assets....
    [Hell, that's nuthin'. When the Japanese go bankrupt these days, they go for $43B in straight liabilities (10/22/2000).]

  2. EToys files for bankruptcy, AP via NYT, C4.
    ...Wilmington, Del...
    [They must have bankruptcy laws as loose as Liberia's inspections for licensing oil tankers.]
    ...as of Dec. 31...assets $416.9m...debts $285m. But...debts now far exceed assets....

  3. [Our "democratic" leaders shove us further toward the Third World -]
    Senate rejects medical shield in bankruptcy, AP via NYT, C4.
    WASHINGTON...- The Senate voted [yester]day not to allow people seeking bankruptcy protection because of huge medical bills to have a better chance of erasing their debts in court than consumers filing for other reasons.
    Senators voted 65 to 34 to reject the exemption for medical debts from sweeping bankruptcy legislation...that has been pushed by the banking, credit card and retail credit industries \and\ that would force many consumers to repay their credit card and other debts eventually, rather than have them dissolved.
    [So let's see. They reduce Medicaid, and hospitals and nursing homes all over the land go broke. People with little money start putting their catastrophic medical bills on their credit cards. They toughen up bankruptcy including for catastrophic medical bills and people go into debt for life. Why not cut to the chase and reinstitute debtors' prison? Hey, why not go all the way and repeal the abolition of slavery (13th Amendment to the Constitution of the "Land of the Free")? - we've got a lot of it operating in the garment industry in Los Angeles already anyway - those charming women from Burma and Thailand who deny everything. Hey, Dubya, here's Kate's suggestion - why not keep it simple and instead of tougher bankruptcy and taxcuts for the rich, just make us each pay the wealthy $100 - it'll apparently mean sooo much to them. Or just do an omnibus bill - "We hereby revoke and rescind all the outdated legislation of the 1930s that we learned the hard way from the onset of the Depression itself, whether in banking or employment or social security or anything, because we believe the economy is sound and on a permanently prosperous plateau, like a vast infinite ocean that will take any amount of pollution, and as we all know, 'the solution to pollution is dilution,' never mind 'the tragedy of the commons.'"]
    It was the first Senate vote related to the bankruptcy legislation, which overwhelmingly passed the House last Thursday.... The amendment exempting medical debts was proposed by Senator Paul Wellstone of Minnesota...a leading opponent of the bankruptcy legislation. "We know that in the vast majority of cases, bankruptcy is a drastic step taken by families in desperate financial circumstances and overburdened by debt," Mr. Wellstone said before the vote. "We know that nearly half of all debtors report that high medical costs forced them into bankruptcy. This is an especially serious problem for the elderly."
    [So are the Dems going to have the smarts to run this guy for prez next time or are they going to keep screwing around with Clinton-cluttered Gore?]
    A study published last May found that huge medical bills played a significant role in personal bankruptcies, accounting for about 40% of the filings in 1999. About 500,000 Americans filed for bankruptcy protection in 1999 at least in part because of heavy medical expenses, according to the study. The financial misfortune can befall people with health insurance as well as the uninsured because some insurance policies are inadequate.... The study also found that elderly Americans and women, as well as families headed by single women, were the groups in bankruptcy hardest hit by medical expenses....

3/07/2001  1 bankruptcy reported in the NYT or Boston Globe (BG) - 3/06/2001  1 bankruptcy reported in the NYT or Boston Globe (BG) - 3/05/2001  1 weekend bankruptcy, with $480m in debt - 3/02/2001  2 bankruptcy stories -
  1. Bankruptcy bill gains, pointer blowout (to A18), NYT, front page.
    The House overwhelmingly approved a bill that would overhaul the nation's bankruptcy system and make it much harder for people to wipe out their debts.
    [So the creditcard folks must have got to a lot of "Democrats" too. This will further weaken the already weak centrifuge on wealth in our slide into the Third World.]

  2. [But we can take comfort in the fact that, though we're the No.1 economy, the No.2 economy is ahead of us in the downward slide -]
    Japanese theme parks facing rough times, by Miki Tanikawa, NYT, W1.
    TOKYO...- As Japan's government and private industry grapple with immense debts, fresh storm clouds blew in last week from an unlikely quarter: theme parks.
    A bankruptcy filing by Phoenix Resort, a theme park operator, has now cast a harsh spotlight on problems in what Japan calls its third sector, enterprises partly owned by local governments.... The company...runs Seagaia, a mammoth artificial beach complete with retractable roof and wave-generating machine. [It] is only one of hundreds of third-sector enterprises reeling from financial difficulties stemming from the bubble economy of the 1980's.
    [It wasn't a bubble in Japan until they started discarding lifetime employment and copying our downsizing. That's how they shrank their consumer base, and that's how we're shrinking ours.]
    There are 6,794 corporations in Japan in which a municipal body holds a stake of 25% or greater...and nearly one-fifth of them are concentrated in the leisure and tourism fields. Teikoku Data Bank...estimates that more than [70%] are carrying excessive levels of debt; of the 30 theme parks it studied, 16 were technically insolvent.
    Why is the country littered with overleveraged municipal theme parks? Because building them was a popular answer to a 1980's problem: criticism at home and abroad that the Japanese as a group were doing too much working and saving and not enough relaxing and having fun. Pressure to step up leisure spending, coupled with the success of Tokyo Disneyland, touched off a boom in park building.... Doomed from the start, these theme parks have begun to collapse under the weight of their debts. The troubled ones include Canadian World, Asia Park..., and one...puzzingly named Navel Land....
    Since 1988, 26 third-sector corporations have failed, but none has owed as much as Phoenix Resort.... [Shades of the other huge bankruptcies Japan has had lately. Japan is in a classic crisis of overconcentrated income and wealth. Money is so concentrated, it has suctioned the spending power and markets away from its own massive investments. Only cutting the workweek until the luffing sails are trimmed to a wartime level of labor shortage will centrifuge the income and wealth to levels where spending and demand will rise to meet output and productivity, mega-enhanced as it is by the extreme levels of automation and robotization in the Japanese economy. You simply cannot keep introducing worksaving technology and freezing the workweek without inducing the kind of indefinite depression that Japan is in and that we are going into. The only other solution is exterminating your labor surplus with war or plague, so that market forces raise wages and rebuild demand to match supply. That's been our usual recourse as an "intelligent" species. Maybe it's time we tried something "stupid" and CUT THE WORKWEEK. The "stupid" French are leading the way with a "radical" 35-hour national statutory workweek. Are we really so wedded to workoholic hell that we cannot accept the heaven of free time that our waves of technology are pushing upon us? Do we only know how to talk about freedom, without really being able to handle the most basic type, free time?]

For earlier bankruptcy stories, click on the desired date -

  • Jan-Feb/2001.
  • Dec/2000.
  • Oct-Nov/00.
  • Jul-Sep/00.
  • Jan-Jun/2000.
  • Aug-Dec/1999.
  • Prior to July 31/99.

    For more details, see our laypersons' guide Timesizing, Not Downsizing, which is available online from *Amazon.com and at bookstores in Harvard and Porter Squares, Cambridge, Mass.

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