Barneys NewYork

barneys

Barneys New York is a chain of luxury department stores headquartered in New York City.  It started as a discount retailer in the 1930s, but morphed into a luxury brand retailer in the 1980s. In the early 1990s Barneys expanded and opened 30 stores outside of its New York base.  Over-burdened with debt, the company filed for Chapter 11 bankruptcy in 1996 and closed stores in several locations across the country and abroad.  The majority interest of the company is now owned by Perry Capital…

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Anna Nicole Smith

anna-nicole-smith

Of the all the celebrity bankruptcies, Anna Nicole Smith’S was perhaps the most interesting.  Smith was a model and actress and the 1993 Playboy Playmate of the Year.  She was a featured model for clothing companies, including Guess Jeans and Lane Bryant.  In 1994 Smith, who was then 26 years old, married an oil tycoon who was 89 at the time.  Many speculated that she married him for his money.  Upon her husband’s death, Smith and her husband’s son, E. Pierce Marshall, began a fierce…

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Bernhard Goetz

bernhard-goetz

Bernhard Goetz is known as the “subway vigilante”.  In 1984 he was approached by four young African-American men on a subway in Manhattan, and asked for money.  After a previous mugging on the subway, Goetz had purchased a 38?caliber handgun in Florida.  When the four men approached him Goetz took out the gun and fired five shots seriously wounding all four.  The incident sparked a national discussion about crime and firearms.  It is credited with causing politicians to start cleaning up crime in New York…

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Bernard Madoff

bernie-madoff

“Bernie” Madoff is a former stockbroker and financier who perpetrated what is considered to be the largest stock fraud scheme in American history.  Madoff was a former chairman of the NASDAQ stock market and was on the board of governors of the NASD.  In 2009, Madoff was arrested on 11 felony counts of turning his wealth management business into a giant Ponzi scheme.  It is believed that investor losses were nearly $65 billion.  Madoff was sentenced to 150 years in prison for his crimes.  His bankruptcy proceeding was…

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Buffalo Bill’s Wild West Show

buffalo-bill

William Frederick “Buffalo Bill” Cody was a western personality and showman in the 1800s and early 1900s.  When he was young, Cody was hired by the U.S. Military to provide buffalo meat, which is where he acquired his name.  He was a soldier, a scout, and one of the most colorful figures in the American old west.  He started a world-famous show called “Buffalo Bill’s Wild West” which showcased the characters and lifestyle of the American west.  The shows toured throughout Europe and the Eastern…

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Buffalo Bill’s Wild West Show

james-folger

William Frederick “Buffalo Bill” Cody was a western personality and showman in the 1800s and early 1900s.  When he was young, Cody was hired by the U.S. Military to provide buffalo meat, which is where he acquired his name.  He was a soldier, a scout, and one of the most colorful figures in the American old west.  He started a world-famous show called “Buffalo Bill’s Wild West” which showcased the characters and lifestyle of the American west.  The shows toured throughout Europe and the Eastern…

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M.C. Hammer

m-c-hammer

M.C. Hammer is an American rapper and entrepreneur who enjoyed great commercial success and popularity in the late 1980s and early 1990s.  He is known for his flamboyant dance movements and clothing and his upbeat style of rap.  In the mid-1990s, gangsta rap became popular and his upbeat and poppy style of rap went out of style.  His music sales plummeted and because of his lavish lifestyle he went into $13 million of debt.  He eventually filed for bankruptcy.  Hammer later became an ordained minister. …

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Miguel De Cervantes

cervantes

Cervantes was a Spanish novelist and playwright who, in 1605, published what some consider to be the best work of fiction ever written, Don Quixote. It is a classic of literature and considered to be the first modern novel published in  Europe. Cervantes served in the Spanish navy and was badly wounded in the Battle of Lepanto where he was shot twice in the chest and once in the arm which caused him to lose the use of his left arm. He spent six months…

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San Bernadino, California

san-bernadino

The city of San Bernadino, California lies about 60 miles east of Los Angeles in the San Bernadino valley. Like other California cities, San Bernadino was squeezed financially during the post-2008 recession by unemployment, declining property values and rising pension costs, on top of some significant accounting errors and years of deficit spending. It projected a $46 million budget shortfall for 2012. Concerned that creditors may take action which would inhibit the city’s ability to deliver services to its 200,000 residents, San Bernadino filed for…

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