American Apparel files for bankruptcy

Troubled teen apparel retailer American Apparel Inc filed for bankruptcy protection on Monday and said it had reached a restructuring support agreement with 95 percent of its secured lenders.

“This restructuring will enable American Apparel to become a stronger, more vibrant company,” Chief Executive Paula Schneider said in a statement.

The company listed assets and liabilities of between $100 million and $500 million in its bankruptcy filing.

The case is in U.S. Bankruptcy Court, District of Delaware, Case No: 15-12055.

(Reporting by Supriya Kurane in Bengaluru; Editing by Gopakumar Warrier)

http://www.msn.com/en-us/money/companies/american-apparel-files-for-bankruptcy/ar-AAf7cVf?ocid=ansmsnmoney11


No Great Places to Shelter From This Market Turmoil

Bonds are still doing their job this year as investors’ best friends during a downturn: They’re holding up better than stocks, cushioning the blow for balanced investors. High-quality, investment-grade U.S. bonds have returned 0.9 percent through Wednesday, while the Standard & Poor’s 500 index has lost 7.4 percent on worries about the strength of the global economy. The problem is that bonds are not doing as good a job as in past downturns, and the outlook for them is dim. Super-low interest rates mean bonds don’t pay investors much for the bonds they hold or are buying now. And those bonds may fall in price in the coming months and years if interest rates increase as the Federal Reserve, as expected, continues to move short-term rates higher.

http://www.msn.com/en-us/money/markets/no-great-places-to-shelter-from-this-market-turmoil/ar-BBocyJU?ocid=BDT3DHP


The Middle Class Struggle is Real and its Getting Harder

Americans view themselves as being in the middle class, 80% say it is harder being in the middle class today than it was just 25 years ago. “The American middle class is not weakened or weakening—it is weak,” said Patrick Inglis, an assistant professor of sociology at Grinnell College. “Even the idea of it is weak. The middle class no longer can rely on the kind of job security that was available to earlier generations. Although over 90% of Americans identify as middle class, their income positions vary widely, from poverty level to wealthy.”

http://www.msn.com/en-us/money/markets/the-middle-class-struggle-is-real-and-its-getting-harder/ar-BBocoSM?ocid=BDT3DHP


Retail Revenue Drops Along with Gas Prices and Auto Sales

http://www.msn.com/en-us/money/markets/retail-revenue-drops-along-with-gas-prices-and-auto-sales/ar-BBof1fv?ocid=BDT3DHP

Retail sales dipped last month on low gasoline prices and a slowdown in auto sales, and a key measure was 
flat despite strong job growth.

New Year Better Credit Resolution

Time to make some New Year’s resolutions! But did you know: some of the things you aspire to do in January can also help boost your credit score. Bonus! http://www.msn.com/en-us/money/everydaymoney/new-year-better-credit/vi-BBnex1e?ocid=BDT3DHP


What To Do When a Debt Collector Calls

http://www.msn.com/en-us/money/everydaymoney/what-to-do-when-a-debt-collector-calls/vi-AAfYMai?ocid=BDT3DHP

A call from a debt collector doesnt have to be an intense one. If you know your rights it might help to ease your nerves. If you want to see if a collection bill is lingering on your credit reports, you can get your free annual credit reports once a year at AnnualCreditReport.com.