Headline only at this time…
City of Harrisburg, PA officially announces it will miss a $3.3 Million payment on General Obligation (GO) debt.
- The payment is due Sept 15, notes the city is working on a plan to meet its obligations and also points out they have insurance from Ambac (ABK)
A city on the verge of bankruptcy has insurance from a company that has its own budget issues. Oh this should work out well.

The parent company of the Riviera Hotel Casino in Las Vegas has filed for chapter 11 bankruptcy. This turned out to be a bad bet for equity holders who will be wiped out and receive nothing.
of its 2,415 U.S. stores as soon as feasibility possible. In February Movie Gallery filed for Chapter 11 with the Eastern District of Virginia. Under the chapter 11 bankruptcy it was hoped that by reducing the size of the company, and re-negotiating leases for its store locations it would be able to emerge from bankruptcy at some future date.