Matthew's Feed
Aug 4, 2011

Alabama county in key bankruptcy meeting over debt

By Matthew Bigg and Melinda Dickinson

BIRMINGHAM, Ala.. (Reuters) – Alabama’s Jefferson County could decide on Thursday whether to accept an offer from creditors to settle its sewer debt or pursue what would be the largest municipal bankruptcy in U.S. history.

The county began a rare executive session at 1 p.m. (1800 GMT) and it was likely to last up to four hours, County Commission President David Carrington said before commissioners went into a closed session.

Jul 26, 2011

Woman avoids jail after son dies in hit-and-run

MARIETTA, Georgia (Reuters) – A U.S. woman convicted of vehicular homicide after her 4-year-old son was killed in a hit-and-run accident was sentenced Tuesday to 12 months probation rather than a potential jail term.

The case drew national attention because Raquel Nelson faced as much as three years in prison, far more than the six months served by the driver of the van who hit the boy and also injured Nelson and her daughter in April 2010.

Jul 25, 2011

Alabama county faces looming debt crisis deadline

ATLANTA (Reuters) – Alabama’s Jefferson County could decide on Thursday whether to settle its $3.2 billion sewer bond debt or pursue what would be the largest municipal bankruptcy in U.S. history.

The county commission called a special session for Thursday with agenda items including bankruptcy, a settlement and an extension of the 30-day “standstill” period established to pursue talks with creditors, who include JP Morgan Chase. That agreement is set to expire on Friday.

Jul 22, 2011

US judge orders arraignment of Kuwait firm Agility

ATLANTA, July 22 (Reuters) – A U.S. district judge ordered
the arraignment of Agility (AGLT.KW: Quote, Profile, Research, Stock Buzz) in the latest step of the
prosecution of the Kuwaiti logistics company over charges that
it defrauded the U.S. Army in multibillion-dollar contracts.

The order by Judge Thomas Thrash, dated on Wednesday, came
on the heels of a decision by a U.S. appeals court that ended
about 18 months of legal wrangling over whether prosecutors
correctly served the company in its initial indictment in
November 2009.

Jul 22, 2011

Team owners hail compromise as key to approving deal

ATLANTA, July 21 (Reuters) – National Football League (NFL)
owners said on Thursday a desire for fairness and compromise
motivated their decision to approve a new collective bargaining
agreement with players.

The decision opens the way for an end to a lockout that has
left America’s most popular sport in limbo. The next step is a
conference call later on Thursday by player representatives who
must decide their next move.

Jul 20, 2011

US court denies key petition by Kuwait’s Agility

ATLANTA, July 20 (Reuters) – A U.S. appeals court on
Wednesday denied a petition by Agility (AGLT.KW: Quote, Profile, Research, Stock Buzz) in a legal
setback for the Kuwaiti logistics firm that faces prosecution
on charges it defrauded the U.S. Army in multibillion-dollar
contracts.

Agility was the largest supplier to the U.S. Army in the
Middle East during the war in Iraq after the Sept. 11 attacks
with contracts worth around $8.5 billion.

Aug 23, 2010

Compensation czar takes charge of $20 billion BP fund

NEW ORLEANS (Reuters) – A $20 billion compensation fund for economic victims of the BP Gulf oil spill opens for business on Monday amid accusations that the rules established by its administrator are unfair.

Kenneth Feinberg who will run the fund said those who sustained financial loss because of the spill could claim for damages and he promised claimants more generous treatment than they would get if they sued the energy giant for damages.

Aug 17, 2010

Spike Lee film shows New Orleans 5 years after storm

ATLANTA (Reuters) – Five years ago, Hurricane Katrina swept infants out of their mothers’ arms, filled whole neighborhoods with dirty water, flooded schools and hospitals and turned New Orleans into a byword for disaster.

What happened next?

The question is at the heart of Emmy Award-winner Spike Lee’s new film “If God is Willing and Da Creek Don’t Rise”, a two-part, four-hour documentary on New Orleans and the Gulf coast set to haunting music.

Jul 30, 2010

A Mississippi Yankee in BP’s battered court

/CHICAGO (Reuters) – Bob Dudley is not one to wear his disappointment on his sleeve.

Even as a kid, “Bobby” as he was then known “was completely unflappable,” remembers Charles Brent, Dudley’s hometown friend in southern Mississippi in the 1960s.

Jul 29, 2010

Special Report: A Mississippi Yankee in BP’s battered court

/CHICAGO (Reuters) – Bob Dudley is not one to wear his disappointment on his sleeve.

Even as a kid, “Bobby” as he was then known “was completely unflappable,” remembers Charles Brent, Dudley’s hometown friend in southern Mississippi in the 1960s.