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Alabama County May File For Bankruptcy

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When local governments act like corporations, what happens? Jefferson County, Alabama, for one, home to Birmingham, is billions of dollars in debt.

Two commissioners in Jefferson County are pressing the county to file for bankruptcy court protection, as the county grapples with about $4 billion in debt related to a controversial series of bond transactions earlier in the decade.
Controversial, you say? I'm sure.

Merrill Lynch

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This is so obvious as to be trite, but it's relevant: Merrill Lynch has been sold to Bank of America as a result of the financial industry crisis. Bank of America acquired Merrill not in a traditional M&A pursuit but as a cut-rate sale of a distressed entity. Merrill Lynch operates America's largest retail brokerage

Timely Demise tracks the retail industry as it changes with our unprecedented economic environment. Published by David Wertheimer. Did I miss something? Drop me a line.

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