the news of the world
#21
that's if it doesn't begin to unravel while he's alive, the possibility of such a thing happening isn't such an implausible a scenario.
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#22
i just copied and pasted the whole thing. and yes most of them are banks. if murdochs company is thrown out of B sky B it will never be the same again. and yes his company is unravelling before his eyes. he may be left with a large part of enterprise in tact but it will be a smaller one that will be boxed in by legislation. his print empire is looking more doubtful by the day. it could be is tv stations may also be forced to close down.

Quote:Even in the business world, what goes up sometimes comes down, and if the company is big, the sound of the fall is louder and clearer. Chapter 11 bankruptcies in the United States have been many. Chapter 11 allows a company to reorganize by allowing the debtor to keep a part or all of their property, as well as allows the company to pay off creditors with future earnings.

Washington Mutual – September 26, 2008

The present financial crisis has hit the US harder than Hurricane Katrina, and WaMu bankruptcy only reiterates this. US reeled under the news of the biggest bank failure in its history, as federal regulators seized the largest American savings and loan institution, Washington Mutual (WaMu), which came to symbolize the excesses of the mortgage boom. Regulators brokered an emergency sale of the assets to JPMorgan Chase for $1.9 bn. As expected, global markets plunged. WaMu’s assets were $307 bn and it was also the sixth largest US bank, behind Bank of America. With this acquisition, JPMorgan will now have about $900 bn in deposits.

Lehman Brothers Holdings Inc. – September 15, 2008

A press release on September 15, 2008 by Lehman Brothers Holdings Inc. (LBHI), the 158-year-old U.S. investment bank, altered the American financial landscape. The company announced its intent to file for bankruptcy. This is the largest bankruptcy in the history of the United States with $638 billion in assets listed and the largest failure of an investment bank. The bank has been undermined by bad debts and shares tumbled 94% this year, before it was delisted on September 17, 2008. The deal for Barclays Plc to acquire the main business of Lehman has been approved. Barclays would also absorb $47.4 billion in securities and $45.5 billion in trading liabilities.

Refco Inc. – October 17, 2005

Refco Inc. filing was then one of the major bankruptcies in the United States. New York-based Refco was a diversified financial services organization that was primarily a commodities and futures broker, with operations in 14 countries. Founded in 1969, this firm was the largest broker on the Chicago Mercantile Exchange, with more than $4 billion in customer accounts. The firm’s collapse came about ten weeks after it sold shares for the first time to the public. The company was under investigation for hiding a $430 million debt and the Chief Executive Officer and Chairman; Phillip Bennett pleaded guilty of fraud and sentenced to 16 years.

Delta Airlines Inc. – September 14, 2005

This United States airline is based in Atlanta, Georgia and operates extensive international and domestic flights. The company has been facing financial difficulties for a long time and ever since 2004, tried to stave off bankruptcy by restructuring the company with job cuts and expansion plans. However, in September 2005, it filed for bankruptcy for the first time in its 76-year history. The company cited high jet fuel prices and high labor costs as the two main factors. Delta was in $20.5 billion debt at the time of filing. On April 30, 2007, the airlines emerged from bankruptcy protection as an independent carrier.

Conseco Inc. – December 18, 2002

This is an epic case of a stock-slide leading to bankruptcy and then an amazing recovery. Conseco Inc., an insurance, investment and lending company in Carmel, files for bankruptcy. But it did so after reaching a pact with major creditors to restructure its debt. With the bankruptcy Judge approving a plan cutting the company’s debt from $7 billion to $1.4 billion, the company emerged from being the third-largest bankruptcy in U.S. history and paved the path to financial recovery. Conseco Inc. was once a high-flying company that rose to Fortune 500 status through several insurance acquisitions. Too many buyouts sent the company into a severe tailspin.

UAL Corp. – December 9, 2002

UAL Corporation is an airline holding company based in Illinois. It was incorporated as a Delaware corporation. To keep up with the deregulated airline market place, the company tried diversifying its businesses in 1982, in order to improve its financial situation. In spite of its efforts, like other airlines, it struggled with rising fuel prices and shaky finance, and filed for bankruptcy. However, it emerged from bankruptcy in 2006.

WorldCom Inc. – July 21, 2002

WorldCom bankruptcy came about a month after the company revealed that it had wrongly accounted almost $4 billion in expenses. It was the largest US-based telecommunications company with more than 20 million customers and 80,000 employees. At that time, WorldCom was one of the world’s most valuable companies, valued over $100 billion, and the bankruptcy was considered the largest in United States history. WorldCom also came to be famous as one of the biggest instances of a corporate feeding its greed through accounting and financial manipulations.

Global Crossing Ltd. – January 28, 2002

The result of this bankruptcy was said to be the loss of 9000 jobs. Global Crossing is an American telecommunications company based in Bermuda, providing computer networking services throughout the world. In its filing, the company listed its total assets of $22.4 billion and debts amounting to $12.4 billion. It has since recovered from bankruptcy and succeeded in turning around its performance.

Enron Corp. – February 12, 2001

Enron Corp. bankruptcy was the biggest corporate bankruptcy in U.S. history, and left investors burned and employees with lost retirement savings. It was an energy company in the United States, formed in 1985, in Houston, Texas. It grew to be the nation’s seventh-largest company in terms of revenue by buying electricity from generators and selling it to customers. Wall Street also called it the technological innovator. The reason for its downfall is said to be the complex partnerships to keep about $500 million in debt off of the books in order to mask its financial problems, to continue to get credit and cash for running its trading business. Once the loss of $638 million was disclosed, the Securities and Exchange Commission opened an investigation. Enron then filed for protection from creditors.

Pacific Gas & Electric Co. – April 6, 2001

This company, with its headquarters in San Francisco, was founded in 1905 and supplies natural gas and electricity to most areas of Northern California. This company did well initially and had gas power, several hydroelectric and steam plants. Under the electricity market deregulation, the company sold off its natural gas power plants and retained the hydroelectric plants. But with the selling of the gas power plants, the generating capacity went down and it had to buy power from other energy generators. The company had to buy at fluctuating prices and sell at fixed prices, which led to losses and eventually bankruptcy. In 2004, the company emerged from bankruptcy and established itself extremely well and was named one of the most profitable companies for 2005 on the Fortune 500 list.

Bankruptcy cases are always filed in the United States Bankruptcy Court and are governed by federal law. State laws are also applied when it comes to property rights. There have been several other notable bankruptcies in American history, such as Texaco, Inc. and Financial Corp. of America. While some companies survived a bankruptcy and came out strong, others faded into oblivion.
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#23
believe it or not his news corp is registered in the usa. if people in his organisation are found guilt of bribery he could lose his broadcasting license in the states, he could also lose the right to print newspapers too; contrary to what you believe this is fact. it isn't just about hacking it's about corruption. australia have also jumped on the hate murdoch bandwagon and are calling for new legislation also. i think it's a safe bet his empire won't grow as he wished and could possibly shrink.

as for those companies. some of them thought they were untouchable as well Wink
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#24
the simple fact is news corp is usa registered and as such is liable to lose any franchise or media licences should it be that some having silly little english newspapers be found guilty of corruption. the quote below is done in it's entirety
note the part that's highlighted, and the the part which is underlined; the same story is one that's on the news at regular intervals. murcodoch is not a happy camper and no doubt he'll be an unhappy camper for some time to come Wink

Quote:Murdoch Scandal Jumps the Pond

The media scandal that's snared Rupert Murdoch and other News Corporation executives in Great Britain has crossed the Atlantic, and could cause more homegrown trouble for the U.S.-based media company.

In the past 48 hours, Democratic Sens. Jay Rockefeller, Frank Lautenberg, Barbara Boxer and Robert Menendez have called for an investigation of News Corp., saying that the behavior of Murdoch's executives and staff in England raises serious questions about the legality of the conduct of the company under U.S. law.

And the calls haven’t been exclusively partisan. On Wednesday, Republican Rep. Peter King said the allegations of News Corp phone hacking were “disgraceful” and warranted an FBI investigation.

Already a coalition of groups that includes Free Press, Public Campaign, ThinkProgress, CREDO Action and Media Matters for America has collected signatures from nearly 100,000 Americans demanding an investigation.

It's clear from reports in the media that more allegations are going to surface, and that they'll not be limited to crimes committed in the United Kingdom.

Reporters at the Murdoch-owned paper News of the World allegedly hacked the phone messages of more than 4,000 people, including the voicemail of a 13-year-old murder victim Milly Dowler, which set off a furious public backlash in Britain. But News of the World journalists were based in the United States during the time the paper allegedly hacked into people's phone records.

We already know that some reportedly tried to pay a New York City police officer to hack into the phone messages of the American families and victims of the September 11 terrorist attacks.

We also know that News Corp., as an American company, is accountable to the Foreign Corrupt Practices Act (FCPA), which states that U.S. companies can be prosecuted for crimes committed abroad. (Part of the investigation unfolding in the UK involves $160,000 in bribes allegedly paid to police by Murdoch executives to stifle an investigation of the phone hacking).

On Tuesday, former New York State Governor and Attorney General Eliot Spitzer wrote that the Justice Department has been very actively prosecuting FCPA violations in recent years. “The News Corp. case presents a pretty simple test for Attorney General Eric Holder,” Spitzer wrote. "If the department fails to open an immediate investigation into News Corp.'s violations of the FCPA, there will have been a major breach of enforcement at Justice."

Murdoch has amassed a worldwide media empire, which in America includes Fox News Channel, The Wall Street Journal and The New York Post, and hundreds of local broadcast stations and cable channels.

For too long, Murdoch has leveraged his enormous media power to get what he wants from leaders in Washington and London, and to insulate himself and his company from official scrutiny.

This is exactly the problem that media reformers have been warning about for years. When one company amasses too much control over a nation’s public discourse, democracy suffers.

It seems clear now that Rupert Murdoch and his News Corp. colleagues believed that their tremendous media power placed them above the law.

But fortunes are turning, and Rupert Murdoch must now answer for all that has happened under his watch. If he or his executives broke the law, they need to be held accountable. in the United States.

to get tv and newspaper licenses you have to show you don't indulge in bribery. a guilty verdict of an executive he employs will see his media licenses revoked Wink
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#25
Rebecca brooks has resigned....so they say, funny that shortly after resigning she was arrested on corruption charges, 9 others have also been arrested since the last two weeks, two top execs have resigned on the American side of news corps are and so has the to met police officer. the opposition is talking about disbanding news corps business holding in the UK which probably includes making Murdoch person non gratis as afar as b sky b goes, the Australian prime minister is calling for media checks which will probably include how much of it one company can own, and the USA, if the corruption charges are proven may also take news media to court for the same thing and revoke their media licenses there.

of course, there's still a chance Murdoch's son may be implicated and arrested on corruption charges as well. if that happens his stock will spiral and could possibly for his empire into liquidation.
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#26
Couldn't happen to a nicer bloke Big Grin
It could be worse
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#27
Another copper resigned to-night. I do not appreciate the erosion of the police, and I hold Murdoch Inc responsible for its general enfeeblement. Will be fascinated to see the performances of les Murdochs (for the whole hour allocated) and la Brooks.
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#28
Performances is right.

Journalists are bad enough, but combine journalists and entrepreneurs and it's a recipe for corruption and untruth on a grand scale.
It could be worse
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#29
abu nuwas; i'm also looking forward to what they say.
they also found a dead ex news of the world editor as well...

while the mudochs are partially responsible, some of the blame has to lay with the met police themselves. if any one knows it's wrong to take bribes and corrupt to pander to the media, it's them. i also think cameron should take a leaf out of their book and do the same thing.

it looks like the media will lose the privilege of self regulation and rightly so, in some parts of the western world. they are the first to shout down any organisation such as the police who sometimes self regulate themselves.
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#30
I think we all knew that, whether or not Murdoch might be to our taste, such a powerful organisation, ought never to own so much. From that power flows the churlish attitudes of successive governments, and also the weakening of understanding about 'hospitality'.

I witnessed this at work, for the Lord Chancellor's Dept. We used to use a firm of brokers, and a firm of solicitors, if none other was involved. These firms would hold an annual bash, and my colleagues excitedly went off and enjoyed themselves. I never did, reasoning that these people did not spend their money for no reason. Perhaps I was a bit of a spoil-sport: in one case, a client whose pension had to be redirected to me, was also entitled to 200 cigarettes a month., Embassy, as she had worked for a tobacco company. You could not get the company to give money in lieu, and of course you could not sell them; nor did the Nursing Home where she was want them. So I took it upon myself to buy them, as I smoked then, and added cash to her account. All very stuffy; but I noticed that if you did not draw the line very tightly, soon people had no idea what a line was, and the actions of these police do not surprise me---it is not dishonesty once you have forgotten the idea that you don't get anything at all, save your salary. It is v simple.
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#31
Looks like there's a chance for James Murdoch to be implicated.

http://www.rawstory.com/rs/2011/09/07/ja...e-hacking/

Tom Crone, former legal manager of the News of the World, and Colin Myler, former News of the World editor, both claim that in a 2008 meeting discussing a lawsuit against the paper over phone hacking, Crone specifically told James Murdoch about an email entitled "for Neville", containing hacked information about Professional Footballers' Association chief executive Gordon Taylor, and widely thought to implicate the paper's chief reporter Neville Thurlbeck in malpractice.

The "for Neville" email discussed in the 15-minute meeting demonstrated how phonehacking was a widespread practice in the company, and that it went beyond royal editor Clive Goodman (who was jailed in 2007 for illegally accessing phone voicemails). Though both Crone and Myler have no written and record and can't completely recall the discussion, both are sure the email was discussed because that email evidence was the basis for the NOTW's decision to settle in the case, and therefore the email had to have been explained to James Murdoch for him to approve the settlement.
PS. If you can, try your hand at giving some of the others a bit of feedback. If you already have, thanks, can you do some more?
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