A brand-new study claims that 16 percent of NFL players will be in financial difficulties (bankrupt) within 12 years of retirement. The findings are considerably different from a 2009 research study that put the number at 78 percent merely two years after retired life."Players with median-length stints in the league can earn as much as $3.2 million in a few years. If they are progressive and being smart with their earnings, they should save a large fraction of their revenue to provide for when their time in the league is done with," Kyle Carlson, Joshua Kim, Annamaria Lusardi and Colin F. Camerer reported in a study paper released this month by the National Bureau of Economic Research.But the experts involved in the study, who evaluated information on 2,000 players composed between 1996-2003 along with earnings information (offered for some 900 players) and also insolvency court records, located that 15.7 percent apply for bankruptcy within 12 years…
NJ Based A&P Grocery Chain Files for Bankrutpcy
By Tom Hals, Supriya Kurane and Yashaswini Swamynathan Storied supermarket chain Great Atlantic & Pacific Tea Co., better known as A&P, has filed for bankruptcy protection for the second time in five years and put hundreds of its stores up for sale, bringing to an end the 156-year-old company. A&P, which also owns Best Cellars, Pathmark and Superfresh stores, has been squeezed by discounters such as Walmart Stores (WMT) and up-market grocery chains such as Whole Foods Market (WFM). The company operates in six Northeastern U.S. states.
A&P agreed to sell about 120 of its 296 stores for about $600 million to Acme Markets, owner of Safeway and Albertsons grocery stores, Stop & Shop Supermarket Co. and Key Food Stores Co-operative. However, the proposed buyers weren't willing to take on A&P's collective bargaining agreements or pension obligations, according to court documents. About 93 percent of A&P's 28,500 workers are unionized,…