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Shoppers browse at a Sears Canada store in Toronto in October after the company began liquidation sales. Its retirement funds are short $308 million, forcing a 19 per cent cut to employee pensions. (THE CANADIAN PRESS/Nathan Denette)

Sears Canada tarnishes the gold standard of pensions

Sears Canada's bankruptcy should alert employees and regulators alike to rethink defined-benefit pensions.
Empty field north of downtown Detroit, photographed nine months before the city declared bankruptcy in 2013. AP Photo/Carlos Osorio, File

Detroit’s recovery: The glass is half-full at most

Less than four years after Detroit filed for bankruptcy, boosters say a revival is underway in the Motor City. But two scholars say new growth has not spread yet to neighborhoods that need it.
Graham Beal led the Detroit Institute of Arts through the city’s financial crisis. Les Ward

Rescuing Detroit’s art museum: an interview with director Graham Beal

Graham Beal, the Director of the Detroit Institute of Arts, recently announced that he will be retiring after fifteen years at the helm. Two of his achievements particularly stand out. The first is his…
Bills, bills, bills. bills and stethoscope via vichie81/Shutterstock

Why medical debt – and bankruptcy – are growing problems

Burdensomely high medical costs are often blamed for pushing many Americans into bankruptcy. According to the Consumer Financial Protection Bureau some 43 million Americans have unpaid medical debt on…
Many former NFL players face the future with despair: the years after retirement can include an array of physical and financial woes. USA Today Sports/Reuters

Is there life after football for NFL pros?

The cascade of woes that have befallen former NFL players has stunned fans and casual observers. Former NFL stars Junior Seau and Dave Duerson committed suicide. All-pro Warren Sapp went bankrupt after…
Detroit has emerged from bankruptcy, but the process has been sharply criticized, which could impair its success. Reuters

What are the costs of Detroit’s rise from bankruptcy?

Earlier this month, we learned that the biggest municipal bankruptcy in history would also be among the swiftest. The emergency manager for Detroit filed for bankruptcy in the summer of 2013 without a…
Kodak shareholders have reason to celebrate, with the camera manufacturer bouncing out of bankruptcy. Sourced from AAP images

Kodak’s survival not a black and white issue

“Kodachrome, it gives the nice bright colours, it gives the dreams of summer, it makes you think all the world’s a sunny day.” (Paul Simon, Kodachrome, 1973, from ‘There Goes Rhymin Simon.) Eighteen months…

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