Business & Economy
Associated Press/Photo by Pablo Martinez Monsivais

Small business owners warn extending overtime pay will kill jobs

Business
by Abby Reese
Posted 7/01/15, 10:35 am

President Barack Obama has proposed an overhaul of the nation’s overtime pay rules that could require business owners to pay billions more for overtime.

“We've got to keep making sure hard work is rewarded,” Obama wrote in an op-ed published Monday on The Huffington Post website. “That’s how America should do business. In this country, a hard day's work deserves a fair day's pay.”

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Wikimedia Commons/Royalboil

Judge rejects another Family Christian Stores bankruptcy plan

Business
by Lynde Langdon
Posted 6/22/15, 01:40 pm

A judge said Friday that a Family Christian Stores executive acted inappropriately during a bankruptcy auction and rejected the company’s plan to buy itself out. 

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Flickr/consumerist.com

Family Christian accepts bid for buy-out from existing investors

Business
by Lynde Langdon
Posted 5/28/15, 02:15 pm

The bankrupt Family Christian Stores (FCS) has auctioned its assets to the highest bidder, which is owned by the same company that owns FCS and promises to keep its stores open. In court documents filed Wednesday, the company disclosed that FC Acquisitions agreed to pay about $42 million for the failing bookstore chain. 

FCS came into Chapter 11 bankruptcy with more than $100 million in debt. If approved by a bankruptcy judge, the auction bid would allow the country’s largest Christian bookseller to stay open rather than liquidate its inventory.

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