Saturday, July 10, 2010

6 major companies to go bankrupt in 2011 - you're not going to believe this list

SHOOT: How quickly fortunes can change. Especially if your brand is BP.
clipped from

24/7 Wall St. has created a new list of brands that may disappear, which includes Readers Digest, Kia Motors, Dollar Thrifty (NYSE: DTG - News), Zale (NYSE: ZLC - News), Blockbuster (BLOKA.PK - News), T-Mobile, BP Plc (NYSE: BP - News), RadioShack (NYSE: RSH - News), Merrill Lynch and Moody's (NYSE: MCO - News).

Reader's Digest was once the most widely read magazine in the world. According to the company, it still may be when its overseas editions are taken into account. Last August, the company took its U.S. operations into Chapter 11 to decrease debt.
T-Mobile, the U.S. wireless provider, is owned by telecom giant Deutsche Telekom (DTEGY.PK - News). It is the No.4 cellular company in an American market that only supports two really successful firms -- AT&T Wireless and Verizon Wireless.
BP: The case against the BP brand is not so much that the company will enter bankruptcy. It is that BP may end up breaking into pieces for its own sake.
Kia Motors Corp.
Merrill Lynch
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