Reorganization | featured news

AOL promoted its chief financial officer, Artie Minson, Jr., to the newly created role of chief operating officer as part of a reorganization of the company's operations.

A week after announcing a painful round of job cuts, Yahoo CEO Scott Thompson unveiled a plan Tuesday that will reorganize the company into three main divisions focused on users, advertisers and technology.

Larry Page, who returned as chief executive of Google on Monday, put his stamp on how he will run the Internet giant with a major reorganization of his management team on Thursday.

Tribune Co. CEO Randy Michaels resigned Friday amid tales of raunchy behavior as one of America's biggest media companies looked to shift attention back to its efforts to emerge from bankruptcy protection. Hours later, the company filed its latest reorganization plan in court.

If union members accept the deal, Ford will gain some of the benefits that General Motors and Chrysler needed bankruptcy reorganization to achieve.

Two large Philadelphia daily newspapers hope to emerge from bankruptcy debt-free by paying creditors $37 million in cash plus real estate to settle nearly $400 million in debt.

Philadelphia Newspapers filed its reorganization plan Thursday, six months after filing for Chapter 11 bankruptcy.
The plan gives creditors the iconic downtown building that houses The Philadelphia Inquirer and Philadelphia Daily News.

Lloyds Banking Group said it was reorganizing its group and wholesale operations, which would result in a loss of 2,100 jobs over the losses already announced.

A majority of bondholders agree to swap their debt for a stake in a reorganized GM, which is expected to file for Chapter 11 on Monday.

G.M. said a key group of bondholders agreed not to oppose the reorganization plan in exchange for a stake of 10% in the new G.M., with warrants to buy an additional 15%.

Under the terms of the new plan, Chrysler’s lenders would receive about 22 cents on the dollar, plus a 5 percent equity stake in the reorganized company, a person with knowledge of the matter said.