A recent study from the Fraser Institute claims that the notion that medical expenses spikes the U.S. bankruptcy rate is wrong because Canada has a higher bankruptcy rate than the U.S. and Canada has nationalized healthcare. However, over at Creditslip, they debunk this finding by showing that the study looked at only bankruptcy statistics from 2006-07 after the U.S. had enacted strict new bankruptcy filing rules. If ten years of bankruptcy filing data is reviewed, Canada has a lower rate for eight of those years including 2008.
Archive for the ‘Bankruptcy Statistics’ Category
2008 saw almost 1.1 million bankruptcy filings compared to 827,000 in 2007.
That’s the only announced layoff news I found. A couple other headlines:
The story goes on to say that 85% of Facebook’s revenue comes from advertising. This might be the era of Web 2.0 technology but not so much as to Web 2.0 business models.
The story says that despite losing more than $1 billion this year, the top Beazer officers are getting $1.4 million in bonuses. Huh?
The rate of bankruptcies for businesses has accelerated considerably in the last few weeks;
*8 bankruptcies in Sept 2008 vs. 6 in Sept. 2007
*18 bankruptcies in October 2008 vs. 3 in Oct. 2008
*4 filing in the first couple weeks of Nov. vs. 2 in Nov. 2007