U.S. business bankruptcies rise 40 percent in May

http://www.reuters.com/article/GCA-Economy/idUSTRE5516FX20090602

Compared to the U.S. business bankruptcy from May of last year, this year's may filings rose 40%. According to the Automated Access to Court Electronic Records (AACER), last year the numbers were 5,354 and now this year's number is 7,514. The numbers have doubled in just 2 years, just last month RH Donnelley Corp (RHDC.PK), auto parts maker Visteon Corp (VSTN.PK) and apparel retailer Anchor Blue Retail Group Inc. went into bankruptcy.And on April Chrysler filed for bankruptcy and then General Motors filed in June 1.p The president of AACER, MIke Bickford said "The average filing amount per day is actually the highest since the bankruptcy law changed in October of 2005," And more businesses are searching protection from creditors.
I chose this article because I think that is important that people who own businesses are informed about what's going on. And I think that is important that they are protected. This is not a topic that you could agree or disagree. The information was presented fairly and I would use this source again because is very detailed.