U.S. car parts maker Lear Corp files for bankruptcy

NEW YORK (AP) -- Struggling automotive parts supplier Lear Corp. said it has filed for Chapter 11 bankruptcy protection after receiving the support it needed from lenders and bondholders....

Reuters - U.S. auto parts maker Lear Corp , which has been weighed down by heavy debts and a sharp decline in automobile demand, filed for Chapter 11 bankruptcy protection on Tuesday.

RDA Holding Co., publisher of the 91-year-old Reader’s Digest magazine, filed for bankruptcy to cut US$465-million in debt and focus on North American operations as consumers shift from print to electronic media. The company is the latest in a line of iconic businesses to have recently sought court protection from creditors, after Hostess Brands Inc., maker of Twinkies and Wonder Bread, and Eastman Kodak Co., inventor of Kodachrome and the Instamatic camera.

(Reuters) - U.S.

WILMINGTON, Delaware – If the city of Detroit were a company, it would be a prime candidate to file for bankruptcy, using court protection to cut debt, streamline operations and trim retiree benefits. But what may be good for General Motors may not be good for the home of the U.S. auto industry. A state-appointed panel of experts on Tuesday declared Detroit in financial crisis, and Michigan Governor Rick Snyder is widely expected to soon appoint an emergency financial manager to take over many of the city’s functions.

NEW YORK (Reuters) - The owner of mag