Monarch Airlines still ahead of Ryanair in customer satisfaction league tables

Monarch Airlines still ahead of Ryanair in customer satisfaction league tables

  Monarch Airlines is still marginally ahead of fierce rival Ryanair in the customer satisfaction league tables despite going into administration and leaving 110,000 passengers stranded overseas.   Efforts are continuing to bring back holidaymakers after the carrier went bust having racked up £60million in losses this year, but the majority of Monarch customers that…

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Collapse of Lehman brothers causes the largest bankruptcy in US history

Collapse of Lehman brothers causes the largest bankruptcy in US history

Lehman Brothers filed for Chapter 11 bankruptcy protection on September 15, 2008 and the bank’s collapse still remains the greatest bankruptcy in US history with a loss of more than $600 billion in assets.   The collapse occurred because the bank had allowed itself to become so deeply involved in the sub-prime mortgage market that…

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Penn Central transportation company merger ends in financial disaster

Penn Central transportation company merger ends in financial disaster

The Penn Central Transportation Company, commonly known as Penn Central, was headquartered in Philadelphia, Pennsylvania and operated from 1968 until 1976. It was created by the 1968 merger of the Pennsylvania and New York Central railroad companies. By 1970 however, the company had filed for what was at the time, the largest corporate bankruptcy in…

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Collapse of Enron causes the largest corporate bankruptcy in US history

Collapse of Enron causes the largest corporate bankruptcy in US history

Enron Corp. was a US energy company that achieved stellar success which ended in a dramatic collapse. It was one of America’s largest corporations at the time and Enron’s implosion destroyed the lives of thousands of its employees whilst sending a catastrophic ripple effect through Wall Street. At the company’s peak, its shares were priced…

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Blockbuster passes on the chance to buy Netflix and ends up going bankrupt

Blockbuster passes on the chance to buy Netflix and ends up going bankrupt

  Blockbuster was a retailer of home movie and video game rental services. At its peak back in 2004, the company consisted of approximately 60,000 employees and 9,000 stores that generated revenues of $5.9 billion.   Back in the year 2000 Reed Hastings, the founder of Netflix, approached former Blockbuster CEO John Antioco and asked…

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