A Different Downturn

Bankruptcies are expected in a downturn. However, the depth and breadth of this recession, coupled with a financial crisis that is causing a massive credit contraction, could force more companies than usual into bankruptcy, sale, or restructuring. Plummeting volumes, liquidity concerns, and no signs that recovery is near are forcing companies to rethink how they operate and are likely to reshape what industry will look like in the not too distant future. Chemtura filed for bankruptcy last week, the third major U.S. filing this year, behind LyondellBasell and...

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