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It could be the end of an era for budget-friendly travel — at least for now. On Monday, Nov. 18th, low-fair flight company Spirit Airlines confirmed that they’ve filed for bankruptcy protection after making efforts to cut costs all around. Some of their recent steps have included selling 23 Airbus jets and delaying future aircraft deliveries. Sadly, Spirit has also had to furlough hundreds of pilots with plans to cut additional staff in January. In their filing, they confirmed 13,000 full-time and part-time employees, plus 8,000 independent contractors and temporary workers. Things might look dire now, but as CNN notes, American Airlines , United and Delta have all gone bankrupt within the last 25 years, only to bounce back stronger on the other end of negotiations and hard work. What We Know About Spirit Airlines’ Bankruptcy So Far Photo Credit: Forsaken Films / Unsplash CNN cites, “ mounting losses, unaffordable debt, increased competition for bargain-seeking airline passengers...
It’s been almost 12 years since the tragic Sandy Hook Elementary School shooting took the lives of 26 people (20 of them children) in Newton, Connecticut. While Alex Jones, a well-known right-wing commentator and owner of Infowars, has since taken back his comments about the incident being a hoax , he still owes the families of the victims over $1 billion in personal damages after they took legal action against him for emotional distress and defamation. Despite the controversy surrounding his name , “ Jones and other right-wing commentators once on the fringe have catapulted in popularity as many people have moved away from traditional news sources,” the Associated Press notes. Thanks to those who still support him, the 50-year-old has made millions from his radio and internet shows, plus the sale of nutritional supplements, survival gear, clothing and other merchandise, keeping him afloat in tense times. Two years after filing for bankruptcy, Jones stands to lose the company he’s...
The year 1997 was a good one for Black culture. The movie “B.A.P.S.” was in the theaters, and The Notorious B.I.G.’s “Hypnotize” was at the top of the charts. But it was a somewhat historic June night in Las Vegas, NV, that most people remember most. Mike Tyson and Evander Holyfield were going head to head in a boxing match, and something unbelievable happened out of nowhere. Tyson bit off a piece of Holyfield’s ear. That bizarre moment changed boxing forever and was a pinnacle moment in Tyson’s public life. Tyson is a New York native who rose to prominence in the mid-’80s for his boxing prowess. At one point, he boasted an undefeated record, dominating the industry and earning the heavyweight boxing title. According to ESPN, the 56-year-old would finish his 58-fight career with 50 victories, winning 44 by knockout. In 2011, he was inducted into the International Boxing Hall of Fame. And while Tyson’s talent in the boxing ring was commendable, his out-of-the-ring antics started to...
The world loves a good rags-to-riches story, but what about when the story goes in the opposite direction? This fate was once the backstory for the popular girl group TLC. TLC was named for the group members Tionne “T-Boz” Watkins , Lisa “Left Eye” Lopes, and Rozonda “Chilli” Thomas. The three women officially hit the scene after the release of their debut album in 1992. However, the success of their sophomore album “CrazySexyCool” in 1994 would really launch them into superstardom. That album had chart-topping hits such as “Creep,” “Red Light Special,” and the iconic and crossover hit “Waterfalls.” The women would go on to earn two Grammys in 1995, becoming the first girl group at the time to reach diamond status in album sales. And while some may not have imagined the success of that album, the group members understood they were creating something unique. “We went in letting producers know that this was the name — and that’s how the album should sound,” Chilli said in a BBC News...
George Foreman is an Olympic gold medalist, heavyweight boxing champion , and world renown athlete, who has become synonymous with unrelenting physical power in the ring. Since the mid 1990s, Foreman has also become synonymous with the deliciously simple pleasures of indoor grilling . Despite encountering a number of financial problems in his life, leading the boxer to file for bankruptcy in 1986, George Foreman’s net worth is comfortably sitting at an estimated value of over $300 million today, per celebrity net worth . Since retiring from life in the ring, Foreman has provided ringside commentary and analysis for boxing coverage on HBO, gone on to be ordained as a Christian minister, lent his credence to a number of brand and endorsement deals, and become inducted into the World Boxing Hall of Fame. In order to understand how Foreman has amassed the impressive multi-million dollar nest egg he has today, we’ll have to examine his rise, his fall, and his return to form, resulting in...
An old saying suggests, “life comes at you fast.” And that’s a sentiment that proved to be true for former NFL player Vince Young. Young was a college quarterback standout for the University of Texas Longhorns. He would lead the team to a national championship win over the University of Southern California Trojans in the Rose Bowl in 2006. His collegiate performance on the field led to his drafting as the No. 3 pick to the Tennessee Titans later that year. According to Spotrac, Young’s initial contract with the Titans earned him $25 million. Throughout his career, he would go on to be signed by the Philadelphia Eagles, Buffalo Bills, and Green Bay Packers. During his overall time on the field, he averaged 8,964 passing yards and threw 46 touchdowns. However, it was his time with the Titans that launched him into NFL superstardom. According to Bleacher Report, Young became the first-ever rookie quarterback to rush for over 500 yards, leading the Titans to a record of an 8-8 finish...
There’s an update on the ongoing story surrounding the Black News Channel following AfroTech’s previous report that the media outlet filed for bankruptcy. According to Bloomberg, the Black News Channel has reached out to a federal judge to grant permission for funds from billionaire Jacksonville Jaguars owner Shahid Khan. The request would grant the outlet more time to stay afloat as they hunt for a new buyer.
Young Buck is in a bit of trouble with the United States Bankruptcy Court — and it’s all thanks to some ill-advised social media posts. According to Complex, the rapper born David Darnell Brown has made some Instagram posts that have raised the collective eye of the federal courts. Apparently, he’d been posting about some of his things — such as a motorcycle, a set of gold grills, and even CashApp donations — which he’d previously not disclosed to the courts in his initial bankruptcy filing. Young Buck filed for Chapter 7 bankruptcy in January of 2020 — shortly before the pandemic — to avoid paying a litany of creditors, including the mother of his children, the IRS, and even Curtis “50 Cent” Jackson himself. The Cashville rapper claimed that he initially filed for bankruptcy to get out of his G-Unit obligations. In addition to not honoring his contractual commitment to the label, Young Buck also claimed that he owed 50 Cent more than $250,000 in a personal loan — and he was unable...
From bankruptcy court to racking in the dough, thanks to her lucrative business, Nicole Barham’s side hustle has now become one of the biggest contributors to her success as an entrepreneur. According to TIME, Nicole Barham is the founder of Design Your Wealth, a platform that helps others tap into the resources needed to manage, grow, and maintain wealth. “I started the business after my own experience of not managing my finances properly landed me in bankruptcy court,” said Barham, TIME reports. “I have a background in accounting and spent years taking care of my employer’s finances, so it was particularly heartbreaking that I was in this position.” The bankruptcy experience left Barham inspired to regain control of her own narrative, ultimately leading to the side hustle that is now bringing her big bucks of more than $100,000 per quarter.
In January 2022, AfroTech reported on the curious bankruptcy case of one Trick Daddy. At the time, we reported that the “Nann” rapper — who hit a world of a mess when he got stung by the BeyHive after snarking that its Queen, Beyoncé, couldn’t sing — was in default on his Chapter 13 filing. Court documents obtained by Radar Online reveal that Trick Daddy owes nearly $23,000 to bring his Chapter 13 filing current. He has 45 days to cure the debt, or he will be deemed in default. If he fails to come up with the nearly $23,000 owed to the courts, his bankruptcy will be discharged, and collection efforts can begin anew on his assets. What’s more, the radio host also revealed to the courts that he has more than $800,000 in debts, but less than $400,000 in assets. Because of his precarious financial position, Trick Daddy filed what’s called Chapter 13 bankruptcy, which is when your debits and credits are given to a trustee, who then “balances your budget” in a manner of speaking. Once...
Trick Daddy is in a world of hot water — and this time, it’s with the courts. The rapper and former radio show host — who hit a world of a mess when he got stung by the BeyHive after snarking that its Queen, Beyoncé, couldn’t sing — is in default on his Chapter 13 bankruptcy filing. Court documents obtained by Radar Online reveal that Trick Daddy owes nearly $23,000 to bring his Chapter 13 bankruptcy filing current. He has 45 days to cure the debt, or he will be deemed in default. If he fails to come up with the nearly $23,000 owed to the courts, his bankruptcy will be discharged, and collection efforts can begin anew on his assets. And that’s not all he owes. According to the outlet, he’s delinquent by $300,000 to the IRS. He also owes $60,000 in back child support. What’s more, the “Naan” rapper revealed to the courts that he has more than $800,000 in debts, but less than $400,000 in assets. He’s underwater on his South Florida home — though he owes $435,000 on the home, the...