The American Airlines parent company has stated that they will be eliminating 13,000 jobs as a part of their bankruptcy protection plan.

AMR Corp. has stated that they plan on elminating 20 percent of labor costs and has stated that they will now begin negotating with unions. 

In the month of December, AMR lost nearly $904 million and officials have stated that the restructing process will help them meet challenges, cut spending and become profitable again. The company has also stated that they will be changing their pension plans. 

If yo of the u or a loved one has been considering filing for bankruptcy, you need representation on your side that may be able to help you with the process step by step. Contact the Arizona business bankruptcy lawyers Harmon Law Office by calling 480-829-0494 today. 

The Eastman Kodak Co., the New York-based imaging company, filed for bankruptcy on Jan. 19 listing debt near $6.8 billion.

According to court reports, Kodak named Wal-Mart Stores, Inc., Sony Entertainment, and Pension Benefit Guaranty Corp. as a few of the large creditors. Wal-Mart has a claim against Kodak for nearly $11.4 million  and was named the largest unsecured creditor.

PBGC has stated that they are going to help protect the pension plans that are sponsored by Kodak. These pension plans cover about 63,000 people. 

If you or a loved one are struggling with debt, this is the time to discuss your options with an experienced representative. Contact the Arizona bankruptcy lawyers of the Harmon Law Office today by calling 480-829-0494 today.

The U.S. Airways Group is currently seeking a merger with AMR Corp. in order to increase revenue and help the route system that American Airlines currently has.

AMR currently has the ability  to file for reorganization and the bid from U.S. Airways to combine the airlines may not occur for another year. Some think that the combination of U.S. Airways, the fifth largest airline, with American Airlines, will help close a gap the opened when business travelers began to change their airlines.

This combination will bring the airways up to the same national market share as Delta Airlines, Inc., United Continental Holdings Inc., and Southwest Airlines. The Arizona-based company, U.S. Airways are currently "weighing their options."

If you or a loved one has been considering bankruptcy in order to settle debt, contact the Arizona business bankruptcy lawyers of the Harmon Law Office by calling 480-829-0494 today.

The city of Tuscon celebrated the life of Martin Luther King Jr. on Monday with an annual march and festival. Sunday would have been King's 83rd birthday. 

Residents in the Tuscon area walked the city streets in order to keep King's message alive. A group from the mentoring program at Tucson Unified School District's African American participated in the event for the first time and described their experienced as "amazing."

Others involved have participated in the events for the past 20 years. This is the 26th year that organizers have put on marches and celebrations to honor MLK and have stated that they continue to grow every year.

The Arizona bankruptcy lawyers of the Harmon Law Office  are interested in discussing local events and news in the area. For more information on MLK Day events, visit the Fox 11 Arizona web site today.

Although bankruptcy cases and foreclosures declined in 2011, these issues are still around and some think that the declining the numbers are deceiving.

Last year, there was a 34 percent decline in bankruptcy fillings, but officials have stated this is most likely due to a documentation errors that caused delays in the process. On average in 2011, a foreclosure took nearly 348 days to complete. In 2010, the average was 305. 

There was also a 19 percent decrease in business bankruptcy filings as well as a 12 percent decrease in personal bankruptcy cases. Officials with the American Bankruptcy Institute have stated that this is because credit access is still very difficult and people are continuing to leverage their debt. The total number of bankruptcies fell from 1.56 million to 1.38 million. The state of Arizona has the second highest foreclosure rate in the nation with 4.1 percent.

If you or a loved one has been struggling with debt and need to consider your financial options, this is the time to speak to an experienced representative. Contact the Arizona bankruptcy lawyers of the Harmon Law Office today by calling 480-829-0494 today. 

Saturday night marked the beggining of the 62nd annual Winterhaven Festival of Lights. This is the longest running festival of its kind in the nation and a large crowd came out to celebrate the start of the event.

The festival is in Tucson, but thousands of residents from Southern Arizona will visit the event throughout its run for the holiday season. The festival raises money for the Community Food Bank and is one of the most important fundraisers for it. As visitors walk through the area, they are encouraged to donate food items into bins that are placed throughout the trail.

The streets are filled with bright lights and Christmas carols. There is also hot chocolate and Kettle corn for visitors to snack on. On some nights of the fesitval, it is a walking event and on others, visitors can drive through the trail. The event runs from 6 p.m. to 10 p.m. every night until Dec. 26.

The Arizona bankruptcy lawyers of the Harmon Law Office, LLC are happy to spread the word about holiday events for the family to enjoy and celebrate. For more information, visit the KOLD website today.