The iconic curse of baseball great Babe Ruth took one last victim after the company responsible for the demolition of the original Yankee Stadium filed for bankruptcy. Demco Inc., the construction company responsible for tearing down Yankee stadium, has been struggling through the economic downturn and finally called it quits in August 2012.
The city of New York built a $1.5 billion dollar stadium nearby. The City paid Demco nearly $20 million dollars to demolish the old stadium and turn it into a park. Since then, the construction company has had difficulty finding sufficient work.
The demolition job was no easy task. Workers ripped out 57,000 seats from the Stadium that housed more than 6,000 games in its 85-year history. Demco then segmented the stadium and took out massive sections of the park, including some concrete slabs weighing 500 tons.
The baseball legend Babe Ruth passed away at the age of 53 in 1948, and left behind an 86-year World Series losing streak to the Boston Red Sox, who finally beat the cursein 2004. Apparently the Great Bambino wasn’t done. Read more
The decision to petition for Chapter 7 Bankruptcy is a daunting and stressful one. I consistently see clients whose stress grows almost daily as their debt increases, as bills keep coming, and as their options seem more limited. To help clients decide whether this worrying decision is best for them, I use three different variables: 1) total debt accumulated; 2) medical needs; and 3) available alternative retirement funds.