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June 2013 Archives

Botched Chapter 7 filing puts CNET founder in limbo

In 2008, the founder of CNET sold the company to CBS for roughly $1.8 billion. The sale saw him pocket about $200 million from the deal; but just five years later, and CNET's founder has fallen on hard financial times. The 47-year-old claims that he has $50 million in assets, only to be outdone by $100 million in debts. He filed for Chapter 7 bankruptcy in May and had a deadline of June 7 to file an important document to bankruptcy court. The document must include detailed information on assets, debts and the general "state of affairs" involving the insolvent individual.

Student debt reaches all-time high, worrying financial analysts

As many New Hampshire residents are aware, the cost of college has swollen to ridiculous levels. Tuition rates are always rising; books, supplies and other costs put students in tough financial spots; and after college is all said and done, these graduates enter a harsh reality where there simply are not enough jobs. In fact, according to the U.S. Education Department, roughly 30 percent of people aged 20-24 are either unemployed or not in school.

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