Chapter 11 Bankruptcy

San Francisco’s Biggest Taxi Biz Goes Bankrupt

San Francisco’s largest taxi company, Yellow Cab Cooperative Inc., filed for chapter 11 bankruptcy protection Friday, adding it to a growing list of traditional taxi companies that have been feeling the burn from ride-sharing startups Uber and Lyft.

Gavin Newsom taxi (Justin Sullivan / Getty)

Bloomberg: Colt ‘New York Financiers Borrowed Too Much,’ Spent Too Much

Colt Defense LLC is filing for Chapter 11 bankruptcy protection in a situation where the future could bring a Colt that looks little like its iconic predecessor—if any part of Colt remains at all. Bloomberg Business (BB) is reporting that the American legend’s current problems are the result of “New York Financiers” who “borrowed too much” and took too much as well.

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