Unintended Consequences

Extended Stay hotels, which operates 680 properties that cater to business people working away from home has filed chapter 11.  Wachovia, Bank of America and Bear Sterns are each on the hook for about $1 billion each.  Extended Stay employs about 10,000 people.

Tags: Bank of America, bankruptcy, Business Travel, Wachovia

This entry was posted on Monday, June 15th, 2009 at 3:06 pm and is filed under Bankruptcy Watch, Financial Collapse. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.