The Growing Bankruptcy Brigade

American companies are now failing at the rate of 500 a week

The wild cheering on the floor of the New York Stock Exchange and around the financial district last week did not spread much beyond Wall Street. Across the U.S. there is still deepening gloom about the economy, and no single group is more painfully aware of it than the beleaguered owners of American businesses. This year their ranks are being trimmed by bankruptcy faster than at any time since the Depression. Says Chairman of Eastern Air Lines Frank Borman, whose company has...