In the struggling economic climate, many corporations have sought bankruptcy relief. Numerous financial institutions such as the automobile industry and electronic corporations have become accustomed to seeking such restructuring aid and most recently, even the sports world is no longer immune. In October 2009, the Chicago Cubs organization became yet another victim in this economic downturn as the Tribune Company filed Chapter 11 bankruptcy for the baseball team. Although many companies have sought relief due to monetary struggles, “‘You don’t have to be insolvent to be in bankruptcy [. . .] All you need is a legitimate business reason.’” [1] The Chicago Cubs seek reprieve as a way to sell the organization in a tight credit market to an eager buyer, not willing to take on the debt of the parent corporation to its creditors. Through the sale of the Chicago Cubs, the organization can look forward to new ownership, ward off all creditors to the parent corporation, and possibly one day shed their “lovable loser” status. [2] [More]

I. Introduction

Gucci, Fendi, Prada, Coach; Designers most individuals know, but few can afford. Yet, despite their high prices, countless individuals sport these designer labels on a daily basis. Chances are however, the majority of these ‘designer duds’, including sunglasses, handbags, electronics, and even drugs, are not authentic. Over the past few years, this knockoff fetish has become increasingly popular throughout the world, especially with the recent economic downfall. With a high demand for these items and popular acceptance of this act, few consumers consider the illegality and danger of owning and supporting these unlawful products. [More]