Paul Burton

Curt Schilling once pitched with a bloody sock, endearing him to New England baseball fans. But his video game firm is in a bloody mess, leaving Rhode Island taxpayers and bondholders exposed.

The U.S. Court of Appeals in Philadelphia has denied the attempt by the Harrisburg City Council to file for bankruptcy on behalf of Pennsylvania’s capital city.

Retired Air Force Major General William Lynch helped rebuild Iraq. But can he repair Harrisburg?

Pennsylvania Gov. Tom Corbett on Friday named retired Air Force Major General William Lynch as receiver for the state's distressed capital city of Harrisburg.

Moody’s Investors Service has improved its outlook on East Providence, R.I., to stable from negative, while affirming its Ba1 general obligation bond rating. The move affects $28.7 million of outstanding parity debt.

The New York City Regional Economic Development Council announced a series of consolidated funding application workshops throughout the city’s five boroughs.

The New Jersey Board of Public Utilities’ $30 million rate increase for New Jersey-American Water Co. is a credit positive for parent American Water Works Co., Moody’s Investors Service said, because it will help improve operating cash flow.

U.S. Justice Department antitrust prosecutors late Friday afternoon scored a clean sweep in the municipal bond bid-rigging trial in New York, as jurors in the fourth day of deliberation, and the 20th day of the trial, convicted Steven Goldberg, Peter Grimm and Dominick Carollo of wire fraud and conspiracy.

The City Council attorney in distressed Harrisburg has asked the Commonwealth Court of Pennsylvania to table all state takeover activities and subpoena former receiver David Unkovic to ask him why he abruptly quit.

The specter of a divided jury loomed late Thursday afternoon in the third day of deliberations in the municipal bond bid-rigging trial in New York.

The second day of jury deliberations in the municipal bond bid-rigging trial in New York produced nothing, as the 12 jurors, showing a bent for the granular that matches prosecution and defense, requested more audiotapes of conversations.

The jury in the municipal bond bid-rigging trial in New York failed to reach a verdict Tuesday in its first day of deliberations.

After three weeks of listening to audio transcripts that ranged from titillating to tedious, jurors heard more taped conversations in Judge Harold Baer's courtroom in the U.S. District Court for the Southern District of New York in Manhattan.

Massachusetts is scheduled to sell $419.3 million of commonwealth transportation fund revenue bonds by competitive bid under its accelerated bridge program.

Massachusetts on Tuesday is scheduled to sell $419.3 million of commonwealth transportation fund revenue bonds by competitive bid under its accelerated bridge program.

The industry needs a shake-up, Jules Kroll said. And he's trying to provide one, founding the Kroll Bond Rating Agency Inc. in 2010 with help from his son, Jeremy.

Harrisburg’s City Council tabled its vote to approve the hiring of chief operations officer Ricardo Mendez-Saldivia, citing its concerns over the receivership plan for Pennsylvania’s distressed capital.

New York’s industrial development agencies supported 4,444 projects and provided nearly $500 million in net tax exemptions in 2010, but projects were down and cumulative job gains decreased by 22,000 from 2009, according to an annual performance report by state Comptroller Thomas DiNapoli.

Pennsylvania declared the city of Altoona its 27th distressed municipality. C. Alan Walker, secretary of the Department of Community and Economic Development Secretary, made the announcement Thursday. He has 30 days to appoint a recovery plan coordinator for the city under the Act 47 program.

New York Mayor Michael Bloomberg on Thursday introduced a $68.7 billion budget for fiscal 2013 that while balanced, leaves the city with budget gaps ranging from $3 billion to $3.7 billion over the following years.