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Show rhe Magna TimesWesit ValW NewsKearm, Ihunday, September 13, 2001 7 Personal bankruptcy filing continues to break records Almost 6.5 percent of adults in the U. S. filed for bankruptcy in the 1 period ending June 30. The recent rise in bankmptcy filing is not surprising," said Steve Rhode, president and of Myvesta.org, a nonprofit financial crisis and treatment center. "Combine the weaken Bankruptcy filings from April 1 to June 30, 2001 increased 24.5 percent from the previous year to 400,394 cases. "People are lining up at the courthouse doors to solver their financial troubles, but bankruptcy is almost never the right solution," Rhodes said. "The underlying causes for debt problems cannot be washed away by the bankruptcy courts. ing economy with the fact that more americans are living close to the financial edge, and w'e will continue seeing record high bankruptcies in the months to come." According to the U. S. Administrative Courts, bankruptcy filings hit a record high during the second quarter of 200 1 . non-leg- Attorney Gerneral approves ChevronTexaco merger Utah Attorney General Mark Shurtleff announced that Utah, along with eleven other states and the Federal Trade Commission (FTC), has reached a settlement with Chevron Corporation and Texaco, Inc. involving the proposed merger between the two oil companies. The agreement requires Texaco to sell its interest in a joint venture with Shell Oil Company, known as Equilon, which conducts Texaco's retail and wholesale gasoline business in the West. Texaco will also have to sell its general aviation business in Utah and other states before the company can merge with Chevron. "We believe this agreement will protect consumers," said Shurtleff. "We had to make sure Bankruptcy is a legal, financial solution used to issues." solve "Financial problems are a symptom of underlying life issues," Rhode said. "Unless you address those issues, money problems will continue." At least 10 percent of people who file for bankruptcy will file a second time, according to Myvesta, many will continue to experience financial difficulties. non-financi- al al, "Just like other compulsive disorders, money disorders are the result of emotional states such as lead and to in the reduce competition stress, anxiety, depression, envy and boredom," marketplace aviand Rhode said. 'People experience financial trouble for motor gasoline higher consumer prices because they have unrealistic money goals, a ation gasoline. Under the terms of the settlement, Texaco must shopping addiction, compulsive spending, impulissues and'or a lack of sive spending, also relinquish its right to use the Texaco brand name through 2003. personal responsibility and financial awareness. competition could still thrive after a merger between these two powerful oil companies." The proposed settlement, contained in a judgment filed in the U. S. District Court for the Central District of California, requires Texaco to sell those assets to another buyer, possibly Shell self-estee- m Regulators believe this will prevent the new Chevron Texaco Corporation from taking over a i large part of the market and will also allow the buyer of Texaco's assets to build its own brand. Oil Company. Under the terms of the settlement, if Shell does not purchase Texaco's interest in Equilon, the assets will be placed in an irrevocable trust until a sale to a buyer acceptable to state and federal regulators can be arranged. Without the divestitures, the newly formed Chevron Texaco Corporation would threaten to "Before you file for bankruptcy, look for a comprehensive solution to end your financial problems forever," Rhode added, include debt managej; ment, crisis resolution, online bill management, and wholesalers retailers, bankruptcy alternatives, creditor problem resoluIndependent gasoline tion and financial coaching. continue allowed to be will "however, using the Prior to April 2000, Myvesta.org was known as Texaco brand for a period of time so they can Debt Counselors of America. switch brands. Bmmess Directory place your advertising, call To 250-565- 6 O 5 $$ GASH $$ for cars, trucks, vans, machinery Any condition, WE PICK UP! Pruning-Toppin- 5-46- BILES LOUNGE CAFE Call for Takeout : yTy 8785 West 2700 South d. -- Closed Sundays- - CROSSROADSofthe WEST mn SHouj EXPO SOU7H TOUHE 9575 S. STATE SAHDY , Clip for $1. -- limit Ask your local DOUBLE a . 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