“Too much knowing is misery.”

– Lorenzo de Medici 

By David Johnson | @TurnaroundDavid

WASHINGTON, DC - AUGUST 21:  An American Red Cross building is shown August 21, 2015 in Washington, DC. According to recent reports, Gail McGovern, the CEO of the American Red Cross, attempted to halt a congressional inquiry into the organization's disaster relief efforts last year. (Photo by Win McNamee/Getty Images)

The Corporate Takeover of the Red Cross (ProPublica): Despite support from the U.S. government, a proud history of aiding people in the midst of crisis, and the advantage of one of the more recognizable fundraising brands in the nonprofit sphere, The Red Cross has been mired in turnaround mode for years.  In her seven years at the helm of the organization, CEO Gail McGovern’s turnaround has created massive disruption with few positive results.

Assured Guaranty Blasts Treasury’s Stance on Puerto Rico (Bond Buyer): Angered by the Treasury Department’s recent statements in support of extending chapter 9 bankruptcy protection to the commonwealth of Puerto Rico, Assured Guaranty CEO Dominic Frederico has argued that retroactive changes to the legal framework under which lenders have funded municipal debtors could roil the $3.7 trillion municipal lending market.  Assured Guaranty currently has $5.1 billion of net exposure on its guarantees of Puerto Rico debt.      

Northern District of Illinois Examines Law on Fraudulent Transfer, Recharacterization and Equitable Subordination (Weil Bankruptcy Blog): Scrap metal processors are susceptible to a boom and bust cycle driven by commodity price fluctuations, and Keywell, LLC was no different.  When the company filed for chapter 11 bankruptcy protection in 2013, the liquidating trustee paid careful attention to the size and characterization of $69 million in distributions made in the 2007 – 2008 period.

Here’s What You Need to Know About the Junk Bond Bust (Fortune): As the market begins to reassess risk, the high yield sector, and particularly the most challenged credits, is becoming increasingly inhospitable.  Market experts note that, for the time being, the change in tenor is mainly focused on structurally challenged energy and mining sectors, and is not yet at the point of a broader shift away from all high yield issues.    

Dell’s Business Hasn’t Gotten Much Better Since It Went Private (Recode): As Dell moves forward with its plans for a $67 billion purchase of storage company EMC, the markets are getting a closer look at the financials of the company, which was taken private in 2013 by founder Michael Dell and tech investment firm Silver Lake Partners.  Filings show that Dell has experienced considerable erosion in its performance, with gross margins down 2.4 percentage points (to 19.9 from 22.3 percent) and operating profit down 20% (to $3.2 billion, from $4.0 billion).